Blog

There’s No Fun or Benefit in Standing Still in Business

Businesses operate in dynamic environments. Change is all around. Customers come and go and their preferences change. Old competitors are replaced by new, offering different products and services. If you don’t introduce change to your business, you’re standing still and opportunities pass you by. This means that you’re effectively giving business to your competitors who ‘do’ offer customers choice and change.

There’s no fun or benefit in standing still in business. It leads to declining sales, disappointment and frustration. This, in turn, affects staff morale and customer interest with negative outcomes.

So be creative, be inspirational and be proactive – bring on the change. This will inspire your staff. It will generate a positive environment for your customers to return to. It will promote your business and help lift sales and profit.

Being in business can be challenging so don’t expect things to improve if you don’t introduce positive change. And change needs to be regular. Take the initiative. If your business stands still, you’re inviting negative outcomes.

Useful Recommendations
Here are some practical and useful recommendations to keep your business fresh and inviting.

• Build change into your plans for your business, every year, at every possible level – especially in areas of sale and marketing.
• Involve your staff so they feel a part of the change that you introduce and they will promote it positively to your customers. Avoid staff resistance to change.
• Bring on change that not only attracts customers but also creates a sense of anticipation for your next change. This will create a following of both existing and new customers.
• Introduce change at an optimum time so as to maximize on the benefit of change. Timing can be a useful tool in promoting business.
• Change does not have to be big, it can be small, but change there must be and it needs to be noticeable to your customers to be beneficial to them.
• Change can deliver both direct and indirect benefits to your customers so ensure you introduce change that achieves both. If you’re selling products make the product changes visible. If you’re selling services, bring changes to your services that will appeal to your customer’s sense of value.
• Brainstorm ideas for positive change. Let your creativity run wild, you’ll be surprised with what you and your team can come up with and it’s fun.
• Plan to introduce change regularly to grow your sales. You should plan a list of changes that can be implemented at different optimum times throughout the year.
• If your business is losing patronage or sales are stagnant, look for change and not excuses.

Refresh your business, have fun and don’t let your business stand still. Introduce the right type of change at the right time and this will benefit your customers and your business. Lead, don’t follow.

Next Step
The current business environment is buoyant and this presents an opportune time to introduce change to your business to maximise sales, profit and cashflow.

The need for change applies equally to investments, perhaps more so, if you have a portfolio of investments in dynamic markets.

Remember the saying that “the only constant is change” and this is true of business.

If you’re considering a change of business advisors, we’d love to hear from you. We’re experienced business change agents and advisors. Follow us on our website, Linkedin or Twitter. Subscribe to our newsletters. Become a client and get much more.