As the world continues to come to terms with the fallout from these unprecedented times, we are facing lots of uncertainty. Many of us are learning and adapting as we go and are coping really well, despite the global economy being in jeopardy.
But this is no time for complacency. Consumer demand will be challenged for the foreseeable future, encouraging consumers to be more discerning about their spend. That means that businesses need to be mindful of protecting their market share and margin in a new world. However, when under pressure, businesses often become very operationsfocused with heads down all the time. We are all in danger of knee-jerk reactions, leading to mistakes, poor practices and dangerous norms.
To prevent this, I’d like to bring you back to the basic principles that are essential to help you tighten up your business model. This will give you the best chance of success.
The 7-steps to profit
1. BRAND DNA: FIND YOUR NORTH STAR
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