So let’s call it that.
South Africa is in its first technical recession in nine years – but you know that, so what are you doing about it?
News of a recession has the tendency to push the masses into a feeding frenzy of doom and gloom, but we at INN8 recognise opportunity in adversity.
In a recent post, Dave Nemeth, one of South Africa’s top creative thinkers, noted that “we are technically in a recession, but I would like to remind you of the many businesses that had started during a recession, as well as those that thrived during a recession”.
Nemeth then recommends 7 practices business owners and managers can embrace to recession-proof your business – and we show how adopting INN8’s offshore platform can help you achieve them:
1. Service levels need to be impeccable: INN8’s offshore platform gives you 100% control over your clients’ investments. With real-time processing, 24/7 access to your online dashboard and exceptional reporting options, your service will improve instantly.
2. Understand your good and bad costs in the business as you need to eradicate those that are not having an effect on your bottom line: INN8 is cost effective. Not only do we offer highly competitive fees and complete transparency, but our efficient processes deliver bottom line returns for you by helping you do more with less.
3. Work hard, work smart and try to stay positive: INN8 is a fully digital, paperless platform that offers straight-through processing. Our offshore platform cuts client on-boarding down from a week to 48 hours – and that’s working smart.
4. You need to take market share from your competitors: INN8’s innovative offshore proposition is perfectly placed to be a competitive marketing advantage for you. And there’s no time like a recession to take your client’s money offshore.
5. You have to innovate. Try and test new things without spending a fortune to see what works: Never tested digital business solutions? Digital innovation is what we do – and our platform can be the first step of your digital (r)evolution.
6. Look for new avenues of revenue in your business, dig deep and look at your current resources: This is a perfect time to talk to your clients about getting their money offshore. It’s time to diversify, mitigate risk and innovate as a Wealth Manager.
7. Believe in yourself and manage your team well: We believe in you. And, as a valued partner of ours, we are here to assist you in staying above the fray.
And, as a valued partner of ours, we are here to assist you in staying ahead of the pack. With the right tools and team at your disposal, even challenging times can become an opportunity for growth.
The INN8 team is always just a phone call away, give us a call and let’s get to work!
This was the monthly mailer sent out to INN8’s database. If you would like to keep up-to-date with industry insights, you can sign up here.