“A bend in the road is not the end of the road…Unless you fail to make the turn.”
― Helen Keller
Brexit has brought uncertainty to the immediate horizon, although some commentators predict that the upheaval may also bring opportunities. Both are true, nevertheless businesses must have a good Plan B in place in terms of risk assessment.
Probably the simplest route is to sketch out the big picture and link it to predicted trends by observing the general movement of market forces. This may help to predict what the best and worst case scenarios could be.
In an ideal world you would want the risks to be known to you to prepare and plan ahead for whatever it is that may occur, by making good and logical decisions whilst using past statistics and knowledge. However, if the risks are uncertain, which they appear to be, you may need to add a little bit of intuition to the above.
Is there a simple solution to this complex problem?
Possibly the most effective way in dealing with the disadvantages of Brexit is to think about the opportunity to satisfy the pre-Brexit business model and then draw up a business plan setting out how the business will achieve its profit forecast. This will have to involve considering a number of stress factors such as (a) customer demand (b) division of a profit formula (c) costs of materials and labour and (d) identification of key resources.
In summary, an initially conceived business strategy plan is not eternal and must be flexible to market changes which will undoubtedly be brought on by Brexit. However sight should not be lost at the strategic principals of the business.
“Il n’est pas certain que tout soit incertain. (Translation: It is not certain that everything is uncertain.)”
― Blaise Pascal, Pascal’s Pensees