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Strategies For Changing Times

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  • 1. STRATEGIES for changing times www. bizkul .com Anjana Vivek www.bizkul.com [email_address] (www.venturebean.com)
  • 2. First thoughts Strategies in an Economic Slowdown ww. bizkul .com
  • 3. Looking ahead Strategies in an Economic Slowdown ww. bizkul .com
  • 4. LOOKING AHEAD Where would you like to be as a business …three years from today? .….five years from today? ww. bizkul .com
  • 5. Stock take of current position of business Strategies in an Economic Slowdown ww. bizkul .com
  • 6. STOCK TAKE Where are you heading as a business today? What are the key drivers of your business? What are the hurdles to growth? ww. bizkul .com
  • 7. Additional points Strategies in an Economic Slowdown ww. bizkul .com
  • 8. EXAMINING your business model Converting fixed costs to flexible costs Changing methods of working ww. bizkul .com
  • 9. EXAMINING the balance sheet Study the elements and building blocks of the balance sheet to understand where money is locked and see if something can be unlocked ww. bizkul .com
  • 10. EXAMINING the P&L account: Sales Can you relook at your sales strategies and sales models? Will discounts or other benefits to customers really help? ww. bizkul .com
  • 11. EXAMINING the P&L account: Costs Relook at all costs and assumptions Do not blindly cut all costs, think long term not short term ww. bizkul .com
  • 12. Marketing strategies Relook at marketing and sales strategies and think of leveraging on new ways of doing business in today’s business environment ww. bizkul .com
  • 13. Communications Leverage on existing networks and connection capital ww. bizkul .com
  • 14. Cash management Put systems of prudent cash and treasury management This will serve you well in good times as well as bad ww. bizkul .com
  • 15. Monitor your performance Understand what you are doing and how you are progressing over time Have a good MIS which captures the value drivers of your business and key pain points ww. bizkul .com
  • 16. Think strategically Set aside time on a regular basis to think long term; put in action plans for the immediate term Scan the markets to know best practices in the industry ww. bizkul .com
  • 17. Performance management Keep a watch on your performance against the background of the long term vision and weigh flexibility vs. fixed action plans ww. bizkul .com