So, summer has come, and its almost gone. But the media is suggesting there is ‘new life’ and Green Shoots in our economy.
Talking to many SME’s, in particular specialist companies (those that have a real USP and sell a product / service that is not sold purely on price) the common theme of optimism is evident.
However, recently I met a company where much the opposite was true. This family run business has an interesting product, and could, with a little professional help treble or quadruple their turnover. Their turnover has been static for many years despite bringing out new products. Their profits are minimal, just about providing employment for the family members. However, the owner (Dad as they call him) when challenged with bringing some strategic direction into the business said “I am waiting to see what happens.” The funny thing was that some 10 months earlier, he was “waiting to see what happens”. And, as my memory is better than his, I can tell you that in 2009 he was “waiting to see what happens”! I wonder what his thinking will be in 18 months time?
Clearly he is consistent. He knows how to grow the business and gain new customers and markets, but again, he knew this in 2009 and 10 months ago. And nothing has happened!
There is an old saying coined by Henry Ford, ‘If you continue to do what you have always done, you will always get what you have always got’. Wise words.
Companies need to change, become smarter, reinvent their approach. Nothing new here really, but there will be companies in the fast lane, some in the slow lane, and those broken down on the hard shoulder waiting to see what happens.
The real underlying message is that opportunity is created within the business and needs to start with the company culture. Never mind the state of the economy, or the latest Government policy. The power is within the hands of small business.
If your company needs help in creating new ideas, engendering a culture of entrepreneurship into your business, or you need someone impartial to sound your ideas on, then contact the Southern Group Business Advisors. Who knows, we may be able to get you Government assistance to pay for a Growth Programme.
Why not call us : 0333 444 8522