What One Thing can Make a Big Difference to Business Success?

Talking Point feature - What one thing can make a big difference to business success? Local business leaders pick out one secret ingredient that can make a massive impact on the way a business is run and how successful it becomes. This could be a culture change, reorganisation, diversification, logistics, marketing....
 
In my view, there is no such “one thing” silver bullet that leads to business success.  Different things are vital at different times. At one time, bold leadership and rapid change may be vital, at others - perhaps now in many cases - concentrated management, attention to detail, consolidation and survival are the order of the day. Some businesses may flourish in these times but a large number are hanging in there until their business sector recovers. In these circumstances the “one thing” that could be the difference between failure and success, in the form of survival, is cash flow. Cash really is king, and its importance will also remain so as increased working capital is required when expansion restarts.
 
Christopher Butterworth
Managing Partner
Raworths LLP, Solicitors, Harrogate