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Posts Tagged ‘finance’

on back to normal


We are living in strange times, certainly here in the UK, but also in many other countries and we are all looking forward to an end to the restrictions that have become our current norm. But will we go back to what we had before?

Certainly there seems to be a political desire for us to get “back to normal”, and I can understand a desire at that level to try to be reassuring, but I am not sure that we will ever get back to where we were in, say, February 2020.

Change is inevitable and you can never really go back. I can remember my parents and others of their generation talking about how different things were before and after WW2 although I could not image it myself. Now as I approach my eighth decade I can look back and see change fairly clearly; it is not that long ago, for me, that as a salesman out on the road I carried a bag off coins so that I could call the office from a telephone box. I can also remember programming mini computers to run programmes through 1k of memory. The last sentence would probably take up 1k in a word processing programme of today and my mobile ‘phone has more processing power than we could have dreamt of back then.

But even the more dramatic changes that I have lived through pale in terms of what we have seen in the last three months and I cannot believe that whatever we get next will be less than a quantum change. Businesses are going to fail, especially in retail and hospitality, and the knock on effect through distribution to production will ripple across. All of this will affect the way that money flows through the economy and whilst we have been through recession a few times in my life I feel that this is going to be different.

Shopping patterns have changed, attitudes have changed and all of what the last few months have brought is going to make it a different world. I have no doubt that the economists are doing their best to predict the future, but I have. no idea what awaits us once Covid-19 fades from our priorities (assuming that it does).

This is not meant to be a doom and gloom post, far from it. We will come out on the other side and make the best of what we have; we always do. Change brings a level of excitement, it brings out the competitive urge and opens doors for those brave enough to walk through them. There is much that I do not like about 2020 so far, but it is what it is and I can’t change it. I can just look forward to doing my best with whatever hand I get dealt. If we all do the same we will be fine.

on mistakes being where you learn


Although I don’t do much in the small business sector I do still keep in touch if for no other reason than that I am a small business and one of the topics that often comes up is the problems that small businesses face in not getting paid, either on time or at all. It is a perennial problem, so I’ll share here one of the times that I allowed myself to get screwed. Read more…

on cutting cost being easy; you just have to spend a little


 

One of the things that leaders need to do is to make space for their followers so that they can do their jobs. Keeping the flies away as one of my early mentors used to put it, although his choice of words was a little more colourful. Read more…

the importance of understanding money


I wrote in one of my books about probably the best piece of business advice that I ever had came not in a work context, but from the father of a young lady who I was about to take out on a date. Read more…