19th June 2017
So how are businesses going to react to all the uncertainty which is flying about at the moment? Brexit negotiations about to start, a severely weakened government in power, and an ever increasingly divided populace.
The answer of course, is “who knows”. We can all speculate as to what we think may happen, but that is largely guess work. So what do we need to do to ensure our businesses continue to thrive, or at the very least maintain stability?
Having control of your business is the key thing. Keep a watchful eye on your cash flow, and if necessary check bank accounts on a daily basis so you can for see potential problems which lie ahead. Manage your team carefully, and make sure they are following systems, doing what you expect of them and hitting their targets. By this you can ensure that time management is also under control, and that you keep productivity levels up. Keep an eye on costs as well, and make sure that your cost of sales (COS) and wages are watched carefully so you can maintain or improve your margins.
From my point of view, we continue to pick up new business, and most if not all my clients appear to be growing and flourishing. So it would seem that the future is very positive, and despite the turmoil all around, if you concentrate on your own business, and manage it carefully, you have every chance of weathering the storm, and coming out the other side stronger.