‘Uncertainty’, is a word we have heard a lot in the last year, concern, cuts, recession, payback and more enter the fray on a regular basis too, with media headlines screaming doom and gloom for UK manufacturing.
But what if Brexit is an opportunity, not a threat?
If you’re running a manufacturing business, you have two choices right now: sit back and wait to see what impact Brexit will have, or act now to future-proof your operations. Two years is a long time in business, and it is a great opportunity to reassess your business plan and start to build the most profitable and resilient business model.
Is the biggest threat to your business actually inside your business?
Almost without exception, every business owner I work with hasn’t looked inwardly at their business for way too long. As long as there is some profit, contracts are coming in, and wages are paid, it is too easy to get tied up in what happens next. However, when we take a closer look, there are profit drains and vulnerabilities that have become accepted as the norm.
In other words, most businesses are losing money, time and opportunities every day
You need to know the true costs of your manufacturing performance to be able to make any decisions about the future. What are your overhead costs? Are you losing money on some of your operations? What are your weaknesses and threats?
For instance, you may be concerned about Brexit driving up staff costs. I can say without exception, that this perceived impact is shadowed by the profit most businesses are unknowingly and unnecessarily losing every day. The positive shift in productivity and profitability that can be made simply by taking a forensic approach to current operations is astonishing and I have numerous case studies to prove the point.
In a series of articles, I will be exploring the issues key to UK manufacturing businesses, the actions that can transform a business, and how to access funding for manufacturing growth support.
If you would like more information support with any of these issues now, or how to apply for funding for the government’s Manufacturing Growth Programme, please call me direct on 01206 523394, or email firstname.lastname@example.org for a free consultation
Here’s what coming up in future articles….
- Do you know where your profit is coming from? Know your true costs and identify the black holes that are losing you money
- Beware of bespoke manufacturing contracts and understanding how economy of scale can transform your business
- Brexit – so what? How to be Brexit ready and create opportunities
- Perfecting process, streamlining delivery and fulfilling capacity
- Too many products? Are you afraid to look at what’s really losing you money?