Chat from the Chair – Calculated Risk
When you have a winning formula, when you are known for something, there can be a tendency to stick with the status quo. After all, it got you this far. But what if it could be even better? How would you know without testing something out?
Trying Something New at Coffee Morning – Here’s What We Learned
Stowmarket Chamber of Commerce is a great place to network, to connect and build relationships. Our breakfast and coffee meetings have a good reputation and work well. So why change them? Well, we tried something new at our July coffee meeting, all driven by our aim of trying to provide more benefits for members.
Every 20 minutes, we rang a bell, gave a couple of members present a chance for an elevator pitch and then encouraged everyone to find new people to talk to. Members loved the new format as they gained more benefits from being a member, and visitors loved it too, as we made it easier to join and move on to new networking chats.
We ran this as a trial. We didn’t know if it would work, but since we had a bigger reason to change (benefits for members) than not to change, it was worth the trial. Even if the trial doesn’t work out, it’s still valuable because it teaches you something.
Listening, Adapting and Growing
It is so easy in our businesses to stick to what we have done. One of the challenges, though, in doing what we have always done is that we stand still, whilst everyone else moves forward. So, how do we take calculated risks to see if something is worth changing?
- What is your driver at this time? (ours was a benefit for members)
- What is the feedback from your customers? (ours was that we would love more benefits for being a member)
- What could a trial look like?
- What can I learn from others that might be useful?
- What does your customer feedback say? (Ours said we loved the benefit to members, and we loved the increased networking)
- What are the next steps, and how can I scale it?
Maybe, like me in my business, you are noticing a shift in customer demographics or a drying up of your typical customer base, and so change needs to be considered. Working in partnership with business advisers and colleagues can be important to consider things carefully, and taking time to think through calculated risk is important here. It can be a challenge, but it can also be a time when something even better can come. Enjoy the calculated risk.
For the Future
Chairman Colin Tapscott is always happy to receive any suggestions for what members want to see the Chamber doing in the future. Please send your ideas (and your wish lists) to [email protected]
Dates for your diary:
Please check the website in case of any last-minute changes.
| Coffee Morning | Chamber Breakfast |
| Bishop & Miller – Suffolk Uni 19, Charles Industrial Estate Stowmarket, IP14 5AH |
The Mix Stowmarket 127 Ipswich Street Stowmarket IP14 1BB |
| Friday, 5 September 2025 | Friday, 15 August 2025 |
| 10.00 am to 12.30 pm | 7.15 am to 9.00 am |
For more information, contact Keely Taylor by email: [email protected].
