News, Views, and Random Thoughts
04/07/16

It’s not yet two weeks since a small majority voted for Britain to leave the European Union.

In all of the political chaos that’s followed, Mark Carney the Governor of the Bank of England has been a rare stabilising voice. Within hours of the result the Pound went into freefall and banking shares dropped alarmingly. Mr. Carney stepped in to calmly reassure financial markets that Britain’s currency and its banks were still in a strong position. Any emerging risk would, he added, be mitigated by the central bank. Within a week of the Brexit vote the markets looked stable and the currency freefall had been arrested.

For millions of businesses facing the uncertainty of the Brexit vote, a clear well communicated message has perhaps never been more important. You’ll want to come across more like Mark Carney and less like the spokesman for a major London property agency who told the Evening Standard:

“The whole thing is a disaster. The uncertainty will cause markets to crumble and who knows when that’s going to get better? There’s no end to how far prices could fall. If you are a vendor you’re going to have to sell at a much lower level.”

To me that just communicates blind panic. The message to buyers is, if you buy in London now, you are likely to lose a lot of money. The message to vendors is, don’t bother putting your property on the market as you won’t get the price you want. Both positions are enormously damaging to the spokesperson’s business which relies on buyer confidence and a good supply of properties to sell.

This was a missed opportunity to show the company was prepared for the consequences of Brexit and that even amid the uncertainty there were still opportunities. They could have communicated a calm, professional response and a message that would bolster their business rather than damage it further. Something like this would have been so much better.

The Brexit vote wasn’t expected but London will remain one of the world’s great cities even outside of the EU. The drop in the value of Sterling means London properties are now cheaper for foreign investors so we expect that sector to continue to thrive. Vendors may have to revise down their expectations a little but with the right property and right buyer there are still great deals to be made for both parties.

None of us really knows where the Brexit vote will end as it’s apparent that the political class has no plan. But as the process of leaving the EU moves forward a clear message that supports your business will be critical. And as Brexit takes shape it’s likely you will have to revise that message to keep up with the emerging realities of life outside the EU.

Our media trainers can help you develop your message and coach you to deliver it confidently in all sections of traditional and social media.
Simon