2010 is the first in a series of business development shows looking at the business of recovery. Top experts react to a new report from HSBC looking at the risks and opportunities in 2010 and what it will take to succeed in the recovery. You can also download a PDF of all the experts comments prepared by social marketing author and monetization expert Andrew Ballenthin.
Noel Quinn: UK Head of Commercial Banking, HSBC
History tells us more businesses will fail in recovery than they do in a downturn.
Entrepreneurs are looking for more than money; their new business models depend on access to networks, knowledge and people. They have found flexible ways of working and will not return to more rigid, arguably more expensive, forms of business in the future. They are using technology and advisers to build social, network and human capital as well as finance.
Source: HSBC Business Recovery Report Nov 2009
Thomas Power: Founder, Ecademy.com
The last decade has been one of massive change. The traditional way of doing business no longer works. Those entrepreneurs who take and Open Random and Supportive (ORS) approach will win. In 2010 ORS entrepreneurs will make more connections, move faster, and achieve more wins.
Debbie Weil: Author, The Corporate Blogging Book
Those who are imbued with the new approach to selling. It's always about the customer, what's in it for them. But you must use great content, whether it's video or a blog, to sell without selling.
Alan Stevens: Director, Mediacoach.co.uk
Flexibility is key to success as an entrepreneur in 2009. The ability to adapt fast, to take advantage of new communication channels, new partnerships or new types of product, will be essential. Keeping an eye on what customers are saying, and responding quickly, is the way forward.
Andrew Ballenthin: Author, Stop Chasing Chickens
Be alliance oriented and determined: Customers have been burned by overpromising sales pitches. Entrepreneurs need to innovate with their customers and help them rebuild a stable and successful future. In many cases buying cycles will be longer as businesses work from cash flow versus their line of credit. Entrepreneurs that can wait 25%-100% longer to get the sale will be the winners.
Mark Mason: CEO, Mubaloo
Those who have identified a growth market and set up a business within that market. We set up Mubaloo after correctly predicting that business mobile media would be a significant growth market over the coming years. According to a recent MEF poll, mobile media revenues are due to grow 33% in the next year, with 17% of that attributed to apps.
