Everything in life is in a constant state of change and adaptation to the present. It is the very nature of our evolution and it leaves businesses subject to frequent change as well.
While business goals tend to remain the same throughout the decades, strategies to achieve set goals must evolve in response to technological advances, consumer shifts, new market emergencies and internal structural changes.
At least one piece of the puzzle is always changing, casually changing other pieces and rendering the entire enterprise continuously in motion.
The best way to approach a change in external affairs is to calmly adapt your business strategy to the changes.
Calmly is a keyword in the insight behind evolving your business strategy. Remind yourself before and amidst the reconstruction that change is natural, it is constant, and you can adapt your business to it to remain in the flow without chaos or eruption.
Let’s dive deeper into how to go about a changing business strategy:
While you want to keep some matters under wraps, a bit of transparency can go a long way. Consider being honest with employees or with managers about the change you are heading into. Ask for feedback on structural inefficiencies or collaborative processes that could shift gear. Employees have a completely different perspective on business operation than you do; they see work from the ground and come face-to-face daily with the parts of your business that are outdated or misplaced.
It might be a good idea to accept feedback, consider it, and then have another meeting where creative collaboration is encouraged to consider ways to adapt to impending changes. You can also have HR oversee or run the meeting(s) to keep the conversation constructive and neutral.
Inform your key players about the changes you are about to make. This includes managers, team employees and clients. Explain that a big change is coming soon as a reaction to the event or environment that set this change in motion. Getting the news of change is important to everyone, even though it is in our DNA to adapt and evolve.
Preparing investors eases your financial nerves. Explaining top-down internally gets your team on board and motivated to execute the change. Letting consumers know in advance that business, as usual, will be conducted differently gives them the opportunity to be early adopters and to confront your change like an invitation to change with the times, too.
Every time you are encountered with change, take a moment for company introspection. Sincerely evaluate your strengths and weaknesses to understand where cuts can be made, where holes can be filled, and what strengths can be exploited as you cross into the new operating territory. It is important to evaluate internal operations every time you face a change because internal factors and synergy are in a constant state of evolution, as well.
Talk to your customers
At the end of the day, it is your customers who are leaving you or standing by your side. Talk to them. Tell them the external world or internal dynamics at your company are changing. Ask if they will stay onboard through a transition period; what improvements could be made for a better customer experience; how your company can better adapt to the present to offer a superior service. Make outreach as personal as possible, meeting in person or getting on the phone with clients.
Rosy Strategies offers resources for all areas of your business, from new development to automation implementation, digital marketing and business strategy evolution. If you are at a crossroads of a change in your business and unsure about how to best proceed, give us shout. We have countless experience with clients needing to change their course of action in order to continue achieving their goals. Let us help you change your strategy to keep reaching for your goals, too.