Renovation and Renewal

Renovation and renewal to us as a business usually involves reupholstery and furniture renovation and renewal, but at this time of year, it also means the business as a whole.

The end of August is an interesting point in the year. Although we are only 3/4 of the way through, in many ways it is the end of one period and start of the next. We all need a refresh from time to time, like this office seat we once received.

A lot of what we do in the year is in place by the end of August. The dies is cast and the hay is in the barn. The amount we can influence now is lower because of timescales and lead times, so it is now that thoughts turn to the next year.

It is also time to prepare budgets as well for 2018 so we need to update our strategy, review where we are and how we’ve performed. It’s an interesting time because we won’t really know until the end of the year. We’re making decisions base on partial information.

The other side, which I am constantly reminded of by my team, is that we have to remember to enjoy the achievements and celebrate them. The danger is that we start to focus on the next thing and our achievements pass us by.

Of course the truth is that both scenarios are necessary. It is the classic Eli Goldratt – Short Term versus Long Term conflict. We need to look forward with our plans, strategies and tactics while relishing the current achievements at the same time.

But plan we must. We have multiple conflicts to resolve. How do we grow our capacity when the skills aren’t available? How do we retain and reward the staff that we currently have? How do we grow our sales? What do we need in terms of new premises now that we are starting to outgrow the current ones? What new machinery do we need and what do we need to replace? How do we make sure our business is resilient to fluctuations? What new products do we need to develop? Is our supply chain sufficient, the right one, effective?

Obviously, the answer to these questions is always in flux. What is right today might not be right tomorrow. To coin a phrase:

Hopefully, everyone reading this post is looking forward to 2018 with positivity and optimism. If you aren’t, then perhaps you should look at The Obstacle is the Way as described in this post!

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