 Change can be profound both personally and professionally. The two go hand in hand. If you try and separate the two it can be even more difficult as an owner. Your personal direction and business direction must be in complete alignment.
It is also imperative that your employees recognize each day brings change and new challenges. It might be that you need to make adjustments to employee benefits. It may be that you need to adjust schedules and hours. It may be that you need to downsize, re-structure responsibilities, or hire additional employees. Your company culture should reflect an understanding and knowledge of the potential for change, and you need to make sure your employees are adequately prepared and informed. Get them involved, share information along the way. Ask for their input and opinions when possible. Buy-in will happen quicker and the change will go smoother with a faster transition. Buy-in is a must!
So how can you prepare for change?
Well, some changes are predictable, others are not. Identify the predictable changes, and plan accordingly. For example, your old method of advertising may be solely radio or newspaper ads.
As consumers have become increasingly more technology dependant, perhaps it’s time to re-evaluate your marketing plans and venture into social marketing or online advertising. Visit your competitions sites. What are they doing? What aren’t they doing? What is your niche – do you know? Do you market that? Do you market yourself? Are you branded? Do you know if you are branded?
In the recent recession, many companies were faced with the task of reducing major line items and expenses. Make sure you have a firm understanding of your employees’ rolls and job responsibilities and conduct employee reviews yearly or quarterly to keep the lines of communication open. Also, identify your top expenses and prioritize them in order of importance, so if need be, you’ll know which costs can be reduced or eliminated. Always be award of your breakeven and adjust your point of reference when your expenses change.
While it is impossible to predict or prepare for every possible change, it is important that potential changes are constantly on your radar. It is also important to remember that not all change is bad. As the economy gets better, there will be more opportunities for growth, expansion, jobs, etc., all examples of change for the better. Stay focused and having a written plan is a MUST. Plans aren’t truly plans until you write them down. Get out the paper and capture what’s on your mind and make it real and come to life.
Lastly, don’t wait for change to come to you. In some cases you may need to initiate change in order to get ahead of the curve. Enhancing current processes and strategies fosters creativity and encourages a “thinking outside the box” attitude among employees. Again employee’s involvement and receipt of feedback is vital to your success. Reflection in the mirror is always necessary to continually improve and move forward towards your personal and business visions. Take the time to stop…reflect…what is working (celebrate), what didn’t work….adjust.
Learning how to embrace and prepare for change is crucial not only in the business world, but for life in general. Are you ready?
Shelley Smith is the President of Pink Sky, Inc., and a TAB-Certified Facilitator in the Newport News, VA area. Prior to owning her own company, Shelley spent several decades in top executive positions within Marriott Corporation, LTD Management and HMP Properties. Most of those years were spent working directly in the Hampton Roads area. She has established a long line of networking partners of well-respected and established companies.
Shelley has substantial knowledge and experience in the operations of day-to-day businesses. Her expertise includes making assessments of a stand-alone unit or multiple units, reviewing key performance drivers and advising the owner, president or CEO on how to deploy their staff and use other resources to operate more efficiently through systems and processes.
Shelley’s education includes certifications from Cornell Business School in Ithaca, NY as well as a long list of professional certifications acquired while working for and within Marriott, Hilton, Starwood and Intercontinental Hotels.
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