The Biba conference has provided ample food for thought
I have returned from our annual conference in Glasgow reinvigorated - which, given the amount of candle burning at both ends that generally goes on at this event, is no mean feat.
I have had my conviction that we as individuals can influence the future reaffirmed, if not strengthened. I have Bob Geldof, one of our keynote speakers, in part to thank for this. Sir Bob gave an energetic (he paced relentlessly on stage for an hour conjuring words out of thin air) and inspirational discourse on triumph over adversity and how if we all work together to share our business experience we can help others. It was stirring stuff.
I’m back in the office. However, my head is still buzzing with my many conversations with members at conference, which is proving something of a distraction.
A couple of members highlighted what they felt was a major issue for our sector where costs are rising and fees and commissions are under attack. They spoke about cost cutting and how an ‘unhealthy’ focus on costs can be to the detriment of a company’s soul. This is a particular challenge for larger companies, but not unheard of in smaller organisations.
We all have to focus on costs and Biba is no exception, but there is a need to recognise when a company becomes soulless. Where the focus on cost cutting is so intense that there is no room for creativity, investment in the future and having a little fun then that point is close. When the accountants’ figures are the only thing that matters and customers do not seem to exist, they are merely just a number, then that point has been surpassed and the brand is damaged.
I’ve always felt that while anyone can cut costs it is much more difficult to manage growth. Retaining customers, cash flow, planning ahead, finding the right people, equipment and facilities are just a few of the issues encountered. Getting growth right can be a real challenge; but also very rewarding. Get it wrong and all too quickly you can see where Sir Bob was coming from when he sang: “It's a rat trap … and we've been caught.”
