How do you feel post-Brexit as a small business owner?
Aside from the intense Facebook debates over the past week, there’s an overwhelming feeling of uncertainty for small business owners especially those that survived the previous recession.
Will we enter another recession? Will things carry on as before? Will it be small business that feel the changes, whilst big business carry on as before?
Altrincham HQ was established during the recession fuelled by a desire to help local businesses market in the year they’re doing business in. It was austere times – our home town was called a ghost town by the tabloid press – and yet as a business we have grown year on year now working internationally as well as locally
So what should small businesses do post-Brexit?
1. Expand Your Marketing Budget – Don’t contract
There’s a well known quote attributed to Henry Ford “A man who stops advertising to save money is like a man who stops a clock to save time”
In times of uncertainty, businesses will often try to cut what they consider unnecessary costs.
And bizarrely marketing is often considered something that is a nice thing to do, rather than what it actually is – an essential thing to do.
You will never grow a business, by cutting back on the thing that actually brings in more customers
So in terms of marketing – expand your marketing budget, do more of the things that work and expand your customer base.
Be proactive and expand your business ahead of any post-brexit impact rather than waiting for the impact to hit and being reactive.
2. Save Some Cash Reserves
Whilst I mentioned before that Altrincham HQ was established and grew during the recession – my events business only survived during the last recession due to cash reserves
Like many events companies in Manchester monthly revenue reduced significantly – to just 20% of what it was pre-recession – and it was only cash reserves that allowed us to ride through the recession
Many other business closed down during this time and we actually managed to then double our income post recession
If you are making huge profits now – save a little away to help you ride more austere times
Being in a strong financial position also allows you to make the right decisions in terms of client acquisition – you should be in the position where you take on clients because they’re the right fit for your brand, rather than because you need to take them on
3. Avoid Buying Solely On Price
If 1 and 2 have been spend and save
Then number 3 is spending the right way
Buy cheap and buy twice is something i’ve always lived by
It may seem wise to top up those cash reserves by shaving money off services – going for the option £50 cheaper than the other service provider
But always make sure you’re comparing like for like – it’s easier with the same products, but service providers are very rarely like for like. There’s experience, results and customer service to consider and it may cost you more in the long run if you cut corners
4. Up Your Ambition, Don’t Lower your Goals
Grant Cardone often talks about goal setting and 10x everything you do
Average businesses set average goals and get average results
Whereas
Successful businesses set massive goals and get massive results
So when it comes to goals, think about what it will attract and what results you can expect
If you lower your goals (even if just mentally and unsaid rather than written down) because of what you assume or read in the media you will get what you expect
5. Don’t Talk Ourselves Into A Recession
Ultimately all of the above is about a mindset – living by a positive or negative one
It’s often said that the last recession came because the media talked up the recession and then so did the rest of the country
It’s worth remembering again what we said at the beginning of this blog – we started in the recession and went on to massive success. Many of those friends that are part of my local network did exactly the same. There are bars, shops and retailers that rode the last recession extremely well and are now the success stories new businesses look up to
So for every story we’re reading now about multi million pound deals falling through post brexit – there are success stories we can shout about, amplify and hero
Next time you go on to social media – retweet a positive local business story.
Let’s creative that positive narrative and let’s talk and action our way to success rather than being a Debbie Downer
CHAT TO US
Chat to about Social Media for YOUR business so we can better understand YOU and what will grow your business
We can only find out what is unique to your business by chatting to you
Please call Alex on 07806774279 or email alex@altrinchamhq.co.uk

Alex McCann is owner of Altrincham HQ – a social media management and training company based in Altrincham, Cheshire that has worked with 100s of local business developing their social media strategy. Alex has 400+ LinkedIn testimonials and is ranked number 1 for Social Media Marketing in the UK via independent customer reviews on Freeindex.
Archives
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
Leave a Reply