Change For The Sake of Change – Is It The Right Formula?

For some, change is very difficult, whereas for others change is like a medication they must take every day. Typically we tend to resist change because it takes us out of our comfort zone, but how do we know when and what changes we should make in our crossword puzzle to be successful. Read More

I was one of those people that hated change. Every time I had things just where I wanted them, someone wanted me to change it. Consequently, I learned at a very young age in my career that I better learn to embrace change or I would be out of a job. It saddens me to be reminded of how many good, intelligent people were lost to the industry due to their unwillingness to change and adapt to a new direction.

For you golf junkies, you may have heard an editorial by Brandel Chamblee, after the PGA Championship last weekend on the Golf Channel, where he talked about the changes Tiger Woods has gone through during his career. Three different coaches, four major changes to his golf swing, and most recently a change in a 15 year relationship with one of the best caddies in the business.

One must ask the question: "why would he make all these changes when he is the best golfer in the world?" As Chamblee put it, "Tiger is addicted to change and must believe it is his road map to perfection." Chamblee said "it is like going out to your garage and dismantling your car and then trying to put it back together with the lights out." In my opinion, the problem is that his ego has lead him to think he can perfect the game, which is contrary to the essence of golf. The attraction to golf is you can never perfect the game and that is why we keep playing.

So what does this have to do with business? Change is a double edge sword. Change for the sake of change can spell disaster in business just like it has done to Tiger. On the other hand, an unwillingness to embrace change can also be a profit killer.

Business people who bury their heads in the sand assuming things will get better with time are just inviting disaster. On the other hand, those who make changes to their business without proper analysis are also buying a one way ticket in the wrong direction.

The key to making effective changes to your business is the depth of your knowledge. I am not talking about your IQ, rather the depth of the information you have gathered before making a decision. This is true of everything we do in life. Intelligence is based on facts and the more information you gather the better chance you will have to make a good and valuable decision.

A case in point is when I do a consultation with a dealer, I ask the owner what he or she thinks is the problem area in their business. Their answer is based on their valuable experience of operating the dealership for many years. However, after completing a performance analysis on their financial statements, it invariably turns out to be something entirely different, or a combination of factors that is hurting their profit.

crosswordThe moral of the story is that your business is a complex set of operating equations, like the pieces of a word puzzle. The only way you can successfully put the pieces of the puzzle together is through an analysis of these operating equations. In other words, to make effective changes you need the knowledge of where your business has been, its current status and a plan on where to take it.

Tip the scales in your favour and prepare a financial analysis before you make those important decisions. Need help? Call me for a free consultation and we will get you on the right path to profitability.

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  1. peterseo

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