Posts tagged 'Change'

Change

Ahhhh.  The weather has begun to shift from the humid blast furnace that is August to the cooler, less humid days of September.  The kids are back in school and bright yellow school buses flit across the county once again.

The Orioles are winding down their regular season while the Ravens are getting their regular season under way.  And all of Baltimore is all abuzz with talk of possible post-season baseball for the first time in more than a decade.

These are all welcome changes, especially if you're an Orioles fan!  Change happens every day.  Most of us welcome the change in seasons and look forward to those early signs of the incoming season like the clear, cool nights which reveal the planets, stars and galaxies in all their glory.

Some change is fascinating to witness.  ENIAC, commonly thought of as the first modern computer was built in 1944.  It was larger than an 18 wheeler, weighed more than 17 Chevy Camaros, and consumed more than 140,000 watts of electricity to execute up to 5,000 instructions per second.

In 1989 the popular 486 microprocessor was built on a tiny piece of silicon about the size of a dime and could execute up to 54,000,000 instructions per second.  By contrast, today's smart phone places far greater computing power right in the palm of your hand.  Now, that's change!

This is just one example of dramatic technological developments.  Think of how those developments have changed your personal life.  Think of the impact they've had on your business life.  And, technology is only one of the drivers of change!

Many people agree that the pace of change is staggering and that adapting to the changing business climate is one of the crucial capabilities of any successful business leader.  From a business standpoint, some changes are welcome and some are not so welcome, but the most successful among us recognize that change is inevitable and adapt their strategies and tactics accordingly.

As a business leader, how do you know if you're in tune with the pace of change in your industry?  What adjustments should you be considering when it comes to your strategies, goals, and plans?  How do you ensure that your planning process adequately accounts for changes in your industry?  To what extent is change embraced rather than avoided?  These are questions that you and your business coach can explore at length so that your path forward is not only clearer but directly relevant to your situation.  If you don't have a business coach, here are three reasons you should.

Change Management  Change  Business Coach

09-17-2012 11:58:25
 

What's Standing In Your Way?

This is a favorite question of mine when meeting with potential clients after they express the inevitable frustration that comes with unmet goals or lackluster performance.  The answer is often “the economy.”

This reveals a particular blind spot amongst many entrepreneurs and executives.  When I delve deeper into their competitive situations, more often than not, I learn that the potential client has competitors who are doing rather well in spite of the economy.

The implication is that, if one or more competitors can thrive, the prospect should also have the ability to do better.  While it is true that the opportunity to thrive does exist, the ability to outpace the competition often boils down to the willingness of management to change.  This is where the blind spots are often revealed.   As a business coach, it is easy for me to see.  The challenge then becomes getting the client to recognize those blind spots.

You see, it is quite often the entrepreneur or executive him/herself who is standing in the way.  Or, more specifically, it is their failure to see beyond the obvious challenge and identify opportunities for them to gain market share or to improve margins.  Don’t get me wrong.   One can’t simply pretend the economy isn’t a huge challenge for Americans.  It is, but it doesn’t have to end there.

It is disturbing how many business people are simply hunkering down and waiting for customers to start spending again.  They don’t allow for the possibility that they can take proactive measures toward improved performance.  They know there is nothing more they can do!

I recently had a solo entrepreneur tell me that there was absolutely nothing under the sun that he could do differently to increase revenues.  He had been stagnant for three full years and was proud of his loyal customer base.  He didn’t allow for the possibility that he had overlooked opportunities to upsell to those customers and that his direct competitors had all increased their market share.  It wasn’t until we got deep into the discussion that it dawned on him that he had completely overlooked some key opportunities and that he had been standing in his own way!

If you have an uneasy feeling that you too might be standing in your own way, contact us now for a free initial consultation so that you can go beyond survival mode and actually thrive!

Success  Personal Growth  Executive Coach  Change  Business Coach

09-07-2012 21:35:37