Rising to the challenge of change

Change is the only constant that you will experience in your life.

“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” Charles Darwin

In business, change sometimes happens more swiftly than we expect it to and it’s no different for those of us who own and run our own businesses. Customer demands shift, new technologies arise, more competition arrives, rules and regulations change and market trends vary. For some, change is seen as a threat – one that has the capacity to bring your business to a halt. But others embrace change, and for those businesses, growth lies ahead. Our own experience has shown us there is always opportunity in times of change.

Change is inevitable. The challenge is how should you manage change to make the most of it?

Be aware of the need for change

The first step in addressing change in your life is being aware of the need for change. Change can be brought about by both internal and external factors within your business. Recognising that a change is necessary for your business is the first step. Ignoring or delaying that things need to change can ultimately prove costly.

There is a need to diagnose, define, and understand what the change means before you act on it. This will enable you to determine what you need to do next in the scope of the identified change.

Have a strong desire for change

Like anything in life, if you don’t want to do it, generally speaking, you won’t. It is no different when dealing with change. You cannot change if you do not want to change. Change comes only to those who seek it.

More often than not, you may feel intimidated or uncertain by what change can bring. Change requires you to go outside your comfort zone. Awareness of the need for change needs to be coupled with the strong desire in order for change to happen.

Over time, you will see the rise and fall of many businesses. At times, the old transforms to the new – family businesses are handed over to the next generation, businesses restructure, expand or diversify into new markets. The bottom line is, change in your business is inevitable and you need to embrace change in order to move forward.

Assess your ability to change

How ready are you and your business to embrace change? Do you really have what it takes to change?

After establishing your need for change in your business, ask yourself:

• What are you willing to put at stake to achieve the change you want?
• Do you need professional guidance or coaching?
• Do you need additional staffing, new equipment or software?
• Will your team need upskilling?

Only after identifying the answers to these questions will you have a complete picture of how feasible change would be for your business.

What is your probability of success if you make the change?

Implement the change that needs to happen

Now it’s time to actually make the change. When implementing change, it needs to be clearly communicated to the people at all levels within your business. You need to get everyone within the business on board and engaged with your goal and understanding why you are making the change within your business.

Encourage your team members to share their views on the change process and create agreed targets and objectives. By documenting these targets and objectives you will then be able to more successfully measure the success of the planned changes. It is crucial to the success of the overall change process to gain the commitment of your team.

Take action and create the change you desire

Creating the change you desire in your business is a matter of taking action and implementing the required steps. If you need help to work through the change, our experienced business coaches can help you to facilitate your recovery and reset your planning. This will enable you to transition your business into a more stable operating environment where you can:

• explore new opportunities and innovations as you navigate the new normal
• focus on recovering lost business and evolving into potential new product and service areas
• concentrate on returning as a leaner, more evolved business post the change.

Rising to the challenge of change in your business can create further opportunities to the way you do business and help you become stronger and more profitable too.

If you’re ready to create change in your business, and would like some guidance, then get in touch with our team and we can discuss the potential options available to you.