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:

What is the business landscape currently?

• 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

** Emails to participants will go out 11/02 and will include the course access link.