For better or worse every successful business leader has made decisions based on gut instinct. Most company founders in the North East of Scotland have an anecdote about the time it went sour. At business functions, we’ve all heard leaders express their pride at turning around a seemingly lost cause.
Well, hasn’t 2015 taught us a lesson in the value of stability. We appreciate success a little bit more and cringe at the thought of making a snap decision. But, pioneering moments have never come from cowering in the shadows. The best business professionals see that taking their business to the next level in a very different market requires courage.
Over the last 12 months the tolerances of businesses have been tested. Reviews of activity have delved deeper than they have for a long time. Every cost has been analysed. With a mind tuned to leaner times it has become obvious which expenses are surplus. With other expenses, decisions have been tougher: rejecting business with a limited return, administration and of course people costs; the everyday lives changed.
Some of the faces at the forefront of Aberdeen business have changed, people have progressed up the career ladder faster than would have otherwise been the case and others have grasped new opportunities and are building their own businesses.
Attitudes have adapted. People are more open with customers and are developing projects with those previously considered to be rivals. Individuals now know their strengths better and recognise the need to improve on their weaknesses.
With 2016 on the horizon, some are sceptical and remain negative. However, time marches on and it is coming if we like it or not. Like the day after a marriage, there will not be a dramatic shift. But, yes, there is that excitement of seeking new opportunities together – many arrive unexpectedly and it is time for an open mind.
In planning for the coming months, weaknesses should be looked at as opportunities to improve and build new relationships. Strengths are a chance to say “I like this and I’m good at this, can I do more of this?” Staff appreciate benchmarks for performance, so set boundaries for yourself and peers and keep them under review.
It comes back to the gut; take short term pain, including financial, for longer term gain. Follow your business career dream, whether that is making it up the chain of a larger firm or building an SME from the foundations up. 2016 will be about realistic expectations of others.
There are plenty of Scottish institutions for additional learning support and many organisations for short or long term business growth ideas and backing. Find them, use them and make business right again.
Jennifer Young is the chairwoman of Ledingham Chalmers.