What’s the best way to transform your business?

People change, technologies evolve, we prosper and we encounter losses. The only thing we can rely on is the inevitability of change. In some cases, we know when to expect it, at other times we are taken by surprise.

 

We are constantly trying to protect ourselves from changes that threaten the stability of our lives. We establish homes, careers, education and repetitive routines that minimize unwanted changes. If something forces us to change the “good old ways”, we approach the situation through our own personality. Some people take the early bird attitude, trying new things head on. Others wait a while and see if the early birds survive. When the rest eventually follow, the early birds are already figuring out the next big thing.

 

Business transformation is about taking a controlled approach to changes in the market. We analyze the impact, evaluate the consequences and create mitigation plans. Identifying the change early on gives us time to act. In the best scenario, we are able to capitalize on changes in the market for our own benefit. That requires creativity, innovation and capacity to adopt different ways of working in a short time frame.

 

The biggest obstacle to a successful business transformation is fear of failure. When fear is a factor, we plan our transformation based on limitations rather than opportunities. We do just enough but never truly reach our full potential. This eventually causes us to fall behind the bolder companies trailblazing into new frontiers.

 

The main factor in successful business transformation is the ability to learn from previous success. During a successful transformation you will probably experience all the pitfalls of that particular path while still meeting your targets. So in conclusion, tolerate failures but learn from the successes.

 

Key points:

        Change is inevitable

        Utilize a controlled approach

        Tolerate failures

        Learn from successes

        Complete your transformation.

 

Author:  Sami Dadu, Process Advisor

 

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