Back to Black - Jo Haigh

Not quite Amy Winehouse but as, at least, some businesses come out of the red high risk zone and start to touch tentatively into the black again, it is worth a look at what this is likely to mean for those companies lucky enough to survive so far.

It is more than likely that the jaded director will almost certainly have come out of this crisis cautious, at best, but certainly more wary than he may have been historically.

One of the exciting things about being an entrepreneur is that desire to go into unchartered waters from time to time in the knowledge that the outcome could frankly be fabulous or, even more frankly, not quite so positive but the thrill is in the ride, at least in part.

The wary attitude that is the legacy left by the economic crisis may possibly stem, to some extent, from the cavalier attitude entrepreneurs had to risk in the good old days!!

Personally I know few entrepreneurs drop their leopard spots for long but I do believe the time spent on making a decision will perhaps be a little more protracted not least in part as funds, unless they have their own, will certainly be a lot less available for quite some time.

I fear also that some novice entrepreneurs may have been lulled into a false sense of security with talks of increasing house prices and positive moves on the Stock Market.

If you regularly read my columns you will know I am an eternal optimist but I do feel I am also realistic and, therefore, even for someone with my natural positive attitude to life I do not believe the economy is stable due, in part, to the fact that I have lived through two previous recessions, albeit not as bad as our current situation and, unlike many new entrepreneurs, I have experienced the turmoil we are currently seeing, at least to some extent.

As a direct correlation to the above, some entrepreneurs have actually personally thrived through the last 18 months.  Okay, so their business may not be perfect but the lessons learnt in 18 months have been more than those taken on board in more normal times and over a far longer period, if, indeed, at all.

This accelerated learning programme, if neither anticipated nor welcomed at first, has meant that the cream has not only risen to the top but are personally tougher and wiser for the experience.  The adrenalin rush may, for some, be petering out leaving a “down” after a fabulous “high”.

It is these people who will see us up the other side of the now famed “W”, but maintaining a personal high needs some further work some won’t be ready for.

My recommendation for said entrepreneur is, if at all possible take a short time out of the business even a long weekend, but preferably longer.  It will fill your energy tank again and leave you much more able to rise to the challenge.

Jo Haigh
Head of Corporate Finance for MGR
www.mgr.co.uk
jo.haigh@mgr.co.uk
0844 826 2851 / 0207 644 9674 / 07850 475878
http://www.linkedin.com/in/johaigh