RecessionProofChristianLife.com » christian business

Post-Recession and new Business Doors

Bode Ososami — Wed, 20 Jan 2010 15:35:41 +0000

Phillipians 4[5] Let your moderation be known unto all men. The Lord is at hand.

A new lifestyle of moderation is evolving. Recently Yahoo Finance reported in a recent article 17 Ways Consumers are Changing by Rick Newman…to present a new world of moderation and frugality. Some have speculated that when things improve the consumer will go back to lavish consumption but consumer watchers believe this new culture will linger longer than many expect. I wrote a blog post The Post–Recession World and High Growth Business opportunities on the new world and ideas for businesses to consider to embrace the new realities in which I suggested “…The more discerning, sophisticated, frugal consumer will have more options and power…”

The word “Success” is also being redefined – writes Rick Newman in his article. Also more than ever before materialism is being shunned and viewed with suspicion. Another recent news caught my attention on how the luxury royal caribbean cruise liner seen at the Haiti port immediately attracted critical remarks…even as we hear another magnitude-6.1 temblor shakes buildings and sends screaming people running into the streets.

No doubt there is also a new interest in spiritual things out of fear and realization that many creeds seem to have failed and previous metrics of performance found unreliable. Also as digitalization consumerises faith – there are new evangelism opportunities but also serious threats…

Like never before it is time to bring the Lord into the equation of our ministry, business and lifestyle. The Lord cannot be a consultant, adviser or just a helper to achieve what we want or endorse our “ improved” ways. He is King and He wants to reign as He opens new doors to those who seek, honor and fear Him.

I have listed an update of new opportunities…remember you can start small … and it is not about making more money …

Potential Opportunities/niches to consider…

Low cost Food and Agriculture solutions
Employment bureau/Human capital engineering/Re-education services
Security Intelligence and corporate safety
Low end residential real estate solutions
Outsourcing services/Equipment Rentals/Leasing services
Customer Market insight / Data consulting services
E-business Markets leveraging new channels i.e. webs/blogs/social media
Government Consulting/regulatory support/Public sector support services
Recycling of waste / Used goods merchandising
Community facilitation/volunteering management/support
Home/Personal Finance consulting (Debt-free consulting)
Alternative media solutions ( “responsible” audiovisual/radio/web/TV)

Isaiah 11[2] And the spirit of the LORD shall rest upon him, the spirit of wisdom and understanding, the spirit of counsel and might, the spirit of knowledge and of the fear of the LORD; [3] And shall make him of quick understanding in the fear of the LORD: and he shall not judge after the sight of his eyes, neither reprove after the hearing of his ears…

Surrender your life to Jesus and let Him reign in you.

Bode

How to Recession-proof your Business and position for Recovery (Part III)

Bode Ososami — Wed, 07 Oct 2009 23:38:06 +0000

High Growth Businesses are Focused.

In the parable of the talents, we see the lesson in proving yourself first in an area and mastering that space before seeking expansion. Focus could mean starting small and building good systems and working culture before seeking an expansion that throws you in all directions. Most people are deluded to think a large business is necessarily a good business. A large business, on the contrary, could be a monster without a core area of competency and the necessary support structures to manage the business.

Successful businesses keep an eye on the core area of focus. They are focused in their offerings and customers. They classify their customers and can target loyalty programs for their top tier customer group. Focus also means they will exit or turn down attractive deals because of lack of fit.

Focus can be initially costly and slow to deliver growth but soon special expertise valued by the market is built. Skills come with experience and research and innovation soon create the edge that the customer will pay for. Costs can fall dramatically much later as the experience curve delivers new economies that create even more enhanced competitiveness.

What do you do if you find yourself in an area that is no more generating revenue or has lost its attractiveness? Simple – Exit. Focus does not mean to keep backing a loser. Rather it encourages persistence over a long enough time to build reputation, brand and special expertise to enable innovation in an attractive sector of the market. Your focus could be in terms of your product offerings and it could be also driven by your customer segmentation.

Focus does not always mean high costs but must imply exceptional service and the ability to spoil the discerning customer. When experience in a customer segment creates economies that can enable you to be more cost effective – be cautious not to give away value that customers are prepared to pay for. Instead sell value that cannot be easily matched to your target customer tier. As you gain even more experience and capabilities use innovation to diversify to new attractive niches related to your core business. Growth is good when deserved by deep competence and past market success and experience but cancerous when driven only by opportunity.

Matthew 25 [28] Take therefore the talent from him, and give it unto him which hath ten talents. [29] For unto every one that hath shall be given, and he shall have abundance: but from him that hath not shall be taken away even that which he hath. [30] And cast ye the unprofitable servant into outer darkness: there shall be weeping and gnashing of teeth.

The next post will discuss Market Strategy and Innovation. For the full article you can click – DOWNLOAD ARTICLE.

More on God’s perspective on wealth can be found in my recently published book Wealth out of Ashes

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Have a blessed day. Amen.

Bode Ososami

How to Recession-proof your Business and Position for Recovery (Part I)

Bode Ososami — Wed, 07 Oct 2009 23:34:30 +0000

I Kings 18: [43] And said to his servant, Go up now, look toward the sea. And he went up, and looked, and said, There is nothing. And he said, Go again seven times. [44] And it came to pass at the seventh time, that he said, Behold, there ariseth a little cloud out of the sea, like a man’s hand. And he said, Go up, say unto Ahab, Prepare thy chariot , and get thee down, that the rain stop thee not.

ICorinthians 9 [26] I therefore so run, not as uncertainly; so fight I, not as one that beateth the air:

These scriptures help to transition to perhaps more down to earth concerns on how we can grow in a Recession from a business perspective and be positioned to be amongst the new winners. I had devoted more attention in previous posts and my book WEALTH OUT OF ASHES, to the spiritual issues, because it is indeed the spiritual that drives everything else lest we gather our gains in a basket with holes. This article is the first of seven posts focused primarily on important concepts that businesses growing in times of Recession have mastered.

Immediately, the recession was prophetically announced as over, Elijah commands the servant to go and see and look again even as He prayed. Refreshing our vision is therefore the first activity because things are not as they used to be and there indeed may be some even permanent changes in the business landscape. After refreshing our vision, we must execute actions, but not in haphazard directions. We need Strategy and Innovation to propel and constrain our actions to produce growth. Growing businesses also adapt their functional systems to new realities. Let us examine each of these areas as depicted in the diagram summarised as follows:

Refreshing our vision implies the need to pause and relook several times to see the new emerging world and understand new areas of need and business opportunities to target innovation. We need to refocus our efforts on our core business and rebuild long-term orientation with a new mission and objectives as well as set and share new long/ medium range goals and milestones.

Habakkuk 2[2] And the LORD answered me, and said, Write the vision, and make it plain upon tables, that he may run that readeth it. [3] For the vision is yet for an appointed time, but at the end it shall speak, and not lie: though it tarry, wait for it; because it will surely come, it will not tarry.

Strategy and Innovation is achieved by comprehensively reassessing what has changed in our market, customers, suppliers, inputs, competitors, regulation and consider where we now have new advantages or can innovate to build advantage. Businesses grow when they master their market and competitive advantage and reposition to exploit these advantages to the fullest. High growth businesses also use flexible structures (instead of old hierarchies) to respond to a more dynamic business environment.

We need new approaches and disciplines. High growth businesses adapt their systems especially in the areas of how they manage people, and account and manage money. Businesses that grow despite the Recession invest in more marketing to remain visible when others are cutting down – as this conveys strength. They use technology more boldly to drive innovation and maintain their competitive edge. The next post will begin to provide more details. For the full article you can click – DOWNLOAD ARTICLE.

More on God’s perspective on wealth can be found in my recently published book Wealth out of Ashes .