The Leander Business Circle Offers Business Networking to Local Home-based Entrepreneurs
     

Featured articles

First impressions, a domino effect
Business identity, more than a name
Quality, the key to building your reputation
Networking your way to success
Prospecting: The Search for Customers
Getting Through A Seasonal Slump
5 Easy Steps to Successful Marketing
Minding your Business from the Inside
Create a Niche Market for Your Business
How to Manage Business Transitions
The Holiday Season is a Ripe Time to Market
Success is in the Details: A quick guide to planning a small business
Chamber Membership Benefits Community and Business
Recession Offers Opportunities for Entrepreneurs and Consumers
City of Leander Forges Bright Future
2009 Business Success Starts Now
Marketing the US Economic Crisis
'All Aboard' the Leander Red Line
The Power of Direct Marketin
Protecting Cash Flow, the Ins and Outs

The Flow of Money, Explained (Part 1)

The Flow of Money, Explained (Part 2)

The Flow of Money, Your Role (Part 3)

Buy Local, Plant More Seeds to Grow

Driving Economic Development in Leander

 

How to Manage Business Transitions

All businesses, small and large, will inevitably experience transitions, most esulting in some form of organizational change. It isn’t so much the end result that is hard to deal with but navigating through the transition itself.

Transitions are neither positive nor negative. Both characteristics are generally present simultaneously. Whether brought on by internal and external factors such as market fluctuations, internal systems and procedures, management and so on, all offer new opportunities. Focusing on the discovery of these new opportunities and how your business can be a part of them will help you navigate through the transition.

First, make it a policy to act with intention, not react. A market fluctuation may be temporary, seasonal or a sign of the times, each requiring a different strategy. Assess the situation, try to identify the driver and evaluate how your
business will fair if you take no action or be proactive, conservatively and
aggressively.

Based on your assessment, if you do need to make changes, then you are definitely in a transition.

Embrace it by looking for opportunities either in the market or within your business (services, products, business operations, marketing, etc.). What does your target market want most? What products, services or demographics are the hottest? Can you fulfill any needs to the end consumer or to distributors
and manufacturers? Look for niches or how you can cross over into other industries and markets.

Don’t be afraid to reinvent your business, expand or change products, services and markets (discussed above). Your business has been evolving since its inception.

The airline industry, computer companies, retail stores and local favorites all manage transitions. The good news is you can too.

 
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Business Resources
Williamson County Clerk's Office
Small Business Development Center
Service Corps of Retired Execcutives
For comments, questions or submissions contact one of the following sponsors:

Kirk D. Clennan, CEcD
Dir., Economic Development City of Leander
512-528-2852
kirk@ci.leander.tx.us

Mary E. Bradshaw
President Greater Leander Chamber of Commerce
512-259-1907
contactus@leandercc.org

Grabrielle Melisende
Editorial & Art Direction
512-260-7886

Elisabet Mateos
Web Design Hosting and Promotion
512-736-2557

Need more information? email to:
info@leanderbusinesscircle.com


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