To Telford today!

4 June 2008

Have been to Telford to see a client today. I used to be a director of a Venture Capital / rescue company based in Telford and London, so know the town and the journey from Euston well.

Telford is where was conceived and born!

Didn't call it Telford Rescue for obvious reasons although some people may argue that Telford does need some help!

Have helped rewrite the rescue strategy with the directors of my SME client today, we are outsourcing manufacturing, losing half the staff and cutting sales forecasts by 55%. Again this is survival mode even though current orders are still quite strong, we are planning for the sales to fall sharply as recession kicks in. Sales manager will now be targeting £1.2m not £2.7m and making a small profit of £20,000.

Remember that old adage applies - turnover is vanity, profit is sanity.

It may be possible to re-grow sales in future and in fact we may be being too pessimistic in our planning, but better to still be trading in 12-18 months than falling on the sword of high growth expectations!

Arriving back in Euston so bye for now!