The instant insight Business Optimism survey was launched at the beginning of the month and we have had over 70 businesses participate.
Designed as a barometer of how business leaders are feeling we asked one simple question: ‘Based on the experiences of the last two weeks how optimistic do you feel about the future of the business?’ and asked why they felt that way.
The instant insight survey took less than a minute to complete and we have gathered rich and detailed insights that we are able to share with you today which we hope will benefit you as a leader:
Six out of Ten leaders feel optimistic about the future of their business
57% feel optimistic about the future of their business and 10% do not. One third were unsure how they feel. When looking at the reasons for the ‘optimism’ rating it is not conclusive that optimism is linked to performance.
In a nutshell:
- Optimism does not appear to be linked to what Covid Tier you are located
- Optimism is not linked to the sector that you are in
- Optimism is linked to how you perceive the opportunities in your sector, your
location and not your circumstances
“With disruption comes opportunity.”
“The best opportunities appear in times of stress and upheaval.”
Whilst some businesses are thriving during this time some are seeing the opportunity to work on their businesses, take time to reflect and think about how they can re-engineer their businesses to be ready for the transition to recovery.
For those that are unsure, the reasons are grounding in overwhelming uncertainty and worry for the future “These are difficult times with uncertainty over how covid will develop, potential further lockdowns and economy not growing as predicted.”
Staying focused on what is possible and what you can do appears to be the most common observable conclusion on staying optimistic. Whilst uncertainty remains as we have no idea how long Covid will impact on our ability to recover and what the impact of Brexit will be on the economy the only choice is how to respond. Do you focus on all the problems and barriers or do you look at what and where are the opportunities?
One thing for sure is that mental resilience is vital for leaders but the ability to be optimistic is a chicken and egg situation – what happens first, optimism and then seeing opportunities or your circumstances change and then you feel optimism?
It is clear from the findings that the former is true but we often mistakenly believe our wellbeing is wrapped up in success and not in the enthusiastic quest of new opportunities. Perhaps the only way to survive the pandemic is to explore all the possibilities and what you can do.
We have developed instant insight, a solution to help businesses gather feedback and interpret the results. In response to the pandemic, businesses have used instant insight to ensure team members feel safe at work, keep remote team members feeling engaged and motivated, and keep up with the changing needs of customers.
Find out more about how instant insight can help your business here and if you would like to join the business optimism survey please do let us know and we will continue to share the latest results as they emerge.