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. |