Growing a business means change and change requires an ability to manage the transition.
Transition begins with a process of “letting go”. It is very easy to remain in the familiar comfort zone, doing things the same way and avoiding fear of the unknown. This applies to those that are quitting a job and venturing out on their own as well as those that have hit their business ceiling and growth has stagnated, thus requiring a new way of doing things.
The transition management process starts with identifying the changes. What will be impacted? What are the risks in the areas of financial growth cost of the change, time requirements and family and customer challenges?
Transition does not mean a short term quick fix. Transition is associated with change and change means a new way of looking at every aspect of a business. Individual planning for each area of potential change is essential. Prioritization is important in this stage of transition. Which item will have the greatest impact on the most important need the business is facing?
I call transition management the growth danger zone. This is the time that many start-ups give up and existing businesses revert back to their old ways until they fade out of existence.
As the small action steps are identified, prioritized and a time schedule assigned for completion of each item, then a celebration has to be scheduled honoring that success.
Transition management has to be a “supported” effort. It is very difficult for business owners to step back and take an objective look as to where they have been, where they are now, and where they want to go. By “supported”, I mean that there is a guide, a mentor to walk thru the process with you and to hold your “feet to the fire” as you climb up the mountain of change.
As I mentioned, this is not a short term process. The longer the firm has been in business, the harder it becomes to change direction. Developing a transition management plan will take four to five “work sessions”; each session has to be reviewed, discussed and then built upon at the next session.
Yes, it is a lot of hard work but I promise you that you will be renewed and re-energized as you participate in the process.
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