We’ve all heard it before, change is a constant.
In an organic business environment like ours, how do you make sure you can continue to run your business successfully; while at the same time being aware of what is changing in the industry in order to identify potential threats or opportunities?
Cutting to the chase, defining success in an ever-changing environment is up to you. That is, your leadership style and approach will shape the success of your business.
I know that may sound daunting at first, but let’s break this down a little.
Managing yourself
Managing yourself is the start point – remember when you’re on the plane they ask you to fit your oxygen mask before helping anyone else!
Ask yourself if you’re ready both mentally and physically for the challenges that constant change throws at you. If you’re not ready, some signs might be that you react to changes emotionally; you resist new ideas or initiatives; you don’t accept criticism even when this is constructive; or pressure situations mean you can’t think clearly. If you see these signs, have a think about what you can do to prepare yourself for the next challenge you’ll face. Take time to do the things that recharge your batteries, whether it’s golf on the weekend, dinner with family or friends (or in my case a long ride on the motorbike!).
When you are in a frame of mind that is confident and self-assured, you are far more equipped to deal with what is thrown at you in an industry that never sits still.
Managing others
Everyone is different, but have you thought about how you are at work plays out in how you influence other people? For example, if you’re not having a great day and have come to work a bit cranky, do you think your team will want to raise anything with you that needs resolution?
This is the ‘art’ of leadership – it requires you to be really aware of your impact on other people and to respond accordingly. This will help you gain the buy-in and commitment of your team by demonstrating integrity and personal responsibility; role modelling how you want the business to be (and your team to act); communicating effectively; providing clear direction and removing ‘roadblocks’ to success; and by giving (and receiving) feedback to help you and your team grow and evolve – thereby adapting to change. Focus on the outcomes you’re looking for, not necessarily on tasks, and provide some coaching where necessary to give a real uplift to performance.
Everyone who is a leader has a different approach, but be open to understanding your own strengths and areas for development as a leader. Remember you can (and should) always work on the areas where you are not so strong: but don’t forget to play to your strengths as well.
In the business vs on the business
I’ve spoken previously about the need for you to think about the amount of time you spend working ‘in the business’ (operations) versus ‘on the business’ (strategy). Naturally, when change is taking place rapidly, you will need to adjust your time to give more to strategic thinking. This is essential to ensure that you carefully analyse what’s changing and plan out how you and your business will respond.
Understanding your own leadership style is important to helping your business adapt to change. The way you deal with your own approach to leadership and how this plays out in your business can define success for you in an ever-changing environment.
I’ll leave you with an old joke about a worker who’s asked to cut pine trees to sell for Christmas. He needs to cut 500 a day to meet budget, but after 3 days he’s down to only 250 a day. When asked why he doesn’t stop to sharpen his axe, he responds ‘I don’t have time’.
Make sure you always take time to ‘sharpen your axe’!
Rod Bristow is the managing director of Infocus Wealth Management. He has 18 years’ experience in the financial services, consulting and agribusiness fields, including over eight years’ experience as a director of public and private enterprises.
For more insights from Rod, tune into The Transformation Series or sign up to the 30 Day Business Challenge.
