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How To Convert Change Into a Positive Benefit for Your Business

Apr 04, 2016 04:14PM ● Published by Warren Williams

Change. We hear this theme constantly, from many sources. We’ve heard over the years how important change is in the business environment. You might say “I’m a small business. All we do is change!” And you would probably be right. But the reality of the marketplace is upheaval, re-invention and rebirth, with business models that come and go. How effective are we at dealing with such a pace?

 

“When the rate of change inside the company is exceeded by the rate of change outside the company, the end is near.”

—Jack Welch, the former Chairman of GE

 

Change is more than just inevitable. Consumers and business customers alike practically demand it. Get better, get faster, get more relevant, increase your service levels, grow your product families, integrate with other services….the list goes on.


"The most successful businessman is the man who holds onto the old just as long as it is good, and grabs the new just as soon as it is better."                 
— Robert P. Vanderpoel

 

So how do you deal with it? How do you convert change into a positive benefit? Here are 5 steps in dealing with change:

  • Accept that change is not only unavoidable, it is necessary.
  • Recognize that your ability to adapt to changing markets, technology, buying habits, and natural lifecycles of products will decide your long term success.
  • Build change into your business culture, to take advantage of what change can bring. Encourage your team to question the status quo, to find new and better ways to conduct business, serve your customers, and create new market opportunities.
  • Don’t get comfortable. You can’t afford to.

As business people, we have the opportunity reinvent ourselves and our businesses on a constant basis. It’s what keeps us top of mind and valuable to our customers.

Warren Williams is the president of TurningPoint Coaching for Business Performance, Inc.


TurningPoint Coaching for Business Performance, Inc. - Concord, NC

Every business, no matter how small, has the potential to be great. The road to greatness is full of turning points, of opportunities and challenges. Each turning point provides a chance ... Read More » 

 

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