How to Make Your Business Recession Proof
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How to Make Your Business Recession Proof

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This is a joint presentation materials from Business Coach Lizam Karim & Business Coach Leow Leik Hong on the topic of How to Make your business Recession Proof. ...

This is a joint presentation materials from Business Coach Lizam Karim & Business Coach Leow Leik Hong on the topic of How to Make your business Recession Proof.

Give us a call or drop us an email if you have any questions on the materials. For those of you who have additional requests in your email, we will get back to you as soon as we are back in office.

Host for this seminar: Northern Corridor Implementation Authority ("NCIA")

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How to Make Your Business Recession Proof How to Make Your Business Recession Proof Presentation Transcript

  • Example of the font size MAKING YOUR BUSINESS RECESSION PROOF 13 NOVEMBER 2013 KORIDOR UTARA BIOTECH CENTRE
  • How to Make Your Business Recession Proof By Coach Lizam Karim and Coach Leik Hong
  • Me… Coach Lizam Karim • Born and raised in Kuala Terengganu • B.Sc. (Cum Laude) Industrial Engineering from Bradley University, Illinois Bradley University, Illinois • 18 years with MNC (Multi National Corporation) (1990-2008)
  • Introduction… 2007 Advance Coaching Resources
  • What is recession…economist says… In economics, the term recession describes the reduction of a country's gross domestic product (GDP) for at least two quarters. The usual dictionary definition is "a period of reduced economic activity"
  • What is recession…US NBER says… The United States-based National Bureau of Economic Research (NBER) defines economic recession as: "a significant decline in economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment, industrial production, and wholesale-retail sales.
  • What is recession…corporate says… • That private organization defines a recession more ambiguously as "a significant decline in economic activity spread across the economy, lasting more than a few months.“ • In macroeconomics, a recession is a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year
  • What is recession… We, the laymen agrees with Harry S. Truman “It's a recession when your neighbor loses his job; it's a depression when you lose yours.”
  • When in recession…your ACCOUNTANT will advise you to… Cut cost
  • When in recession…your SALES and MARKETING will advise you to… Cut price
  • When in recession…your SALES and MARKETING will advise you to… Sell Anything
  • When in recession…your HR will advise you… Fire someone besides me…
  • When in recession…your PRODUCTION will advise you… Cheaper parts
  • When in recession…your WIFE/HUSBAND will advise you… Stay home Let’s make more babies…
  • CRISIS! Wei Ji
  • Good news… As sure as the spring will follow the winter, prosperity and economic growth will follow recession. Bo Bennett
  • How we respond to an event determines the outcome we will get E+R=O E = Event R = Response O = Outcome Jack Canfield – The Success Principals
  • Making your business recession proof lies in how you …
  • 4 steps to make your business recession proof… 1.Be in control of your business 2.Set yourself apart from others 3.Systemize your business 4.Take care of your team
  • Step 1: Be In Control of Your Business
  • 3 Areas of Control
  • Having Control over your Destination … • Vision/Mission • Clear goals • Purpose (Why)
  • Having Control over your Finance … • Break Even Mastery • Profit Margin Mastery • Cash Flow Mastery • Reporting Mastery • KPI Mastery
  • Having Control over your Delivery/Operation … • Supply Mastery • Quality Mastery • Easy to Buy Mastery • Service Mastery
  • Are you delivering consistently?
  • Step 2: Set yourselves apart from others
  • GROW LIKE AN APPLE
  • Learn & study your competitor(s), not to be better; but to be DIFFERENT
  • Coach LEOW LEIK HONG Bsc in Electronics & Computing Certified Professional Trainer (IPMA UK) (HRDF Malaysia) Business Transformation Coach - Associated with Biz Coach Firm Sdn Bhd (Action Coach) - Intensive sales & marketing experiences in various MNC(s) - covering recruitment consultation, engineering supplies & electronics components distribution Be panel speaker and trainer in Taiwan, Korea, Indonesia & UK
  • What I’m doing now…. With Coach Radin ActionCoach Boot Camp TEAM Building @ PD Intel MY Advisor Training Facebook Workshop @ Bali CEO Conference Seminar
  • Being &
  • Performed Badly Do Little Creative Tasks I am Not Creative
  • How to incorporate? (Creativity Fun) Video: Piano Stairs
  • nitiating Creative Ideas efining Your Goal xploring Options cting on Options
  • Definition of Education & Communication
  • Percentage of Adopters Innovators 2.5% Early Adopters 13.5% Early Majority 34% Time Late Majority 34% Laggards 16%
  • Marketing is about creating Note: Special, USP, PC
  • Purple Cow
  • • • • • Truly unique … Exciting to your target market ... Something that will get people talking ... Something that can’t be easily copied, or if it can be, it will be an obvious rip-off on the part of the offending business ... A Successful USP Should Be … Video: HomePlus
  • Creating a Niche =
  • Book…
  • Features of iPod Capacity • 5GB hard drive2 • Stores data via USB hard drive • 10 hours of battery life
  • iPod. One thousand songs in your pocket.
  • “People don’t want to just buy personal computers anymore. They want to know what they can do with them, and we’re going to show people exactly that
  • Women buy cosmetic product not because of “beauty” but; To have the envy looks from their friends, To keep their husband, get rid of the mistress To attract the opposite sex
  • 1. It is EASY Slimming Product Adv You can slimmed down even while you are asleep.
  • 2. It is FAST In 10 days
  • 3. It is SAFE A facial cleanser that you can drink
  • Nice, do you have in GOLD Colour?
  • Train your TEAM during recession
  • Why is iPod so successful?
  • iTunes Store
  • Sell dreams, not products.
  • MacBook Air. The world’s thinnest notebook. OS, Battery, Light
  • Apps Store
  • What Starbucks is selling?
  • Make it simple & relevant
  • “Innovation comes from saying no to 1,000 things to make sure we don’t get on the wrong track or try to do too much.”
  • Steve Jobs reduced complexity in the Smartphone category by eliminating the keyboard.
  • The iPad is so simple a 2-year-old can use it.
  • The Apple Web site features one product.
  • Create insanely great experiences
  • packaging experiences.
  • Paper cup design.
  • Spaghetti noodles. Biscuit. Tomato sources. Fruit juices.
  • Video: Apple Store Barcelona Apple Store the gold standard in customer service by introducing simple innovations any business can adopt to create deeper, more emotional connections with their customers.
  • Three types of materials: Glass, Wood & Aluminum
  • genius bar
  • Apple created an innovative retail experience by studying a company known for its customer experience—The Four Seasons. Apple Stores would attract shoppers not by moving boxes, but by “enriching lives.” The lesson—don’t move “product.” Enrich lives instead and watch your sales soar.
  • Meet Your Mac. Personal touch is essential, not selling.
  • Is IKEA selling furniture? IKEA inspired the creativity within yourself, turning them into idea(s) & you then take action.
  • The blood line of a business
  • 1. CUSTOMER X 2. NO. TRANSACTION X 3. AVG $$ SALES =
  • Simple & Clear menu, make it EASY TO BUY
  • Provide shopping basket to encourage customer to buy more
  • Step 3: Systemize your business
  • System in a nutshell…
  • The 9 Steps to Systematizing Your Business… 1. 2. 3. 4. 5. 6. 7. 8. 9. Vision Statement Mission Statement Culture Statement SMART Goals Organization Chart Positional Contracts Key Performance Indicators How-To Manuals Milestones
  • Step 4: Take Care of Your Team
  • Building your team... Most employees are motivated, energetic, committed, enthusiastic and loyal … Except for the 8 hours they work for you! Tom Peters – Author /Speaker
  • Winning teams know how to get the...
  • 6 Keys to A Winning Team ...
  • The Cycle of Business ...
  • Improve Business Profit; without Increase Marketing Budget Thank you… Social Media / Business Coach Leow LeikHong www.facebook.com/leikhong www.facebook.com/digitalprofitclub Email: leow@leikhong.com