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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.

Date

Nov 03 2022
Expired!

Time

10:00 am - 11:30 am

More Info

Register Here

Location

Webinar

Organizer

CSUF SBDC
Register Here

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