"People are unbelievably ingenious at times of stress."

As a serial entrepreneur, Jo Fairley has learnt to expect the unexpected. Co-founding and building Green & Blacks into a multi-million-pound global chocolate brand, Jo has first-hand experience of the often-unpredictable nature of running a business. In this exclusive discussion with BCMS, Jo guides us through the possibilities the current difficulties can bring, and how, with the right mindset, business leaders can reinvigorate their commercial passion.  

The coronavirus crisis is the biggest challenge business owners across the world have faced. The key to overcoming this is to remain positive and take a close look at what needs to happen to keep your business running, something which can often be overlooked. For this, Jo offers a simple reminder; "That racehorse has got to keep thundering."

This can offer many advantages, such as sharpening business skills and identifying possible areas of weakness like unnecessary spending. "When times are good, money trickles out of the door. Now, we are really looking at every cost and really looking at how we can make our business meaner and leaner for the future."

"People are unbelievably ingenious in times of stress, so long as you are in a calm and centred place, which is something business owners really need to focus on. Then you can deal with pretty much anything – and this is pretty much anything"

For Jo, the key advice is to keep things in perspective. "The time when businesspeople want to give up is when they’re running on empty… don’t feel guilty for taking time out for yourself."

To find out more about the impact Coronavirus is having on business sales transactions in your sector, speak to one of our senior advisors. We can offer impartial advice, market insights and practical tips on how to prepare your business for sale when the time is right.