22-11-2024
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Read MoreYou’re not alone in worrying about the future of your business
You’re not alone in worrying about the future of your business
They say it’s lonely at the top, but the COVID-19 made this sense of isolation even more tangible for company leaders who’re having to steer their organisations through difficult choices, challenging conditions and toward an uncertain future.
The most important thing to remember though is that you are by no means the only one in this position.
Nine months on from the UK’s first national lockdown in March, there’s still plenty of confusion and uncertainty around what the future holds and the pandemic has had a huge impact on every part of society, transforming our professional and personal lives completely.
Independent businesses, SMEs and large corporations alike have had to make significant adjustments to how they work this year, with the pandemic having clearly shone the importance of adapting to survive and moving on from practices that no longer have value.
We’ve helped a number of clients throughout the pandemic as they’ve made crucial business decisions to secure their future, and adapt to what is a confusing time. Many people – from workers to CEOs – are understandably concerned about their job security and the future of their business. But know that we’re all in the same boat, and you’re not alone.
Overcoming isolation
Being a business leader or entrepreneur can be a lonely journey, but at the moment it might feel even more isolating for those who need to drive change in their organisation to get to the other side of the pandemic.
If you’re a business leader, you might feel as though you can’t talk to anyone about how you’re feeling or the decisions you need to make. But whether it’s a friend or a professional adviser, talking about your business worries and seeking support can be a great way to feel less alone on your journey. Having a fresh perspective can also be a useful way to address a challenge in a new way too, helping you to make important decisions that will drive your business forward.
On the other hand, helping someone else can also benefit you. If you’ve overcome some difficulties this year and feel more positive and confident, offering advice to someone else who might be where you were a few months ago will help to overcome feelings of isolation and be of benefit to both of you.
Helping business leaders who need an independent, trusted expert to speak to, we’ve launched a confidential clinic to support SMEs and independent businesses as they navigate the coming months.
Businesses can access free advice as they grapple with the new normal. The 30 minute sessions are held over Microsoft Teams, enabling business leaders to chat in confidence with us while working remotely.
Our head of organisational design & development, Michelle Johnson, will facilitate the sessions to discuss any issues you’re facing as you adapt your business to a new way of working.
Remember, you don’t have to do it all alone!
Financial support
Throughout the pandemic, one of the biggest worries has been centered around cash flow. For many businesses, clients and contracts have been lost over the past month as everyone cuts costs. This has been devastating for businesses of all sizes and across many industries, but fortunately, financial assistance from the government is still available – and will continue throughout the winter months.
Whether you’ve already received funding or are beginning to feel that you need additional support for your business, now is the time to assess your cash flow and forecast for the months ahead. This will help you determine where costs can be reduced and whether you need funding to see you through the winter.
We can help you identify the support that’s right for you, so that your business’ future is secure.
Make changes for the future
By now, your business has likely adapted in many ways to COVID-19. This might include your staff working from home, organisational restructuring and even a shift in the services you offer.
If your business is still operating on the basis of decisions made back in the spring and summer, now’s the time to reassess what has worked, what hasn’t worked and what changes you can make now to ease any stress you’re feeling about the future of your business. Being proactive now rather than reactive later will be hugely beneficial for your people, your clients and your organisation as a whole.
Now we’re coming to the end of 2020, many businesses – in your local area or in the same sector – may have implemented long term strategies that are built around the new ways of working, focusing on thriving beyond the pandemic rather than simply firefighting through it. Many leaders are still in this position for a number of reasons, but now isn’t the time to take a back seat or bury your head in the sand: It’s time to be proactive. Seek inspiration from organisations like this, and take the time to assess your own to see what opportunities there are for change and restructuring. Preparing now will help you to emerge from the pandemic with a business that is more resilient than ever.
Learn as you lead
As a business leader, you have probably learned a lot in 2020. Managing a flexible team while handling an ongoing crisis that may have resulted in personal and professional losses will have seen you working in new ways, and dealing with situations you may never have expected to find yourself in.
It’s tough running a business even during ‘normal’ times, so the pressure that COVID-19 has created for leaders and teams across the UK – and the world – has been the defining challenge in recent times. So if you’ve made it this far and learnt as you lead along the way, you can implement the lessons into your management style as you move forward.
Find the positives in what has been a difficult year and congratulate yourself and your team for the work that has been done in 2020. While there are obstacles ahead, you’re more equipped now to handle them than you ever have been before. You’re not alone in worrying about the future of your business, but there’s still time to ensure that that future is a bright one – for you, your clients and your staff.
If you’d like to arrange a free 30 minute business consultation to discuss any business challenges you’re currently facing, email mj@pcwconsultinggroup.com.
Please note, sessions are limited to one per business and are available until 31st March 2021.
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