Dark clouds, silver linings
PSE columnist Bill Sanderson believes that aiming simply to “survive” during the
deepening economic recession is the highest risk strategy of all
NPARALLELED 1. Cash is King goes the cliché. 7. Beware who you listen to.
TURBULENCE! Look for as much cash as you can The national media will dramatise
Bubbles bursting find in your business and harvest it. and exaggerate the gloom and doom
simultaneously in So many suppliers are in desperate to boost their circulation or viewing
property, share need of business that negotiations figures. Take it with a pinch of salt.
portfolios, equities, commodities, from the standpoint of cash availability This isn’t the first recession and it
hedge funds and private equity. will deal you an incredibly powerful won’t be the last. Good business and
Those suffering as much as if not hand. You need only look at your good managers have been here before
worse than the rest are the financiers: local car dealership to see what they and come out the other end with a
the very “experts” who are supposed are prepared to do to move stock to powerful business model. It’s not fun
to understand how the system works; cash buyers and that’s before you start nor is it easy but it can be done - we
the ones who we are supposed to negotiating. know that.
trust (remember those “independent 2. Be more productive. 8. Watch out for the ‘gloom and doom’
financial advisor ads?). Do all the little things that can visitors to the pro shop.
And what about banks - those improve your productivity by a couple They will happily tell you the end
institutions which for generations told of percentage points and you will of the world is nigh. Listen politely
us how safe they are while racking up significantly improve your overall yield. then ignore everything you have heard.
billions of pounds of profit, especially 3. Bargain hard with everyone. Replace their poverty-stricken outlook
in the last few years? Accountant or bank manager, with a positive one of your own and go
Well there is nothing you can do supplier or service provider, do not to work on that.
about all of that, so deal with it and get accept anything at face value, especially 9. DO NOT aim to SURVIVE the
on with what you can manage, what in a business-to-business relationship. recession.
you can influence. 4. Cut costs and waste. If you aim for survival and just
Institutions by their very name are But don’t throw the proverbial miss your target where will that leave
supposed to be as safe as houses. Oops, baby out with the bath water. Costs are you? Dead in the water. Survival is the
there are two casualties in that one measured through time, effort, energy highest risk strategy. Just as playing
sentence! Our faith is shattered and we and money. Check your inventory. for a draw or setting the objective
don’t know who to trust any more; and Look even harder at every product line of playing for par at every hole is an
we need to trust someone or else life and make sure it is paying its way. Get invitation to disaster in sport.
gets very scary indeed. rid of the ones that are not moving. 10. Aim to THRIVE.
What about your energy use? What That is a comparative term and
Trust generates business about supplier terms that were agreed it means aim to succeed within the
No one can be trusted, except in another economic time zone? You conditions that you are trading. Be
perhaps you – the PGA pros at golf can probably improve the payment realistic and be positive.
clubs throughout the UK and Europe. terms with a short discussion.
Now is the time for all that brand 5. Don’t fall for the 10% cut on Look out for the seminars I am running
image stuff I’ve been going on about everything. during February and March at a limited
for years to start really paying its way. Ignore the advice to trim back on number of venues. They will show you how
We all need something to hold on everything. As always some things will to do all of this and much more that is
to in these “turbulent” times, and with work incredibly well, especially right practical, proven and profitable for your pro
so many people and organizations now, and may well justify an increase shop and golf club. Only 20 per session this
showing they cannot be trusted here in expenditure. If it’s productive and time so that I can personalise the content to
is your opportunity to remind your works for your pro shop, invest in it. If match delegates’ circumstances. If you want
members of the total trust they can not get rid of it. to make an advance booking, email me now
have in you and your pro shop. 6. Don’t go into a negative mind set of on firstname.lastname@example.org
‘cut and reduce’ across the board.
Management Action Be businesslike and objective.
Some of the key management Whatever is happening out there, don’t
functions are now taking a higher let it create the negative emotion that
priority than ever before, so here is a unbalances your business judgment.
10-point checklist of how to approach Focus on your pro shop or golf club
2009. and do what is right for you.
y 2009 PRO SHOP EUROPE 7
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