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BUSINESS TO CONSUMER - 5 TOP TIPS FOR COVID-19 RECOVERY

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Today we will be focusing on the advice which worked well for our business to consumer clients over the COVID-19 lockdown to help them prepare for reopening.

[SEE BELOW FOR DOWNLOADABLE PDF TIP SHEET]

Financial Management

The first thing we would advise anyone within any sector to look at is all revenue coming in and expenditure going out (Creditors and Debtors). Ensuring payment is received from debtors is the number one priority. Be personable and have an honest conversation with current debtors. We all understand that there may be issues regarding payment, however, keeping in touch and up to date with your debtor’s current financial situation helps. You need to ensure these situations were and are documented and monitored. 
If you are an organisation which sells its own product to consumers; we have seen good results exploring supply chain cost saving solutions, along with implementation of lean practices to improve production/ business processes. The improved supply chain and production/business process costs have allowed our clients to either reduce their product price, to increase market competitiveness or improve profit margin on products sold to help increase cash flow and sustainability.

Build Your Network

“Networking is a deliberate activity to build, reinforce and maintain relationships of trust with other people to further your goals. Professional networking is simply networking focused on professional goals," (Anders Ostlund).
Many businesses have heavily relied on word of mouth sales or resting on their laurels with current repeat orders which may not be safe guarded i.e. via contracts or sales terms and conditions.
One way to boost your brand’s presence and build a reliable and professional network is by exploring social media platforms such as: LinkedIn, Facebook, Instagram etc. Doing this will give you a consistent audience of potential consumers and/or likeminded professionals who actively seek to help each other and collaborate.
One other way of building your personal network is by attending or joining professional networking groups/societies. These are specifically setup with likeminded professionals and is a great way to tap into other people’s networks, to help build new connections, to seek new opportunities and explore leads for your business.

Create an Electronic Platform

Nowadays, with the growing popularity of the Internet and technological advancement, it is quicker and easier to buy and sell online now than ever. Internet users are no longer limited to sitting at desktop computers to do research or send emails. If you are an organisation which sells stocked products, now may be the time to take the massive leap to building an ecommerce website. In 2019, 79% of adults in the UK owned a smart phone. Even though an e-commerce website gives you “instant access” to a global market; businesses usually start off with a broader UK market potential of approximately 40 million people compared to your advertisement reach in magazines, newspapers, or advertising outlets. With the current pandemic situation, customers are appreciating the convenience of online shopping even more. The presence of your brand will make it easier for everyone including busy parents, and disabled people make decisions regarding their purchase without the inconvenience of being in an environment that may not be fully accessible.
If you work in the hospitality sector, you will have noticed the growing amount of bespoke service provider apps to help with customer interaction. Apps like these can help with ordering food, requesting assistance, drinks ordering and service, and time limit tracking (for example in the Republic of Ireland, there is a 105 minute time limit inside a restaurant/ gastro pub.*) *Figure correct at time of publication*

Use Innovative Technology

When we talk about innovation, we think of companies such as Amazon, Tesla or Space X to name but a few. These companies are the striving to set the benchmark for innovation and the use of advanced technology. For other companies, this level of innovation would not be economically viable, due to factors such as the size of their organisation and nature of products/ services provided. Mourne Management Systems has supported businesses with developing a technology road map, enabling them to identify and stay abreast with the latest technological developments and strategically planning for how this new technology could play a role in the future of the company as it grows.
In both Northern Ireland and the Republic of Ireland, the agricultural sector plays an enormous role in our economy, yet farmers can be reluctant to trial or incorporate new technology. This could simply be due to a lack of interest in the area or perhaps a strong belief in generations of traditional farming techniques. With Brexit looming and posing a threat to the agriculture market, new agri-tech has, and continues to be, developed to improve operational processes and support the continuation of farm performance monitoring. 
One example of a new innovative agri-tech for crop farmers is; eLEAF, a Dutch high-technology company that supplies reliable, quantitative data on water and vegetation on any land surface to support sustainable water use, increase food production, and protect environmental systems. Using satellite imaging, eLEAF gives farmers advice on soil composition via SMS. Once a crop begins to suffer from water stress, farmers start to lose income. The irrigation advice that eLEAF gave to farmers, led to impressive results. In some cases, the yield increased by as much as 200% to 250%. This is just one example of how much impact can be made upon affordability and increased revenue using technologically advanced systems.

Increase Marketing

As I wrote in a previous post, my belief remains the same: “Burying your head in the sand won’t solve anything. It will only make matters worse”. Honesty is key, when looking at your business, to help recover from the unprecedented lockdown period. In 2008, during our last recession and economic downturn, 60% of brands that did no additional marketing saw a 24% decrease in product or service use and a brand image decrease of 28%. Similar evidence revealed that organisations who decided to cut their marketing budget, lead to greater risk of losing revenue. We can all learn a lesson from the last recession, that although it is tempting to save and cut marketing costs, this can actually pose further risk to your business and leave you in a weaker position in the long term. Mourne Management Systems have advised that a lot of your current competitors may still be in a short-term mind set. This will, in turn, provide you with an advantage and massive opportunity to capture more of your market through a strategically developed sales and marketing plan.

If you would like further support with creating or implementing any of the above topics, please don’t hesitate to get in touch.
www.mournems.com
aaron@mournems.com

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by Aaron Furphy 21 Jan, 2024
Introduction In the ever-evolving landscape of quality management systems, staying abreast of changes is crucial for organisations striving for excellence. For those operating within the aerospace industry, a significant transition is on the horizon as the proposed changes from AS9100 Rev D to IA9100 are set to take effect. This shift brings a wave of adjustments that demand a proactive approach and strategic planning. In this blog post, we'll delve into the upcoming changes, explore their implications, and guide you through a seamless transition. As a global management consultancy based in Northern Ireland, Mourne Management Systems is committed to providing expert insights and support for ISO system implementations and business management consultancy. --- Understanding the Transition Background on AS9100 Rev D The AS9100 series is a set of international standards developed by the International Aerospace Quality Group (IAQG) specifically for the aerospace industry. AS9100 Rev D, the current version, has been the benchmark for quality management in aerospace, emphasizing risk management, customer satisfaction, and continual improvement. Introduction to IA9100 IA9100 is the proposed successor to AS9100 Rev D, expected to bring about several changes aimed at enhancing the effectiveness and relevance of quality management in the aerospace sector. While the details are still in development, it is crucial for organisations to prepare for these changes to maintain compliance and optimise their quality management systems. --- Key Changes in IA9100 Risk-Based Thinking Reinforcement One notable area of focus in IA9100 is the reinforcement of risk-based thinking. The aerospace industry is inherently complex, with various factors influencing product and service quality. IA9100 is anticipated to place a stronger emphasis on clarifying and detailing operational. With this larger emphasis being put on operational risks (compared to AS9100 Rev D), it is proposed that all risks shall be part of the organisations internal audit plan/ schedule. Enhanced Emphasis on Leadership IA9100 is expected to bring about a more pronounced emphasis on leadership involvement and commitment in terms of the organisation’s “Quality Culture” and “Ethical work environment”. Organisations are advised to assess and enhance their leadership strategies to meet the evolving requirements. Information Security The proposed changes in IA9100 also emphasise the importance of information security within your organisation. With the growing prevalence of data security breaches and responsibilities for organisations to comply with government and industry regulation changes, the new IA9100 standard is proposing that the QMS, being that it is a “business management system”, is a vital resource for the organisation to: - Achieve the Quality management system’s intended results; - Protect customer and employee information; - Prevent IP (Intellectual Property) theft; - Prevent cyber espionage; and - Preserve reputation and trust Greater Operational Control The IA9100 standard signals a strategic shift in aerospace quality management, prioritizing early risk identification and continuous improvement. Emphasizing Control Plans, PPAP, and APQP via AS9145 ensures a structured approach to process control, vital for defect prevention and regulatory compliance. The heightened focus on Foreign Object Debris (FOD) prevention underpins the industry's commitment to safety. By integrating robust business management procedures, IA9100 aims to fortify aerospace's dedication to excellence, safety, and continual improvement, ensuring the highest quality and reliability standards. --- Implications for Businesses Proactive Transition Planning Given the significant changes anticipated with the shift to IA9100, organisations are encouraged to adopt a proactive approach to transition planning. This involves conducting a thorough gap analysis to identify areas that require adjustment or enhancement. Mourne Management Systems, with its global expertise in ISO system implementations, is well-equipped to assist organisations in this crucial phase. Employee Training and Awareness As with any change in standards, ensuring that employees are well-informed and adequately trained is paramount. IA9100's increased emphasis on risk-based thinking and leadership involvement necessitates a comprehensive training programme to empower employees at all levels. Mourne Management Systems offers tailored training solutions to equip your team with the knowledge and skills required for a successful transition. Continual Improvement Mindset IA9100, like its predecessor, places a strong emphasis on continual improvement. Organisations should view the transition not just as a compliance requirement but as an opportunity to enhance overall efficiency and competitiveness. Mourne Management Systems specialises in fostering a culture of continual improvement, guiding organisations to extract maximum value from their quality management systems. --- Mourne Management Systems: Your Partner in Transition Global Expertise, Local Commitment Based in Northern Ireland, Mourne Management Systems boasts global expertise with a localised commitment to providing top-notch management consultancy services. Our team of experienced consultants understands the intricacies of ISO system implementations and is ready to guide your organisation through a smooth transition from AS9100 Rev D to IA9100. Tailored Solutions for Your Organisation At Mourne Management Systems, we recognise that every organisation is unique. Our consultancy services are tailored to meet the specific needs and challenges of your business. Whether you operate within the aerospace industry in Northern Ireland or have a global footprint, our consultants are dedicated to delivering customised solutions that drive excellence. Comprehensive Support Throughout the Transition Navigating the transition from AS9100 Rev D to IA9100 requires a holistic approach. Mourne Management Systems is committed to providing comprehensive support at every stage of the journey. From initial gap analysis to employee training and ongoing optimisation, our consultancy services cover the spectrum of requirements for a successful transition. --- Conclusion The transition from AS9100 Rev D to IA9100 marks a significant milestone in the evolution of quality management systems within the aerospace industry. As organisations gear up for this change, partnering with a reputable management consultancy becomes crucial. Mourne Management Systems, with its global perspective and local commitment, stands ready to guide organisations through a seamless transition, ensuring compliance and fostering a culture of continual improvement. Embrace the change, elevate your quality management systems, and position your organisation for sustained success in the dynamic aerospace sector.
by Aaron Furphy 17 Nov, 2020
Furthermore, it is crucial that your business plan not only works functionally and profitably, but also works for you and the life you want to create. We all have goals and dreams for our lives and how we would wish to live them. Have you considered what your business would look like if it gave you exactly what you want from your life? Do you have a financial goal in mind that would support your dreams and the lifestyle you want to lead? Do your ambitions align with the business you are creating? How amazing would it be if you could create a business plan and a business that supports your vision? And how incredible would it be if your business worked for you, instead of the other way round?
by Aaron Furphy 23 Jul, 2020
Today we will be focusing on the advice which worked well for our industrial sector clients over the COVID-19 lockdown to help them prepare for re-opening. [SEE BELOW FOR DOWNLOADABLE PDF TIP SHEET]
by Aaron Furphy 22 Jul, 2020
Today we will be focusing on the advice which worked well for our service sector clients over the COVID-19 lockdown to help them prepare for re-opening. [SEE BELOW FOR DOWNLOADABLE PDF TIP SHEET]
by Aaron Furphy 21 Jul, 2020
Today we will be focusing on the advice which worked well for our business to business clients over the COVID-19 lockdown to help them prepare for reopening. [SEE BELOW FOR DOWNLOADABLE PDF TIP SHEET]
by Aaron Furphy 20 Jul, 2020
Today we will be focusing on the advice which worked well for our business to consumer clients over the COVID-19 lockdown to help them prepare for reopening. [SEE BELOW FOR DOWNLOADABLE PDF TIP SHEET]
by Aaron Furphy 18 Feb, 2020
There are a wide variety of circumstances and causes as to why business growth plateaus at a certain point. Some of these growth hurdles could be attributed to monetary complications with some running out of money before their business plan can be executed, others may not respond properly or meet the demands of their clients. Indicators of variable business growth can include data and metrics. They can show trends of “levelling out” or “a decrease in momentum”. If a business uses metrics and evidence-based decision making this will allow them to isolate the problem early and act on it. Other indicators could be stock prices continuing to decline, thus making shareholders more cautious. Businesses have different ways of reacting to these indicators. In some cases, boards bring in a newly appointed CEO or a former appointed CEO, like P&G and Starbucks; who believe these personnel can revitalise the company to its previous status. However, in most cases, the board of that organisation/ company may expect things to change and stick it out with the current appointed personnel, these companies include Apple Inc., GE and Cisco. Some of the causes for a business to initially stop growing is the law of operating on large numbers. As a company grows the percentages accumulate, as a result; they have increased income and increased outgoings. Therefore, as the foundations grow for the business, this can pose a high risk and require more control placed upon it. In the cases of increased start-ups, competitiveness in the market increases. Start-ups, with the benefits of lower overheads, enable them to win new contracts and make a significant profit increase. We know how difficult it is to win a contract; however, sustaining the business throughout the duration of the contract and managing cash flow can become the next and biggest element of risk in terms of business growth. This in return puts pressure on the start-up or the smaller company to gain more sales, explore new markets or even look at new geographical regions to operate in. It could also be suggested that the growth of any company could be affected by the maturity of the market. Over time, consumers become more and more acquainted with or faithful to certain products in a much more predictable pattern. This then leaves some businesses vulnerable and leaving their business growth plan to chance, hoping that severe changes happen to the market leaders so they can compete for the new market shares that become available from their competitors. It could be added that with the market growing, prices are likely to normalize, thereby limiting the ability to grow and expand by increasing the prices. Eventually, some markets come to the stage of exhaustion owing either to a small population increase or to product commercialisation. All combined, these product and market life cycles put pressure on the typical marketing and sales growth plans. You could also say that self -preservation of businesses is another reason why growth slows. As a company grows, their existing market could be preserved by a small quantity of market leaders (greater than 99%) and are less likely to outcompete when offering new goods. Therefore, at a point when a small company in this market needs to innovate in order to grow, the pattern is to make it safe; rather than innovate on expanding current goods and services; as their market leaders have the adequate resources in order to do this which they may benefit from. Finally, businesses who say they have a plan but are not seeing the results. This could come from several different factors, however; from my experience it mostly comes down to the organisational culture. Normally the only people who know of these top-level goals and targets are the board. This then leads to an almost Chinese whisper effect when this information tries to be shared but in a diluted state to ensure the “secret sauce” doesn’t get leaked to competitors. This can lead to confusion and a false buy-in from employees as they may not fully understand the reasons for why they are doing things differently or why there has been a change in the business.
03 Feb, 2020
The inaugural conference from the Young Entrepreneurs Network Northern Ireland (YENNI) will take place on Friday, January 31 at Riddel Hall, Belfast, bringing together inspiring speakers and aiming to help drive development of young people’s businesses. Entitled ‘Level Up!’ the YENNI conference will see the voluntary organisation take the next stage in its support for 18-30-year-olds interested in business, entrepreneurship, leadership and professional development. YENNI founder, Katie Matthews, was FSB NI Young Entrepreneur 2018 and was included in the NI 40 Under 40 List last year. “I set up YENNI to support other young entrepreneurs and professionals who have a wealth of potential, but perhaps not the means to pursue their dreams and explore their capabilities,” she said. “Our inaugural conference will support the vision to provide a safe space, platform and hub for sharing ideas, connecting, supporting, developing and mentoring the amazingly talented young people of Northern Ireland. I’m delighted that so many inspiring speakers have agreed to take part.” Keynote speakers will include FSB Chair, Tina McKenzie, CEO of Grafton Recruitment, Claire Stewart, Chartered Accountant and NI Young Leader of the Year 2019, and Dave Linton, founder of Madlug CIC and the UK’s Entrepreneur for Good 2019. “What all of the speakers have shown is determination to succeed, and the desire to take businesses to the next level,” said Katie. “Together with the other speakers, leaders and ‘Masterclass’ workshops this is an excellent opportunity to not only learn, but to take the next step in your own development and your business’ growth. “Level UP! Aims to educate, evolve, empower and elevate everyone involved. It will bring together like-minded, driven young people who are current or future entrepreneurs, leaders, professionals, leaders, innovators and disruptors for what I am sure will be a day that will change many people’s lives and outlooks.” Sponsors for the event include GetPrint, along with Grafton Recruitment, O’Reilly Stewart Solicitors, The Mind Tribe UK, Mourne Management Systems, Ruthless Media, Oranga and Excalibur Press. The conference will last from 9.30am to 4.30pm, with tickets priced at £15 via Eventbrite – just search Level Up! Credit - Newsletter - Claire Cartmill https://www.newsletter.co.uk/business/level-up-for-young-entrepreneur-success-at-belfast-1-9215466
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