As we get closer to Brexit, it is easy to lose confidence.
However, the fact is that all organisations are capable of doing things differently to reduce their exposure to events and plot a course to success.
During good times it is important that you allow your business to flourish and control your expansion. In tough times, such as Brexit, it is even more important to maintain your confidence so that you can overcome these problems. Remember, the role of a Manager is to deal with any problems that arise, so don’t complain about the problems – they come with the territory.
There are nine things that you can do to mitigate against the effects of Brexit.
- Think positively. Always behave as though you will overcome any difficulty, even if you haven’t worked out how yet. If you approach things as though everything is a disaster, there is a greater chance that it will be.
- Take a long hard look at the business. Are you doing the right things or has the market moved in a different direction?
- Think strategically and take action accordingly. This is a good time to take stock and either prepare a strategic plan or check that your existing plan is appropriate.
- Change things. If you do not make any changes, you will only get the same results.
- Examine your finances, in detail and take action to put them on a sounder footing. If you stop making good profits, find out where the problem is by looking at your finance data more accurately.
- Increase your marketing, sales and public relations activity. Do not look in this area to make cost savings. Marketing and sales is not a cost, it is an investment – or is if you do it properly.
- Use technology to improve the productivity of everybody in the company.
- Communicate with your people effectively, regularly and encouragingly in order that you can achieve results.
- Do not compromise on quality. It is important that you retain as many of your existing customers as possible and the best way of doing this is to maintain the quality of your goods and services.
The most important aspect of managing a business is to be alert to any changes which require a response from the company. The more skillful you are at managing every aspect of your business, the greater are your prospects for making changes that protect your business and make it strong – even in the uncertain times which Brexit represents.