User login

Thinking Fresh for 2010

(February 2010) posted on Thu Mar 11, 2010

Thinking Fresh for 2010

click an image below to view slideshow

By Marty McGhie

It’s the end of 2009 as I write this, approaching 2010—the perfect time to think fresh when it comes to your business. To that end, in this month’s column I’m supplying you with 10 recommendations that you can use to create a corporate “to do” list for your business to help you better compete in 2010. Looking for even more suggestions? 

Check out  the “Inside Output” column, "Wagging the Dog,"  where Craig Miller has proffered up his own list for 2010.

Making a difference
One, market something new: During this year, figure out a new product to sell to your customers. It doesn’t have to be an investment in new equipment. It could be just simply adding another product to your existing capabilities. Developing a new product to sell will create excitement with your customers, with your sales and marketing team, and even your production team. Just make sure it also means adding profits to your business.

Two, formalize training: Most of us have some form of leadership training for our organizations, but all too often it’s done on an ad-hoc basis. Make 2010 the year you institute a structured training program that will continually develop your leadership team. Begin by scheduling the training once per month if possible, or at least once per quarter. I have found that when you schedule training as a recurring and structured event your employees will realize you’ve made a commitment to training and will become much more involved. Occasionally, invite guest speakers from outside the business to share some fresh approaches with your team, and invite your own managers to participate in the instruction. Committing to a formalized training program and sticking to it will make a difference in your management team.

Three, create a budget and use it: As you enter a new decade, what better time to commit to a budget and then use it? This will be a challenging item on your list but it can reap great rewards. By creating and sticking to a budget, you’ll find that you have greater visibility of where your business stands than ever before. It just takes a strong commitment to make it work.