Leadership: When is it time for a change
You have taken the time to build something from the ground up, whether it’s your company or even a specific project that you have spent months on. You have formed every painstaking detail. And it’s just not working. Do you go for the big change? Or do you stick it out? Well, the answer to that question is both simple and complex. The simple version is, “it depends.” The complex version is, well… complex. There are many deciding factors in answering this question.
How many times have you sat through a team meeting where the boss was so excited about a new direction for the company that they just had to tell you and begin implementing before they even thought it through? And how many “pivot presentations” have you had to sit through with an overly thought out PowerPoint showcasing a new overall focus for the company… The third in the past month.
Change is inevitable in business. Customer needs and wants shift, and new competition will continuously push the boundaries of what you have created. However, change doesn’t have to be catastrophic, and it doesn’t have to set your team back.
The first thing you need to do is determine if a change is actually needed. If you are shifting focus constantly, you never really give your strategy a chance to develop, and you will likely lose the confidence of your team along the way.
Here are a few tips to help determine if a change will do you good… or bad.
#1 Missing a connection or a spark
Day to day operations is running like a well-oiled machine, which is great, but it is running so well, that it is void of personality, and in spite of output, you just aren’t connecting with your audience like you used to.
#2 Loss of purpose and passion
You have been slogging at it for a while now, and it’s become more about profit than the business. You are unhappy, and aren’t satisfied with anything that the business is doing. You’ve forgotten hat is your light at the end of the tunnel because you can no longer see that light.
#3 Your team feels undervalued
It’s great if your team works hard for you, but after a while, you stop caring about how the work gets done and more that it is just done. Your expectations are that your team should be putting in the long hours even though you don’t pay them very well, you always take the credit for the work they put out, and you really don’t care that they see you leave every day at 4.
#4 Business has plateaued and there is nowhere for the brand to grow
You know there is something bigger for the brand, but you just can’t get there with the current business model, whether it’s an audience that is too narrow, a stale product line, or you are limited by geography.
#5 You keep bringing up the good old days when the company was thriving and exciting
There is nothing wrong with celebrating where you have come from, but when that is the sole focus of your discussion because you can’t think of anything great to say about business now, then there is an issue.
#6 You are constantly lying about the status of your company or project to make it sound better
Every business owner or project manager will inevitably get the question “how’s business?” or “how’s the project going?” If you find that you are embellishing to make yourself look better constantly, you may have an issue.
#7 The team has no idea there even is a mission statement
When you build a business from the ground up, it’s important to know what you stand for. Along the way, it’s easy to forget some of the important things, or perhaps your new team members weren’t told.
#8 You feel you are settling
You know there is something better in store for the company or the project, but you either don’t know how to get there, what it is, or if it’s even possible, so you ignore the feeling. Ignoring that type of thing will only perpetuate the cycle.
Next week we'll talk about how to approach change once you decide you need it. But for now, we'll leave you with this.