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?
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.
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
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
Average businesses set average goals and get average results
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
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
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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 350+ LinkedIn testimonials and is ranked number 1 for Social Media Marketing in the UK via independent customer reviews on Freeindex.