Why Every CEO Should Think Like A Small Business Owner
Organisational change is never easy—especially for larger companies—but it’s also never been more necessary. We live in an age of disruption, where unforeseen technological advances can transform entire industries. Who could have predicted digital sharing companies, wearable technology or self-driving cars? Yet, it’s not impossible for leaders to successfully steer their businesses through change. Businesses that adapt to change often go on to thrive. To do this, however, these four steps are key:
Think like a small business
Smaller businesses are often better able to cope with change simply because they’re capable of being nimble. However, larger businesses can mimic that mindset. For example, don’t be quick to say “no” to new ideas. And make sure your leadership and employees remain open to change; to rethinking your processes on a regular basis; to creating new structures when necessary.
Don’t be afraid to fail (and learn)
Don’t be afraid to fail. Create a safe space within your business for fresh ideas, where you can continuously try out game changers and learn from any mistakes.
Be transparent with employees
It’s important to have, a road map outlining the changes your business needs to make and the steps that will get you there. Once that vision is in place, be sure to share it with your employees at all levels. Create a sense of urgency around the change by explaining why it’s necessary and the steps the business will take to make sure it’s implemented in a timely, efficient manner.
Employ the right people
Look for staff with an entrepreneurial mindset’ who have created change in their schools and workplaces. If everyone in your business believes change is fun, it will be.
Change can be frightening, especially in today’s business world. Businesses not only have to monitor their competitors, but also keep an eye on start-ups outside their industry. However, if you’re ready for change — even better, if you create the change yourself — you’ll be well positioned to adapt and thrive, no matter what may happen.