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Q&A

JLA: Do you see recession curbing entrepreneurialism?

JF: In some cases, but redundancy will also breed entrepreneurs because many won't be able to or won't want to find a way back into steady 9-5 employment. For them the first question should always be 'do I want and need this product or service?' If so, chances are there are lots of others out there who would agree.


JLA: Presumably there will be winners and losers amongst consumer brands?

JF: Yes. Green & Black's is the perfect example of a 'good times brand' which also works as an affordable indulgence. You may not be able to afford a Bentley or a Louis Vuitton handbag, but we all need small and frequent fillips. This is one reason why lipstick sales rise in recession; you don't buy the jacket, you buy the lipstick.


JLA: How would you characterise the trend?

JF: Consumers will look carefully and buy fewer, better items. Part of me thinks the downturn is part of a big 'Gaian' correction, with the planet doing its bit to reduce consumption and thereby pressure on resources. However I still worry about the 'looking after No.1' attitude. We don't just need a microscope to analyse current events, we need a telescope to keep an eye on the future.


JLA: What advice do you have for SMEs?

JF: SMEs are nimbler on their feet than multinationals, and better able to respond to market conditions in ways other than price-cutting - which is all the big guys are really able to do. It's all about spotting opportunities and acting swiftly, tuning into your instincts.


JLA: How do you deal with the sceptics and defeatists?

JF: I am a great believer in abundance thinking to defeat scepticism and defeatism. If we are paralysed by fear everything really WILL come to a standstill (fuelled by media enthusiasm) - and then there's a risk that total financial collapse becomes a self-fulfilling prophecy.


JLA: Is discounting the answer in the short term?

JF: I don't think so. In a recession it's not all about price - it's also about value. It's not difficult to see that a £10 item of clothing worn a few times is far worse value than a £100 one worn 300 times. Similarly whilst people eat out less often, many will buy a better loaf and a nicer cut of meat to eat at home.


JLA: Is recession good or bad for the fight against climate change?

JF: We have to be flexible about our short-term goals, but not lose sight of the long view that demands a more responsible, sustainable way of doing business. There's a risk that we spend so much time focusing on the urgent that we don't deal with the important. We have a planet to save!