Manage your business through periods of creative destruction — Learn 5 rules of change
If 2020 has taught us anything, it’s that our world is not static.
It is ever changing. The concept of “creative destruction” is ever at play. Such an environment demands that leaders always be thinking forward. And, it means you must embrace change and continually think about how you’ll move your organization through dynamic times.
So, how do you make a step change in your business?
Here are 5 rules of change:
Embrace it and label the needed change. The first step is to embrace change and not fight it. According to Jim Collins, the “Good to Great” author, those companies that embraced change grew. Those that fought it stayed dinosaurs, and eventually their sales eroded.
Explain why and build resonance. Call for the change and galvanize the team. It’s important to enroll your organization and teams and bring them along on the journey. What’s critical in change work is to craft an aspirational story around the change and what it will achieve, along with an explanation as to why the change is needed at this time. Use a story framework like that promoted by Nancy Duarte, going back and forth between “What Is” to “What Could Be.”
Elicit input and plan new norms. You’ll get buy-in if you seek input from your leaders and teams to help shape strategies and make decisions. When people have had a say, they are much more likely to buy in and commit to the new direction. So, get that input and involve your team in creating the plans for what you’ll take on next to embrace the change.
Define and evolve plans. It’s rare that plans go as expected all along the way. And in today’s fast business environment, it’s rare you have all the information you need to make completely solid decisions. So, be prepared to shift and adjust. Make it okay for your teams to learn along the way and course correct as needed.
Express approach and sustain performance. If you haven’t taken this away already, let it be known that communication is critical with change projects. Share with your leaders and teams what the plans are, repeat yourself frequently, and be transparent and keep them up to date when plans change, explaining the why behind the decision. It will take your leadership to maintain progress and keep your organization focused and committed to addressing marketplace changes and/or embedding organizational change.
Now, change isn’t this simple.
But some changes don’t have to be overly cumbersome or hard either. I’ve worked in some places like Clorox that is very well run and deliberate. A change initiative would be thoroughly thought through. The company would be expedient, but take the appropriate, necessary amount of time to implement successfully and soundly. I’ve also worked at start-ups where change was implemented immediately. Shifts in roles and processes communicated and then put into action quickly with adjustments made along the way. To my surprise, the change took, largely because it was supported by leadership, but also because the culture of the organization was one that was more comfortable being agile and flexible. So, know that change initiatives don’t always have to follow a long drawn out process. You can make some needed changes to your organization, processes, and procedures more quickly than you think if you follow the guidance above.
In Summary
The tips can help you frame fast or slower changes and make them more likely to succeed. The most important aspects are to bring people along, be willing to pivot and make adjustments, and communicate all along the way.
//
Want to sign-up for Coordinates, The Agency Oneto’s Newsletter? Join here!
The Agency Oneto is a disciplined yet agile business and brand strategy agency whose mission is to partner with leaders to make a positive impact on their business and brands and for their consumers and teams, unlocking potential.
We do work in Business Strategy, Brand Strategy, Portfolio Strategy, Brand & Product Positioning, Brand Architecture, Marketing Strategy, Content Strategy, Innovation Strategy & Process, Consumer Insights, and Trend Studies.
We also lead workshops and facilitate strategy and business planning sessions, provide advisory services, and offer Executive Coaching.