The market forces (even though economic recovery is sluggish) have been very kind to the majority of us through 2012.
However, 2013 is a brand new year and the recovery will probably continue at a very slow pace for almost every industry in distribution. The success and recovery from 2008 & 2009 we have enjoyed may not be as easy to accomplish in 2013-2014.
Past successes may have camouflaged internal problems and annoyances that could become a crisis in 2013 under different circumstances.
My message to business leaders is simply --- "In today's environment -- Average just isn't good enough!"
Continued recovery in 2013-2014 isn't enough; we must maintain acceptable levels of growth and profitability --- a goal that I am sure is shared by virtually 100 % of the individuals and companies that read this article.
So, lets review some principles that can help us maintain our focus, uncover some of those sins that may have become covered by profitability and create the kind of success in 2013 that you can be proud of:
- Go back to basics in managing your business
- Understand your role in the market place
- Develop or refine your strategic plans
- Create branch and operational plans that are alignment with your strategies
- Continue to develop and train employees (Don't scrimp here)
- Upgrade your sales force and all support services
- Manage your inventory
- Understand and manage your cash to cash cycle
- Insist upon sales territory plans that target accounts based on potential for growth
- Create change based on changes in your markets and your industry
More than ever before, 2013-2014 will demand of most companies the ability to achieve measurable results that are specific to profitability, growth, cost containment and operational effectiveness.
Of course, none of this will be possible without leadership and change.
Rick Johnson, expert speaker, wholesale distribution's "Leadership Strategist", founder of CEO Strategist, LLC a firm that helps clients create and maintain competitive advantage. Need a speaker for your next event, E-mail rick@ceostrategist.com. Don't forget to check out the Lead Wolf Series that can help you put more profit into your business.
