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| Talking insurance |
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So - thought I'd escaped insurance when I left the corporate blanket...but the lure has proved too much.
That, and the fact that clients ask about insurance, especially when looking at their Business Continuity
requirements;
or want to be sure they're fully covered; or simply looking to save cash.
Oakview has been approved as an Introducer Appointed Intermediary to a major broking business. I can't advise, but I can put you in touch with those who know what the answer is. Even if you don't really know the question...
Call or contact Oakview Consulting TODAY. |
| BT: and a price promise |
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Are you supplied by BT? Are you aware that their prices rise effective today? Would you like to receive a free no-obligation quote from a recommended supplier to OVC?
Call or contact us, and think about saving on your telecom charges.
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ibd |
ibd is an international network of business advisors offering a wide range of skills, giving you access to a huge business support capability. it means that whatever your business needs, someone qualified and quality-approved will be able to help.
Oakview Consulting is proud to be part of the ibd group. Visit ibd for more details. |
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Greetings!
Nope - not more doom-mongering...more a reflection that we've (nearly) reached the end of one of the worst years of economic performance for a very long time.
If you've reached it intact, and the chances are that if you're reading this, you've survived in some form, then you should be pleased. Many of you will have suffered falling sales, lower profits, lost customers, and missed opportunities - and the cashflow struggles that go with it. Others have been able to capitalise on opportunities caused by business failures, often through being flexible enough and quick enough to change. And willing to change quickly, too.
So, whatever 2010 brings, whether recovery or the feared 'double-dip', Oakview Consulting wishes you well, and looks forward to working with you next year.
Above all...there's a new beginning looming. WIll you be ready to take it? Read on for some ideas to make your business productive, proactive, and primed... |
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A little over twelve months since the 'credit crunch' caused a logjam in and then withdrawal of credit insurance facilities, and despite billions of pounds of Quantitative Easing, the position is still challenging, with many companies continuing to suffer.
Without doubt, a substantial number of businesses find it impossible to get credit insurance, and whilst others can get some cover, it is often on barely acceptable terms. Many are forced to find additional working capital to pay suppliers upfront, at a time when resources are already stretched to capacity - we've even heard that some major businesses (including FTSE 100 firms!) are managing their cashflow to the detriment of smaller firms. Ruthless FDs are forcing some suppliers to wait longer for payment, or 'agree' discounts for payment.
The government had an answer, providing some capacity, but sadly a completely ineffectual solution. Like some others we could mention...
It's a complex subject, but Oakview has connections with innovative Credit Insurance brokers - contact us for details of who might provide Credit Insurance knowledge and capacity currently denied. Or, if you have it, maybe you can find it supplied in a more cost-effective manner.
Else, you'd better ensure your Business Continuity plans are up to date. And tested... |
Survival of the most fit for purpose...
 Even without remembering it was Darwin's anniversary this year, the economy has shown that those most fit for purpose are more likely to have survived 2009, and be set to prosper in 2010. No dinosaurs here...
Research from Kingston University has unearthed several success stories with similar characteristics - worth considering as you think about your challenges in the next twelve months, although in truth you shouldn't wait until 1 January to resolve to change... Those results:
- 93% actively took steps to change the way they approached new business development, and customer retention. The web helps - are you using Google Analytics, SEO, and Social media properly?
- 88% have cut costs - and the last twelve years allowed some extra weight to be carried. Is your diet effective, or could there be more to cut;
- 58% introduced new products or services. Customers are facing their own challenges - have you made changes to your offering to acknowledge their difficulties;
- 58% (sic) worked longer hours, and increased personal productivity - not always a correlation, but many businesses suffer from lack of employee motivation, or worse perhaps where redundancies have been enforced. Is your culture right?
Too easy to point to others, because your business is different. Sure, but how different is the challenge...and what will you do differently next year? |
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Is 'best practice' actually the worst option?
 A phrase I've come to dread, both in my previous 'corporate' existence, and now in my consulting practice. It's an easy answer to production or quality problems. Except...
...that 'best practice' is rarely the right approach, and often not even feasible. Those demanding this panacea should:
- Challenge - is the answer 'best practice' anyway? Who says so - and if it's the consultant, what is their experience. Get the data which proves that what they say is right, actually is borne out in practice; the evidence which proves or otherwise; and understand the difference between claim, and delivery;
- Think - is the 'answer' going to be right for you? Many businesses identify successful competitors, and simply copy what they see. Two problems: firstly, can your culture can cope with it; secondly, you don't know what you don't know. Thanks to Donald Rumsfeld, that phrase has become hackneyed, but if you don't know what's really underneath 'their' success, you won't get the same result;
- Consider - is it right for the moment. The economy and markets are changing so much and has done so often, that what was 'best' last year may not be right this;
- Calculate - is it likely to show a viable return on your investment, and make the upheaval worthwhile? The 'best' may be so expensive and not needed or wanted by your customers that you're wasting money. And time. And possibly even credibility.
That's not to say you couldn't be better. What kind of consultant would I be if I thought no-one could improve. We all can be better - and you should choose 'good' practice or 'right' practice or even simply 'satificing' clients, if that is right for you. Right now.
Whichever road you choose, make sure the destination is right for you. |
Be positive...be prepared
Business Continuity. Just the phrase makes CEO's eyes glaze over, and FDs reach out to close their cheque books. All they see is actual cost against possible savings if, and only if, the organisation suffers a disaster. And in these straitened times, the debate is over.
But in reality, the debate should be just beginning. For when undertaken properly, using the Good Practice espoused by the bci codified in the increasingly internationally recognised BC standard BS25999, organisations should see competitive advantage and potential cost savings even disregarding any potential for disaster.
For example:
- Olympics 2012 - Tessa Jowell has confirmed that contractors to this massive event will need to have BC plans;
- Public Sector procurement - increasingly Tier 1 bodies are demanding that their suppliers have tested BC plans, some even to BS25999, and that demand is cascading down through Tier 2 and Tier 3 suppliers, too;
- The Turnbull report recommends governance standards, including risk management and BC plans;
- A good Business Impact Assessment process can identify potential procedural savings, risk elimination or avoidance practice, and inform good risk management practice;
- Insurers are often impressed by BC plans to the extent that well-prepared processes cvan lead to better programmes and even lower costs.
So - why wait - speak to your provider for an assessment of your position, and the opportunities that await. | |
...in closing...
It's been an interesting year - not least for me in setting up Oakview Consulting after thirty seven years in 'corporate world'.
However, so pleased I took that challenge, and am looking to 2010 with confidence - having taken and lived through many of the issues I've tackled in these newsletters, not least the need to focus on business development and retention. Along the way I've been able to adapt to market conditions and client demands, and whilst it's easier for a 'micro' business, it is also what larger 'SME' businesses need to do!
If we don't speak before (and why not...) have a great break - only three weeks until the Christmas shutdown! Unless you're an SME or micro-business, of course.
Regards
John Wade
John Wade
Oakview Consulting Ltd |
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