How to manage personal and business change

Last night Pavlo and Bruce chatted about how to get better at dealing with change. Changes are happening at an alarming rate in SA. Business owners are now expected to make so many decisions and so fast. Often these decisions are not made since the environment is too demanding, the changes too sudden and there are too many variables all in play.

Entrepreneurs have to become “change fit” to outlast the road you have to run that will eventually build your business into the Asset that you want.  

How do you manage both yourself and your business within an ever-changing environment?

Personal Mastery

1. Look for it

Be present and watch the levers of change. Ask what this means for you? Be sure to look at both positive and negative impacts. This allows you to think, plan, consider and have options when change comes.

2. Don’t be alone

Whatever it is, someone has been through it or knows someone who has. On your own, you get stuck in your head and it’s impossible to see things differently after a while.

3. Be future forward in thinking

Focus your energy towards the things that you can control rather than what was

4. Be chilled

You will make mistakes in dealing with change. You will say things that you regret. You will realise that in hindsight… Be chilled with the fact that you will make these mistakes and that retrospectively, there would have been better options that the ones you took.

5. Always be a big thinker 

You have to anchor your thinking and actions into the future towards something.

6. Be positive

Acknowledge that this is simply a challenge and seek to find interesting, novel ways around it. The language you use matters enormously and the view you have of yourself matters equally.

 

Business Mastery

1. Build a customer facing business

This is a business that solves a problem for a group of customers who have that same problem

2. Build a simple business

Don’t try be everything to everybody

This is a business that is designed to solve problem

3. Build a system driven business

Systems control the customer experience. If this is the experience the customer wants to solve their problem. Your business will be supported by your customers as and when you have to change. They will lend you a kind ear.

4. Involve your core team

A business is made up of functions. Good systems delivering the function means you will have people who can operate the systems and deliver the function. Team leaders allow then for a layer of supervision. These supervision or management levels form your core team.

Change means a response from these areas of the business. Get the problems and challenges solved at that level.

This enables ownership, ownership enables action, action enables a response to change.

5. Generate data

Allows you to remove emotion and think rationally

 

Listen to the full podcast here

Play to your strengths – how the epic Mayweather-McGregor fight can take your business to the next level
The Money Show Growing business value Building your Business Growing

Play to your strengths – how the epic Mayweather-McGregor fight can take your business to the next level

Undefeated welterweight world champion Floyd Mayweather Jnr met mixed martial arts world champion Conor McGregor in Las Vegas...

Read more

Part 2: How to protect your growing business from big business theft
In the News The Money Show Business Development Building your Business Positioning your Business

Part 2: How to protect your growing business from big business theft

The tender trap   After the launch of the BLSA, and the commitments made by big business to entrepreneurs, it sparked...

Read more

Part 1: Big business commitments to small business with the launch of the BLSA
Business Opportunities The Money Show Building your Business Inspiration

Part 1: Big business commitments to small business with the launch of the BLSA

I attended the launch of Business Leadership South Africa (BLSA) – which is headed by former Shell CEO Bonang Mohale – last...

Read more

ANN7 sale should have entrepreneurs asking themselves what their business is worth
AoV Mindset The Money Show Sales Business Exit

ANN7 sale should have entrepreneurs asking themselves what their business is worth

On Monday, 21 August, we spoke to Bruce Whitfield on The Money Show on Radio 702 and Cape Talk of that day’s R450 million...

Read more

Shining a light on the business blind spot
The Money Show Family Business Succession Next Generation

Shining a light on the business blind spot

Smart and successful businessmen have faith in their vision for their companies, but they need to be aware of their limitations...

Read more

How to Turn a Struggling Business Around
Case Studies In the News Strategy Business Strategy Turnaround

How to Turn a Struggling Business Around

By Pavlo Phitidis  Turning a struggling business around isn’t easy, but it’s not impossible. Currently, many businesses...

Read more

How changing the way you look at customers creates the opportunity to build a scalable business
Business Opportunities Growing business value Asset of Value Lead generation Generating Leads Accelerating Growth Customer Acquisition Business Strategy

How changing the way you look at customers creates the opportunity to build a scalable business

By Pavlo Phitidis Ultimately, the way you look at the world is the way that the world will turn out to be for you. Just...

Read more

Building or breaking your brand and company value through reputation
Case Studies AoV Mindset The Money Show Building your Business Positioning your Business Brand

Building or breaking your brand and company value through reputation

By Pavlo Phitidis Over the past few weeks, we’ve been shocked by the news, as McKinsey, SAP, KPMG, Bell Pottinger and so...

Read more

How to choose the right business partners
AoV Mindset Shareholders Acquisition Opportunities People Problems

How to choose the right business partners

By Pavlo Phitidis Spats between shareholders can signal the beginning of your business’ end, just as it seems to have been...

Read more

Insights from Amazon's acquisition of Whole Foods to build our own businesses
Asset of Value Building your Business Strategy Scaling Digitisation

Insights from Amazon's acquisition of Whole Foods to build our own businesses

By Pavlo Phitidis   Online digital retailer, Amazon spent $13. 7 billion to buy 401 brick-and-mortar Wholefoods grocery...

Read more

 Adapt to changing customer behaviour or die
Case Studies Business Opportunities Business Development Strategy Positioning your Business Business Survival

Adapt to changing customer behaviour or die

By Pavlo Phitidis A 159-year old icon of retail in South Africa closes shop on 01 August. Failing to evolve in a changing...

Read more

Building a positive frame of mind and action in a negative environment
AoV Mindset Building your Business Strategy Personal Development Inspiration

Building a positive frame of mind and action in a negative environment

By Pavlo Phitidis We live in unstable times, and a brief look at the news headlines is almost always disheartening. Constant...

Read more

 How not taking action at the right time can lead your business to failure
AoV Mindset Building your Business Family Business Business Survival Personal Development

How not taking action at the right time can lead your business to failure

By Pavlo Phitidis Your appetite for action, or tendency towards inaction, will save or sink your business. This week, on...

Read more

Business trends from New York and London 2017
Business Opportunities In the News Strategy Business Survival Innovation

Business trends from New York and London 2017

By Pavlo Phitidis Take five days in New York, and five days in London, add in thirty-one meetings and, what do you get?...

Read more

HOW DO YOU MEASURE AN ASSET OF VALUE - A QUICK PODCAST EPISODE 1
Growing business value Asset of Value Company Valuation Podcast

HOW DO YOU MEASURE AN ASSET OF VALUE - A QUICK PODCAST EPISODE 1

By Pavlo Phitidis Time stretched, on-the-go and always doing too many things at once can make us forget why we, as business...

Read more

How do you measure an Asset of Value - A quick podcast Episode 2
Growing business value Asset of Value Company Valuation Podcast

How do you measure an Asset of Value - A quick podcast Episode 2

By Pavlo Phitidis Time stretched, on-the-go and always doing too many things at once can make us forget why we, as business...

Read more

What is an Asset of Value - a quick Podcast Episode 1

What is an Asset of Value - a quick Podcast Episode 1

By Pavlo Phitidis Time stretched, on-the-go and always doing too many things at once can make us forget why we, as business...

Read more

How to get the right employees to build your business into an Asset of Value
AoV Mindset Asset of Value Building your Business Scaling Team Building Employing people Accelerating Growth Next level thinking

How to get the right employees to build your business into an Asset of Value

By Pavlo Phitidis Tough economic times mean that unemployment is rife. But, as a growing business owner, you’ve noticed...

Read more

Fighting qualities that build great businesses
Asset of Value Business Development Building your Business Strategy Personal Development

Fighting qualities that build great businesses

By Pavlo Phitidis For entrepreneurs, adopting the art of fighting is imperative, because building a business is a fight....

Read more

Selecting & securing profitable customers
Asset of Value Sales Strategy Positioning your Business

Selecting & securing profitable customers

By Pavlo Phitidis Knowing how to focus your sales efforts on the most profitable customers can accelerate the growth of...

Read more

Building a business to survive and thrive in a Junk Status economy
Growing business value Asset of Value Business Development Positioning your Business Business Survival

Building a business to survive and thrive in a Junk Status economy

By Pavlo Phitidis The recent downgrade of South Africa’s credit rating to Junk Status will have a dramatic effect on our...

Read more

Pitching your business successfully to any audience
Asset of Value Strategy Focus Team Building

Pitching your business successfully to any audience

By Pavlo Phitidis Any business owner, anytime and always has learnt that you have to constantly be pitching your business....

Read more

Building and Implementing a Succession Plan for Family Businesses
Asset of Value Family Business Succession Next Generation Business Exit

Building and Implementing a Succession Plan for Family Businesses

By Pavlo Phitidis Building a family business, and passing it down as both a legacy and an asset, is seldom achieved. A mere...

Read more

Spotting the gap, simplifying the experience, scaling for success
AoV Mindset Scaling Simplicity Start Up

Spotting the gap, simplifying the experience, scaling for success

There are gaps all around us in terms of how we live, work and play and where there's a gap, there is a business to be built.

Read more