Worried about ‘Brexit’? Read this first!

Brexit LI post image 280616 2

So Thursday 23 June, 2016 will certainly be remembered for at least one thing – the day the UK voted to leave the EU.

Now, since then I have had many calls from businesses of all sizes, who have been tying themselves in knots over what happens next, and convincing themselves they have to rush into ‘doing something’ because of the Referendum outcome.

Well, first of all, let’s look at the facts of what has happened since the result was announced:

  • the sun is still coming up in the mornings, the world is still turning, the grass is still green, and Wimbledon is still being held in the wettest two weeks of the British summer – no change there whatsoever!
  • yes, the stock and currency markets have been up and down like the proverbial yo-yo, but there are already signs they are stabilising, even rising, so things are nowhere near as bad here as was widely predicted – remember the markets have a tendency to seek an opportunity for profit ahead of reflecting economic reality
  • interest rates have not changed, neither have tax rates, nor have most of the other key fiscal influences of our economy

So, broadly speaking, things are just the same now as they were a month, or six months, or even a year ago.

As for the next few months, here’s a simple plan of action:

  1. DO NOT PANIC! This will only introduce significant risks where previously there were none
  2. contact your business advisers, coaches and mentors (you do have a business coach or mentor, don’t you?), and begin assessing the ‘big picture’, how it specifically affects you and your business (if at all), and begin planning for the next steps
  3. reassure your team, your suppliers and your customers that it really is ‘business as usual’ until we have the actual hard facts to prove otherwise

There you go – simple!

Keep calm and carry on, as the infamous poster says.

Still not sure what to do next?

Then please feel free to give me a call on 01242-672440, click here to email me.

© Adrian Malpass 2016. All rights reserved.

The BHS tale: are YOU the best person to run your business?

The BHS tale blog image 700x400 090616 1

So…one of the high street’s best known brands, BHS, is no more. 11,000 people have lost their jobs, with many more effected in supporting businesses, and the mutual dislike between those responsible for owning and running the company has become rather distasteful, to say the least, and aired in public.

The previous owner, the most recent owner, and the accountants and lawyers involved in the administration process seem to be the few that have received anything from this sorry mess. But so many have suffered unnecessarily.

So, what can we learn from this sorry tale?

For me, the most obvious lesson is the reminder that owning a business does not automatically mean you are the best person to be leading and running it. Far from it.

In fact, in my experience, this is an error that too many business owners make – often they are not the best people to be running their businesses.

Yet, they diligently risk their and their employees’ livelihoods, or, at least, they restrict the performance and stability of the business by persisting with the view that they should have the ‘top’ job.

To use a sporting analogy, what they’re effectively saying is, “It’s my bat and my ball. Therefore, I automatically make the best captain.”

Wrong! Wrong! Wrong!

Think about it. Most business owners first started their companies because they’re either good at something, or they had a really good business idea. They didn’t start a business because they’re good at running businesses. (By the way, the single biggest reason for business failure in the UK is because of poor leadership and management…just as it was with BHS).

Why do you think so many highly successful businesses of all sizes aren’t led and run by the people that own them? (Of course, there are exceptions). For the simple reason that successful business leadership and management requires a very particular set of skills and experience.

Allowing someone else to run your business will also have one vital benefit (at least): it will allow you to do what you do best, which provides most benefit to the company (and, therefore, you), and is what is most likely to contribute to its future success.

If this short article does one thing, let it be that it encourages you to ask, “Am I the very best person possible to lead and run this business?”

But please don’t try to answer it on your own – you’re biased!

Ask it of all those around you, especially your employees, but also your friends, family, accountant, business adviser (you do have a business adviser, don’t you!)…and insist they give you their honest opinion and reasons.

Don’t be offended if they say you’re not the best person – trust me, it will be for the best in the end.

But, either way, act now with the information you have gained. It’s gold dust!

Good luck!

To find out more about how I can help you improve how your business is led and managed, and ensure it is more resilient and more profitable, please get in touch:

t: 01242-672440

e: click here

© Adrian Malpass 2016. All rights reserved.