This ad will be closed automatically in X seconds.

“Making the most of Q1 will need strategic planning, flexibility and adaptability”

Imagine8’s Norman Thompson highlights some ideas for consideration to make the first quarter of 2024 sing.

As we move through 2024, LicensingSource.net asks a selection of licensees across key categories how they are looking to make the most of the first quarter of the New Year despite the wider challenges that everyone is facing.

Today: Norman Thompson, md, Imagine8.

“Making the most of the first quarter of 2024 with broader challenges will need strategic planning, flexibility and adaptability.

Some general suggestions for us all to consider include setting clear goals – define specific, measurable, achievable, relevant and time-bound goals for the first quarter and check that these goals align with overall business objectives.

Focus on core competencies and concentrate on what your business does best, plus adapt and be flexible; evaluate the impact of external challenges on your business, economic conditions, industry trends and any ongoing global issues.

Understand customers’ needs and expectations and enhance customer service and engagement, plus ask for feedback and make improvements based on customer input.

Another suggestion is to diversify suppliers and ensure a robust supply chain to mitigate potential disruptions. Consider building strategic stockpiles of critical resources. Explore collaborations with other businesses or industry partners; pooling resources and sharing expertise can lead to mutually beneficial outcomes.

Remember, flexibility and adaptability are key in navigating uncertain times. Regularly review your strategies, stay informed and be prepared to adjust your approach as needed throughout the quarter.”

This feature originally appeared in the spring 2024 edition of Licensing Source Book. To read the full publication, click on this link.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.

MORE NEWS
LAfinaliststrophies500x500
 
The countdown to The Licensing Awards 2024 in September is officially on, with the finalists across all categories having been announced....
Productthumbnail500x500
 
The finalists in the hotly contested Product categories at The Licensing Awards 2024 can officially be revealed today (11 July)....
WhatKidsLove24500x500
 
The finalists in the special consumer award at The Licensing Awards 2024 - What Kids Love, in collaboration with The Insights Family - can today (11 July) be revealed....
JollyAwesomeBearly500x500
 
The publisher will collaborate closely with Toikido on a consumer products programme for Bearly Getting By, which has seen immediate success in the greeting card category since its launch in January....
SesameStreetcharacters500x500
 
Heathside Trading and OddBalls join the licensing programme for the classic brand....
RSLA500x500
 
Bravado has teamed up with Supervinyl and Brain Dead Studios to host special events and debut limited edition merchandise across LA....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.