Strategies For Changing Times

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Strategies For Changing Times

  1. 1. STRATEGIES for changing times www. bizkul .com Anjana Vivek www.bizkul.com [email_address] (www.venturebean.com)
  2. 2. First thoughts Strategies in an Economic Slowdown ww. bizkul .com
  3. 3. Looking ahead Strategies in an Economic Slowdown ww. bizkul .com
  4. 4. LOOKING AHEAD Where would you like to be as a business …three years from today? .….five years from today? ww. bizkul .com
  5. 5. Stock take of current position of business Strategies in an Economic Slowdown ww. bizkul .com
  6. 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. 7. Additional points Strategies in an Economic Slowdown ww. bizkul .com
  8. 8. EXAMINING your business model Converting fixed costs to flexible costs Changing methods of working ww. bizkul .com
  9. 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. 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. 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. 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. 13. Communications Leverage on existing networks and connection capital ww. bizkul .com
  14. 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. 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. 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. 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

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