Posted by

Deb Neuman Deb Neuman
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
edge contributor


Back to Biz - The only thing we can count on is - change!

Rate this item
(0 votes)

Change is inevitable. This is true in our personal and our business lives. If you want to own a small business and fear change, being in business for yourself might not be a good option for you. If you love the challenges and opportunities associated with change, then owning your own business may be the way to go.

I have met businesses that have survived and thrived through change and businesses that have crashed and burned. These changes may include losing a key customer or employee, rising costs and slowing sales among other things. Some businesses go out of business not because the business is in trouble, but because the owner is. This is often health related and truly unfortunate.

Change happens. It is inevitable. It can create new opportunities if we are responsive to it and make the necessary adjustments before it's too late. Here are ways you can deal with change and stay in business.

Be innovative and ahead of the curve.

Businesses who last for the long term are constantly seeking new opportunities. They recognize, adapt and adjust their business model to market changes.

Don't have all your eggs in one basket.

What would happen if you lost a key customer? Diversification is key to success and survival. Diversify your products/services and your customer base.

Train others to do your job.

You are only human. If you are the key person in your business, train others to do your job in the event you become ill, injured or just need a vacation!

Ask for help before it's too late.

Don't be too proud or stubborn to ask for help if your business is in trouble. There may be solutions, but too often when it's your business you are too close to it to see what options might work. Reach out for help before it's too late to recover!

Change can be great for your business as it can open doors to new opportunities that can lead to growth. The key to surviving change is to be aware of it, be ahead of it and adapt!

Last modified on Monday, 12 December 2011 11:14


The Maine Edge. All rights reserved. Privacy policy. Terms & Conditions.

Website CMS and Development by Links Online Marketing, LLC, Bangor Maine