Advice from J21 Coaching on Post Brexit Business
Now that some of the dust has settled from the Brexit referendum, what’s next for your Business? asks Jackie Cummins at J21 Coaching & Training: Well, you may be rather surprised at my answer! There are huge implications as we move forward as a country into the future, but there are also some great opportunities ahead. Jackie looks at some of these opportunities and highlights some actions you can take to improve your business prospects.
Regardless of the political motives and aspirations of a government whether they be European or otherwise, it’s important to remember that both we as individuals working on our business and the country as a whole need to remain competitive. Let’s look at some actions you can take to remain competitive and improve your business: –
Relationships – Take time to build relationships, understand both your supplier’s problems and customer needs, so that when challenges arise they can be dealt with more swiftly. Understanding “customer needs” enables you to tailor your service towards their needs and add value. It’s not just about having procedures in place for refunding the customer or dealing with a complaint
Collaboration – Consider establishing a closer rapport with your suppliers/customers, look at these as your “business partners”. Is there a product or service that could be re-engineered as to reduce costs and or be enhanced, so as to add value to the market place? Innovation – Many businesses are so consumed in the day-to-day operations that they fail to take time to plan and innovate for the future. We all need to be more flexible so that we can quickly adapt to market conditions. Do you have a product or service that has suddenly become more competitive due to the change in the value of sterling?
Start looking at the UKTI; www.gov.uk/government/organisations/ uk-trade-investment/about/about-our-services
Work on the Business NOT in it! – Entrepreneurs and business owners can become so engrossed in what they do, they fail to take a more holistic view of the market place. Growing and developing your business will require you to leverage your time or expertise. Seeking assistance from an outside source such as a Business Coach can help you greatly within this area because it allows for an external perspective and also for you to be held accountable for your actions.
Developing Your Sales Pipeline – Often the steps you are taking now will not show-up in terms of results for months. Even when sales are good you should be thinking about the future and developing our sales pipeline so your business is more robust and not subject to a few big contracts that could be dropped. Much of “Business Success” is made up of small consistent steps – Avoid the temptation to work on that “big life changing deal” at the expense of everything else
Plan to use the Business Plan – Where is your business plan? In a filing cupboard only brought out at the end of the year? Your business should be considered as a living, breathing being just like you; a lack of cash-flow and the business will be in trouble, just like you. Failure to invest in yourself or your workforce will limit the growth and expansion prospects of the business and you! J21 Coaching and Training can help you create and implement a 90-Day Plan so that you have a clear strategy of where you are going. I would advocate that it is much better to have a 2 page Business plan that sits on the desk rather than a nicely typed up 100 page report that sits in a drawer somewhere!
Regardless of our evolving relationship with Europe and the uncertain economic forecasts we will all need to look at the ways we do business so as to improve our productivity to better prepare ourselves for the future.
Jackie has a broad range of expertise with clients based in the UK & USA and she can assist; Start-ups, SME’s and individuals from the Corporate Sector.
For further help with your business contact Jackie Cummins, Founder and Business Success Coach at J21Coaching;