PLANNING FOR THE NEW ERA
The joys of the festive and holiday season are now receding. Is it time to take a rational look at what 2009 holds for your business?There is now no doubt that the global economy is heading into waters uncharted by this generation of business owners. The result will be the evolution of a new set of business rules and behaviours. This change will extend across society, in many respects altering the way we think and act.Economic recessions are discriminatory. Everyone will be affected, but in different ways. What will work for some will not for others. Some previously successful business models will no longer be viable. Others will adapt and survive. New models will emerge. Some will continue essentially unchanged.The key is to take direct and deliberate action NOW to:
- First try to identify the likely changes and understand how they will affect your business. Importantly, know the questions that need to be asked.
- Then identify the options you have to minimize the negative, and maximize the positive.
- Select the best option and test it vigorously. Analyse financial, market and resource outcomes and requirements. Optimise your business model.
- Develop an action plan, implement and monitor.
To obtain superior outcomes from the above process you need to engage your best team. Use both internal people and external advisors. No one person knows all of the questions, or understands all the issues, or has all of the best answers.Fraser Accounting will offer to assist by facilitate planning sessions for our clients. We have a suitable program using well proven business planning techniques. We start with a seminar in February, details to be advised shortly. If you want to discuss before then, please do not hesitate to call (Graeme is leading the process).
BUSINESS TIP
Too often we see business’s procrastinate and fail to act early, thus suffering far greater than they would otherwise. The economic downturn we are now experiencing started in late 2007; it will get worse before it gets better. Investing in planning now will likely protect your capital and secure the future of your business.
Important: This is not advice. Readers should not act solely on the basis of the material contained in this report. Items herein are general comments only and do not constitute or convey advice perse. Changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas.
