Turning Obstacles into Opportunities. MBE Survey.

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Presentation transcript:

Turning Obstacles into Opportunities

MBE Survey

Building a Client Base- 53% Finding Funding- 16% Changing Strategic Direction-10% Increasing Competition-9% Other-6% Finding Talent-6% Location or Logistical Issues- 1% What is the biggest obstacle your organization has overcome to date? MBE Survey

What is the biggest obstacle your organization has overcome to date? “Other” Responses:  Building relationships with large corporations.  Economy issues  2 major frivolous lawsuits  None  Pricing  Competitive climate not necessarily competition  Having the MBE portion of the bid being waived out by City Council  Technology Issues Stemming from Power Outages and Viruses  Finding Qualified Employees at Reasonably Competitive Salary

What do you see as the biggest issue impacting your business currently? Increased Competition-12% Other-10% Finding Talent-8% Internal Strategic Decision-Making Ability-3% Current Economic Climate- 87% MBE Survey

What do you see as the biggest issue impacting your business currently? “Other” Responses:  Getting Contracts  Prime not paying invoices in a timely manner.  Planning growth within the climate  Growth without losing base-clients and with great service  Nothing  No loans for small business owners who have taken a downturn due to economy  Funding  Creating credibility

What do you see as the biggest issue impacting your business currently? “Other” Responses ( cont’d ):  Managing growth  Reducing the MBE participation on some contracts from 10% to 5%  Obtaining long term business opportunities  Balancing between Work Demand and Employee Level  Large Turnovers  Over coming the stigma of being a minority company

What are you anticipating for this year’s financial performance? I am uncertain at this time-19% Ahead of last year- 27% On Track with last year-12% MBE Survey Behind last year – 42%

Where do you think the company will invest the most energy in the coming year? Talent Acquisition & Development-8% Other-1% Operational Effectiveness/ Cost-cutting-22% Business Development & Marketing- 69% *0% Research & Development MBE Survey

Where do you think the company will invest the most energy in the coming year? “Other” Responses:  Survival  Expansion

How important has the minority-owner designation been to your organization’s success? Not at all important-18% Somewhat Important- 32% Fairly important- 13% Very important- 37% MBE Survey

Corporate Member Survey

What do you see as the biggest issue impacting your business currently? Increased Competition-8% Other- 4% Internal Strategic Decision-Making Ability- 12% Current Economic Climate- 77% *0% Finding Talent Corporate Member Survey

What do you see as the biggest issue impacting your business currently? “Other” Responses: Consumers are changing out what they purchase, when they purchase and if they purchase. Our decisions to some degree are results of customer behavior.

What are you anticipating for this year’s financial performance? On Track with last year-31% I am uncertain at this time- 15% Ahead of last year-12% Corporate Member Survey Behind last year – 42%

What is the most important criteria your organization considers when selecting minority vendors? Quality- 54% Other-27% *0% - Size - Year in business - Relationship Management Responsiveness- 4% Location-4% Price-12% Corporate Member Survey

Where do you think the company will invest the most energy in the coming year? Research & Development-19% Operational Effectiveness/ Cost cutting- 65% Business Development & Marketing-12% Other- 4% *0% Talent Acquisition & Development Corporate Member Survey

How important is it for your organization to use minority-designated vendors? Very important- 69% Fairly important- 27% Slightly important- 4% *0% Not at all important Corporate Member Survey

Opportunities During a Recession It causes you to get more creative. It forces you to make the tough decisions. It thins out the competition. It makes it easier to abandon business-as- usual. It brings you back to the basics. It causes you to be less wasteful.

Turning Obstacles into Opportunities