There so much uncertainty following the EU referendum result.
The sands are shifting.
The pound is stronger now and the FTSE is doing well. PWC have claimed that the UK’s financial centre will become a real powerhouse. Manufacturing had a stronger quarter than it has in a couple of decades. I also hear that some industries, like agriculture, are enjoying a boom. In fact, the British have decided to keep clam and carry on. Phew. Good confidence helps the economy a great deal.
Yet, when Mrs May files article 50, will that confidence hold? We cannot know. She warns that there will be tough times ahead – and we have so recently come out of a recession.
So let us be honest.
You can either stick your head in the sand and hope for the best – or you can lead your company through this so that you are prepared. One thing IS certain – if you provide strong leadership you will build confidence among your staff and your customers. That will make success far more likely.
It is a fact. Uncertainty seems to be here to stay. It is not just Brexit – the peaks and troughs in the economy seem to be more frequent. Globalisation is affecting our markets in ways few companies have thought through. Technology is sparking more change. . .
Will you hold your breath and wait to see what happens? Or will you take the bull by the horns and set up your company to make the most of every opportunity – so that whatever happens you are positioned to grow and do well.
Fast growth companies that do well – Brexit or not!
Some companies grow and do well, whatever the economic situation. For 20 years I have researched companies that, outperformed every other company in their industry. Interestingly, while they are performing so well, these companies all share eight major characteristics that seem to underpin their success. If you would like a copy of the white paper that describes them please click here and I will email you a copy. It is a fascinating read.
One thing is certain – if you wait for certainty then you will be waiting a long time. We thought there would be more clarity after the election yet there is none. Will you wait until the end of the year? Or until 2 years is up. And…. while you are waiting companies like the ones above will be taking action, scenario planning, pinpointing triggers to watch out for and making clear plans.
Then you will be left far behind. Please do not let them happen. Instead, take this quick evaluation and then take action – or get help to think through how your business will take control. (We would love to help you – as we have many other companies.)
Check how well set up your business is for success now
Here is a quick evaluation – so you can check how well your company is set up for success. Simply choose the option that most closely fits your situation today:
- The value you provide so good that you win a large number of new customers
Yes very strong Quite strong Not sure Quite weak Weak - The business’ direction so inspiring that all the leaders/ staff are crystal clear and agree what it is
Yes very strong Quite strong Not sure Quite weak Weak - Your confidence in the strategies to deliver that outcome is strong
Yes very strong Quite strong Not sure Quite weak Weak - Your marketing is so effective that your target market all know what you offer and why is it better than the competition?
Yes very strong Quite strong Not sure Quite weak Weak - Well over 50% of sales come from customer recommendation/repeat business
Yes very strong Quite strong Not sure Quite weak Weak - Growth and profit are well above 10% year after year
Yes very strong Quite strong Not sure Quite weak Weak - Business momentum has built to such a point that the company is going from strength to strength
Yes very strong Quite strong Not sure Quite weak Weak
Your results
If you scored very strong to 5 or more then Congratulations. Your business is well on the way to making the most of the market situation. You are well on the way to excellent success – though do pay attention to any gaps.
If you scored less than that then your business in not in a good position – Brexit or no. It is time to take action – to ensure that you do not just survive the UK leaving the UK, but that you grow and flourish.
Where will you start? If you would like to tell us about your answers and discuss how to lead your company through this then please call me on +44 (0)207 0604 006.
