The Value of Business ‘Drills’

With so much uncertainty around Brexit and the factors that surround it many businesses are wondering what they should do to protect themselves against any eventuality.

We were recently part of a big Event run by one of the major Banks in Wolverhampton where their Head of Economics was honest enough to say that NO ONE knows what is going to happen in the next few weeks/ months.

One thing is for sure – not knowing what is going to happen is absolutely no excuse for doing nothing and it is probably even more important right now to ensure that your business is ready for any outcome and future proofed.

But isn’t that just the problem – you don’t know what to expect so what can you do?

How would that Mindset sit then with, for example, the Fire Brigade? Can they predict what emergency they will attend next? Will it be a factory fire, high rise block of flats, hazardous substance issues or rescuing a cat off a tree limb? Do they therefore turn up and try some things out on the job?

You know the answer – before real events they have ran through drills, role playing various situations, to prepare themselves thoroughly for the real thing whenever it occurs. They ensure that whatever the requirement they are ready and equipped to deal with it. Of course, nothing competes with real time experience, but it is totally unacceptable to go in unprepared. This is how you as a business should view the future. Are you ready for anything? The fact is the more you practice and get in shape the better you will be at dealing with whatever occurs giving your business a better outcome.

Why can’t you prepare for, say, a significant increase in costs as a result of an adverse FX position? What would you do? How could you handle it? How can you protect your margins and retain your customers going forward? Are your team capable of dealing with it? Do you have the skills – if not get help and get them in place.

These ‘rehearsals’ should involve a number of your people. Knowledge doesn’t always rest in the heads of the position holders and IF you allow the team to think creatively and express themselves, you may find some gems in terms of constructive solutions being produced from the most unlikely sources.

So In Summary
    • Prepare – for any eventuality
    • Reach Out – for help if you need it
    • Practice – to make your response an effective one
    • Perfect – your approach and techniques by ensuring that your team are trained up fully on what to do and absolutely ready to go

To wait, will be too late… For a free meeting with us with no obligation to discuss your challenges, get in touch at:

07747 023610

David Turner

Managing Director