I think Churchill considered the idea that they would lose Great Britain. He was determined that they would fight on from the countries of the commonwealth.
Australia, Canada, New Zealand, South Africa, etc. along with the Navy.
It all came down to the Battle of Britain. After Dunkerque it would take months to reequip the Army and train enough new soldiers to be able to defeat the Germans on land. But, the Germans could not get an invasion force past the Royal Navy - unless they could establish air superiority over the Channel. When the Luftwaffe could not defeat the Royal Air Force, Hitler knew the jig was up and abandoned invasion plans.
Interesting, I did not know that.