Make your Business 8 Packs
Friends, as we all are aware the World economy is going through an unprecedented time. So much has changed in the last few months since AIG was bailed out by US Government, that the World is now a different place altogether. It will take serious efforts jointly by the leaders of the World to come out of this recession, which may continue for the near foreseeable future.
I therefore, believe that the steps taken by Companies during this testing time will eventually become a key differentiator both in their performance and sustenance.
The companies which only rely on human arbitrage as a differentiator will be the first to go under, as the slow down in the businesses and the wave of protectionism that has already started in western world to save jobs will lead to less and less out-sourcing. The second strings of companies which will soon follow will be product companies which will face lesser and lesser IT spend by their customers. The third and the final rung of companies which will survive the longest will be the “New Age” companies which have an ability to adapt new technologies, are lean, mean and fit with controlled aggression, having strong resilience, offering niche services and Agility to move faster, thereby delighting customers with a Smile.
In all these parameters, one company that fits the bill is Niche n Agile, the company that reflects and proactively practices its unique name in all sense, Besides, living up to its core values in all respect, the 8 Pack solutions that are being built in Niche n Agile, are relevant for other IT and IT enabled service companies:
The companies which only rely on human arbitrage as a differentiator will be the first to go under, as the slow down in the businesses and the wave of protectionism that has already started in western world to save jobs will lead to less and less out-sourcing. The second strings of companies which will soon follow will be product companies which will face lesser and lesser IT spend by their customers. The third and the final rung of companies which will survive the longest will be the “New Age” companies which have an ability to adapt new technologies, are lean, mean and fit with controlled aggression, having strong resilience, offering niche services and Agility to move faster, thereby delighting customers with a Smile.
In all these parameters, one company that fits the bill is Niche n Agile, the company that reflects and proactively practices its unique name in all sense, Besides, living up to its core values in all respect, the 8 Pack solutions that are being built in Niche n Agile, are relevant for other IT and IT enabled service companies:
1. Act now. Act with speed, Focus, cut or sell.
2. Protect the vital core of the business. Use a scalpel not an axe. Be surgical. Protect the vital core. Cut once, deeper than you think.
3. Make conservative revenue forecast, rely on leading indicators — e.g. bookings, unique visitors, conversions.
4. Defer excessive and expensive expansions. Whatever can be deferred is not required.
5. Renegotiate any contracts that you can. Everything is negotiable.
6. Remember, everyone in the organization should be selling, from the receptionist to the engineers.
7. Secure cash. Treasuries, or treasury backed securities, are more secure than money market funds.
8. Over-communicate with everyone – employees, investors, partners and particularly customers. Don’t sugar coat things, communicate your resolve.
3. Make conservative revenue forecast, rely on leading indicators — e.g. bookings, unique visitors, conversions.
4. Defer excessive and expensive expansions. Whatever can be deferred is not required.
5. Renegotiate any contracts that you can. Everything is negotiable.
6. Remember, everyone in the organization should be selling, from the receptionist to the engineers.
7. Secure cash. Treasuries, or treasury backed securities, are more secure than money market funds.
8. Over-communicate with everyone – employees, investors, partners and particularly customers. Don’t sugar coat things, communicate your resolve.
I believe that with the above collective efforts, the organizations could be geared to meet all challenges and be made ready to capitalize on all the opportunities that ‘World’s New Order’ may present to us. Today’s Pain is Future Gain – get ready for a long haul flight.
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