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Monday, November 24, 2008

Planning for a better future in the middle of economic crisis

Every day seem to bring another story of failure. Another big company is going under. Thousands of employees are laid off. Trying to plan for a better future in this environment is very hard. We were going to do our plan in 2 days, but it was difficult to put our hearts and minds into it. Eventually we did come with a plan this week. It builds on our assessment. Another criteria that we added to it - it has to be cost effective and cheap. Return on Investment (ROI) has to be quick. So here is a short summary of our plan.

Mission Statement: Find new ways to approach new customers, new markets and still continue to provide excellent service and products to our base - chemical companies. Do all of it in a short time frame (2 months) with minimum expenses utilizing all of our assets.

a. Transfer - Apply our knowledge and experience to other industries. Expanding our products and services accordingly.
b. Identify and Target new markets - Shift our concentration. We have worked in the past with companies that use warehouses and need to keep track of inventory. They have a need to print labels with barcodes from their existing databases and warehouse/inventory software programs. They also need the hardware to go along with it, such as barcode printers and scanners. This is a perfect fit.
For that matter anyone needing labels with product information will be a good fit. Expand our offering through cooperation with complementing companies:
a. Approach manufacturers of hardware and software that serve warehouses and track inventory. Thus, expanding what we have to offer.
b. Team with companies that already service the industries we are identifying. We can help each other by referring customers to each other, working together to provide customers with a complete solution.
c. Modify DrumWizard UPM to easily integrate with other software to enable sophisticated label printing requirements. This can come in two basic flavors: as an add-on or as an approved external program that can be called through a command line.
d. Marketing - In the past, companies approached us. Now, we have to let companies know who we were and what we could do for them. Time line: 2 months Side note: Marketing will require a whole other plan.

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