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

Build Your Business with these 5 Habits
AoV Mindset The Money Show Asset of Value Building your Business

Build Your Business with these 5 Habits

Welcome to 2018! A whole year ahead, to plan, implement, and prosper. I hope you had a great break, and were able to gain...

Read more

What Entrepreneurial Opportunities Await in 2018?
In the News The Money Show Growing Strategy

What Entrepreneurial Opportunities Await in 2018?

The tumultuous events of 2017 have already shaped the entrepreneurial opportunities for 2018. The innovators respond first,...

Read more

Start your Strategic Planning for 2018
The Money Show Growing business value Business Strategy Business Growth Strategic Planning

Start your Strategic Planning for 2018

2017 has been a rough year, for everyone. At every level, corruption has put paid to so much, and the dismal economic growth...

Read more

How to write the right kind of business plan
Business Opportunities The Money Show Business Systems Business Growth Business Plan

How to write the right kind of business plan

I’ve recently read through oodles of business plans, with a sample of ten showing me that: 4 were applying for growth funding;...

Read more

A Succession Planning Strategy for Your Business
The Money Show Succession Business Exit Business Succession

A Succession Planning Strategy for Your Business

The resignation of Robert Mugabe and the current race for power within the ANC have highlighted the importance of succession...

Read more

Critical strategies to future-proof your business
Growing business value Business Development Growing Focus Business Growth

Critical strategies to future-proof your business

Even for established businesses, it’s not easy to make sure that you will be ready for whatever might happen in the future....

Read more

How to start a business (or your career) from nothing
The Money Show Creating Time Growing Goals

How to start a business (or your career) from nothing

My recent meetings with people across the country have revealed that we have so much human potential, and yet such low morale....

Read more

Learning Resilience, to Build your Business during Tough Times
The Money Show Growing business value Building your Business Growing Accelerating Growth

Learning Resilience, to Build your Business during Tough Times

Simply reading the news headlines can be downright distressing, and government’s lack of adequate response towards corruption...

Read more

How to build your Business into an Asset of Value that is ripe for selling
Growing business value Asset of Value Sales Accelerating Growth

How to build your Business into an Asset of Value that is ripe for selling

Every business owner should be concerned about whether they will be able to sell their business for a good return when they’re...

Read more

What to do when you’ve made the wrong investment for business growth
In the News The Money Show Growing Strategy Accelerating Growth

What to do when you’ve made the wrong investment for business growth

Earlier this week, the South African Minister of Finance presented the Medium-term Budget, and the news was somewhat disheartening....

Read more

Get with the Aurik programme to ensure company growth
Growing business value Business Development Building your Business Company growth

Get with the Aurik programme to ensure company growth

Business owners are bracing themselves for tough economic times with SA’s downgrade to junk status and a gradual economic...

Read more

From a small family-owned business to an internationally recognised operation
Case Studies Business Development Family Business

From a small family-owned business to an internationally recognised operation

How did Liquid Movers quadruple their baseline turnover? The family-owned business joined the Aurik programme to grow its...

Read more

Delegate, you must: if you want to sell your business one day
Asset of Value Sales Business Exit

Delegate, you must: if you want to sell your business one day

Despite what you may think or feel, doing it on your own won’t set you on a pathway to success. You can’t build a business...

Read more

Building successful and sustainable innovative technology businesses
In the News Growing business value Asset of Value Positioning your Business

Building successful and sustainable innovative technology businesses

Aurik CEO and co-founder Pavlo Phitidis was the keynote speaker at the Innovation Bridge event in Midrand recently. With...

Read more

Think big with an Asset of Value framework
AoV Mindset Growing business value Asset of Value

Think big with an Asset of Value framework

Thinking and building big right from the start with an Asset of Value framework, enabled Atomic Oil to achieve a R60m valuation...

Read more

Business Is a Bloody Sport: Why Risk Management is Important
The Money Show Business Survival Accelerating Growth

Business Is a Bloody Sport: Why Risk Management is Important

In 2008, determined entrepreneur, Karabo Songo, established Olive Communications. I first met Karabo during the 2013 Business...

Read more

Spend more time on your business and less time in it with improved business systems
Growing business value Business Systems

Spend more time on your business and less time in it with improved business systems

We have seen a common theme emerging in our recent meetings with various entrepreneurs. As a business owner, you might be...

Read more

How effective business systems can ready your business for sale
Growing business value Growing Business Systems Business Exit Exit strategy

How effective business systems can ready your business for sale

People sell their businesses for many reasons. Fatigue from too many years in the game is one of the most common. They might...

Read more

The Asset of Value Strategy Series
AoV Mindset Pricing Growing business value Asset of Value Building your Business Finding Customers Strategy Employing people

The Asset of Value Strategy Series

Welcome to the Asset of Value Series. As part of the Nedbank Business Accelerator Campaign with 702 this year, our CEO Pavlo...

Read more

Assessing Franchise Opportunities
Business Opportunities The Money Show Growing business value Asset of Value Business Development Accelerating Growth

Assessing Franchise Opportunities

Building your business into an asset of value may include expanding through franchise opportunities. This week, on The Money...

Read more

A Business Strategy to Turn a Dreadful Year into a Success
Growing Strategy Accelerating Growth Business Strategy

A Business Strategy to Turn a Dreadful Year into a Success

This year has been tough for everyone, and there are just 12 weeks left before world of business winds up for 2017. There...

Read more

How to avoid a horror story when buying software for your business
Growing business value Asset of Value Business Development Building your Business

How to avoid a horror story when buying software for your business

Technology is both a driver and frustration for every person and business. Every business no matter what business you are...

Read more

Grow your ideas with business innovation
Growing business value Asset of Value Growing

Grow your ideas with business innovation

South Africa is lagging behind when it comes to innovation, according to a recent World Bank report. But why is innovation...

Read more

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