May 14 2012
Is it “Time To Change”?
Like this song made famous in the 70’s by the Brady Bunch, sometimes it’s time to change.
On The Brady Bunch, the refrain humorously features Peter's voice crack as the group sings the refrain lyrics "When it's time to change, you've got to rearrange". But it can be a scary thing ... especially in business.
So how do you know when it's time to change directions In your business??? Companies - especially small ones need to be aware not only the changing needs in the marketplace in general but especially with their customer’s needs.
So it's obvious that if your customer base is declining that it's time to reevaluate your plan but what if business is steady and good??
I have a friend who was a hardware engineer who specialized in mainframe computers. He worked for a large computer company and when he announced his retirement, he was besieged by companies who needed his expertise. He started a consulting business and sailed into the next phase of life and had a successful company for several years. Business was so good in fact, that he didn't take the time to survey the landscape in his industry or to update his skills and so he was totally blindsided when his business dropped off virtually overnight as corporations moved away from the types of computer hardware that he worked on!
My takeaway from this story is that even when business is good .... And especially when it's not, the smart business owner is constantly evaluating the marketplace and looking for new opportunities and knows that “When It’s Time To Change, You’ve Got To Rearrange”!
So if it's time to at least think about changing directions, here are some things to consider:
1) Look at your company with new eyes and be honest with yourself about evaluating what went wrong
2) Research, research, research - take the time to fully research your new idea, seek out advice from people in that arena and put together a comprehensive business plan
3) If you have employees, involve and prepare them as much as possible. Their buy-in to your changes is essential for your success!!
4) Make changes slowly and consistently if you have the time and financial flexibility - this will ensure a smooth transition for everyone.
Finally, remember that whatever you do, make sure you are following your passion. I am the first person to stand and say that any business is ALOT of work and if you hearts not in it, you may make money but you won't be happy and while it's true that financial gain is important ... True success is finding a way to get paid doing what you love.
Speaking of change (do ya like that Segway)??? It is finally a gorgeous day in Minnesota so I decided to take the bike out and see where we would end up. After an hour of riding I stumbled across the quintessential country restaurant in Dassel called the 3rd Street Cafe. Everyone was so friendly and welcoming to this biker chic and their chicken wrap is fantastic!!!!
Happy mothers day to all of you!!! I am blessed to have the best mom ever - she hasn't always agreed with my decisions but has never wavered in her love, support and encouragement!! I know that no matter what, she will always be the president of my fan club :) - Thanks Mom - I love you and know I will always be your baby :)
Thanks for reading :)