Cyrex communications 2008 year
TOP BUSINESS NEWS
Managing business
Launching a new business now depends very much on what you plan
to do.Many entrepreneurs would be forgiven for thinking the current
environment is the worst time to be launching a business.
The reality is the financial crisis is stalling growth around the world but
Australia is probably the best placed of the modern OECD economies
to ride out the stormy times.There has arguably never been a better
time to launch a business in the market if we learn from the history of
economic fall out.
There is an old saying in finance: ''when the tide goes out you work out
who has been swimming naked'' and the recent collapse of ABC
Learning Centres only reinforces this point.
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On every occasion of tougher economic times the recovery has been
marked by a time of the strong getting stronger, the weak weakening
or ceasing to exist and the new having a far more level playing field to
advance.
One of the key reasons for new players finding a level playing field is that
the end, consumers or distributors, stockists or alliance partners are often
more open to change given their own financial performance.
This provides opportunities for meetings, contracts and growth that was not
possible during the more successful times.It is critical that anyone starting a
business now remain focused on cash flow, access to debt, the core
product or service offering and just how to close the deal.
Far too many entrepreneurs get caught up in the emotion or culture of
their business early on at a time when deal closing and cash flow are the
two most critical elements.The three critical areas to focus on are the
strength of the value proposition, target market and a sustainable
business model.
These three areas will provide the foundation throughout the early
years and as a consequence it is critical to be honest about how well
understood the fundamentals of these areas are.
It is much less about the perfect business plan and much more about
understanding exactly what your proposition is, how it will reach the
customer, at what price and importantly, if success presents itself will the
business actually scale on a profitable business model.