Planning for Change
Change is constant and, to keep up with or ahead of our competitors, we must plan for change.
Planned Change is not about change just for the sake of change. It is also not always about being a disruptor in the marketplace. In most cases change is simply about either retaining or growing your market share.
The old adage “if it isn’t broken, don’t fix it”, which was a previous favourite of many business owners, has never been the greatest way to run a business if you want to stay ahead of your competitors. Today, change is moving faster than ever, and to keep up with or ahead of our competitors we must embrace change. Whether we like it or not, change now appears to be the only constant.
So, how do we plan for change? There are many approaches to successfully plan for change. Here are a couple of tips to help you look at some of the areas it will most affect:
- Monthly customer / sales review to track both market and customer movements.
- Monthly product / service mix reviews to keep in touch with customer requirements.
- Regular reviews of customer collections.
- Regular reviews of what your competitors are doing.
- Regular reviews of technology applicable to your business and market.
If you need help with any of this, we as Business Advisors are Experts in Change Management and can provide the guidance and solutions to help you to both keep up with and implement required changes in a planned and non-disruptive way.
Change, whether we want it or not, is here to stay and accelerating in pace with new technologies. So, rather than waste your energy on fighting it, invest your time in adapting to the change. That way you will not only stay relevant in your marketplace but also potentially improve your position in it.
Many businesses waste both valuable time and potential profits because they are simply unable to identify the changes that need to be made in their businesses. Sometimes, all that is needed is the fresh pair of eyes of a good Business Advisor.
If you are an Independent Business Advisor or Business Coach who would like a support network of like-minded individuals, then why not have a look at the iBANNZ website https://ibannz.co.nz/ If you think that this may be something for you but would like more information please email contact@ibannz.co.nz