Oleksandr Potapenko: “In business, as in sports — most importantly the result”
If the company has all the processes pass in accordance with the agile system, the latest CRM system is introduced and even a big department of big data is in place, but no profit — you can assume that all your efforts are in vain.
The CFO of UFuture Oleksandr Potapenko has drawn a parallel with sports and explained the most common financial mistakes as an example of a football match.
1. Impartial assessment of competitors and business circumstances.
Only if you have correctly calculated the market volumes, your financial obligations and the cost of the product can you count on profit. Always prepare for poor results and work on alternative scenarios.
2. No financial pillow.
You need to understand why you can survive the potential hardship and how you will cope with it. A good option is a large amount of cash. This will give you the opportunity to take the time and think about how to overcome the crisis.
3. You don’t pay attention to financial reputation and fundraising.
If you don’t create a credit support, you can’t grow and scale. You need to gain creditor credibility so you can raise funds to help you survive the hardship.
4. Swollen staff. Don’t keep unnecessary employees on the bench.
Reduce non-priority spending. But keep in mind that people are your main resource. Stay on top of the team.
5. Lack of cost accounting for distance.
The monthly rent may seem insignificant, but if you calculate it on the perimeter of the year, you will realize that you are spending large sums instead of avoiding it.
6. Don’t try to improvise when doing business.
Its impossible to do business without strategy. It’s like stepping onto a football field without a tactical scheme. Its important for a successful business to know the roles of everyone in the team and clearly share responsibility.
7. Perceive the crisis as a disaster.
You must be prepared for the crisis and be able to take advantage of the opportunities it offers.
Read the full synopsis of the speech Oleksandr Potapenko from the WIN WIN NIGHT event in the Vector column: “7 mistakes of business on the example of a football team. UFuture financier explained”