There’s a lot going on politically within the UK right now. Ahead of the general election, politicians have been trying to out-campaign each other in a bid to become the party in the driving seat for the next four years. But while the fate of the UK is in their hands, one element that will not change is that Brexit is here to stay, irrespective of which party succeeded. Be it a hard or soft Brexit, the UK will be leaving the European Union.
In light of this, it would be easy to get worried about the future of our businesses. But I’m a big believer in the power of positivity: sitting around moaning will not help your franchise grow. So don’t park your aspirations or shy away from making tough choices.
Important decisions you make now could impact on how your company performs through potentially challenging times. I started my property franchise HomeXperts in 2009 in the depths of the biggest property recession in history and that didn’t hurt me.
So turn that frown upside-down: there are plenty of ways you can make the most of Brexit.
Don’t use Brexit as an excuse for poor performance
While Brexit may close some doors, that doesn’t mean that you can blame all of your business woes on Britain’s departure from the EU. It will also create new possibilities for companies, opening up new markets and income streams. Keep an open mind and continue looking for new opportunities, customers and market segments for your products and services.
Keep an eye on cashflow and credit flow
If times get tough, it’s not only cashflow that needs controlling but credit flow too. You can control credit flow by invoicing on time and chasing any outstanding money you’re owed. When money’s tight, it’s imperative you have a handle on how much cash and credit you have on your books.
Be prepared to streamline your business
Prepare in advance for potential tough times by taking a hard look at your business and asking if anything can be streamlined. If there are ways you can tighten your belt, don’t wait: cut costs now because the cumulative effect of savings can be significant.
Look after your mental health
Many entrepreneurs say that the health of their business bears a direct relation to their own mental health. So it’s a wise move to make time for yourself and sleep well. An infographic produced by HomeArena, the online bedroom furniture store, revealed that 54% of highly successful people sleep at least six hours a night, revealing the importance of a good night’s sleep for business people. If you’re going to adapt to the shifting landscape post-Brexit, ensuring you’re happy and well-rested will be critical.
The most important element is not to let external forces affect how your business performs. Be brave, be bold and be positive. Because, irrespective of the election results, the UK will make Brexit work.