Dec 30, 2009
Despite Recessions, Business Growth Only Places Second As Goal for New Year
Despite recessions, business growth only places second as goal for New Year
This is part of the series, Top business resolutions for 2010.
When Max Impact surveyed entrepreneurs for their 2010 business goals, they expecting that in a down economy the number one answer would be business growth. However the specific goal of growing a business came in second place. Nevertheless, many businesses have some interesting thoughts about growing their businesses. “By not being the top category of resolutions,” says William Williams of strategy and leadership company Max Impact, “there is an indication many companies are still in survival mode.”
Survive or thrive
This is not how Joseph Grenny of Vital Smarts looks at business. “At the beginning of 2009, we made a strategic decision to lean into the headwind rather than hunker down.”
Other companies that have pressed on in spite of the economy have seen business growth. Casey Arisohn, the 26-year-old CEO of Radii Footwear, a high-end sneaker line based in Los Angeles, has already seen sales growth and is resolved to keep the growth going. Arisohn admits, “It doesn’t hurt when celebrities like Jay-Z and the Black Eyed Peas swear by your brand.”
Nancy Wright, President of Blue Plate, one of Chicago’s most successful catering and food services companies, credits their success to remaining positive in a troubling economy. Wright says, “We have created new opportunities in the marketplace.” Nic Soto of family owned Public Relations Depot in Chicago, is also going contrary to the survival mentality. Soto plans to “re-evaluate our products and see where we could improve or possibly add new services to help maximize client success and reach.” Going against the grain paid off for Grenny. “We grew through 2009 and believe we’re poised for substantial growth in 2010,” he says. Blue Plate’s creativity will continue to spur growth. Wright says, “As a company that was built with a strong entrepreneurial spirit, we are strategically looking at new market segments and partnerships that will grow our business in 2010.” Of course some companies are seeing recovery signs in business news. Curt Finch, CEO of software company Journyx is “betting on an improving economy and ramping up our energy and focus in the main area where we have a strategic, sustainable competitive advantage: a lower cost solution.”
Diversify
Jillian Zavitz sees diversification as the answer to the economy. At Talk To Canada they are committed to diversify their client base. “Not putting all of our ‘eggs’ in one basket/contract and to get those other big fish out there,” is Zavitz’s goal.
Yodle is a local online advertising company working with small businesses. CEO Court Cunningham sees the current economy as a time to prepare for the economic rebound. “We are investing in more rapid innovation so when the economy turns we can come out ahead,” says Cunningham. Part of Yodle’s sales growth is a culture combining “questioning authority to make the best decisions and promote innovation with strict accountability to our goals and mission,” according to Cunningham. “As we grow through 2010, being able to maintain both of these things, our commitment to the most innovative technology and a strong connection to our culture will make the difference for us.”
Cheryl J. Leone of the Catalyst Group in Raleigh is more cautious. “I will make no expenditures . . . without asking myself this question: Is it a want or a need!” It is great advice once you realize you need to grow. If the economy remains weak, mergers and buy-outs are a great way to build sales and reduce expenses. Mike Fogarty, founder of Kokopelli Communications, an independently owned creative agency, wants to “Evolve with the economy of consolidation.” Lori A. Cheung, The Pet Photographer, also sees joint ventures a viable way to build sales. She will “create joint ventures with my pet photography and eco-friendly pet products business with companies that create innovative products and services in the $41 Billion U.S. pet industry”
Other growth ideas
Kenneth Purcell is CEO and Founder of the New Orleans based tech leader iSeatz. As Louisiana’s fastest growing private company and Inc. 500 company for two years in a row, iSeatz has a client list that includes Delta, MasterCard, Priceline and Air France-KLM. Purcell is looking to the global marketplace to sustain growth. “By doing so, create new jobs, sustain iSeatz' rapid growth and bring global attention to my hometown of New Orleans.” For Laura Vatalaro of LV Graphics Studio business growth will come from social awareness. She believes “bad practices and bad business need to be replaced by conscientious thinking and benevolent business strategies.”
Murali Subbarao, CEO and Founder of Billeo, will build sales through customer connections. “I hope to spend 10 to 20 percent of my time with customers in 2010.” Jack Abraham, Milo CEO and Founder, is building on last year’s resolution. “Last year's resolution was to get a million users to Milo.com. This year’s resolution is to get to 10 million!”
Tina Wick of Green Purse plans “reformat our approach to selling our products to boost sales.”
Published In: Examiner.com
