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Business confidence

All Areas > Legal & Finance > Money Matters

Author: Roger Downes, Posted: Wednesday, 24th July 2019, 09:00

The ‘B-word’ has divided the country and, at a macro-level, has created division and debate within communities, businesses and even families. It’s become synonymous with having no idea what the future holds.

Any business that is stuck in such uncertain times, and there is an argument that all businesses are directly affected, struggles to deliver its business plan with any confidence. I have some sympathies for them, although I’ve met a few business owners who are simply blaming the ‘B-word’ for what are essentially their own management failings.

When you’re running a business, the best thing to do is to manage those things that are within your control and contingency plan for those things that are outside it. Far too many business owners are blaming circumstances over which they can never have control for their own failings of business planning and/or management.

For some it’s a crisis of personal confidence in an uncertain world, over which they feel they have no control. They are missing the point; they need to go back to the reasons why they set up in business in the first place and start backing themselves to delivering their original plan.

Believe in yourself as a business leader

The key is to believe in yourself. If you don’t who is going to do it for you? I remember from cricketing days, if a bowler dropped a catch off his own bowling, how could he expect his colleagues to catch if it came their way. The same applies in business – take that catch off your own bowling and believe in yourself as a business leader, and those around will show support by taking their catches too.

Of course, the B-word isn’t the only uncertainty that faces small businesses in the UK today. Concern over the impact of, and compliance with, new digital reporting rules to HMRC, increasing legislation (despite promises from successive governments to reduce red tape) and the ability to recruit skilled staff can all hold back a business entrepreneur who does not either have the expertise or experience to manage a situation.

The message is clear – don’t stop believing in yourself and your ability to drive your company forward, whatever the outcome of those matters outside of your control.

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