Without wanting to wade in to the pros and cons of BREXIT, whatever happens, the better you can be prepared, the more opportunity you will have to make the most of the outcome. Because whatever happens, change is coming! Companies that adapt will survive and grow.
Start with some simple steps:
Do you have plans for dealing with a number of scenarios that could have an impact on your business – both positive and negative.
One client has already developed an alternative suppliers list for products purchased outside the UK. Some of the UK suppliers are actually comparable on price – or, as it turns out, even a little less. They are now working with a UK manufacturing company to help raise the quality of the products it supplies – The main reason they went outside the UK in the first place. By helping their supplier, they are helping themselves have a robust supply chain; and form a strong working relationship too.
There are some of my clients that were already feeling a negative impact post the BREXIT vote. One specific example is where the company sells into the EU Zone. As a result of some prompt work, across the whole team, they have made some significant business changes that should see their business weather any initial challenges and put them in a strong position going forward. The business owner said that BREXIT prompted him to make changes to his business model for the better.
The key message here is to do something. Start with a review of your business. Dust off the business plan and choose how your business will succeed.
I recommend finding an independant facilitator to help run a brainstorm session.
