This week’s focus: Whatever your views about the ongoing Brexit discussions, there can be little argument that the situation is creating uncertainty for UK businesses and their leaders. A slow-down of economic growth, falling house prices and sales, a devaluing currency and rising inflation have all adversely affected the confidence of UK consumers and made the case for further domestic business investment more difficult to make.
At one FTSE 250 business I’ve worked with the response has been to pull down the shutters. The executive team, reflecting on the company’s falling revenues and profits, have decided to stop any discussion or thought of longer-term development and are focusing exclusively on making the next sale and controlling and cutting costs. ‘Strategy’ is now a dirty word in that organisation.
All the evidence shows, however, that it is those companies that continue to invest in downturns – through marketing, R&D and acquisitions – that perform best once the economy recovers. You can’t ‘hunker down’ your way to success; you must, instead, continue to be a leader and driver of your market, pursuing your major growth opp0rtunities, accelerating innovation and step-changing the speed of delivery of your chosen priorities.
In other words, you should forget about Brexit and focus on Brexcellence.
What actions can you take to drive the excellence of your business and accelerate growth in 2018 and beyond?
Off The Record: Better Things by The Kinks
Here’s wishing you the bluest sky
And hoping something better comes tomorrow
Hoping all the verses rhyme
And the very best of choruses to follow
© Stuart Cross 2018. All rights reserved.