Business Change As A Vital Step For Business Progress

The ups and downs, uncertainties and fears from the previous year had transformed many business structures and operations. But this also triggered innate characteristics of business people such as resourcefulness and resilience.
Small to Medium Enterprises (SME) are slowly recovering from the negative impact brought by the pandemic to the world. We can say that we are now in “business as usual” as our business spirit continues to protect our business operations. The ups and downs, uncertainties and fears from the previous year had transformed many business structures and operations. But this also triggered innate characteristics of business people such as resourcefulness and resilience. In an article by Hill (2021)[2], small businesses report that they are slowly recovering as the world’s economy becomes better. New knowledge and skills are needed to enhance the business spirit and survive our current situation. And there are also business practices and habits that should be changed in order to continue the business improvement.

Business Change as Triggers for Bigger Things

Changes are inevitable and sometimes, they are needed to push us against our limits. Yes. That is true!

Just like the business changes that resulted from the pandemic, small to medium enterprises (SME) that previously didn’t use social media are now diving into the digital world. Companies had adapted the work from home set up. Logistics and deliveries are booming.

Small businesses learn to change something during this pandemic time. And because of those changes, they are continuing to survive.

DDDC is a small enterprise that gives importance to changes that can lead to one’s improvement and transformation.

What are the business changes needed to have business progress?

Business change is like a platform that starts the road to accomplishing our goals. We all want this kind of change for the growth of our business. But just like the road of life, this one is rough, uneven and full of challenges.

Old business practices and habits are some of the things that make business change hard. Many people say that these are difficult to change. But it is not impossible to achieve.

Here are some of the business practices that can hinder your business change.

  1. Staying in the comfort zone

We all understand that taking risks, especially during this time, can be disturbing and unsettling. Going out of your comfort zone starts from the moment you think of starting your business. Nothing can be accomplished until you take the first step and leap. There are many business stories like Bill Gates and Steve Jobs that are successful because they went out of their comfort zone.

As mentioned by Harmon (2020)[1], a life development enthusiast, being in your comfort zone means you know that you are safe. You know the routines and you know the outcomes. You take it easy and because of that you don’t learn new things. You don’t gain new skills. Remember, we only gain new experiences and new strength when we face new challenges.

This may be a difficult time now, but it is still important to keep your business spirit alive to achieve greater things for your business. (Read related article here: https://dddc.com.au/keeping-your-business-spirit-alive.)

  1. Thinking negatively

Nothing good comes out when thinking of negative things. Focusing mainly on negative thoughts can lead to depression and lack of motivation. The pandemic had given business owners heartbreaking situations and hard challenges. Just imagine if they will only focus on the negative things that happened? There will be no chance for innovation and creativity in business industries.

  1. Not asking questions

We are all human and we do not know everything. There is no harm in asking questions and letting others teach you. Many businesses are connected and being prideful will not help a business succeed.

If you are not sure what business changes to make, what business practices to improve, you can always ask for help from those who are experts in these fields. Being know-it-all can lead to self-destruction and can cause your business to fail.

  1. Making excuses

Running a business is not always smooth sailing. There are good times and tough times. And what differs them is the attitude we deliver when facing these kinds of situations. Of course, we celebrate when we achieve our targets. But do we make excuses when we are faced with difficult times?

Excuses are a huge obstacle that hinders a business change. Unwillingness to change and not accepting accountabilities are some of the reasons why people make excuses. And these excuses lead to poor business results. So better stop making excuses and start taking actions.

  1. Failure in planning ahead

There is a saying by Benjamin Franklin that quotes, “If you fail to plan, you plan to fail.” If business owners do not take this to heart, then this can cost them their business. Having a detailed plan means that you also set your business goals. And if you have goals, then it is easier for you to visualize what changes are needed for your business progress.

Make sure the plan is composed of achievable goals and the best of intentions as business plans don’t always work well in the real world. The road should have realistic objectives and attainable targets.

  1. Poor handling of expenses

Not making a budget and not paying attention to small expenses leads to financial problems. And this hinders the changes that you want to do for your business. Keep in mind that all expenses, big and small, affect your business cash flow.

So, tracking your money is vital in keeping your business on track. Keep a budget and make sure you manage and adjust your expenses based on your business status.

  1. Postponing changes

When you see that a change in your business is a must, then do it. Do not make excuses. Do not just stay in your comfort zone. But of course, business changes must be put to action after careful planning and research.

The current situation of businesses required them to do in-depth planning and comprehensive market research. The pandemic pushed them to make changes to cope with the health protocols and they did.

This is a great step in starting your business progress rather than just doing nothing at all.

Sources:

[1] Rampton, J. 20 Habits That Prevent You From Being a Millionaire. Entrepreneur. 

[2] Hill, C. (2021, May 3). Pandemic Brought Challenges, But Small Business Spirit Still Thriving, TD Bank Survey Shows. Yahoo! Finance.

[3] Harmon, J. (2020, December 1). 6 Reasons Why Your Comfort Zone Is Holding You Back In Life. Lifehack. 

[4] Hedley, G. (2020, May 20). Stop Making Excuses for Poor Business Results. For Construction Pros.

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