Thriving on Uncertainty

Dear Members,

We have become accustomed to taking decisions based on plotting a path to a known or defined future. That is leadership.

How do we protect our businesses, families, staff, suppliers and customers when that future is uncertain?

The answers will depend on many factors. None of them are straightfowards, because with uncertainty comes risk.

The Stockdale Paradox says that we shoud be realistic about the downside and manage the upside from there.

Alan Kaye said  “The best way to predict the future is to invent it”

Invent What? Where? How?

So What do we know?

We know that standing still in a changing world is a high risk strategy.

So we are all exploring how to take the first steps. The surveys below will help you to think through the current state of play in your business, and identify where you can take the first steps. If you would like you can then have a free of charge initial Chat with one of our Ambassadors. The Chamber Ambassadors are all experienced business people who we know are both discreet and get results.

This is our best guess so far

  1. Do you want to Get Out of all or part of the business
  2. Do you want to Continue with all or part of the business

Get out

Please place the options below in order starting with the option that best represents your circumstances.

  1. Do you want to Sell to a 3rd Party
  2. Sell to staff
  3. Take the money and run
  4. Continue to be involved in some capacity
  5. Close all or part of the business

Free Flow text – What are your objectives – Please expand

Continue trading

Cash

  1. Are you funding losses, waiting for a turnaround?
  2. With your existing business will you be cash positive based on 50% turnover by March 2020?
  3. Are you cutting costs to survive?
  4. Are you looking for new markets, products and services
  5.  How urgent is 4 above?

Free Flow text – What are your objectives – Please expand

Customers

  1. What do they really need?
  2. When?
  3. How will you Deliver the service?
  4. Why are you the right fit / partner for their changing needs?
  5. Do your staff understand this?

Free Flow text – What are your objectives – Please expand

Staff

  1. Are your staff ready to step up?
  2. Can they work directly with customers?
  3. Will they build trust?
  4. How will they feedback changing customer needs to you and the team
  5. How will you manage margins in this changing world?

Free Flow text – What are your objectives – Please expand

Personal mindset

  1. Is Pride obstructing Change?
  2. Are you ready to empower your staff? Are they Up to it?
  3. Are you ready for the thrill and challenge of delivering against unknown customer needs?
  4. Do you feel adaptable?
  5. Are you stuck in your ways?

 

I think that we have been running with a fair wind for some time, mainly fuelled by debt. This was never going to be sustainable. Perhaps Covid 19 has provided us with an opportunity to get it right, before civil unrest hits us.

As ever it will be business people who save the day. This is just the next challenge. Fortunately this path to adaptability has been trodden before – See Boiled Frog Syndrome

 

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