Are you leading change or is it leading you?
Is your business leading change, or is change leading you? Many business owners, in their eagerness to innovate, launch significant changes without a comprehensive plan. This often leads to unforeseen consequences that jeopardize the very stability they sought to improve.
Take Robert, for example. Eager to scale his landscaping business, he hired an additional work crew. However, he did so before he had a clear market-dominating position or standardized operating procedures. The new crew, unaware of his business's core values of integrity and quality, didn't understand how to carry them out for each customer. This resulted in a series of complaints, damaged equipment, and a tarnished reputation. The new crew's work was inconsistent, and instead of growing, Robert found himself spending all his time fixing mistakes and losing valuable clients. His change-driven decision ultimately hurt his bottom line and his business's reputation.
Before you make a move, you need to ask yourself: "Am I leading this change, or is it leading me?" A true leader understands that every decision, no matter how small, has a ripple effect. This means diving deep into your financial reports, assessing the potential impact on cash flow, and understanding how these changes will affect your balance sheet. Have you considered how your costs will fluctuate? What about staff roles, workloads, and potential turnover? These aren't just operational details; they are crucial components of your profitability.
Furthermore, a great leader never loses sight of their core customer base. Have you evaluated how this change will impact your market-dominating position? Will it affect your customer retention or future client acquisition? These are the questions that define a sustainable strategy.
At BESTcorps, our Profit Acceleration Assessment provides a clear strategy and action plan to address the financial and operational impacts of starting, scaling, or selling a business. We help you lead with confidence, not just react to change.
