What business lessons can be learned from Brexit?

What business lessons can be learned from Brexit?

The UK’s vote to leave the European Union in June 2016 came as a surprise to many people in the UK and across the globe. The day before the referendum, London bookmakers had given the Remain side of the argument an 80 per cent chance of victory, with polls suggesting it had a 10-point lead over the Leave campaign. So when the results finally came through and it emerged that Leave had won by 51.9 per cent to 48.1 per cent, shock waves rippled through the political world.

The fallout of the vote still dominates British politics, and it’s having a huge impact on businesses too. From the drop in the value of the pound to uncertainties over potential rule changes and international trading relations, companies now have to negotiate a more complex and confusing environment. So what lessons can businesses learn from this landmark vote? In a recent blog post, field marketing and fundraising specialist Appco UK put this topic in the spotlight, examining some of the pointers companies can take from Brexit that may help them to be more successful in the future.

Thorough planning is essential

According to Appco, perhaps the most obvious lesson that people can take from the vote is to “look before you leap”. It noted that it appears as though many on the Leave side of the argument hadn’t properly considered and didn’t thoroughly understand the reality of what exiting the EU would mean before the referendum took place.

Appco urged businesses not to fall into the same “poor-planning trap”. Referring to marketing and brand awareness strategies, it said that while it’s important to be flexible and creative in order to respond to changing trends and customer demands, it’s essential for companies to keep their end goals firmly in mind and to ensure they have a plan that focuses on exactly how to achieve these aims.

It’s vital to have experts on your side

Appco Group also suggested that Brexit highlights the importance of putting together a team of knowledgeable experts who have a clear understanding of what they want to achieve, and who are working with a common sense of purpose. This, the organisation suggested, is something that has been missing in relation to Brexit.

Appco went on to state that putting a strong team in place to deliver specific objectives is something that businesses should do “well before” they attempt to realise their plans.





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