Business Continuity
Transcript: To avoid this, as a company and Managing Director, we must look more in depth at why we have started our business, what are we trying to achieve and how we can achieve what we have set out to. We will review our Points of Sale and compare ours to other businesses, mainly IT companies, to ensure we are getting noticed equally or more than our competitors. As a company, we must ensure that there is sufficient support for management, and there are checks and balances in place. For example, one thing which we now have is a Personal Assistant who is a great aid to the Managing Director and has helped with much of the planning. Another measure which we have put in place is a monthly check on how we operate. For example, we working to all of the Legal and Ethical rulings as well as the operational guidelines we have set ourselves. What do we do? Lack of POS We can ensure we have a site which can be easily located and identified, however, we will have more of a virtual presence which means that we do not have to worry as much about our location. The key to overcoming these problems are really simple and should be the building blocks of the business as they are just as important as the idea, in order for the business to operate. Like any project, if we lack in planning, the whole project is useless. This was proved by the Chaos Report, 1995. To ensure we have sufficient planning, we will ensure we have the correct criticisms and take on advice given to use from Business specialists. If Combuild was to fail in selling products, here are some of the things which we can do to ensure we continue to trade: • We can continue to upsell customers and draw them in with new deals and products • Reduce our services if they aren’t being taken out by customers • Look to fundraising by selling related products (which we may get products to promote an energy company for free) • Relocate/downsize Location We can overestimate what the costs will be and underestimate our profits, as well as use a Capital Calculator( http://www.businessknowhow.com/startup/startup.htm ) to ensure we will be making a sizable profit. Insufficient Capital Starting a Business for the wrong reasons We will not need to worry about over expansion for at least the first six months, as we do not intend on expanding. However, we may look into outsourcing our work to developers across the country, if the price is relatively low cost. Business Continuity How do we avoid this? Poor Management Over expansion A business can fail for 7 reasons, due to some of the key steps being rushed or not done properly. This includes: 1. Starting a business for the wrong reasons 2. Poor Management 3. Insufficient Capital 4. Location 5. Lack of Planning 6. Over expansion 7. Lack of POS Business Continuity Lack of Planning
Prezi Present
Prezi Video
Prezi Design
