Crafting new ways to grow your business is something all leaders enjoy. Knowing that you are set to sail your business into uncharted waters is an exciting, yet daunting, concept. While I always get a thrill when building out a new strategy or direction for my company, I know that implementing change is a challenge often avoided by the faint-hearted.
The word change will be interpreted in many different ways by your staff, clients and stakeholders. Staff may fear your new direction is one that leaves them behind; clients may fear the products and services you once provided will be replaced and stakeholders may be unsure if your new strategy will continue to provide them with the same results. While all of these concerns are reasonable, they should not deter you from embarking on your journey to change.
Here are my five steps to implementing the smoothest possible journey to business change:
- Take a good hard look at your staff. How will their current roles and responsibilities be best matched to your new strategy? Will you need to promote key staff to fulfil the new challenges or is it best to bring in new people with the experience to drive change?
- Educate key staff. Across all aspects of life, change often requires an understanding which can only be reached through education. As the leader of your business it is your responsibility to educate staff on the reasons WHY you are changing the direction of the business. Let key staff know their role in fulfilling your new vision and where you hope to take the business.
- What’s in it for us? Like I said before, change can be a scary word for those who you have been providing a product or service to. Explain to your clients and stakeholders how your products or services will be adapted to accommodate your new vision and how this will be of help to them. Don’t be afraid to ask for feedback, you may find that your new vision aligns with certain clients and stakeholders meaning existing segments may need to evolve or be dropped entirely.
- Keep morale and motivation high. Providing regular updates to staff, clients and stakeholders will keep morale, motivation and trust on the level. Remember that your new vision will directly impact all factors of your business and it’s vital that you share this journey with those who have decided to help you achieve your goals.
- Don’t rush it. This is a simple one, but dare not question it or you may find yourself in the deep waters alone. Change is best delivered in bite size chunks. Rushing through your new strategy may push too hard in the one direction and leave key elements of your business behind, confused and frustrated.
As we enter the final weeks of the 30 Day Business Challenge, I hope you find these five tips helpful when it comes to implementing your new action plan.
There are a ton of lessons, tips and strategies to growing a more successful business in the No More Practice 30 Day Business Challenge. If you are interested in finding out more information, please visit the 30 Day Business Challenge.
