No one in the printing world needs a business adviser to tell them that the economic shifts and the digital evolution are conspiring to make these the most testing of times. While the rise of technology is opening some doors, printers are all too aware that it is also closing others. Businesses that find themselves in the midst of major structural change can start to believe they are alone in plotting a business path through the new environment.
With this in mind, opening the door to one of the experienced business advisers in the Federal government’s Enterprise Connect (EC) program might be the best business decision you make this year. It is also likely to be one of the simplest.
Since Enterprise Connect started in May 2008, it has provided more than 150 printing businesses with a cost-free, end-to-end business review. The program has also provided these businesses with a total of more than $1 million in Tailored Advisory Service (TAS) matched-grant funds. These grants are used to hire specialist consultants to help implement recommendations arising out of the business reviews. TAS can offer grants of up to $20,000 – matched by the recipient – to eligible firms who have completed an EC business review for approved projects.
Now is a good time to seek the kind of external advice provided through an EC business review. While many businesses are keen on the grant funding, it is often the process of sitting down and talking to an independent and experienced adviser that business owners find most valuable.
Advisers will also nominate business practices – such as financial management and especially cashflow; business planning and reporting; and resource allocation – that improve and help the underlying business performance. This will give any business the best chance of survival and, hopefully, robust success.
From this springboard, advisers, business owners and external consultants can discuss ways to create innovative services or reinvigorate existing services to truly build your business for a solid future.
In turbulent times, businesses should revisit basic principles. What is your value proposition? Why do your customers seek you out? What does your business stand for? Quality? Pricing? Customer service?
This will give your business a focus you can weave into the new business environment and, to some extent, weatherproof you against those external conditions over which you have little control.
Tony Shannon is business adviser with the Creative Industries Innovation Centre, Enterprise Connect. For further information about EC, call 13 17 91 or go to www.enterpriseconnect.gov.au. You can also find the Department of Innovation YouTube channel at www.youtube.com/user/InnovationGovAu
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