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Archive for October, 2008

Change, innovation and pure survival…

Oct 29

Posted by Steve Gray in Excellence!, Innovation and Creativity, Leadership, Planning, Risk Management, The Board Room | 1 Comment

In the tumultuous financial crisis and the uncertainty it causes, there is one thing for certain, Change is happening. Sure it’s not a change that organisations implemented, and for many it’s a change they did not have a contingency plan for but it’s happening and if your organisation needs to do something about it, then your training in innovation will put  you in good stead… What’s that you have no training in innovation… ooh.

Well lets get one thing straight the ability to handle change is important, the attitude, the planning, the stance the leadership skills, they are all important in an age where Improvise, adapt, overcome becomes the hallmark of a survivor.

If you need to be able to think about new strategies and brainstorm with others, then petty office politics and ineffective interpersonal communication needs to be put aside. In a crisis it can be “every man for himself” or “Lets get the team together and nut out the best way forward NOW…”

Either way it probably comes down to you the leader to find a way forward, to make the right moves (or at least have a go) sure you might make mistakes, sure the road might be tough, sure there can be unexpected thing pop up, but if you don’t face reality then you might be wondering what’s happening next.

Wonder no longer, and be the one that sets the team up to thrive, if they fall short of that they survive, so the high goal needs to be there to ensure things go on. It’s up to the senior people in the organisation to provide the leadership, to use innovative and creative techniques.

In sot if you are not providing the right environment, skills, attitudes and mindset to make it through then folks the end is nigh, but if you are putting you best feet forwad, then if the grim hand of failure comes your way you will have known you put in a top effort to weather the storm. I guess the decision to act and make a stand is up to you, or not…

On the edge…

Oct 27

Posted by Steve Gray in Excellence!, Franchisees, Innovation and Creativity, Leadership, Planning, Risk Management | No Comments

When tough times strike my heart goes out to those businesses on the edge, and of course instead of talking about daily things that can trip up a marginal business, we are now talking about bigger fundamental global meltdown type trip ups.

So when the going gets tough how many of the businesses on the edge have a debt reserve fund, or a plan b, or an innovative structure, system, marketing plan etc to get them out of the jam? probably too few. Then on the business front, if they are a “want” type of business do they have their fingers in the pie of a “needs based” business to be able to handle the changing spend patterns of consumers… probably not.

Here’s 8 quick points to give you the edge in tough times.

  1. Have a plan A, then have a plan B, just in case!
  2. Have some reserves, stuff happens so be ready for downturns.
  3. Needs based V’s Want based, if you sell gifts for example, you might want to look at developing a needs based business to complement it, this way you cover your butt when customers walk away from the niceties. Consider diversifying into an online business of some kind that is easy to manage from your want based business, get busy while it’s quiet.
  4. Keep marketing, but make sure it’s making you money, don’t throw money out and get NOTHING back, measure it carefully, get smart about how it works.
  5. Keep the team informed, fear can run deep and fast, let them know what you are doing or plan to do to weather the storm. Batten down the hatches but make sure they know where the exits are…
  6. Lead, now more than ever the team needs you, teach them GREAT customer service, if people get picky  you need to have the BEST people upfront, with the BEST service, now more than ever. Get out on the floor and look for gaps, are they smiling, are they happy, do they know the products and or services inside and out? No? train them…
  7. Be nimble, change is a given so learn to love it, zig when the others lag or zag. This way you can be there when the others have fallen by the wayside.
  8. Improve your systems, now is a great time to tighten up on how things tick over, ask hard questions like “Are we doing things the best way?” “How can I jump start and or utilise my peoples collective intelligence to give us a lasting edge?”

You get the idea, make a difference, a poisitive difference so your business can take on the challenges tough times provide and see it through successfully. So jump up to the whiteboard and make a start NOW!

Banks and the meltdown

Oct 10

Posted by Steve Gray in Finance, Planning, Risk Management, The Board Room | No Comments

An interesting letter to the editor in a local paper about Ben Chifley’s (past Australian Prime Minister) idea of a nationalised bank being a must have.. Well we had that in Australia with the commonwealth bank then that was privatised…

Okay so what if We had a bank that had some form of Co-operative approach or structure. One where the people had a say in how it worked, one where the idea of prudency was revered, where cash (and the customer) were king, and other assets were of value too, but the cash side kept building (perhaps to a debt reserve fund or similar). A bank where the people really cared because the bank was the people. A bank where you as a customer felt like the service team really did care, a bank where the service team not only handed out loans for building houses and businesses but turned up to see  it finished…. In short a bank that set it’s own highly rigourous standards without the Government having to intervene, as the bank not only met the stds set but exceeded them with ease at every turn.

In a time of greed, money grabs, plunging values and challenges a co-operative approach could make a world of difference.

Global Meltdown…

Oct 7

Posted by Steve Gray in Finance | No Comments

The USA market is in a big slide, the rest of the world is falling around it and the big question seems to be what to do about it.

It’s a free market, free to go up and free to go down… Well we are seeing that right now, so do we prop it up with billions poured in until the Government loses out? I guess they have a few “bill” to give, but my view, hang on to it. Use these funds that seem to be so readily available to rebuild once the whole thing has bottomed out. The USA market went below 10,000 points for the first time in ages, the Aussie market is down a few hundred points or 26% over the past few days.

Those in “the know” have pulled out early and are holding on to their cash, ready to buy when things bottom out. Perhaps that’s what the goverment should do, buy shares at the bottom of the market, rather than trying to prop up falling structures.

Local music scene gets a boost! Yay Geelong…

Oct 4

Posted by Steve Gray in Excellence!, Innovation and Creativity, Planning, Starting out in business | No Comments

In a stand against getting snubbed by some big bands, a Geelong based team put together a music show to set the town toe tapping and grooving to the beat of their own drum… Lets hope they get the support they need to make it successful!

The art of business or the business of art…?

Oct 4

Posted by Steve Gray in The Board Room | No Comments

In a recent interview with an Art Gallery Director the team at the Visual Arts blog Art-Resource have compiled a seven step list for artists wanting to get represented by an Art Gallery. Great list, but I also think it’s of value for us in a wider business context and how we match what we are offering to a client or a retail distibutor. See if you can draw some analogies too.

Your business and the flurry of market meltdowns

Oct 4

Posted by Steve Gray in Excellence!, Innovation and Creativity, IT Dept, Personal Development, Planning, Risk Management, The Marketing Dept, The Operations Dept | No Comments

An interesting article in the Melb Age newspaper on the flow on effect to smaller businesses.

In an interesting basic view, if the big banks can’t get money to lend, or they are pulling their heads in “Just in case” then your chances of getting credit of some kind may well be hampered, in the short term maybe not a big deal, but in the bigger picture the squeeze could be on!

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