As we look back over the last 12 months, we can safely say there have been some monumental changes around the World. Whilst change is inevitable and unavoidable, between the US Presidential election, the U.K. and French general elections, together with Brexit, the landscape across the world has dramatically changed. The results of these various events, to an extent, have been a surprise and contrary to the forecasts and opinion polls. These outcomes demonstrate perfectly that it is almost impossible to predict what will happen which means planning can be quite tricky.
It is important to mention here, that this blog is not politically motivated in any way, the key theme is that change is inevitable and can be extremely unpredictable.
For example, in every respect, Brexit has and will continue to cause uncertainty. Whatever our personal perspectives, leaving the European Union and negotiating the UK’s future arrangement with the EU is likely to be complicated and take a considerable amount of time. Some authorities predict these negotiations will take longer than the planned 2 years. Others suggest that there could also be a ‘transitional period’ after the deal is negotiated, which could extend the time even further.
Therefore, at this moment in time, the only certainty is uncertainty. The only real certainty is that Brexit will happen, however, we are yet to discover the details.
We do, however, need to reflect around the reality that, in the end it is in all the key stakeholder’s best interests to reach a positive and mutually acceptable outcome.
Whether you work in a large, medium or small sized business, endless uncertainty or lack of confidence will inevitably mean as, the Financial times have stated that business leaders have become cautious by either postponing or cancelling future investment decisions since the EU referendum.
So, as we proceed through 2017 and beyond, you could say things are somewhat ‘up in the air’. However, there are several initiatives that business can do to mitigate the effects of ongoing uncertainty;
- Offer a diverse service to a range of clients, possibly spread across several sectors. Diversity is crucial and can mitigate the possible loss of some clients, which may occur when relationships change or where the relationship has organically run its course
- Try and stay in the moment. As much a life lesson as a business lesson; it is important to take care of the here and now and not spend too much time and resource focussing on the past or worry about what may, or may not happen in the future. The ideal is to achieve a sustainable balance between the imperatives of today and tomorrow. This balance, to accommodate inevitable change, therefore needs to be constantly reviewed
- Prepare for multiple outcomes. A successful company prepares for multiple outcomes and recognises the importance of contingency planning. i.e. always has a Plan B.
- Consistently review. Consistently reviewing your strategy to ensure it is current is so important and an attribute of an organisation ready to accommodate change. This is particularly important to help navigate through changes in stakeholder expectations
- Constantly look for new clients whilst maintaining current relationships. The need for relentlessly effective marketing and networking strategies has never been so pivotal for future survival
We do of course, need to also consider what the reality of this endless turbulence means for each of us. Without doubt, there will be greater emphasis on;
- Our personal brands
- The reality that we need to clearly demonstrate and evidence our adoption of lifelong learning and continuous personal development
- Our ability to embrace change and recognise that what we can offer, in terms of our key skills and competencies, must be regularly reviewed and reprioritized
These are areas we will look to explore further in our future blogs and vlogs.
We are delighted to confirm that our next Vlog also focuses on Change and will be released on Monday 17th July.
As always, we welcome your feedback so please share your views with us.
Thank you.
David and Oliver.