The BPIR.com and recession proofing your business

October 20, 2009 by

How has the recession affected your business and what are you doing about it? With the current economic climate organisations everywhere are thinking one thing: “How can we survive the recession?”

There are a number of ways your business can survive the recession. Some positive (reducing costs, optimizing, expanding), and some negative (layoffs, downsizing). Either way the BPIR.com can help you to research ideas and provide information on best practices for successful implementation.

The strength of the BPIR.com is found in its vast amount of content in the form of research and case studies, and the fact that it is all accessible by keyword searches. Our research can help to prove or disprove your current plans, and you do not have to reinvent the wheel but refer to case studies from award winning industry leaders.

If you haven't already – why not join the BPIR right now? Our resources will not only help you to get through the recession they can also help to take your business to the next level.

As a follow-up to our previous post on the telecommunications industry , check out the snippet below from one of our many cases studies.

 


Digital Island Communications in New Zealand

The following is a refreshing account of some well earned success achieved by Digital Island Communications in New Zealand. DI are a top ICT company that provides internet & data services, toll calling, phone lines & systems, mobile phone services, conference calling, phone cards and fax-to-email services. They were also winners of the Deloitte Fast 50 "Fastest growing technology company in 2008", and "Fastest growing telecommunications business" award in October 2007.  Ruth Le Pla [1] in NZ Business magazine writes that in a slowing economy DI was losing a lot of revenue and to overcome this it worked at improving its total operations and closely examined its underlying business model.  As a result instead of retrenching this led DI to make the following improvements:

  • Carrying out a re-branding exercise in order to put a new sparkle into its image,
  • Examining the products offered and eliminating poor performers,
  • Dropping some suppliers and picking up new ones as appropriate,
  • Proactively offering key customers better prices i.e. reducing costs!
  • Assigning additional staff to focus on loyal customers,
  • Improving service levels,
  • Leveraging technology by implementing sales-force software and efficient document management systems,
  • Implementing cost reductions by targeting areas where the greatest impact and maximum gain would be achieved and not by “nit picking”,
  • Managing debtors closely by following up personally on the 21st of the month.
  • Communicating well internally so that staff were always in the picture,

 As a result of these actions Digital Island achieved more than 25% revenue growth for the 2009 financial year. Blair Stewart of Digital Island said that "When times become tough, you need to make better decisions faster than ever,” and offered the following advice for achieving growth:
 

  • Stay in touch with cash flows.
  • Add value to customers.
  • Personalise offers.
  • Develop ways to up-sell.
  • Carry out contingency planning.
  • Work closely with key suppliers and banks developing a relationship of openness and honesty.
  • Guide customers through sales processes and keep them informed, customers value the experience just as much as they value the result.
  • Don't read newspapers. They spread negativity.
  • Be positive. (The attitude projected by management teams has an incredible effect on an organisation.)

  [1]  Le Pla, R., (2009), The tough get going!, NZ Business, Vol 23, Iss  6, pp 24-28, Adrenalin Publishing Ltd., Auckland
 

 
Members may read the full article (click here)   which provides further helpful tips regarding three organisations that have bucked the trend by rising against the recession.

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