Christmas is coming. Don't wind down just yet...

By Nikita Tomlinson

Ah, the smell of ‘almost’ summer, Christmas decorations filling the shops, the countdown to 25 December, festive get togethers…

It can be easy to get caught up in the wind down.

The last few years have brought both challenge and opportunity to business, and the coming year will be no different. Interest rates are high, inflation and wage pressures are squeezing margins, and the consumer wallet is pinched. Despite the transition to a new Government, there is still plenty of doom and gloom if you look around for it, and as Cam Bagrie shared at our latest On Point event – an upswing in business outlook doesn’t mean a change in economic outcomes.

There are some key themes that I am noticing in business this year that appear to be making an impact. These themes aren’t new, but the economic climate around us is amplifying the results of these behaviors -  

Reading the Signs
Knowing the numbers, measuring the leads, disciplined reporting. Every business is different, but those that are on top of their sales results, their margins, their overall profitability and their cashflow are equipped to make the best decisions possible. There is no head in the sand mentality, and they monitor the orange flags and make decisions when the flags are red.

The Hustle
The post covid heat has come out of the market this financial year, with most industries starting to feel some impact. This has meant a combination of less leads, longer conversion timeframes, and lower conversion rates. Businesses that are achieving (and smashing) sales targets are hustling. They saw the signs early, and they hustled. They focused on more calls, more time on the road, opening up new customer bases. They hustled. Most important, they hustled more than the next guy.

Courage Pills
There is great opportunity for those with an appetite for risk – Cam Bagrie calls it “the fun” being back in business. The potential reward is real, but so is the risk associated with it. I am seeing courage pills taken for two very different reasons, the first to leverage the opportunity and the potential reward that is on the table. The second being to prepare the business for choppy waters. This may involve rightsizing the business, stepping into new markets, trimming the fat.

While the countdown to Christmas may be on, there is still time to assess where your business stands on these themes.

How disciplined are you at reading the signs?

How would you rate your hustle?

Is it time for some courage pills?

If you want help finding the answer for those questions, get in touch. We'd love to help and we can book you in this side of Christmas!