A Season of Change

Leaves are falling and the air is crisp (and so are the apples!). Doesn't this time of year always invite change? There are changes in our routines, changes in the way we dress, and changes in our thinking as we prepare for the winter months ahead.

In my general discussions with business professionals, I have noticed that there also seem to be changes in the air for business strategy. A new approach is needed to keep the blood flowing. In some instances, executives have cut costs, cut payroll, and cut excitement out of their business day. They crave positive action.

The new buzz word is growth. Companies in some industries have gone out of business or decreased their services greatly. And this creates opportunities for those who want to grow their business in an economic downturn, just as it is coming back up.

Now is the time!

There are several options to determine the best potential for growth through strategic market planning. The best way to start is to take all of those thoughts in your head and write them on paper. "I want to sell my product into Asia," or "I want to offer my service into different vertical markets," or "I want to buy this competitor."

The potential growth strategies are endless, and therefore the sky should be the limit in making a laundry list of growth ideas.

Once the opportunities have been identified, they need to be quantified. Key questions must be answered: How much revenue will this strategy produce? Better yet: How much will this add to the bottom line? How will this affect our current supply chain strategy?

Steve Ganster, Managing Director in our Asia office, and I have had several conversations on growth given current market conditions. We invite you to discuss how you have turned your company into a win-win value proposition and moved forward during the downturn.

What are your plans for 2011? What are your plans for growth? I would love to chat about ideas to make next year bigger and brighter. The future should be so bright you have to wear shades this winter.

Jim
Tompkins Associates