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No.62 - Are You Ready For Brexit

2018 Nov 29, 2018
Last week I was invited to speak on an Expert Panel at the Edinburgh Business Show. The subject we were focusing on was:
 
“Technology as a driver for growth for Edinburgh-based businesses in a post-Brexit world”
 
My preparation for this event saw me examine in detail my own reaction not just to the subjects of technology & business growth (in Edinburgh and beyond) - which I talk about very regularly, but also the dreaded B-word - ‘Brexit’.
 
Yesterday was yet another watershed day in our Brexit journey. One more step in the journey has been ticked off the list… so we continue to move ‘forward’ (depending on your personal view point).
 
I must admit that over the last two years since the Referendum I haven’t spent a great deal of time thinking about it. That may seem strange, as I am a Business Coach, but for me once the dice was cast and the result was in, it was clear that for some considerable time to come I would have no power or influence over what happened next.
 
As a remain voter I suppose I could have forged alliances and campaigned for the result to be over-turned - but I learned many years ago that you need to pick your battles carefully! Our time and energy are finite resources and we need to use them wisely. I had a million other things to focus on the grow my own Business (and those of my Clients).
 
Anyway, here we are, with less than 6 months to go before we formally ‘separate' (I’m not sure 2019 really counts as the full ‘divorce') from our EU companions.
So, this morning having put my own thoughts into words for last weeks Panel, I asked the Members of my Business Club - Are You Ready For Brexit?
 
You can be forgiven for thinking that this is a stupid question - given that we are still just as unclear on how Brexit will impact small Businesses (or large for that matter) - How on earth can we prepare?
 
Well I decided to hang my thoughts on this subject on some things that I know to be true from my own 36 years of experience as a Business Owner. You see, I’ve lived through a number of similar huge ‘changes’ or ‘crisis’ depending on your view.
 
I was in Business through Black Monday (Monday, October 19, 1987), when stock markets around the world crashed; and interest rates soared; similarly ‘The Crash’ in 2008. And I’ve also had my entire Business model and Customer base ‘abolished’ the the Government - not once, but twice, during my time in Business! Careless some might say!

So, what are my ’Truths’?

Well, there’s no surprise in how I start - Brexit is riddled with ‘Known Unknowns’ AND ‘Unknown Unknowns’. So that means we can be relatively certain of more instability to come!
 
When our surroundings are unstable we need to start building our own stability from the inside out. i.e. we need to work on building a strong ‘core’. Developing this core of steel will help us to future proof ourselves.
 
The next thing you need to work on is your Mindset. Attitude is everything.
 
John Wooden (the famous American Sports Coach) says:
“Things turn out best for the people who make the best of the way things turn out”
 
This is SO true. Our job is to face whatever happens next and respond flexibly to see the opportunities, and grab them. It is certain that whilst some may lose out because of Brexit, others will benefit and prosper. Our task is to find the positives.
It’s at this point that The Serenity Prayer’ comes to mind:
 
“Grant me the serenity to accept the things I cannot change; the Courage to Change the things I can, and the Wisdom to know the difference”
 
We need to use our time and energy effectively.
 
Tony Robbins tells us that:
“Your life is controlled by what You Focus on”
 
So, our Focus must be deliberate and targeted.
 
In order to do this we need to be certain; not at some point in the future when we know more about the Brexit outcome, but NOW, about our Core. Our Foundations.
That means being clear about what we do; who we do it for; and what difference that makes to our customers and clients. Being honest with ourselves about our income; our out-goings and our Business Model; so that we can be flexible and adapt.
 
Charles Darwin put is best:
 
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change”

So, how do you 'Bullet Proof' Your Business?

Like everyone else I have no empirical answers for you - because YOU ARE THE ANSWER.
 
The detailed answer will be different for everyone of us.
 
But what I do know is that it all starts with working on your core; focusing on your foundations; finding Your People and Support Networks and relying on what YOU do best to help you to adapt to the future.
“Getting back to basics is the best way to find clarity and calm in the chaos”
Before the impact of Brexit really becomes clear we need to work on our ‘Foundations and Fixes’!
 
Until next week,
Karen
 
 
If you want to take part in our December Business Club Kick Starter Challenge, to help you to strengthen your ‘Foundations' and implement your ‘Fixes’ you can join us in the Ideas Into Action Business Club (up until 31 December) for just £29 a month (guaranteed for life!). There’s no fixed term contract - we are certain you won’t want to leave!
 
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