Wow. What a week. Dumped out of the Euros by Iceland (no, not the supermarket). We dumped ourselves out of Europe. Standard & Poor dumped our Triple AAA rating. There are resignations aplenty on both sides of the political fence. We’ve experienced a slump on the FTSE in addition to what we’ve seen across global markets. The value of Sterling is at a level not seen since 1985. Mix that in with allegations of untruths during the referendum campaign (any surprise?) and you could be forgiven for thinking Armageddon has arrived. I could go on…. and on and it’s likely that the implications of Joe and Joanne Public’s decision to ‘Brexit’ will be with us for some time too.
So, do we treat this with the traditional stiff British upper lip? Do we break out the tea and scones? Or do we grab our brolly, pull up our collars and find the nearest public house to drown our sorrows?
The last recession was grim. Let’s face facts. But, in the main, we’re still here. Trade goes on. People still consume. Businesses still need services. It’s entirely possible that, for a while, the pot may be a little smaller. Will it be survival of the fittest? Probably. But, isn’t that just life…. or business?
Whatever the likely outcome of Brexit in the near and distant future, we have to get on with things. As business owners and managers, we have to look at what we can control. This is where our commercial skills come to the fore. But what questions do we need to ask, in order for us to insulate ourselves from any fallout from our withdrawal from the EU over the next few years? Below, we’ve listed a few thoughts and questions to consider. How do you and your business measure up?
- What insight do we have, or need, about our marketplace that helps shape future decisions?
- How lean can we make our business without hampering growth and stifling competitiveness?
- What are the strengths and weaknesses across our business?
- From where are the best opportunities likely to come?
- Where might external threats come from?
- How can we best focus marketing efforts to be effective?
- How can we grow market share at the expense of the competition?
- How can we strengthen our value proposition?
- What steps do we need to take to protect our current client base?
- What is our plan for the next 1-3 years?
The phrase “When life gives you lemons, make lemonade” is a phrase that’s often used to symbolise the need for optimism and a positive attitude particularly when adversity strikes. The idea is that lemons represent bitterness, while lemonade is a sweet drink showing the contrast. The sentiment has never been more apt.
If you’d like to find out how GSA Business Development can help Generate Growth for your Business, contact us now on 0845 658 8192 or send us an email.