In their most recent magazine, Hazlewoods business advisers spoke to a range of business leaders from start-ups to international organisations to find out what steps they had been taking to build their #BusinessForTomorrow.
Despite the challenges many businesses are facing right now, there was no shortage of leaders keen to share their stories from recent months and their vision for the future, clearly demonstrating the resolve of the business community.
Managing Partner, Jon Cartwright explained: “It has been quite remarkable to see the perseverance, determination and sheer indomitable spirit in those we work with, and those within our own business too, over the last few months. Practically no-one saw any of this coming, and yet what many businesses have managed to achieve has been nothing short of incredible.”
Understandably, the future was a focus for all leaders; the current situation is challenging for everyone, but many businesses are looking to move forward positively. Paul Bence of Bence Builders’ Merchants identified that being able to show empathy and demonstrate understanding of the impact of the crisis on individuals goes a long way to developing the trust your employees have in you and a stronger team for tackling what the future holds.
It was encouraging to hear that many businesses have used the pause in operations constructively to review their business setup and make necessary changes for the future.
Recruitment agency, GB Solutions, has implemented changes to take the vast majority of their operation online and into the cloud. The partners found themselves in a position where they were forced to make immediate changes that may otherwise have taken them a few years to progress, and now find themselves moving forward from a stronger, more agile position.
Even the start-up businesses are refusing to be deterred by the challenges of the recent lockdown. Husband and wife team, Gideon and Cathy took on the Cotswold Book Room in late 2019 and have used the recent months as an opportunity to review their business and work with advisers to make sure all of the systems they have in place are efficient and ready to go when they eventually open their doors.
Where many businesses have been negotiating change in order to survive, some have found themselves in a more fortunate position due to a change in market conditions. Lockdown restrictions in the United States began an unexpected surge in sales for Gloucestershire-based, Stewart Golf, and the team found that having a well-established distribution partner in the United States and focusing on effective marketing for the last 10 years has enabled them to take advantage and achieve incredible success.
Whatever the situation, the business community is showing a determination to survive. The insights and knowledge sharing provided by the articles in the Hazlewoods magazine provide some thought-provoking ideas which could prove to be very useful for many businesses.
To complement the opinions of those in business, Hazlewoods released its five key areas that leaders should be reviewing in their businesses right now. The future is set to remain uncertain and it is crucial for businesses to have an agile strategy that has fully reviewed and incorporated:
- Cash flow
- Supply chains and business efficiency
- Management information and KPIs
- Business structures to mitigate risk
- Communication strategies
To download the Hazlewoods magazine with full detail of Hazlewoods top tips and business leaders opinions, or for further insights and advice to support businesses in building a #BusinessForTomorrow, visit the dedicated resources webpage which is updated daily: https://www.hazlewoods.co.uk/responding-to-the-coronavirus.
For more information on Hazlewoods business advice, please contact Scott Lawrence at firstname.lastname@example.org or 01242 237661.