Interestingly, everybody reported having had a pretty good year to date and feeling really quite positive about the year ahead. However, we were all mindful that we are largely working in service industries, which thus far have been relatively unaffected by our unstable trading environment. That’s not to say things won’t change – if our clients’ circumstances change, there will inevitably be knock on effects.
So how do you plan for and mitigate for a business environment which is so uncertain and beyond our control? We thought it might be worth sharing here some of the thoughts we had as a group which were:
- Firstly, keep things in perspective and don’t fixate on things you can’t control.
- Continue doing what you do well and keep your clients close. Look after them well and add value to your current relationships wherever possible.
- Think about whether your business can capitalise on uncertainty. We had two solicitors round our table last night and both agreed that for them, the current uncertainty presents great opportunity for the legal profession!
- As small businesses with an entrepreneurial spirit, we are well placed to be creative and versatile with our businesses. We can be “fleet of foot” and quick to adapt to new situations. We need to be alive to the big external shifts that are taking place and be prepared to learn fast, spot new opportunities and diversify to fill emerging gaps.
As with all our meetings, it’s great to share ideas, offer support to friends and colleagues and know that you are not alone. All whilst catching up over a glass of wine and nibbles. What’s not to like?