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With
the threat of recession looming (or even upon
us?), many businesses are asking us how they can
survive in the face of declining customer spend,
tighter credit periods and the general doom and
gloom that comes with an economic downturn.
Naturally,
the answer will depend on your business model,
B2B, B2C, and so on. But, in principle, for the
entrepreneur, the 'cash last' approach should
always be the first priority, either in a start up
situation or for a growing business.Read Full
Article
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Elevated
Thinking and a Platform for Exponential
Growth:
What happens when
ambitious entrepreneurs are exposed to the
strategic
tools and techniques of world class
blue chips? |
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It's
a question that came to me as I started to
investigate how businesses create effective
strategies and plagued me ever since: How does any
of the Blue Chip's learning apply to an
entrepreneurial Business? Most of the strategy
generation research was conducted with mainstream
managers in established, and generally large,
organisations. But in an age where almost 98% of
European and US businesses meet the Small or
Medium-Sized Enterprise (SME) criteria, surely
it's time for some serious revision?
Of
course, I'm not the first to question the validity
of Blue Chip learning for smaller businesses. In
fact, Henry Mintzberg considers the applicability
of most mainstream managerial thinking to all
organisations as little more than a series of
'myths' (oh, to be the one that became famous for
that observation!)
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Eriskay's
Recommended Read |
The Tipping Point by Malcolm Gladwell is fast
becoming a management classic and a must-read for
any ambitious entrepreneur or business leader. The
author explains that by putting the right degree
of effort into the carefully identified 'right'
actions can lead to exponential returns and
dramatically enhanced business outcomes. But key
to this is the people around us. Only by
understanding their true motivations, capabilities
and desires can we lead a joined up team to
meaningful success.
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