Small businesses the world over and business in general is susceptible to change. Change takes place constantly and it has been proved again and again that those who adapt quickly to change can survive almost any challenge. As a small business owner, you can take command and lead your employees through this change. Every employee will react to change in his or her own manner. Whatever be their response, it is you as their leader, who should help them adapt and adjust to the new circumstances.
Change is unavoidable
The world of business is also prone to ups and downs as the natural world. No one can either foresee or predict the future and even huge multinational companies have also crashed to the ground unable to withstand, the vagaries of change. Change is unavoidable and the ones who have been able to negotiate change carefully have been able to survive because of the keen foresight of their leadership and their capability to tackle change, confront it, and come to terms with it. Small business owners come across many minor situations of change but they face the biggest challenge when larger companies offer to buy them out. The question looms up large whether it would be more profitable to sell or to run the business independently and bear the consequences. Many small businesses realize at this point that the advantage of being your own boss is that during change you are answerable only to yourself.
Improve your change navigation skills
As people navigate a big change, any flexible behaviour, or the lack of it, works in conjunction with thinking styles. A research of the employees’ attitude towards change shows that 33% of them are open- minded, 33% can go either way, and 33% prefer to keep things the same. A good business owner with leadership qualities can mobilize the 33% who naturally welcome change to keep them excited and positive and enlist them as change allies. They will be able to persuade the 33 % who are undecided about the brilliant solution that will benefit everyone. They will prove to the 33% who resist change that the situation is not as bad as they fear by showing the many ways in which change is necessary and beneficial.
Flexibility – the key to adaption of change
Here are three ways you can inspire flexibility into your operations right away. Change your working style – not just with employees, but also with customers and suppliers. Inculcate flexible working hours into your operational system. This could also mean part-time working and working from home for flexibility of the workforce. Another important thing to do during the period of change is to take clients into your confidence. They are the one who can be your best advisors, your harshest critics, and above all, your greatest source of fresh income. They can also be the largest source of idea generation, with positive suggestions and feedback. More importantly, you should open the doors to your suppliers, and discuss mutually advantageous opportunities on financial matters and bring it to your advantage.
Stay ahead with technology
Technology can help you bring down the cost dramatically. During the time of transition you should try to bring in technology in all areas such as financial management, boosting sales, communication, and productivity. You could also opt for cloud technology to minimize your costs, since there is no need for capital outlay and no maintenance costs. You can leverage IT to explore new sales channels, take on larger competitors, and also deliver better service. Small businesses should grasp the opportunity and embrace change, as soon as they perceive signs of change. The wider economy will take on and continue its lumbering course, but as the rules of entrepreneurship advise – don’t procrastinate, because there’s no time like the present. And, change is certain and imminent and no one can prevent change.
Entrepreneurial Learning
The article gives you an insight into ways of the business world and how small businesses the world over are susceptible to change. Change takes place constantly and it has been proved again and again that those who adapt quickly to change can survive almost any challenge. As a small business owner, you can take command and lead your employees through this change. Every one should remember that change is certain and imminent and no one can prevent change.
See more at http://www.kuzabiashara.co.ke
As a small business moves through the various stages of its life cycle, it requires different support programs that are suited to its specific needs at that time. Kuza Biashara offers training, educational, and business support services which are critical to their success and enable them move from an informal sub-sector to a knowledge based economy. http://www.kuzabiashara.co.ke