Planning for the future
Imagine you're given the ability to see the future. Imagine you can see that in your home town the number of new residential and commercial building constructions will increase by over 400% for the next 10 years. The start date is uncertain, but most likely a gradual increase over the next 12 months.
What goals would you set for your business, and what changes would you make to your business, starting today?
To make the game more interesting think of the changes you could make to your business in terms of the 7 P's :
Product development (Will your product address the new market and is now a good time to invest in product improvements)
Pricing (What volumes will you sell at what margins)
Placement (Where in the market will you focus your sales effort)
Promotion (How will you advise new and existing customers about what you do)
Packaging (What services will you offer around your product and service)
People (How will you motivate and hold your best people, and how will you recruit)
Process (Will your processes meet your future needs)
Physical presence (What are the non-product things which your customers will see)
This is the challenge offered to the glass and window industries in Canterbury following on from the series of earthquakes and destruction of the last 14 months. Interestingly the number of glass and window companies which have made radical changes to their businesses is quite low.
If it were up to you, what would you do?