Riding the waves of change | Tim Watkins | Randall & Payne Accountants & Business Advisors

Riding the waves of change

One day I may be able to write my view with everything looking rosy in the outside world! This time last year we were cancelling Christmas parties and shutting ourselves away again as another wave of covid spread.

This year covid seems to be taking more of a back seat and instead we now have to contend with high inflation, difficulties with recruiting, frightening energy prices, a war in Europe and industrial unrest in the public sector. Sitting back and thinking about all the negatives out there isn’t a comfortable experience! All these things though are out of our control.

Business thrives on confidence and there are plenty of things that are within our control that can give each of us confidence that we can weather the storm and come out the other side. Planning and budgeting for a range of scenarios, from worst case to best, can help tell us that we will get through. If it doesn’t then it gives us the information to start thinking about changes we can make that will make a difference.

Change isn’t something to be frightened of. It could be as simple as reviewing costs and cutting out what might be unnecessary, it could be looking at processes and making them more streamlined for better efficiency, it could be making sure you are pricing your product or service correctly. There are many aspects of the business that can be looked at and the trick is not to try and change everything at the same time. Work out where you can make the biggest difference first and then do it, you will feel better and it will give you the confidence that the future can be rosy.

Sometimes it is difficult to sit back on your own and do that business review. That’s why we are here, we have all seen different businesses and different situations and have experience to share. We run advice clinics if you want to come along for just an initial free chat. Your success is our priority, even more so in these tricky times.

I am fortunate to have a my Partners, as well as an experienced senior leadership team who meet regularly, sharing thoughts, and concerns, and using this dialogue to adapt our strategy to move forward confidently. Remember we are all in this together, so share your circumstances with fellow business owners and colleagues, the chances are they will be just as relieved to share their troubles, and maybe have some insight that you hadn’t considered.

Our quarterly Business Bootcamps bring together business owners and managers to challenge thinking, help develop new perspectives and deliver results. By bringing business leaders together these Bootcamps create the opportunity to benefit from interacting with each other and sharing their ideas and experiences. To join in the next one contact us to find out more.

Doing nothing is easy, which is why so many people do it, but doing nothing in business can be the difference between riding the waves of change or drowning in the sea.

Contact Tim Watkins for more information by emailing or call 01242 776000.