New Year Resolutions
We hope you all had a fantastic break and are now fully refreshed and straining at the leash to embrace the new business year and its opportunities. We sent our intrepid reporter out and about to gauge business confidence for the year ahead.
Taking a straw pole around our offices, we found out that there are a few New Year's Resolutions still intact after a few days - quitting smoking, cutting down on the booze, eating less, going to the gym, and buying fewer shoes proved to be the most popular this year.
Then we discussed business resolutions. Fortunately, many of our entrepreneurial business owners are refusing to be de-motivated by the economic slowdown. However, they recognise that 2009 may well deliver some tougher challenges to many small businesses than in previous years. They believe that the successful businesses will be the ones with the flexibility to reposition their sales efforts to concentrate on the products and services that their clients really need.
Perhaps, now is the ideal time to dig out that old business plan that you may not have looked at in the last 12 months and ensure that it is still appropriate for the changing conditions. It's also time to review your marketing strategy and tactical marketing campaigns for the year to ensure that you are:
- targeting the most appropriate market sectors and people
- promoting your "must-have" products and services
- communicating the benefits of these offerings effectively
- looking after your existing clients better than ever
- asking your clients for feedback and other referral opportunities
- taking advantage of networking opportunities
- setting up alliances with partners for mutual business wins
- keeping aware of industry trends and competitor activity
Other important activities discussed included retaining and developing the best employees and acknowledging their hard work and achievements for your business throughout the year. It was agreed that a stable cash flow situation is always a prerequisite, but some pre-planning for slower months could prove essential in a tougher year.
Finally, we concluded that a good New Year Resolution would be to concentrate on what you do best and become indispensible to your customers. Thanks to all participants for their useful views and opinions and here's to a successful 2009!
If you would like to contribute to next month's Newsletter, please email us at:
newsletter@clarendon-enterprise.co.uk.
