The Business of Change - and Transition

With change seeming to be the only constant in business and life these days, how to we handle the transition to a new state of being?  To be clear on the definitions, change is an event – the transition is what happens afterwards - and may occur over a short or extended period of time.

Change may be from a number of sources, either business, career or personal - for instance, gaining or losing a key customer, gaining or losing a key employee, legislative changes, changes in consumer behaviour/sentiment, higher or lower currency exchange rates,  gaining or losing a job, personal health changes or relationship changes.  

In recent years, the GFC and its aftermath, the explosion in social media, constant changes in technology and political uncertainty have all been enormous changes which have provided challenges, risks and also opportunities.

Dealing with the transition period, whether personally or for others around you (employees, clients, customers, family) is a perennial challenge.    Transition management can be a bit of an emotional roller coaster – and can be similar to the well known Elisabeth Kubler-Ross grief cycle where loss is involved.  John Fisher has also developed a great depiction of the transition curve to assist in understanding the range of emotions we can experience.  Stress management and resilience is important to maintain perspective and a balanced focus for you/your business.

 A structured approach whereby you revisit your values, personal and business goals and the reality of your situation – whether financial, relationships or otherwise can assist to determine strategies and pathways forward.  Whilst many of these aspects may appear obvious, it is sometimes only when we write them down, either individually or with facilitation, that they become clearer.

Managing a transition can also be very lonely unless you have a support network, which may be friends, peers, business networks, business coaches, health professionals, social media connections or what I’m involved in through The Executive Connection with groups of SME CEOs.

 I have also been privileged to see and participate in the AngBizMix community radio program in Sydney and the associated social media support which I consider is a valuable support resource to the Small Business Community in dealing with these perennial changes.

The value of someone who is not emotionally involved nor has a conflict of interest can be important to provide clarity, possible solutions and a sounding board to assist you with the transition.

And just one when you think you are through one transition, another change event arises and there is another period of transition.  Change is constant - so is transition!