I'm Fed up with Hearing Bad News!
Article posted on 25th January 2009
Do you know what? I'm fed up with only hearing bad news - I think I've become allergic to it!
Is it me or is the media now revelling in it? Why else would the fact that Tesco's Christmas period sales were 2.5% up on last year be headlined as:
"Tesco's suffers worst Christmas growth in five years"?
Why else why else would any movement in the exchange rate be reported as bad news? - thrown into stark relief with the big movement in rate over just a few months: a few months ago the pound was at two dollars now it's around 1.40 but in both cases the media reported this is bad news:
"Britain's exports hit by strong pound"
and then:
"Weak pound makes holidays more expensive".
The truth is that with the pound where it is now against the dollar the UK has significant opportunities to export - which has always been a strength. That sounds like good news to me!
In the last couple of months I've worked with a training company, a steel stockholder and an IT company - who are all doing very nicely thank you. I've worked with a recruitment company whose business is good and who, in just the few weeks since I last saw them has developed, tested and put on the market an entirely new product in a new sector.
I have run workshops with the Chief Executives of businesses including recruitment, pharmaceutical, security, fine art , accounting, software, food manufacture and cleaning - all of which told me they have, as of now, not yet suffered any effects of the economic downturn. My brother's company runs conferences on new technologies and is as buoyant as it's ever been.
I'm a director of the chemicals group and also of an instrumentation company and they are both doing well. I've read about a manufacturer of windows and doors who can't get enough staff to cope with demand and Premier Travel Inns is reporting that it is humming at present and simply can't build enough hotels to meet demand.
The highest graduate starting salaries being paid in the UK now are not in the City but by Aldi who have an ambitious new store opening programme.
I have recently met with Managers of two banks - Clydesdale and Standard - neither of which have any exposure to sub prime loans and are both buoyant and confident.
Now it just maybe that I've only met with or heard about the better companies or maybe they are all late cycle - but I don't think so.
Good news is seen as bad copy.
I remain firmly of the view that it is the companies that are on top of their game, who carefully plan their strategy, who are proactive in the market and who are fleet of foot will do very well throughout the next year or two.
- and if you need a bank (but try not to!) then talk to the ones who didn't let us and the world down like Clydesdale (and their parent National Australia Bank) and Standard - they deserve our business.
Since my last newsletter I've had the honour and privilege to take over as President of the wonderful Professional Speakers Association and my theme for the year is "Astronomical Aspirations"
I am a firm believer that you should always shoot for the stars and set aspirations and targets that are out of reach - because, frankly, you'll never achieve them unless you do and it's amazing how often we do achieve the impossible!
Many might say that this is surely not the time to do it - isn't now the time to hunker down and just "survive"?
No - I really don't believe it is - as I've said earlier in this piece it will be the businesses with ambition and exhibiting a high quality of strategic thinking and flexibility who will win through.
Over the next few weeks I'm going to be spending time in the Middle East, Italy, Poland, Pakistan and India and I'm fascinated to see how the world and it's economies look from their perspectives.
I'll keep you posted.
