Eamonn Lawless Success in Business and Management

A Happy New Year?

It isn't easy to predict economic outcomes for 2012. Emigration, unemployment, cut backs, austerity  - it seems to be all doom and gloom!

But 86% of of the working population are still working. 100% of the population still have to be fed and clothed. Whether the economy grows at 2% or 1% hardly makes much difference especially since the figures aren't accurate anyway. So don't let the big picture overwhelm you. Look at the smaller picture that you are a part of.  

Concentrate on your own business. Look coldly at how its performing and remember "if you keep doing what you are doing, you'll keep getting what you're getting" . Are you clear about where you are in terms of cashflow, profitability, indebtedness etc. What is your cost profile - does it make sense compared with your turnover and margins. Get on top of the numbers.

Be clear about where you want to be in 12 months time; be informed; be realistic; be prepared to make tough decisions; be prepared to scrimp on everything if that is necessary for survival; be open to new ideas.

Look at all your options. Contract, expand, change the way you do business, shed unprofitable business and customers, shed unnecessary costs.

Talk through your issues with a trusted advisor or a business coach. Be prepared to take action. Don't just sit there - do something!