Two months to Brexit. Watch and wait or innovate and grow?
UK businesses have a little under two months to watch Brexit unfold and try to decide how to move forward. Conventional advice is to watch the pennies and mitigate the risk of getting caught out if and when rules change.
This is brilliant news for innovators.
Your colleagues have been working on Brexit planning for months, and they probably have a pretty good idea of the scenarios that could play out. So, let’s give them something new to do for the next few weeks.
You’ve still got time to dedicate to new and innovative projects:
- Time to build a plan that your company can focus on.
- Time to set a strategic direction that will carry the business into a new phase of growth.
- Time for interesting, creative, transformative work, while the supply chain servicing your current business worries about what new costs Brexit may send your way.
room44 has a unique perspective on business – your business.
We don’t believe the traditional way is the only way.
We don’t believe the only thing you can do is to wait for bad news.
Let us show your team the way to a new plan.
It’s a programme for change-makers. The ROI is clear and precise:
- Drive new products to market faster than ever before
- Increase sales from new products, current and new markets
- Have more ‘hits’ as a % of ideas started
- Balance criticism with market insight
- Develop an enquiring mindset
- Bring future profit forward to today
Traditional thinking vs Future Thinking
The table below compares what a well-known accountancy firm suggests you should do with Brexit looming, and what we say about that. You’ll have done most of what’s suggested in column 1* and now you can invest a few short weeks more profitably?
| ‘What they say’. | What we say |
| Regulation and compliance
Maintaining compliance with changing regulatory frameworks will be crucial to enabling a business to continue to operate and trade across the EU and non-EU countries as they do now. For example, businesses will also need to consider how Brexit might impact their ability to access some tax reliefs and whether insurance provisions will still be appropriate. |
Good, pragmatic, conventional advice, but…
you’ve probably been planning this for ages, and you still can’t be sure you’ve guessed right. Let’s not keep doing the same thing. Now is a perfect time to see things differently. |
| Financial planning and management
Forecasting the impact of decisions and price shock uncertainty will be crucial to maintaining business continuity. Equally important will be the ability to access finance to fund suitable working capital requirements. |
No matter how well you are planning and managing your finance…
…your buffer won’t last. You need to grow. Innovation is the answer and it’s within reach, this quarter. |
| Trade
Can your supply chain withstand Brexit? Businesses need to consider the potential impact of increased customs duties, greater regulation causing delays to the movement of goods and services, and the effects on cash-flow. Have you made sure your suppliers have also considered this? |
Yes, it can.
Will you be affected by increased charges? Possibly. But if price rises are inevitable, you won’t stop them. See it differently. Now is the time to start. |
| People and talent management
Changes to UK immigration policy will have a profound effect and businesses should be thinking about how they will continue to recruit and retain the right people to maintain business continuity and make the most of Brexit opportunities. |
The skills shortage in the UK goes beyond access to EU labour resource.
Let’s focus on what we can influence… …like how we see markets evolving and how you meet developing consumer need. |
| Business management
Avoiding disruption to core operations and maintaining business continuity will require careful planning and may involve restructuring the business or acquiring additional entities in different jurisdictions. This may also mean outsourcing key areas to increase efficiency and enable a business to focus resources elsewhere. |
…or be the disruptor.
If your competition isn’t planning to nail you while you’re fussing over Brexit, they’ve missed a trick. Let’s assume they have. This is your big moment. room44 is your weapon of choice. |
- The programme is written.
- It’s adaptable precisely for you.
- We’ve even set some time aside to take on a small number of projects in February.
- The workshop just needs a room and a date.
Your next e-mail is where it starts. Click here over to you and the e-mail is set up for you/
Future thinking. Future-proofing. It’s what we do.