Welcome to the first new-style email newsletter from JFP Strategic Planning. In this and future newsletters we aim to inform you about some of the work we are doing, highlight new and existing clients and give you ideas on improving your on and offline strategic planning.

WHAT YOU CAN DO TO HELP IN A RECESSION

We have done some research to see if there are any nuggets of advice from previous recessional experience. It would be easy to wax lyrical, so we have reduced this to key points to stimulate your thought processes.

• Plan for it – the present situation has been forecast for some time. It is never too late to plan. It helps cope with the unexpected.
• "Cash is King”. If possible ensure you have ample liquidity - you should be running a detailed cash flow projection over these difficult times.
  Cut out all non-essential purchases
  Reduce staffing to a minimum
  Reduce stock levels
  Consider selling surplus assets to help liquidity
• Reduce your cost base as far as you can without damaging your service levels.
• Have an effective debtors policy and make sure clients and suppliers are aware of it.
• Use outside experience If you are lacking experience at Board Level, look to finding appropriate non-executive advice. It can be a very worthwhile cost.
• Make sure you are providing strong operational management and leadership.
• Make sure your management process and communications are robust and consistent.
• Be flexible in your objectives.
• Spot the small opportunities.
• Utilise to the full the knowledge and energy of all the management. Give them full rein.
• In a Survey of the 1989-92 recession:
  Only 18% of businesses increased their sales each year
  Only 8% of businesses managed to increase or maintain their profits
  The best performers (most resilient) were in the South
  The best performers were services and financial
  The worst performers were property and construction
  Everyone surveyed said that “luck” played an important part – remember that by doing at least some of the above you can “make your own luck”

NEW CLIENTS

Since our last newsletter, we are very pleased to welcome a number of new clients: Squirrels, importers and distributors of food and drink; Scanplus, a printing business based in the City of London; and Alpha Browett Taylor, a private and independent practice active in all aspects of the property market throughout the UK. We look forward to a successful relationship with them all.

NEW PARTNERS

Norman (Norrie) Jackson
It is with real pleasure that we welcome Norrie Jackson to JFP (on right of picture). He went to school and university (Business Studies) in Edinburgh before moving to London and qualifying as a Chartered Accountant with Ernst & Young in 1973. He then joined Scottish & Newcastle Breweries for three years as a Finance Director of one of their subsidiaries before spending seven years with Mobil Oil, working in the USA, West Africa, the Far East (mainly Japan) and New Zealand.

For the last 25 years he has been Richmond-based, working on his own account and with others as a Business Adviser and Non-Executive Finance Director to small and medium sized businesses (SMEs) in a wide variety of industries including property, recruitment. IT, publishing, mail-order, electronics and sports and leisure.
Norrie has known John Fairley for a dozen years through the London Scottish Rugby Club, where they are both members – and carrying out the same type of work; it seemed logical to join forces.

An all-round sports enthusiast, Norrie is Chairman of Strategy & Planning of London Scottish and a Director of London Scottish International, which has just raised £1.5 million from investors to help take the Club back to the higher echelons of English rugby.

We are hoping to take additional partners during 2009, which is an exciting development; it will give us an even stronger skills portfolio.

EVENTS

In October, we held a very successful and enjoyable Business Networking Cocktail Party at the Royal Military College Sandhurst. Everyone said it was good to see some old friends and make some new ones.

We are planning to hold another Breakfast Seminar at the Royal Military College Sandhurst on 24th March 2009. Our Breakfast Seminars are always very popular and attract many local businesses – this will be the seventh one we have held.

CREATING A STRATEGIC PLAN

On your Strategic Planning Day you will use your business information and our planning tools to put together a strategic plan which identifies your goals and objectives along with a clear set of actions and detailed financial projections, to help you succeed in the implementation of the plan. It will keep you on target with an ongoing review process.

www.jfpstrategic-planning.co.uk/presentations/SPT_bus_Presentation95.pdf

RISK MANAGEMENT

Have you considered the risks facing your business? We can help you to explore risk potential and plan to mitigate it. Action and budgetary impact tools help prepare achievable plans. The result of the risk management exercise is an increased sense of security on both a personal and business level.

www.jfpstrategic-planning.co.uk/presentations/RMT_Presentation95.pdf

IMPROVE YOUR PROFITABILITY!

Attend a one day workshop to work through our profit improvement session. The process stimulates action and plans and budgetary implications for your business. Find out more on our website or email sp@jfpstrategic-planning.co.uk to book a one-day session.

http://www.jfpstrategic-planning.co.uk/presentations/PIT_Presentation95.pdf

10 TOP TIPS FOR BUSINESS SUCCESS

Sometimes knowing what to do is the easy part – it’s making it happen that is difficult!

1. Initiate a continuous strategic planning outlook. Give your business the luxury it deserves and take the time to create a plan. It gives you a vehicle that you can drive at any speed and direction that you choose, because you are in control. You become proactive and not reactive.
2. Get everyone to buy into the vision and the plan.
3. Harness the knowledge of your staff
4. Know your customers and prospects.
5. Improve your processes.
6. Innovate
7. Utilize the skills and competence of your people
8. Focus on relevant information – downside as well as upside!
9. Reduce your overheads
10. Action, not talk!
     

USEFUL LINKS

The latest monthly summary of business conditions in the United Kingdom, as reported by the Bank's Agents is now available.

Below is a link to the document on the Bank's website.
http://www.bankofengland.co.uk/publications/agentssummary/agsum08dec.pdf