VIDEO – Where will recovery come from for your business: consumer behaviour, innovation and skills

Tacis shares his views on three key areas to consider when it comes to your business recovery and growth as we return to work and look to the future.

Video Transcripts

I’m Tacis Gavoyannis with Boardroom Advisors and wanted to share with you some thoughts on heading back to work; which may be another three or four weeks now we don’t know but it’s slowly gonna be happening.

And looking at the previous recessions I think the recovery came out of consumers, how consumers moved quite quickly in some sectors and slowly in others did affect them for the recovery. 

So it’s quite important to also look at the consumer behaviors, so at the moment you’ve got your own clients there will be change across their needs, there will be change across the supply chains and they probably be change across their supply chain so be an impact across the board. So look very carefully of those behaviors know, what they say but what they actually do and how they spend their money and how they move to the opportunities that they see themselves having to grab. 

The second area that’s quite important is the finances, so I think it’s important to make sure you’ve got the cash flow you need to survive first government money there’s innovation money, I come back to that point in a minute. Thirdly is the the skills I think a lot of the teams have worked digitally and from home primarily, so the culture and the process are quite important now because he can still carry on building quite a big strong culture one that innovates quickly, innovates fairly quickly in terms of coming up with new ideas and disruption but also keeps the process as though you were still in the office so that’s going important but there will be some changes on that.

So coming back to innovation which is something we Boardroom Advisers do quite extensively in terms of looking at the innovation money whether it’s export money for companies to go abroad, whether there’s innovation money for disruption in UK, within UK and whether there’s new innovation coming out of universities or other hotbeds of creation of new disruption. 

There’s funding from government to do that but I think for quite a few of our scale ups what is important to be thinking is if you’re looking at two to three or 3 to 5 years exit, it’s quite important to have the trajectory of the innovation and disruption that you can create internally in the IP from that. And also perhaps to our possessions from disruption that’s coming externally. And we can help with some of the funding of the specific areas of that funding, that we’re working closely with. A lot comes from UK arrived the research innovation area for UK and there are other parts of North Europe that also create funding that could be appropriate. 

So there’s quite a lot of help of scale ups if you’re thinking about exit or if you’re thinking about three to five year time frame we can help with quite a lot of that in terms of the clients, you need the strategy, you need to have the finances in place, the innovation and the funding that comes with out to help you.

So do reach out and contact us we can help on a part-time basis, quick and easy to get in as you need it and help is not very far so do reach out and connect with us. Thank you

Written by: John Courtney

John is highly ranked in the Top 100 UK Entrepreneurs list by City AM and is winner of the Lifetime Achievement Award from techSPARK. He has been a Board Director himself for over 40 years and first started placing Non-Executive Directors over 25 years ago. John founded and ran six of his own businesses including a Management Consultancy for 10 years, a Corporate Finance offering for 10 years and a mid-sized Digital Agency for another 10 years.