Six Current Questions We All would Like Answers To When Planning Our Strategy

Being successful in business is not simply about coping and reacting to market changes but being able to predict and anticipate what might happen. That ability isn’t about ‘crystal ball gazing’ or having a eureka moment in the shower but more about looking at what is currently going on and extrapolating slightly forward, turning your insights into an effective strategy. Below we list some current issues that will create opportunities for agile, perceptive businesses:

1. How has the recession changed buying behaviour?
   We know it’s making people and businesses more cautious today, but as the economy improves it will be a mistake to think things will go back to pre-credit crunch conditions. Organisations that really understand how to put value front and centre in their offer, and can sell a compelling business case, will continue to do well.
2. When should we start investing in our growth again?
   Only with hindsight will we know when the recession is over; its ending will not feel obvious at the time.  The current data is contradictory but mainly positive and there is lots of media talk about ‘turning the corner’. Businesses that have maintained the strength and capacity to grow should be acting now.
3. Which social technology trends are significant - which are fads?
   Social networking is a phenomenon looking for a business model. We all know about Facebook, LinkedIn, Blogging and now Twitter - you may have even experimented with them - but no business (apart from the evangelising founders of said companies) has yet understood their significance or otherwise. London is the biggest user of Twitter in the world, second only to the US, and the biggest text user in Europe. Brits seem to like informally communicating. 
4. How will the collapse of pension values and the loss of final salary schemes affect the job market?
   A lot more people are going to have to work a lot longer. The built-in ageism of many employers is going to have to change. This issue is also linked to the huge increase in the retiring buying power of the baby boomer generation born between 1945 and 1960. The older part of this demographic are the last potentially wealthy retirees who are very active, discerning consumers.
5. Which are the high growth sectors we should orientate our offer towards?
   It’s a truism in the B2B space that if you want to grow you should attach your plans to actual and potential customers who have high growth plans themselves. If you can position your offer as something that will facilitate, even accelerate, their growth you will win business.
6. How will Government debt change the public spending mix?
   If your business is directly or indirectly affected by government spending you are in for a roller-coaster ride over the next 2 years, with an election at the mid-point adding to the mix. Calling this right will be an important success factor in making any investment/growth plan deliver on its objectives.  

Claudine McClean
T:  01789 734400
E:  claudinem@salespathways.com

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