How to Drive Growth in a Volatile Economy
With all the mixed messages in the news, it is sometimes challenging to focus on your business based on the signals of our macro-economy. What areas should you conserve on? Which expenditure should you invest in? More importantly, what are the strategic priorities for small businesses during a time of uncertainty? In this two-part series program, we will help you unpack current market trends and develop actionable growth strategies to help you achieve measurable growth for your business.
WK 1: Strategic Planning & Financials:
The current business ladscape
- Are we currently in a recession? Current U.S economy
- Known situation: inflation, supply chain issues & price increase
- Shifting customer demand & sentiments
Heightening your strategic Focus
- Understanding what is working and not working
- Create a robust business plan
- Make your business more nimble and agile
Focusing on your financial health
- Manage and consolidate your debt
- Examine cost of supply and inventory level
- Conserve your cash
- Open a business line of credit
WK2: Team & Marketing:
Human Capital- Managing your team
- Conserve to go further: Furlough, reduced hours, performance-incentivized pay
- Job sharing: employee training and re-training
Creating leverage with marketing
- Price increase
- Product strategy
- Marketing promotions
- What sets you apart from big competitors
- Channel expansion
Moving forward
- Lean into technology
- Invest in long-term infrastructure, focus on sustained productivity and future growth.
- Mindset and Diligence
* Registration closes January 31st at 11:59 PM
** Emails to participants will go out February 01 after registration has ended.