Always easier said then done and, sorry but, change is the only constant in business and in life...to burrow yet another cliché. Business needs to keep up or die in a fast-moving markets and in the case of retail, the change could not be more evident and significant. Just take a cursory look at our high streets and count the number of cafes and charity shops replacing national chains which not so long ago had replaced our beloved corner shops and other independents.
So what's new?Well, nothing really especially when it comes to the business of change management. SMEs and multinationals alike appear to be left behind as they fail to crack the code of change. No amount of developmental seminars, change consultants or armies of dew-eyed MBAs armed with manuals could prevent Kodak, Dunlop and 1000's of others lesser known but long-successful businesses go to the ground with a thump.
And?To survive is to accept the need for change yet we must equally figure out the answers to the what, when and how to demystify all that is involved in the process. As a business coach, it is my job to first work together with my clients to build the business case for change and help them adopt a clear, realistic and iterative approach that delivers change they want where impact is practical and significant. It is very attractive for business owners and coaches to rush to the other side of the hill where new technology, business processes and structures promise to deliver windfalls of customers or double-figure productivity gains. Seen it way too often and have been guilty of the same as a business owner and consultant... many lessons learned.
DIY Change?Change from within is tough. It is also unrealistic to expect the same team running the business with the same mindset to bring about real change as the title of this article suggests.
You just have to refer back to your last decision to change your diet or start working out every other day... how's that working out for you? It is possible but even if you're a model for discipline and commitment, you can't speak for the rest of your team.
A Business Coach not only offers you an independent and expert support to help with your analysis and decision-making but also the framework to maintain direction and pace towards the finishing line.
Readiness for ChangeChange is not for everyone. History is full of battle cries towards progress but with few or no followers who preferred the comfort of doing nothing. Establishing your team's readiness for change and removing resistance along the way is detrimental and can be done relatively smoothly with a number of proven approaches.
Many change programs get planned in conference rooms without consultation before being announced to the 'shop-floor' via a memo or at best with balloons and a few cupcakes! Change must allow demonstrable benefits to all participants with a good level of measurability to help everyone measure their relative position along the way.
Cost/Benefit
This is down to a simple question. What's it worth to you?
How much would you be willing to invest into a new market for your products or services which can deliver a potential 25% to your current revenue? What would you pay to save 30% on your current inventory levels? Did you know that your team is only 60% utilised? what is it worth to you if some are selected and trained to improve operational productivity throughout the company?
To end.. a couple of case-studies...
(names and locations changed)
> Ray, our friendly local grocer would love to start delivering fresh produce to local millennials who embraced a vegan lifestyle but prefer to place their order online on the train back from work. Ray is happy to pay for an online shop and engage professional management and online marketing...
I asked Ray;
Who is going to fulfil the orders? deal with complaints?
What numbers support your assumption that online orders will pay for the website and maintenance?
Have you looked at other markets or offering that the website could deliver to drive sales? such as exclusively local organic produce? a loyalty scheme?
>Marco, a progressive CMO just came back from SXSW(South by SouthWest) conference and festival feeling excited and determined to offer an Augmented Reality App to promote his Ski Travel business. According to Marco, the app would offer users a more entertaining way to explore the resorts and the deals on offer. It also offers the business a far more intelligent method of engaging with the market.
Marco did his homework, presented a fantastic plan to the board and yet his proposal got vetoed by the board on the basis of cost and doubt over the adoption of the app by customers.
I asked Marco;
How many on the board have used an Apps before? were they with you at the festival?
What is demographic of your customer-base? Have you market tested a similar app with a similar demographic?
How did the idea come to you? were you inspired by another product? how similar is it to your business?
Can you market test with a similar app to demonstrate benefit to the board?
Please feel to contact me (hayder@fekaiki.com) with your thoughts or questions
So what's new?Well, nothing really especially when it comes to the business of change management. SMEs and multinationals alike appear to be left behind as they fail to crack the code of change. No amount of developmental seminars, change consultants or armies of dew-eyed MBAs armed with manuals could prevent Kodak, Dunlop and 1000's of others lesser known but long-successful businesses go to the ground with a thump.
And?To survive is to accept the need for change yet we must equally figure out the answers to the what, when and how to demystify all that is involved in the process. As a business coach, it is my job to first work together with my clients to build the business case for change and help them adopt a clear, realistic and iterative approach that delivers change they want where impact is practical and significant. It is very attractive for business owners and coaches to rush to the other side of the hill where new technology, business processes and structures promise to deliver windfalls of customers or double-figure productivity gains. Seen it way too often and have been guilty of the same as a business owner and consultant... many lessons learned.
DIY Change?Change from within is tough. It is also unrealistic to expect the same team running the business with the same mindset to bring about real change as the title of this article suggests.
You just have to refer back to your last decision to change your diet or start working out every other day... how's that working out for you? It is possible but even if you're a model for discipline and commitment, you can't speak for the rest of your team.
A Business Coach not only offers you an independent and expert support to help with your analysis and decision-making but also the framework to maintain direction and pace towards the finishing line.
Readiness for ChangeChange is not for everyone. History is full of battle cries towards progress but with few or no followers who preferred the comfort of doing nothing. Establishing your team's readiness for change and removing resistance along the way is detrimental and can be done relatively smoothly with a number of proven approaches.
Many change programs get planned in conference rooms without consultation before being announced to the 'shop-floor' via a memo or at best with balloons and a few cupcakes! Change must allow demonstrable benefits to all participants with a good level of measurability to help everyone measure their relative position along the way.
Cost/Benefit
This is down to a simple question. What's it worth to you?
How much would you be willing to invest into a new market for your products or services which can deliver a potential 25% to your current revenue? What would you pay to save 30% on your current inventory levels? Did you know that your team is only 60% utilised? what is it worth to you if some are selected and trained to improve operational productivity throughout the company?
To end.. a couple of case-studies...
(names and locations changed)
> Ray, our friendly local grocer would love to start delivering fresh produce to local millennials who embraced a vegan lifestyle but prefer to place their order online on the train back from work. Ray is happy to pay for an online shop and engage professional management and online marketing...
I asked Ray;
Who is going to fulfil the orders? deal with complaints?
What numbers support your assumption that online orders will pay for the website and maintenance?
Have you looked at other markets or offering that the website could deliver to drive sales? such as exclusively local organic produce? a loyalty scheme?
>Marco, a progressive CMO just came back from SXSW(South by SouthWest) conference and festival feeling excited and determined to offer an Augmented Reality App to promote his Ski Travel business. According to Marco, the app would offer users a more entertaining way to explore the resorts and the deals on offer. It also offers the business a far more intelligent method of engaging with the market.
Marco did his homework, presented a fantastic plan to the board and yet his proposal got vetoed by the board on the basis of cost and doubt over the adoption of the app by customers.
I asked Marco;
How many on the board have used an Apps before? were they with you at the festival?
What is demographic of your customer-base? Have you market tested a similar app with a similar demographic?
How did the idea come to you? were you inspired by another product? how similar is it to your business?
Can you market test with a similar app to demonstrate benefit to the board?
Please feel to contact me (hayder@fekaiki.com) with your thoughts or questions
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