How to survive & thrive in an era of unprecedented change
In 2024, running a business in NZ is fraught with challenges due to the lingering impact of COVID-19, global uncertainties due to war and recession, and rapid shifts in consumer behaviour and other market dynamics.
The pandemic has given rise to "zombie" companies - businesses that were on the verge of insolvency but had managed to stay afloat with the help of government support.
In 2024 and beyond, don't be surprised if we see a tsunami of business failures.
Historically half of all New Zealand businesses fail within 10 years of start-up.
For family run businesses the stats are even grimmer as an estimated 70% won't make it to the 2nd generation. The business will either cease to exist or be sold off.
To survive AND thrive has always demanded resilience, adaptability, and strategic agility.
Today that is simply not enough.
You probably know this or at least your intuition is telling you things are very, very different.
I'm not talking about supply chain issues, or geopolitical tensions, whether Ai will destroy humanity or if climate change will doom us all.
The biggest threat to most businesses right now, is the change in consumer buying behavior.
Difficult economic times create uncertainty and this has a huge impact on consumer confidence. Usually confidence returns as economic conditions improve.
This time it feels different.
The extended lock-downs during the pandemic in NZ made many people reassess their buying habits.
People are more wary, are less trusting of authority, let alone marketing and sales-people.
You've also probably noticed your competitors are relentless and are targeting your customers more aggressively than ever before. Like vultures They're looking for any weakness and the opportunity to take your customers and damage your business.
In a ruthlessly competitive market, differentiating your brand is essential, unless you believe you could win a price war.
Price is always the last resort of the undifferentiated, so if you want to fight a price war, best of luck because we can't help you.
But if you want to truly differentiate your brand, we can help you do that and sell more products/services more often to more people.
If you want to grow your business in 2024 or you're simply curious to know more, book a free sales strategy call with me now.
In 2024, running a business in NZ is fraught with challenges due to the lingering impact of COVID-19, global uncertainties due to war and recession, and rapid shifts in consumer behaviour and other market dynamics.
The pandemic has given rise to "zombie" companies - businesses that were on the verge of insolvency but had managed to stay afloat with the help of government support.
In 2024 don't be surprised if we see a tsunami of business failures.
Historically half of all New Zealand businesses fail within 10 years of start-up.
For family run businesses the stats are even grimmer as an estimated 70% won't make it to the 2nd generation. The business will either cease to exist or be sold off.
To survive AND thrive has always demanded resilience, adaptability, and strategic agility.
In 2024 and beyond, that is simply not enough.
You probably know this or at least your intuition is telling you things are very, very different.
I'm not talking about supply chain issues, or geopolitical tensions, whether Ai will destroy humanity or if climate change will doom us all.
The biggest threat to most businesses right now, is the change in consumer buying behavior.
Difficult economic times create uncertainty and this has a huge impact on consumer confidence. Usually confidence returns as economic conditions improve.
This time it feels different.
The extended lock-downs during the pandemic in NZ made many people reassess their buying habits.
People are more wary, are less trusting of authority, let alone marketing and sales-people.
You've also probably noticed your competitors are relentless and are targeting your customers more aggressively than ever before. Like vultures They're looking for any weakness and the opportunity to take your customers and damage your business.
In a ruthlessly competitive market, differentiating your brand is essential, unless you believe you could win a price war.
Price is always the last resort of the undifferentiated, so if you want to fight a price war, best of luck because we can't help you.
But if you want to truly differentiate your brand, we can help you do that and sell more products/services more often to more people.
If you want to grow your business in 2024 or you're simply curious to know more, book a free sales strategy call with me now.
