Ian Shepherd
@ianashepherd.bsky.social
Retail & consumer NED and advisor. Views my own. I write regularly at https://movingtribes.substack.com
At least one explanation for this sad news in this post from 2024 which uses Quiz as an example of a business stuck at the wrong size. A retailer can be profitable with 5 stores, profitable at 200 stores but loss making at 40 stores. movingtribes.substack.com/p/scaling-up...
February 6, 2026 at 8:17 AM
At least one explanation for this sad news in this post from 2024 which uses Quiz as an example of a business stuck at the wrong size. A retailer can be profitable with 5 stores, profitable at 200 stores but loss making at 40 stores. movingtribes.substack.com/p/scaling-up...
The formula for success in a retail or hospitality business almost always contains one key ingredient. Winning businesses work hard to make themselves great places to work. It surprises me how many leadership teams fail to understand that.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
People power
What really separates retail winners from the herd
open.substack.com
February 4, 2026 at 10:24 AM
The formula for success in a retail or hospitality business almost always contains one key ingredient. Winning businesses work hard to make themselves great places to work. It surprises me how many leadership teams fail to understand that.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
There is an old Mitchell and Webb sketch with 2 charity executives bitching about how the Guide Dogs get all the cash because they have cute dogs to show. I can't help thinking that the thousands of independent retailers and restaurants getting hit by business rates feel the same about this story.
Pubs given support package after business rates backlash
Treasury Minister Dan Tomlinson says the three-year aid was worth £1,650 for the average pub.
Treasury Minister Dan Tomlinson says the three-year aid was worth £1,650 for the average pub.
January 28, 2026 at 12:50 PM
There is an old Mitchell and Webb sketch with 2 charity executives bitching about how the Guide Dogs get all the cash because they have cute dogs to show. I can't help thinking that the thousands of independent retailers and restaurants getting hit by business rates feel the same about this story.
The opening Moving Tribes post of 2026 explores the world consumer businesses now operate in, and the two macro forces which will shape how the year plays out for them - a long term stagnant economy and the role of technology in how consumers choose brands.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Welcome to the New New Normal
What will 2026 bring?
open.substack.com
January 28, 2026 at 10:37 AM
The opening Moving Tribes post of 2026 explores the world consumer businesses now operate in, and the two macro forces which will shape how the year plays out for them - a long term stagnant economy and the role of technology in how consumers choose brands.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Reposted by Ian Shepherd
It's Davos this week, so please find attached a list of phrases that you may hear and what they actually mean.
Full phrasebook here 😉 www.ft.com/content/ab4f...
Full phrasebook here 😉 www.ft.com/content/ab4f...
January 19, 2026 at 4:12 PM
It's Davos this week, so please find attached a list of phrases that you may hear and what they actually mean.
Full phrasebook here 😉 www.ft.com/content/ab4f...
Full phrasebook here 😉 www.ft.com/content/ab4f...
On the other hand, at least we get to stop talking about the Nobel Peace Prize now.
January 3, 2026 at 9:13 AM
On the other hand, at least we get to stop talking about the Nobel Peace Prize now.
Someone on the tube just asked me for help with an Excel question and I actually knew the answer. I think I've peaked.
December 2, 2025 at 4:37 PM
Someone on the tube just asked me for help with an Excel question and I actually knew the answer. I think I've peaked.
On the eve of the Budget, it is time to stop trying to influence what’s in it, and start considering how we should run our businesses in the economy it will create. Some thoughts in this week’s Moving Tribes.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
The day after tomorrow
Running a business in the post-Budget future
open.substack.com
November 25, 2025 at 12:04 PM
On the eve of the Budget, it is time to stop trying to influence what’s in it, and start considering how we should run our businesses in the economy it will create. Some thoughts in this week’s Moving Tribes.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
With retail footfall stagnant and consumers reeling from a dozen terrifying headlines a day about tax rises, what really needs to happen in the budget to bring growth to the UK?
The answer, surprisingly, is as much about emotional factors as rational ones
open.substack.com/pub/movingtr...
The answer, surprisingly, is as much about emotional factors as rational ones
open.substack.com/pub/movingtr...
Animal spirits
Taking the temperature of the economy
open.substack.com
November 13, 2025 at 1:01 PM
With retail footfall stagnant and consumers reeling from a dozen terrifying headlines a day about tax rises, what really needs to happen in the budget to bring growth to the UK?
The answer, surprisingly, is as much about emotional factors as rational ones
open.substack.com/pub/movingtr...
The answer, surprisingly, is as much about emotional factors as rational ones
open.substack.com/pub/movingtr...
Just spoke to a journalist about the potential impact of the forthcoming budget on retailers and then immediately sent him a funny picture of my cat intended for my kids. #consumateprofessional
November 11, 2025 at 2:13 PM
Just spoke to a journalist about the potential impact of the forthcoming budget on retailers and then immediately sent him a funny picture of my cat intended for my kids. #consumateprofessional
Reposted by Ian Shepherd
Following a heated debate on the Today programme yesterday about the Government's Employment Rights bill, I'm using this week's Moving Tribes to add some much needed facts to the discussion.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
The cost of work
Revisiting Employment Rights
open.substack.com
September 9, 2025 at 10:27 AM
Following a heated debate on the Today programme yesterday about the Government's Employment Rights bill, I'm using this week's Moving Tribes to add some much needed facts to the discussion.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Would you rather be operated on by the surgeon with a high success rate or a low one?
That’s a trick question, of course, because you can’t possibly decide without more information. And it turns out the same thing is often true in business.
open.substack.com/pub/movingtr...
That’s a trick question, of course, because you can’t possibly decide without more information. And it turns out the same thing is often true in business.
open.substack.com/pub/movingtr...
The Falling Knife
Understanding business turnaround
open.substack.com
July 24, 2025 at 11:03 AM
Would you rather be operated on by the surgeon with a high success rate or a low one?
That’s a trick question, of course, because you can’t possibly decide without more information. And it turns out the same thing is often true in business.
open.substack.com/pub/movingtr...
That’s a trick question, of course, because you can’t possibly decide without more information. And it turns out the same thing is often true in business.
open.substack.com/pub/movingtr...
Exploring AI technologies and how they might help your business? Meet the LLM Parrot, who has some important advice to give about the strengths and weaknesses of ChatGPT and other language models as business tools.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
The Well-read Parrot
Why AI can't run your shop (yet)
open.substack.com
July 3, 2025 at 8:52 AM
Exploring AI technologies and how they might help your business? Meet the LLM Parrot, who has some important advice to give about the strengths and weaknesses of ChatGPT and other language models as business tools.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Just how bad do your finances have to be before a CFO who knew they were joining a distressed situation leaves after 8 days?
Dundee University chief finance officer quits after eight days | BBC News
New Dundee University chief finance officer Chris Reilly quits after eight days
The cash-strapped institution is "moving quickly" to find a replacement for Chris Reilly
www.bbc.co.uk
July 2, 2025 at 8:52 PM
Just how bad do your finances have to be before a CFO who knew they were joining a distressed situation leaves after 8 days?
Retail and hospitality businesses have campaigned about the iniquity of the Business Rates regime for years. Does the Government’s new Non-Domestic Rating act solve the problem? Sadly, not quite - my analysis here:
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Rate Relief
What the new Business Rates regime might mean for you
open.substack.com
June 17, 2025 at 11:57 AM
Retail and hospitality businesses have campaigned about the iniquity of the Business Rates regime for years. Does the Government’s new Non-Domestic Rating act solve the problem? Sadly, not quite - my analysis here:
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
A key lesson from the Pandemic years is that businesses can change much faster than they thought they could.
But the fact that you CAN change quickly doesn’t mean you always SHOULD. The nuanced lessons from crisis management explored in this week’s Moving Tribes.
open.substack.com/pub/movingtr...
But the fact that you CAN change quickly doesn’t mean you always SHOULD. The nuanced lessons from crisis management explored in this week’s Moving Tribes.
open.substack.com/pub/movingtr...
Breaking good
What does crisis management teach us about project management?
open.substack.com
May 28, 2025 at 2:19 PM
A key lesson from the Pandemic years is that businesses can change much faster than they thought they could.
But the fact that you CAN change quickly doesn’t mean you always SHOULD. The nuanced lessons from crisis management explored in this week’s Moving Tribes.
open.substack.com/pub/movingtr...
But the fact that you CAN change quickly doesn’t mean you always SHOULD. The nuanced lessons from crisis management explored in this week’s Moving Tribes.
open.substack.com/pub/movingtr...
Astounding amount of coverage today of "things Reform want to do to reduce taxation / increase benefits" but very little coverage of "how they intend to pay for any of that". They really do get an easy ride.
May 27, 2025 at 1:45 PM
Astounding amount of coverage today of "things Reform want to do to reduce taxation / increase benefits" but very little coverage of "how they intend to pay for any of that". They really do get an easy ride.
Nothing more frustrating than the 'we've become rule-takers' shtick from politicians. As a relatively small country that broke away from its major trading partner, we've always been rule-takers - no-one manufacturing anything in the UK would fail to meet EU regs, as they want to export there.
May 19, 2025 at 1:32 PM
Nothing more frustrating than the 'we've become rule-takers' shtick from politicians. As a relatively small country that broke away from its major trading partner, we've always been rule-takers - no-one manufacturing anything in the UK would fail to meet EU regs, as they want to export there.
How vulnerable is your business to the kind of sophisticated cyber attack which has impacted UK retailers in recent weeks? More than you might think. And the weakest link in your defences? You.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Ghosts in the machines
How real cyber attacks work and what you should do about them
open.substack.com
May 7, 2025 at 3:36 PM
How vulnerable is your business to the kind of sophisticated cyber attack which has impacted UK retailers in recent weeks? More than you might think. And the weakest link in your defences? You.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Until recently my all-time favourite Henley Standard headline was "Red Kite ate my sandwich", made funnier by the revelation that the victim actually worked for the newspaper, which conjures up such a clear image about what a slow-news week it was. This week, they are clearly trying to double down!
A man has told how a red kite snatched bread and hummus from his hand that he was having for lunch.
Read more...
www.henleystandard.co.uk/news/home/19...
Read more...
www.henleystandard.co.uk/news/home/19...
Red kite stole my hummus
A MAN has told how a red kite snatched bread and hummus from his hand that he was having for lunch. Geof Haigh, 72, was sitting on a bench under a veranda in his garden at home in Whitehills Green, Go...
www.henleystandard.co.uk
April 11, 2025 at 2:10 PM
Until recently my all-time favourite Henley Standard headline was "Red Kite ate my sandwich", made funnier by the revelation that the victim actually worked for the newspaper, which conjures up such a clear image about what a slow-news week it was. This week, they are clearly trying to double down!
Does this period of tariff-driven chaos mean that businesses should hunker down and wait it out? Perhaps not. The case for counter-cyclical investment explored in this week's Moving Tribes.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
Death and tariffs
Running a business amidst the madness
open.substack.com
April 9, 2025 at 10:46 AM
Does this period of tariff-driven chaos mean that businesses should hunker down and wait it out? Perhaps not. The case for counter-cyclical investment explored in this week's Moving Tribes.
open.substack.com/pub/movingtr...
open.substack.com/pub/movingtr...
The on-off-on-off tariffs stuff coming out of the US is going to be genuinely fascinating to watch play out (in a masochistic sort of way). It seems to me to be a potential fracture point between Trump (who genuinely believes in them) and the rest of his Maga coalition, who by and large don't.
March 27, 2025 at 2:51 PM
The on-off-on-off tariffs stuff coming out of the US is going to be genuinely fascinating to watch play out (in a masochistic sort of way). It seems to me to be a potential fracture point between Trump (who genuinely believes in them) and the rest of his Maga coalition, who by and large don't.
What do Rachel Reeves, the Office for National Statistics and Wetherspoons have in common?
They've all provided us with clues in the last few days about how the rest of 2025 is going to play out for those of us in retail and hospitality businesses.
open.substack.com/pub/movingtr...
They've all provided us with clues in the last few days about how the rest of 2025 is going to play out for those of us in retail and hospitality businesses.
open.substack.com/pub/movingtr...
Reading the tea leaves
What the rest of 2025 holds for retail and hospitality businesses
open.substack.com
March 27, 2025 at 11:21 AM
What do Rachel Reeves, the Office for National Statistics and Wetherspoons have in common?
They've all provided us with clues in the last few days about how the rest of 2025 is going to play out for those of us in retail and hospitality businesses.
open.substack.com/pub/movingtr...
They've all provided us with clues in the last few days about how the rest of 2025 is going to play out for those of us in retail and hospitality businesses.
open.substack.com/pub/movingtr...
Is Private Equity evil? Is life as a public company easy? Are employee owned partnerships the corporate nirvana?
All this and more explored in this weeks’ Moving Tribes (spoiler - the answer is more complicated than that!)
open.substack.com/pub/movingtr...
All this and more explored in this weeks’ Moving Tribes (spoiler - the answer is more complicated than that!)
open.substack.com/pub/movingtr...
Public good
Private bad?
open.substack.com
March 13, 2025 at 2:24 PM
Is Private Equity evil? Is life as a public company easy? Are employee owned partnerships the corporate nirvana?
All this and more explored in this weeks’ Moving Tribes (spoiler - the answer is more complicated than that!)
open.substack.com/pub/movingtr...
All this and more explored in this weeks’ Moving Tribes (spoiler - the answer is more complicated than that!)
open.substack.com/pub/movingtr...