Making You Think About The Business….


Some key thoughts about reflecting on this year and making you think about the business as we near another business year end and the start of a fresh year.

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Strategic thinking

The gentle reminders from now and over the holidays are important because we want to keep strategic thinking on the radar. The time over Christmas and New YEar, which might be quiet for many, are a good time to reflect on the year past and next year. What's working to generate business; what's not; what needs to be changed or tweaked?

Make a plan

It's also a good time to be thinking about next year and getting a plan sorted our in your mind and transferred to paper. Are your products right for customers and distributors? Are you offering value for money? Are you making money? Are you broadening your range of customers or, like too many small businesses, are you too dependent on only a handful?

Recommended reading: Top Tips For Business Planning: Don't Plan to Fail, Don't Fail to Plan

Distribution is key

We go back to an old mantra that's probably boring the hell out of you at this stage: Distribution is key. So have you a distribution strategy? Can you scale your business by selling direct? Are you looking for partners that will broaden your routes to market? And have you gotten your pricing and commission strategies right for them? Can you sell direct AND through partners or is this causing channel conflict?

Funding keeps you awake

Funding, funding and funding: The bane of every CEOs life! But it is your raison d'être. Whether it's through sales, family, fools and friends, state agencies, bankers, investors, credit unions, the main responsibility and probably the biggie that's keeping you awake at night is funding. You'd better have your strategy right if you want to get a good night's sleep!

Help available

Use the available resources that are out there, everything from LEOs to Enterprise Ireland. Ask for help and funding as required.

And finally remember, you're not alone. All the best for 2020!

Recommended reading: What Local Enterprise Offices Offer In Terms of Business Supports

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Sunday, 15 December 2019
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