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| Budget Blues | |
| 23 April 2009 You may have caught the news yesterday that the UK is in a bit of a pickle. I know, I know, I was as surprised as you are. The Budget was always going to be a pretty torrid and depressing affair and I'm sure the charisma dynamo that is Alistair Darling was dreading giving that speech - I know how he feels, I've got to give one at the Industry Awards in a couple of weeks. Actually, that's not the same thing at all is it? Sorry, it's just on my mind... Anyway, while some of the numbers were higher (or lower) than expected, there weren't any huge surprises. In fact I was more shocked when Bruce Grobbelaar left Hell's Kitchen, who saw that coming? To me, the Budget message was plain and simple - 'this is how it is, get on with it.' So here's the question of the day - has the recession made you look at your business with new eyes? Has the new market made you see the ineffiencies within your operation? In other words, have you done your own Budget? Have you sat down and looked at your own business and worked out where you can save money and, more importantly, where you should be spending it? I can't tell you the number of retailers I've visited who have a shiny Merc on the forecourt but say a website is too expensive. So where should your cash be going? Young professionals don't have any money at the moment, but the over 50s do - who are you aiming at? The special needs, or inclusive design, market is booming too - are you still chasing the mythical loft apartment? And, for retailers, you've never had to advertise or do any real marketing because you've had so many recommendations - not any more, so what are you going to do about it? And how much of your business is in your head? All the pricing, the contacts, the customer knowledge, the marketing plan, the customer service policy - is it basically all you? Because if it is your business is worth nothing, and if you were hit by a bus tomorrow it would close the day after as all that's left is a shop full of stuff. More realistically, the chances of selling your business are virtually non-existent. The Budget has truly confirmed what we already really knew - that the boom time is over and everything starts again from scratch, so what are you going to do? Let me know how you're changing to adapt, actual practical measures you're taking to restructure, rejig or retrain your business for the climate. Anything from getting on your bike and doing your own leaflet drop to switching from kitchens to bathrooms or vice versa, I want to hear it. I'm sure that if everyone shares some initiatives it can only help the industry as a whole. Andrew Davies, editor, kbbreviewWhat do you think? Email Andrew direct | |






