The business landscape continually changes, keeping even the most experienced of us on our toes. With so many internal and external factors, it can be difficult to prioritise.
With technological advancements, tax changes, utility rate increases and even implications with recycling regulatory changes, running a business is a full time job let alone finding the time to manage change. Throw in a wild card overseas and it becomes increasingly important to find the time to work on the business.
Having a robust but flexible business strategy in place is possibly the only way to navigate the influx of changes we seem to see more regularly these days.
The positive to having changes imposed upon us is the opportunity to reflect and focus on the core of our business as it is too easy to just keep on doing the doing but not checking that the strategy is still fit for purpose and being followed.
In March we invited business leaders to join us at our offices to watch the Spring Statement and partake in an immediate reflection afterwards. You will probably agree there wasn’t much announced. We had a good discussion afterwards about the imminent regulatory changes which were announced in the Autumn Budget and how people felt about these.
Whether you are affected by the political landscape, compounded by economic challenges, or getting to grips with advances in AI, there seems on paper a lot to feel negative about. So, it was refreshing that some comments from the room were remarkably positive.
Those businesses who are bold, investing in their people, improving working environments, and embracing software were feeling more positive and felt prepared for the external risks.
Navigating change doesn’t mean you always have to act immediately. Interacting with other business leaders and sharing experiences is so valuable. Taking some time to find the solution that suits your business and changing what you need to, when you need to is more effective than change for change’s sake.
If you understand your business goals and can alter your direction of travel when you need to then you are more likely to reach your destination regardless of what the world throws your way.
Contact Tim Watkins for more information by emailing tim.watkins@randall-payne.co.uk or call 01242 776000.
Business leaders and professional advisors joined us to watch and discuss the Spring Statement
