Change is inevitable. In every aspect of life, change happens. Whether the process occurs within or without, things will not remain the same.
For Bill Smith, Double Iron Consulting’s founder, change is necessary and can’t be avoided. In business, for example, change is to be expected.
Needs and wants vacillate, supply and demand shift, attitudes and interests evolve. He had a front seat view of how change happens in business thanks to his family’s venture, Royal Cup Coffee and Tea.
Smith’s experience in the business shaped his perspectives regarding the change. As a third-generation business leader, he has seen how important the ability of a company to adapt is to its resilience and success.
Challenges That Companies Face When Attempting to Implement Change
According to Double Iron Consulting, companies have to wrestle with several difficulties when making changes. The first struggle is usually conflict which occurs internally. Change often leads to feelings of fear and uncertainty, especially when either (or both) management and staff do not entirely understand what is expected of them. Conflicts create friction and costly delays.
Another challenge is resistance. There is always a natural reaction to change, which is to resist. The status quo is often viewed as secure and must be protected. This is particularly true with significant transitions because people may see these as threats to what they know as familiar and safe.
Also, a problem when implementing change is the lack of commitment. No matter how strong, momentum can be derailed by the absence of commitment. When a company fails to embrace the new vision and practices, it will be challenging to break through the self-imposed barriers set up in the past.
Why All Companies Should Look Forward to Change
All companies know that change can be painful. Something new is unfamiliar and likely to be treated with suspicion and doubt. However, the business world is dynamic, demanding that companies adapt to survive and compete.
What worked remarkably well for an industry in the 1990s may be considered obsolete today. Even strategies and approaches embraced with enthusiasm just ten years ago will now be seen as archaic or ineffective.
Although change is daunting, change also can build a stronger company and maintain the company’s position in the industry. In some cases, it could even mean advancing in a highly volatile market. Successfully implementing change can help a company build or sustain its competitive edge – a necessity, especially in a climate where businesses have to be relevant to remain in business.
Change promotes positive outcomes, such as developing skills, improving processes, eliminating what no longer works, developing staff and leaders, and product or service innovation. With these elements working together, the company will build a stronger foundation and take advantage of better opportunities, increasing profitability and improving staff morale. When people are confident about their work, they trust their company. As a result, they perform better and produce better outputs.
Where to Find Help
The excitement of implementing change is often dampened by the lack of knowledge in the management team. Change can be costly and disruptive, so many companies will not take any chances and work with experienced business consultants like Bill Smith of Double Iron Consulting. They understand which strategies work for which industry and business model.
Business consultants like those of Double Iron Consulting are also well-versed about the needs of different companies based on their vision, policies, and practices. This is why it is necessary to implement changes customized to the company’s requirements. There is no such thing as a “one size fits all” approach in a constantly evolving business world.
Consultants also offer what many businesses lack: a third-person objective view. Many companies fail to identify their challenges successfully because they do not have an outsider’s perspective. Business consultants such as Bill Smith Double Iron Consulting can look into the company’s practices, study their past and present performance, and assess their future goals without the blinders caused by internal biases. As a result, business consultants can help the company design a workable plan for effective change management.
One of the critical components of effective change in a company is succession planning. Succession planning is a critical business element that identifies and develops the best leaders who will lead the company in the future.
To sustain itself, a company must know how to identify the best candidates for critical leadership roles within the organization. Ideally, these leaders must have the vision and capabilities in line with the company’s vision. This will ensure the continuation of a plan that will help the company protect its sustainability.
Creating a succession plan also ensures that leaders will be in place to steer the company in the right direction, which will ultimately help keep the company’s competitive edge and profitability.
Are You Ready for the Change That is to Come?
Change is imminent. It can and will happen, either internally or due to an impetus that is difficult to ignore. Double Iron Consulting is there to help a company survive and then thrive during those changes. One of the most significant steps is to see it first as an opportunity – uncomfortable but filled with potential and possibilities.