The underlying question for this track is: where do you want your company to be 3-5 years from now?
With an ever-growing and increasingly competitive localisation market, many language service companies begin to question their position: “Am I in the right place now?”, “Should I seize the moment and change my focus to become more attractive?” and “How do I as a business owner envision my company to develop in the coming years?”.
When language service companies (LSCs) decide they need to change to become more competitive, they need to keep in mind that there are many ways to grow, increase company exposure and become more competitive. During that journey of renewed discovery, several questions needs to be addressed with due diligence in order for the LSC to make sure that set goals are being attained and for that same LSC to survive in a relentless and slowly saturating competitive landscape.
We will address various topics that will enable business owners and other company decision-makers to choose the right path during each decision-making milestone. Topics will address possible business models for different types of growth and compare with other industries. We will touch on different ways of growth, organic versus inorganic, the role of technology today, retention of talent and how to build flexible organisation structures. We also plan for a sneak preview of what the future has in store for us.
You, as business owners or executives, will reach a point in your career when you ask yourself whether you wish to continue to grow organically, or become the seller or buyer. Maybe you would like to exit and change careers. During this session, we will address some of the aspects that are essential when you prepare to sell. It doesn’t matter what you think, but how the buyer thinks; how to get the numbers right, how to arrange succession planning and finally what gets devalued when you try to sell.
Upon the demand of many past attendees, this year’s edition of ND Focus – Elia’s networking days for Executives in Catania will also address the financial component of our business. We can safely say that the success of any selected business strategy is not only an exercise of defining and monitoring a business plan. Integral to its success is also setting financial goals, planning a realistic annual budget and carefully monitoring the P&L.
In this track, we will discuss with you how to set realistic financial goals that are aligned with your business strategy, how to plan your budget accordingly, how to plan for the long run and balance savings versus spending. Topics like cash flow management and currency risk management will be part of our interactive discussions as well.
Also, what is in it for you as a business owner or executive? How would you define and plan your company’s shareholder versus owner dividend strategies? How much would you earn?
Lastly, where do investments in people, technology or other infrastructure enter into the equation?
The answers to this and all the other questions will help you make an informed decision about your future and the future of your company. We welcome hearing your personal experiences and defined best practices during several round table discussions that we will set up during the course of the two days.
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