Accelerating Your Business Transition
Every business is working on something to improve these days. Whether it’s trying to be more proficient at what they’re currently doing or being in a pivot stage while making the transition to new markets and products. The senior team spends hours huddled in meetings mapping out the new plan. The department managers are then tasked with carrying out the new marching orders. Sounds reasonable on the surface, but how is it working? Are you getting the results you need, and expect?
The Initial challenge most business owners face is carving out time between working in the business, and working on the business. This goes double for your managers. There’s no silver bullet here, other than the fact that if you are truly committed to changing the trajectory of your business, you need to make time to work on it. That may mean taking a hard look at the other things on your calendar and determining that they can wait, or be ignored completely.
Fight to avoid the, “all we do is talk about it but we don’t get anything done syndrome.” I see this often in organizations that are trying to add the structure and accountability needed to tackle these initiatives, but are not quite there yet.
Don’t try to take on too much all at once. We are all great at making lists of initiatives and action items that need to take place. The challenge is that the list is so large that it is hard to prioritize, assign ownership, milestones, and timelines. If your organization isn’t realizing the changes fast enough, perhaps shortening the to-do list is a good place to start. Get some wins and create a momentum of change. This will create a positive buzz throughout the company and help to get people on board with the concept of change.
If you’re happy with the pace of change within your organization, congratulations. If you’re looking for new ideas on how to accelerate your transition, start with the people that you trust. Reach out to members of your peer group to see how they transitioned their business. Ask your professional network if they know of other manufacturers in your area that have gone through similar transitions, so that you can learn from their journey. Finally, touch base with your trusted suppliers as they know of others that have made changes to their business, in the same manner that you’re trying to make with yours. You don’t have to go it alone.
Take the time to align your business transition with the core values and mission of the business. Remember, you are dealing with the livelihoods of your team, as well as the success rate of your business. If you have tackled these issues recently, let us know how things turned out. If you want to get started down this path, let me know. Good luck.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at email@example.com.
Mike Philie leverages his 28 years of direct industry experience in sales, sales management and executive leadership to share what’s working for companies today and how to safely transform your business. Since 2007, he has been providing consulting services to privately held printing and mailing companies across North America.
Mike provides strategy and insight to owners and CEOs in the graphic communications industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion, and helping leaders navigate change through a common sense and practical approach.