4 Focus on what really matters

What is the issue?

In a downturn, businesses must ensure their customers remain their number one priority. This is a good time for businesses to consider which of its customers, products and channels are the most profitable. These volumes will be critical to driving the business through the economic turmoil and, ultimately, making it sustainable.

What do I need to be aware of?

Investments in new customers and risky products could be stopped or delayed for the present time. Businesses should consider whether there are plans for projects which are no longer relevant. Tough decisions may need to be taken to successfully manage businesses through this downturn.

What questions should I be asking myself?

• Which customers have declining orders and how can I mitigate against this?
• Which products or new product developments really matter to my profitability?
• How can I build up volume through my profitable channels to market?
• Which investment programmes are critical to surviving the downturn and which can wait?
• Which products, customers and channels are central to my core business?
• Am I really having a hard look at the projects we are undertaking or about to undertake? Are they critical to the business? Can they be scrapped or at least delayed?
• Am I really focusing on what really matters?

How can PwC help?

Drawing upon a network of expertise and the experience of our professionals, we can help you monitor your strategies, finances, operational activities and focus on what really matters. Check the column on the right for details of who to contact and for further information.