The Apprentice star Mike Soutar delivered a message of hope as he shared his tips for survival at The Courier Business Conference.
Business leaders and entrepreneurs attended the event, held in association with Henderson Loggie, at Apex City Quay Hotel in Dundee.
The keynote speech was delivered by Mike Soutar, who founded Shortlist magazine after a publishing career which included stints as editor of Smash Hits, FHM and Maxim.
Today he is best known for appearing on BBC’s The Apprentice for more than a decade as one of the people conducting interviews with the candidates.
Mike Soutar message to Courier Business Conference
Addressing the packed room virtually after his plane from London to Dundee was cancelled at the last minute, Mr Soutar said his key message was: “Hard times yield strong businesses”.
He said: “Today we are at the bottom of the cycle, I believe. While things might not improve immediately, they are not going to get worse.
“This is where the fightback starts. I believe recessions are the best time to launch new products, services and businesses.
“Why? Because customers are crying out for innovation and reasons to be cheerful.
“At the same time, competitors aren’t paying attention to what we’re doing because they are too busy firefighting in their own business.”
Tips for survival
Mike Soutar shared a checklist of eight tips for tough times. They are:
- Hard times yield strong businesses
- Before you cut costs, cut staff meetings
- Get cost smart
- Look at familiar challenges in unfamiliar ways
- Figure out if you’re an insurgent or an incumbent
- Innovate, innovate, innovate
- Forge new partnerships
- A rising tide floats all boats
He adds: “If you can establish an enduring business supported by customer needs during a downturn then when the good times come back and consumer spending floods back into the economy you will rise faster than the rest.”
Courier Business Conference agenda
The Courier editor David Clegg welcomed the delegates to the conference, which was held in person for the first time since 2019.
He said: “Every business is facing challenges at the moment. We hope to provide some useful discussion to help our companies through this period.
“I am glad to see so many people here ready to think of ways of solving these problems together.”
The conference was hosted by former Dundee and Angus College principal Grant Ritchie.
It had two panel sessions – one focused on overcoming major business challenges and the other considering workplace issues.
John Reid, previously the factory manager of Michelin in Dundee and now of Wilkie in Kirriemuir, shared lessons learned along with Theresa Slevin, chief executive of Journeycall owner ESP Group and Ross Graham, owner of Graham Pest Control.
Sharing insights in a wide ranging discussion on how to motivate employees were Michael Wells, chief executive of Carnoustie Golf Links, Loganair’s head of HR Lyndsay Kennedy and Claudia Wilson, head of talent acquisition at Waracle.
David Smith, managing partner of Henderson Loggie, said: “The conference touched on the most pressing issues businesses in Courier Country are grappling with right now.
“We had six very different local businesses on the stage, who are facing similar issues. It showed the power of sharing experiences to the benefit of all the people in the room.”
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