How to Manage Change in Your Business

How to Manage Change in Your Business

Change is all around us and it's the same for businesses. Some people are better than managing change in their business than others, for no other reason than that's the kind of person they are. The issue is that change management is something which needs to be done well to avoid unnecessary consequences.

Once you have identified that changes are or need to occur in your business, it's time to step up to the plate and make the process go as smoothly as possible. Today we're going to share some great advice we recieved from business and accountability coach AJ Pipe on how to identify that changes need to be made, and tips on how to manage those changes effectively.

Identifying Changes to Be Made in Your Business

Sometimes it's just a feeling. Othertimes you know because someone told you. Or it could be you've seen the hard facts written in your bank statement! The truth is, we should all be looking carefully at our businesses on a regular basis to find ways we can make things easier, better and more profitable.

We chatted with AJ Pipe, New Zealand's business and accountability coach for her advice on identifying if change is needed in a business and what to do about it.

"A really good time to make changes in your business is once you have your numbers from the previous year look at your profits in relation to your turn over.

Big changes could be cutting the fat to make your profits more robust. It is better for you to have a $20k TO from a $5k spend, then a $50k TO from a $40k spend. Cutting the fat also help with reducing stress and creating more time. Other big changes can be taking on staff, so you maybe able to take some time away from your business and introducing a policy of product development.

The main thing to do is make a decision of what you're going to focus on changing & research it. i.e. before taking on a business partner get an understanding of business structure obligations and what each person will be bringing to the table."

One of the services AJ offers is a monthly accountability and business coaching group, where she'll work with business owners on both the identifcation of changes, plus how to best manage them. If you need help in this area, we recommend you chat with AJ today!

How to Best Manage Change in Your Business

Whether it's planned or not, managing change successfully in your business is an important task for you to master. To help you do just that, here are some great suggestions to try out:

  • know the strengths and weakness of your team members - not everyone responds the same to a situation. Learn which team members can handle certain tasks and give those to them. If they need support to master the required changes, provide it!
  • explain the changes to everyone clearly - now is not the time to keep your employees and others involved in the dark. Tell them what is happening, explain what is required from them and what they can expect to occur. This helps everyone get behind what's happening.
  • provide support - give everyone the resources and equipment they need to help you implement your changes.
  • be present - this means giving your employees the space to implement the changes, but being there to assist when they get stuck. You should also check up to see what's happening and give support if necessary.
  • remain as calm and stressfree as possible - things do turn pear-shaped. Expect that there will be bumps in the road, which will help you to relax and not panic.
  • make well-informed decisions - analyse what's happening and then make the best decision you can with the information you have.
  • write the changes down - have a plan on how you will implement the changes, solutions on what to do if things don't work and how you will measure the success of these changes. You should also set a time frame for the assessment and implementation of the changes too.

Finally, completing a business plan in which you state the changes to make and how you will make them is a great idea. Take a read of our article Tips On Creating a Business Plan to make this process as smooth as possible.

Posted: Friday 11 January 2019