Sergiy Kharytonov: Keep Your Business Going via Growth During A Recession (UA) UA Online IT Outsourcing Forum 2023 Winter Website – www.liof.org/online Youtube – https://www.youtube.com/startuplviv FB – https://www.facebook.com/ukrof

1. Keep Your Business
Going via Growth
During A Recession
SERHIY KHARYTONOV
CEO of JetSoftPro

2. Life in Time of Ideal Storm
Adversity can help with
innovation and growth
Many Fortune 500
companies emerged
during recessions
Recession is going and
and will last probably for
for years

3. Reduce Unnecessary Expenses
•Analyze company budget and expenses
•Identify areas for cost-cutting
•Reduce travel, perks, and renegotiate contracts

4. Mitigate the Risks
Identify problem
areas in your
business.
Eliminate
processes that
slow down your
growth.
Strengthen
your
strengths.

5. Invest in Technology and Automation
•Streamline operations
•Reduce manual labor
•Cost savings, improved efficiency, and productivity

6. Diversify Your Revenue Streams
•Reduce reliance on a single income source
•Expand product or service offerings
•Enter new markets and explore new business models

7. Develop a Culture of Innovation
Foster a culture of
innovation into
your business
Encourage
collaboration and
open-mindedness
Empower
employees to
share ideas and
suggestions

8. Prioritize Customer Retention
•Cost-effective strategy
•Deliver exceptional customer service
•Offer new products or services to retain existing customers

9. Engage/Acquire New Businesses
Expand through
engagement or
acquisitions
Open new
revenue
opportunities

10. Cover the Gaps - Add
New Services
Adapt to changing
customer needs
Develop new services
to meet demands
Identify market
market gaps

11. Create a "One-Stop-Shop"
Principle
Increase the value
you bring to
customers
Enhance customer
loyalty
Offer a comprehensive
range of products or
services

12. PDLC vs SDLC vs Outstaffing
•Outstaffing is highly competitive
•You need new approaches to be different
•Result is value

13. Thank You