Welcome to my column, as we have built a really solid team at Cheeky Panda it allows me to pick up on writing for Elite business again. In my columns I aim to share insights and analysis into todays dynamic environment and actionable growth hacks that you can use in your companies and careers.
Analysis of markets
Over the past 6 months there has been a lot of press negativity around both the British economy and overall prospects for 2025. In my almost 30 years in business I’ve been here before, my first experience of a downturn was the dot com crash in 2000, then credit crunch in 2008-9 and market turmoil through Brexit and Pandemic in 2020.
I’m not a fan of finger pointing I find the whole thing counter productive. Equally I’m not a fan of sitting on my hands doing nothing and waiting to see what happens. In economic markets we have bull and bear markets, the good times and the bad. The market and the economy is a wheel and in order for us to have a Spring sometimes we need to have a Winter.
Find the white space
If your product does exactly the same as everyone else unless you are the market leader you will struggle to maintain growth in tougher conditions. What you need to do is offer something slightly different or have a proposition that makes it easier to choose you over a competitor.
In 2000 a lot of my work was in financial markets and technology and when that dried up I switched to working with outsourcers that had long term fixed contracts so very much recession proof deals.
In 2008 I was in both USA and UK capital markets and when that crashed I switched to working in Switzerland and Asia that were still in growth mode. In 2020 during the Pandemic we lost 80% of our B2B business due to work from home but our Ecommerce business grew by 200%.
Those that can’t adapt to changing environments or business model isn’t sustainable will struggle. As Warren Buffet says “Only when the tide goes out do you discover who’s been swimming naked”. In my view being able to be agile and diversify makes you stronger.
Commercial propositions
Here’s the good news that doesn’t need to say you need to be cheaper you just need to offer more value. As an example if you truly believe in the value and the services you offer, why not underwrite it. This means you need to have solid clients that won’t use loopholes so as long as you know and trust a client or brand you can offer guarantees for delivery.
At Cheeky Panda we believe in our products so we will offer free trials. When I used to work in management consultancy sometime they would look at the value a project would deliver for a client scope that out then do an investment vs cost analysis that shows over 3 years it delivers payback.
I was once challenged on being the most well paid headhunter for a client and my counter point to my client was while this may have cost you £500k in fees if you did the same acquisition via M&A it would be 10-20x the price so in real terms I’m very cheap.
Use the time to plan
Slow growth is also the best time to attract talent. Don’t be afraid to invest into the curve if you have the capital. In strong markets talent is hard to find and you pay a premium in slower markets you can get great people at reasonable prices, they will show loyalty and long term if you get the right people this will deliver great returns.
Build strategic partnerships
Growth doesn’t happen in isolation. Partnering with retailers, investors, and other stakeholders has been instrumental in our journey. In the UK, collaborations with major retailers gave us shelf space and credibility. In the USA, we’re adopting a similar approach, working closely with partners who share our commitment to sustainability.
Stay true, stay bold
As businesses grow, the temptation to dilute your values can creep in. Perhaps the most important lesson we’ve learned is to stay true to who we are. Sustainability is our North Star, and every decision we make—from sourcing materials to choosing partners—aligns with that principle.
The road ahead
Growth is never a straight line; it’s a series of leaps, pivots, and adjustments. For entrepreneurs on their own growth journeys, my advice is simple: stay grounded in your “why,” deliver services that fit the market need, and never stop learning. The world doesn’t need more products; it needs better ones. With the right approach, growth becomes more than a metric—it becomes a mission.
