While channel surfing recently, I came across a classic episode of Dad’s Army where Captain Mainwaring led his team into yet another predicament, prompting Private Frazer to ominously announce: “We’re doomed. Doomed, I tell you.”

This humorous moment took on a different tone as I reflected on the latest concerns voiced by leading UK retailers. Over 70 prominent companies, including Asda, Marks & Spencer, and Tesco, recently communicated to Chancellor Rachel Reeves their apprehensions regarding the negative consequences of increased national insurance and minimum wage on their profitability and pricing structures. The retailers forecast a staggering £7 billion annual rise in operational costs.

While I share objections to the adjustments made in Labour’s budget, my perspective diverges. We are not doomed; instead, we find ourselves in a challenging situation that requires a proactive approach to navigate.

The prevailing sentiment in British business, particularly as depicted in media outlets, resembles a repetitive cycle of crises—banking issues, Brexit, Covid-19, rising living costs, and now a budget that appears hostile to business. However, since the government is steadfast, we must curb our complaints and take decisive action.

To convert challenges into opportunities, resilient leadership is imperative—and we certainly have such leaders. Those who signed the letter to the Chancellor are equipped with significant skills, determination, and vision. Therefore, my initial piece of advice: it’s time to project a can-do attitude across the nation.

Throughout my career, I have faced external challenges that threatened business growth, reinforcing my belief that every problem holds the potential for a greater opportunity. It may not be immediately visible, but it exists.

A former CEO at HomeServe used to say, “Let’s not waste a good crisis.” During the drought of 1997, this sentiment came to life when John Prescott mandated that water companies offer a complimentary repair service for underground pipes. Initially, I feared this would spell disaster for HomeServe; why would anyone purchase our insurance under such circumstances?

Through discussions with my team and business partners, we found a new direction. We created enhanced coverage that would restore lawns or flowerbeds damaged during pipe repairs, along with any internal pipeline work needed. Within weeks, we communicated these updates to our customers, resulting in one of the swiftest growth periods in customer sign-ups.

Successfully navigating crises, mitigating damage, striving for recovery, and fostering resilience all demand effective leadership. Additionally, my second piece of advice: seek diverse perspectives to uncover innovative solutions and avoid the pitfalls of entrenched thinking.

Adaptability among leaders at all levels is essential; being responsive to evolving situations allows for a faster pivot in strategy. Engaging with a broader array of viewpoints will facilitate priority shifts and help carve out new directions. Active listening is crucial to incorporate team member insights into your decision-making process.

Furthermore, conduct thorough grassroots research among customers, suppliers, and your network. Understand your cash flow, assess transforming consumer behaviors, and identify how your offerings can evolve to meet these needs. The plan that emerges doesn’t require unanimous agreement; provide clear execution strategies and win support from your closest collaborators while keeping it aligned with existing operations. Focus on evolution, not revolution.

Set a firm timeline for this strategic realignment. In 1997, we accomplished our reassessment in two weeks; today, I would aim for completion by January 1. With only five Sundays left until 2025 after this weekend, while others concentrate on the holiday season, you should create a dedicated team focused solely on maneuvering through this adversity.

It’s vital to ensure that teams are unified in their approach. A strong organizational culture will motivate staff and foster open dialogue naturally.

Next, prepare for the difficult decisions that may impact your workforce. Many companies are contemplating layoffs to mitigate potential profit drops, and financial constraints may limit growth investment. This could be the optimal moment to integrate AI technologies. Most importantly, make prompt and decisive choices. It’s often easier to part ways with individuals lacking the right attitude than those committed to the organization, but with appropriate support, they will discover new avenues elsewhere.

Ultimately, my counsel is to focus less on external challenges. A situation only becomes a crisis if allowed to do so. By making decisions grounded in confidence and enthusiasm instead of fear, you can emerge from difficult circumstances significantly stronger.

In business, the only certainty is facing external issues perpetually lurking around the corner. The crucial aspect is to prevent these from derailing your growth ambitions. Confront the challenges head-on and let competitors dwell on their doomsday narratives.

Richard Harpin is the founder and chairman of HomeServe, a growth partner, and an owner of Business Leader.