A new year is upon us and many challenges lie ahead. One wonders how many people meet 2009 with just one goal, Survival. If you asked many small business owners what their goal(s) for 2009 are that one would be at the top of their list. Just consider a few of the macro issues your business will face:
1. Selling products or services in a down market
2. Retaining your existing customer base from severe competition also looking to merely survive
3. Managing cash flow as A/R’s are likely to grow as your customers manage their own challenges
4. The need to reduce cost while exceeding customer expectations for quality products and services
Many if not all businesses are starting 2009 with a focus on cost reduction. The most effective approach to analyzing your business priorities is to examine how to get more performance from your business without cutting out the core value propositions you offer your markets. Leveraging technology can play a big role in optimizing business performance without sacrificing quality service and revenue opportunities.
Given the enormous growth of social technologies, new discoveries about how to use said technology to optimize business performance is emerging as more and more people discover creative ways to accomplish more with less. The emerging trends include:
1. Outsourcing administrative services to “virtual assistance” without the related cost of having full time resources
2. Finding low cost alternative “virtual office space” to replace the high cost of leasing traditional office space
3. Optimizing communications and services by leveraging technology rather than hiring more people to manage related issues
4. Growing market share in new markets without carrying the traditional cost of presence
5. Leveraging social technology and optimizing virtual opportunities to expand relations and engage with new markets
While 2009 may be a challenging year for all businesses the winners will be those that examine all the opportunities to not only survive but thrive. The answers on how to thrive lie on the fringes of traditional thinking and rest in the emergence of virtual technologies that enable you to achieve more with less. Time is a critical factor. Don’t waste time fixing business problems with old solutions. Instead step forward and embrace the emergence of virtual opportunities that will help you optimize your business for the coming year.
How are you greeting the 2009? Are you hoping things will simply get better? They can as long as you make the right choices
