Tough times, back to basics...

I've been here before...

High-interest rates, inflation, and general doom and gloom in the economy...

But don't panic, there's a way to thrive even when times are tough...

Having been in manufacturing, logistics, aviation, and recruitment, and of course, being a Business Co-Pilot for 20 1/2 years, never lost a company and always successfully traded through shocks to the system...

Here's the method we used when we were fighting to save a company and get it back on track...

First, we'd get the team together and tell them we are in a fight, and that we are going to win. As a leader, you must have absolute confidence and resolve to get the results you want...

We'd give everyone weekly updates and access to meetings to give their ideas and support...

Then we'd work through the method below...

A checklist you may find helpful...

1. Cash - check your balance sheet. Get your debtors under control and all within your target Debtor Days. Make sure you're paying your bills too, but not too soon - and have a rolling cash flow forecast. No company goes bust for lack of sales, it's lack of cash that pushes them over...
2. Ledgers - check you are invoicing everything, sounds obvious but you may be in for a shock.
3. Client Retention - look after the clients you have. Build your customer service experience so that the Value Proposition is so strong they keep coming back and tell all their friends...
4. Product & Service Range - are your clients buying all they should from you, do they know all you do...?
5. Conversion Rates - how many prospects are you converting from enquiries and leads? It's lower than you think, which is good because we can make it better - where should it be, where could it be...?
6. Lead Generation - do this last NOT first. Build your marketing pipeline by doing proper professional marketing - Above, Through, and Below the Line. One LinkedIn post every three months isn't going to do it...??

At the same time, from a Board perspective, we are always looking for acquisition opportunities, international partnerships, and innovative solutions to standard problems...

If the market is shrinking, we have to shine brighter, get a bigger share of a smaller pie, and focus on service and relationships rather than price...

Finally, I have three offers for you...

1. If you'd like a copy of my eBook - Four Keys to Building Your Remarkable Business that takes you through the above - drop me a note...
2. If you're innovating and would like a summary of the principles of TRIZ creativity - even if you've never heard of TRIZ - drop me a note...
3. When you're open to a call to have a chat about your business over a virtual coffee so it all makes more sense - let's arrange a time to meet, drop me a note...

Email me at [email protected]

The kettle is on...