Owners should use ‘rule of five’ to ensure recovery

Businesses need to pay heed to the ‘rule of five’ to stand the best chance of bouncing back from the effects of the pandemic, according to experts.

After the most difficult economic year in living memory, three Black Country business experts have joined forces to give their top tips to help businesses come through the other side.

Business coach Andy Hemming, of ActionCOACH Black Country, has teamed up with Higgs & Sons partners, Tim Jones and Paul Hunt, to explain why now more than ever, it’s essential to look at all aspects of a business.

The trio have identified five areas they say are vital to securing the future – mindset, money, people, momentum, leadership.

“It’s been a tough 12 months for many, and as we emerge from lockdown, the reality is it will continue to be challenging for many businesses owners,” said Mr Hemming, who has been consistently ranked in the top five ActionCOACH coaches in the UK since 2014.

“As a business owner, it’s all too easy to be swept up in the day-to-day running of your business. But it’s absolutely essential that people take time to reflect and master all aspects of their business to ensure they’re efficiently equipped for the future.

“Those who do so successfully will be the ones who stand the best chance of not only coming out the other side but coming out stronger than ever before.”

Mr Jones, head of employment at the Brierley Hill law firm, said: “After what has been a monumentally difficult year for most businesses, it’s time to start preparing for the future.

“We have put together this ‘rule of five’ to help business owners focus their thoughts on the key factors of success. It’s easy for business owners to make emotional decisions at times, but they are more likely to follow good logic if they keep the principles of the ‘rule of five’ at the forefront of their minds.

“Hopefully the most difficult days are behind us but there will undoubtedly still be challenges ahead. We hope that this webinar will help.”

The three will be discussing the five points in more detail in two forthcoming Master Your Future webinars.

Tailored specifically to the Black Country business community, the free events will take place via Zoom on March 25 and April 15.

To register, email Clare Griffiths at events@higgsandsons.co.uk or telephone 0345 111 5050.

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