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You are here: Home / Archives for Get BrexFit

Start Your Brexit Opportunity Odyssey with a Disruption Dive

August 7, 2019 by Malcolm Gallagher Leave a Comment

https://bizvision.co.uk Brexit Opportunity Odyssey

By Malcolm Gallagher  FCIM

It’s time to get out of your bunker and go seek new opportunities – even amidst all this Brexit Deal/No Deal uncertainty.

Unless you have a real pile of cash to waste you can’t afford to sit on your hands. Plus, the more you do nothing then the more languid your people become, the more customers forget about you and the more your business value dwindles.

So, what to do?

Now I am sure you have been through all the usual Brexit checklists on supplier contracts, customer contracts supply chain and so on. The usual battening down the hatches in tough or uncertain times. Or perhaps you are like too many other businesses, hiding away until the summer holidays are over.

Is that truly the best way to lead your business? How about seeking and seizing the opportunity – there is plenty of it around as I’ve been helping clients find out.

Take one of my brewery clients. With our Tourism Plus Channel, I’ve got them to focus on a very special event next year – VE Day – the 75th anniversary of the ending of WW2 in Europe. By some special branding and contacts, I was able to provide, and by doing things now they should now be able to make 2 if not 3 years profit just in that one-weekend event.

Take my business law client who through aligning alongside our Supplier Plus Channel and our bid readiness and tender writing services has got a new, sustainable and immediately buoyant revenue stream on contracts preparation, T&Cs, and other relevant documentation.

Take my Gin School client who provides a world-class product as well as an attractive venue. They have aligned themselves with my Leadership Plus channel and team-building courses to be able to offer a key solution to the people retention and people growth challenges faced by corporate companies today, especially around uncertainty. Win-win all round.

Okay, those 3 examples were a bit self-centered around me but I wanted to show you that real and profitable opportunity is there NOW if you look up and around.

So how do you start what I call your Opportunity Odyssey. Yes, I say Odyssey, a lengthy journey with lots of highs and lows along the way. Uncertainty is the new global norm and there is no way there will be an instant Brexit quick fix – it will continue to be a challenge and so will your Odyssey to discover opportunities.

But get started!

Start your Odyssey with the word “Disruption”. Disruption will occur if there is No Deal or if there is a Deal or even if there is Remain. Disruption is becoming endemic in business – mostly through technology or Industry 4.0 or climate change and so on.

The Disruption Dive

Stage one of your Opportunity Odyssey is what I call your Disruption Dive.

Think which markets or clients that you serve or want to serve or could serve will be subject to disruption. How can what you do, or offer, help them be successful?

What new products or services could you develop to meet prospects needs?

Now this Disruption Dive exercise requires foresight, knowledge and a good deal of lateral thinking. But I know it works as I’ve facilitated it for many clients!

Don’t do it as a solo exercise, by yourself, but instead get your team involved or even external help for facilitating.

It can be great fun and you’ll likely end up as I do with a wall full of mind maps or a crammed whiteboard but, provided you do it correctly, the light bulb moment will happen!

There are other parts of the Opportunity Odyssey for you to discover with me over upcoming posts, episodes, videos, and courses here on the BizVision Network. But for now, get started with your Disruption Dive. Get in touch with me mg@bizvision.co.uk if you need any help or prompts.

Filed Under: BizVision Network, Change Leader, Get BrexFit Tagged With: Bizvision, Brexit, Brexit No Deal, Brexit Opportunity, Brexit Strategy, Disruption Dive, Malcolm Gallagher, Opportunity Odyssey

Brexit- 2 Top Tier Actions To Take

June 1, 2019 by Malcolm Gallagher Leave a Comment

https://bizvision.co.uk  The Brexit Crystal BallIt’s Malcolm Gallagher here in the BrexFit Bunker with my call to action piece. Recently I’ve been giving a lot of thought as to how you, on behalf of your business, can see through all the current political smoke. That smoke is not going to clear for some time but you can’t afford to wait until it does.

You need a strategy to be able to move from surviving to thriving. Coming up are 2 top tier actions to take.

So how to do it? There’s no quick and easy solution. It requires some insight thinking and scenario planning. In this post, I’m giving you my suggested starter actions and I’m going to focus on two top tier considerations you must take as leader of your business.

FIRST Top Tier CONSIDERATION – No Deal Outcome

First, let’s look at what you need to be considering. There are likely 3 basic outcomes and these are deal, no deal and remain. You’ll know about those three already. But at the time of writing this, I suggest the position is that “no deal” is not only possible but arguably far more likely than it appeared at the end of March which was our first EU leaving date.

With UK Government more fixated on its own internal troubles and leadership challenges, your need for sound business preparation and resilience planning has certainly become more acute.

A no-deal Brexit will inevitably mean that dreaded word “change” will happen – and it will happen quickly, almost overnight.

What preparation have you made or are making for no deal? Any preparation won’t be wasted effort because you may need that preparation if there’s another outcome such as an extension beyond October 31st.

Some areas of preparation include the following:

GDPR and the movement of personal data between the EU and UK could be a key impact. In the event of a No Deal, you may need to change or adapt your processes regarding data transfer. There’s the likelihood of the need for a thing from the EU to the UK called an “adequacy decision” to be granted and that may take time to do.

Just to give you an indication of the seriousness of this. It may affect just the receipt within your UK business of an email from an EU citizen. Don’t assume it will be all plain sailing. Prepare!

Another area of concern is that, with a No Deal Brexit, there won’t then be a system of reciprocal recognition of professional qualifications between the UK and the EU. This means some professionals may not be able to deliver services and advice in the EU. Again, it will take time to put the right recognition in place. Just think about the impact this may have with the medical profession let alone lawyers and accountants!

One area I am already experiencing regarding a No Deal impact is the impact on those people from the EU who are living or working in the UK and will have to apply for indefinite leave to remain. That’s called ILR and is also known as settled status. It’s a major impact on sectors such as hospitality. For example, around 25% of all chefs in the UK are from the EU.

And then there are the unknown areas such as how with such EU citizens you will handle payroll issues such as tax and NI contributions.

There are many other issues that we know about here at BizVision within our BrexFit activity. You need to find them and to take action.

Think about these 3 steps to prepare yourself and your business.

  1. Decide which of the necessary preparations you and your team can handle and which you need outside expert help.
  2. Get reading. Scour documents such as the UK Government technical notices. A good idea is to start your own digital library of such information. We’ve done this for the last 2 years here at BizVision with our own BrexFit Library so we can help guide clients. It’s all been keyworded so we can be agile in our response.
  3. Keep talking to your customers and your suppliers. Reassure them of your future and make certain they are also taking No Deal preparation action.

Now for the SECOND top tier consideration. Uncertainty will be the norm.

So far it has likely been hard for you to prepare for something when you are not sure what the outcome will be. However, and I speak from long experience and observation here, uncertainty will not go away. The world is and will continue to be, in a state of uncertainty. It’s not just EU but for example, issues such as Trade Wars, Cyber Security, Political Unrest, Emerging Nations, Climate Change amongst many others.

As we’ve been saying here on the BrexFit podcast and BrexFit TV for over a year you need to view uncertainty in a different light.

Most leaders are viewing uncertainty as a risk. Now is the time to start viewing it as an opportunity. Switch from survive thinking to thrive thinking.

Look for the areas of opportunity. Many see it as in what is called Industry 4.0 especially in the use of technology and the application of innovation.

I’ll cover more of this in a future Bunker posting and on our BrexFit TV channel. But for now, are you prepared to switch thinking and see uncertainty as an opportunity?

We’re not only covering more of preparation in BrexFit future podcasts and on BrexFit TV but importantly at our Brexit War Room Live events and our forthcoming Brexit Digital Go Kit.

Filed Under: BizVision Network, Get BrexFit Tagged With: Bizvision, Brexit No Deal, Brexit Uncertainty, Get-brexfit, Malcolm Gallagher, No Deal Brexit

Winning at times of uncertainty – like NOW!

May 29, 2019 by Malcolm Gallagher Leave a Comment

https://bizvision.co.uk Winning at times of uncertainty

 

 

https://www.bizvision.co.uk/wp-content/uploads/2019/05/Timesofuncertainty.mp4

Hello, its Malcolm Gallagher host of the BizVision.co.uk network of online business channels.

The words worry and uncertainty are looming larger than ever in UK business at the moment.

Yes, there’s a lot of frustration and annoyance but what is concerning is very little action being taken. Inaction causes decay. Coming up are my ten principles of winning at times of uncertainty.

  1. Get the right mindset – times of uncertainty brings an opportunity to build your business. I know I’ve been around long enough and done it.
  2. Don’t assume your business category will behave like all the others. Are you paying attention to the trends and what’s happening in your sector? There’s lots of information out there for you to grab & use.
  3. Run what I call “opportunity scans” to inform & strengthen your win strategy. Too many businesses are too introvert and don’t think laterally enough. Sometimes a fresh pair of eyes works wonders in seeing the opportunity.
  4. Raise your game at the Point of Purchase. How are you helping your customer make the decision to buy you? Or let me put it another way, where, or how, are you preventing your customer from buying. You’ll likely need an honest approach to manage this one!
  5. Know who your priority customers or buyers really are and what they are doing, thinking, feeling right now. How important to them is what you make, do or offer? How can you remind them of this importance so that you are NOT downgraded in their purchasing priority?
  6. Watch your competitors even more carefully and act against them decisively. Don’t be soft here as they are likely to be predatory in these uncertain times. I wrote and filmed recently about how to stop them from stealing your customers by using my negativity strategy. Click here for the “stop them stealing your customers” post
  7. Maximise your Marketing Mix – be flexible and experimental. Marketing is constantly changing in its channels and reach. Customers are constantly changing in their behaviour and needs. Don’t just stick to what you have been told is the norm. Make sure that, at the very least, you are measuring your marketing effectiveness with sound KPIs that are focused on the pull through to revenue.
  8. Spend and act smart – make efficiency and effectiveness your watchwords. Allow no waste and no complacency. What’s your conversion rate from enquiry to a customer? Is it slipping or improving? What’s the average spend? How long are sales taking to get through your sales funnel? Make sure you employ my favourite assistant here. She’s called Ruth Less!
  9. Prioritise keeping current customers over getting new ones (unless you can manage both!) Make sure you are ring-fencing existing customers and giving them all the benefits you would give to a new customer. Think creating a community or tribe to draw in their loyalty.
  10. Show leadership (both internally & externally) Show it with your close team, your broader company, your influencers, your customers and especially your suppliers.

I constantly see a lack of leadership in businesses but what I also see is the decay happening to that business and the missed opportunity from inadequate leadership. I’m not blaming those leaders, many of whom may not have ever experienced uncertain times. My grey hair testifies that I’ve lived and survived through a number of them!

So get stuck into the ten principles. Add or subtract as you want but at least do something! Have I missed any or have you got any to add?

Filed Under: BizVision Network, Change Leader, Get BrexFit Tagged With: Bizvision, Brexit, Change Leader, Malcolm Gallagher

BrexFit Bunker – Business Continuity Planning

December 20, 2018 by Malcolm Gallagher Leave a Comment

In this 2nd “spotlearn” video from the #BrexFitBunker, Malcolm Gallagher introduces you to the essentials of a #Brexit Continuity Plan also known as a Brexit Contingency Plan or BCP. Know how to mitigate risk and the steps of a plan.

https://www.bizvision.co.uk/wp-content/uploads/2018/12/BrexFitBunkerVideo2.mp4

Filed Under: Get BrexFit Tagged With: 2019 Success, Bizvision, BrexFit Bunker, Brexit, Get-brexfit, Malcolm Gallagher

BrexFit Bunker Video 1 – No Deal Introduction

December 19, 2018 by Malcolm Gallagher 2 Comments

#BrexFit Bunker Video 1 with Malcolm Gallagher of https://bizvision.co.uk

The BrexFit Bunker is a new series of short “spotlearn” videos presented by Malcolm Gallagher. Each video aims to give you incisive knowledge on a #Brexit action element. Video 1 is an introduction to a No Deal scenario,

https://www.bizvision.co.uk/wp-content/uploads/2018/12/BrexFitBunkerVideo1.mp4

Filed Under: Get BrexFit Tagged With: Bizvision, BrexFit Bunker, Brexit No Deal, Get-brexfit, Malcolm Gallagher

Get to the Point BrexFit video No 2

December 12, 2018 by Malcolm Gallagher Leave a Comment

Get to the Point BrexFit video No 2

This is Video 2 in our Get To The Point series with Hugh Morgan-Williams and Malcolm Gallagher. In this video, Malcolm asks Hugh if an external communications campaign at this time in #Brexit negotiations may hurt the business.

https://www.bizvision.co.uk/wp-content/uploads/2018/10/GetToThePoint2.mp4

Filed Under: Get BrexFit Tagged With: Bizvision, Brexit, Brexit PR Strategy, Get To The Point, Get-brexfit, Hugh Morgan-Williams, Malcolm Gallagher

Labour and Brexit? Sir Keir Starmer Interview

December 12, 2018 by Malcolm Gallagher Leave a Comment

https://bizvision.co.uk/brexfit

For our BrexFit channel we recently video interviewed Sir Keir Starmer, Shadow Brexit Secretary. Hugh Morgan-Williams asked the questions and, myself, Malcolm Gallagher filmed the interview and produced five short videos.  In video 1 Sir Keir says how Labour would go about the Brexit

https://www.bizvision.co.uk/wp-content/uploads/2018/12/LabourApproachtoBrexitVid1.mp4

challenge.

Filed Under: Get BrexFit Tagged With: Bizvision, Brexit, Get-brexfit, Hugh Morgan-Williams, Malcolm Gallagher, Sir Keir Starmer

New “Get To The Point” Brexit video series launched

October 19, 2018 by Malcolm Gallagher Leave a Comment

New “Get To The Point” Brexit video series launched by Get BrexFit team

by Malcolm Gallagher

When we’ve been out and about with our Get BrexFit podcast and filming, a host of small and medium-sized businesses have been giving us their “Brexit feelings”. Some of it has been quite strong (take note politicians!). And others very perplexed, unsure and looking for sensible guidance. I say sensible because there’s a lot of narrow-thinking out there and its likely to get worse and possibly harmful to you so beware! To help we’ve taken a selection of your questions and comments and made them into a #GetBrexFit video series we’re calling “Get To The Point” – because that’s what you seem to want, not the self-centered waffle that’s out there! Anyways you can try us out with below Video One in the series. More will be posted over the coming weeks.

The idea is that we take one of your key questions which I narrate. Then it’s over to my BrexFit co-presenter, Hugh Morgan-Williams, to give you our answer. Hugh spends nearly two days a week just researching Brexit so he has bountiful knowledge as well as being a sad person doing that!! But it’s sound knowledge you need along with sound advice – and that’s our aim at #GetBrexFit.

Watch the video below – Video 1 is on the need for financial resources – listen to the weekly Get BrexFit business podcast and contact us if you want to see, size and seize the Brexit opportunity.

https://www.bizvision.co.uk/wp-content/uploads/2018/10/GetToThePoint1.mp4

 

Filed Under: Get BrexFit Tagged With: Brexit, Brexit Finance Need, Get To The Point, Get-brexfit, Hugh Morgan-Williams, Malcolm Gallagher

Ready for business growth? 6 key questions

June 20, 2018 by Malcolm Gallagher Leave a Comment

Ask yourself these 6 key questions to see if your timing is right for growth

says, Malcolm Gallagher of BizVision,

A key question at the moment should be “Is your business ready to grow”? Irrespective of what is happening in the bigger “Brexit” picture at the moment. In growth,  timing is crucial.

You need to decide if your business is in what I call a sensible position to journey on a growth strategy. To help you make this decision, coming up are just 6 deep dive questions to ask yourself.

  1. How is your business performing against your budget in sales, and costs? I hope you are using some key ratios here. If not then email me mg@bizvision.co.uk and I’ll send you the top 3 ratios for small businesses
  2. Thinking of your available resources, how is your business using those resources to generate profit? Or is it not? Sometimes resources such as assets are bought and they lie unused or underutilised. Also, have you sold off old equipment (say on eBay)) – a few pounds is better than nothing
  3. Is your market sector expanding or contracting? Or where is it changing? We have seen horror stories about retailers recently and problems about construction businesses. But these changes usually mean there is opportunity elsewhere. Are you missing it? Is your radar working to seek out opportunities?
  4. How are your competitors behaving? Rationally or not? What are they saying publicly? If you don’t know, you need to start what I call a Comp Set. Take your top 5 competitors and monitor them, benchmark your elf against them, keep a watch for news on their website with RSS feeds or use services such as Mention.com or Talkwalker.com to get a hold of what they are both saying and doing.
  5. Ask yourself the truthful question of how much cash have you got that is readily available to fund growth. Likely it is not enough so you need to go searching for funding. Do it soon not last minute.
  6. How well do you use your working capital? Funders will want to know but you should know this NOW not when you want more money.

Okay, there’s your six key questions to get you truly ready for growth. Armed with the answers you can make your growth decision. Which are the most relevant to you? Have I missed any key ones?

 

Filed Under: Change Leader, Get BrexFit Tagged With: Bizvision, Business Growth, Change Leader, Change Maker, Malcolm Gallagher

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