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Home > My Thoughts, Strategy > 2010: The year of exploring new avenues.

2010: The year of exploring new avenues.


Every one knows what happened in the year 2008 and 2009. The analysts have made thread bare discussions and post-mortem on the economic downturn. Now, when the economy is looking up, the businesses are again gaining their senses and gathering their strengths back to climb up the crest.

The climb, though exciting, will not be easy. The large organizations have already started making strategic alliances and partnerships to be prepared for the upturn. The smaller players are also pulling up their socks. Over the last few months, I have made a list of recommendations (mostly for small players) that will help them to gear up and make the most of the upturn:

1. Look for options: This is to make sure you don’t just jump on to the bandwagon in anticipation of success. Make sure that the bus is going in the right direction and at right speed before you decide to ride it.

2. Know yourselves well: The downturn has given companies a lot of time to retrospect, but still make sure you know waht you are good at and also know very weel what you are not good at. This will help in increasing the number of successes and decreasing the number of failures.

3. Alliances: Enter into a strategic alliance. Try to make an ecosystem around the customer so that when the customer identifies a requirement, he does not have to wander far and wide for a solution. Step forward and tell the customer that you can deliver it, if not, one of your alliance partners can deliver it.

4. Have a look at emerging markets: By emerging markets I do not mean the emerging markets like India, Brazil etc. , what I mean is look for a market of requirements. There will be lots of unment requirements and if you are an innovator, target the latent requirements of the customers.

5. Keep a track of your dollars: By this recommendation I mean, keep a track of the in-flow as well as the out-flow of cash. Cash in-flow (that too only from operations) is the real wort of the company. The economic downturn has put a lot of pressure on the fluidity and liquidity of finance options. So, make the best use of the money at hand!

These are just a few of the important observations that I came across in last few months. There are many other things organizations should take care of in the oncoming upturn, but, I thought of sharing just a few important out of them. 

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