Legendary Business Turnarounds

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Legendary Business Turnarounds

Legendary Business Turnarounds

Change is inevitable and yet the thought of it scares most of us! The thing is that when you know what is happening and you are in a routine, it’s easy to predict what will happen. When something changes - even a small thing - it takes some time for you to get used to the new normal.

In business, change can be positive or negative but, either way, it needs to be dealt with. Understanding how to approach change as a team and embrace new challenges is key to your success as a company. Many businesses have had incredible success after inauspicious starts and show that a small change is often all that is required to turn things around.

Preparing For Change

Given that change is inevitable, preparing yourself is a good idea. Clarifying potential changes as a team before making forecasts for the future year is a good way to prepare yourselves. Knowing what could happen gives you the chance to decide whether it should happen and how to manage the change.

Learning to Embrace Change

Change can panic people and if you have a pessimist in your team you will need to manage expectations. This means that managers need to be honest with their teams, but the team should also be supportive amongst themselves. Remaining open to new possibilities will make it easier to figure out how you are all going to manage the change together.

One Step at a Time

Coping with a lot of changes at once is naturally stressful, but if you can try to take things more slowly then you should. Creating a step by step plan is a good idea, as this will act as a guide to your big change destination. Plus, having a plan will also highlight where you need to learn new skills or develop ideas for the transition.

Change might be uncomfortable, but it doesn’t have to be a time of extreme stress. With a bit of planning and a few tips, you and your team will be back to a new normal in no time at all.

Have a look at our infographic for more in-depth advice and 3 legendary business turnarounds.

Legendary Business Turnarounds

Who are STL?

Links:
https://www.entrepreneur.com/slideshow/225890
http://uk.businessinsider.com/steve-jobs-apple-fired-returned-2017-7
https://www.forbes.com/2010/02/01/peter-cuneo-marvel-leadership-managing-turnaround.html#10355e476fa1
https://money.cnn.com/2016/01/13/investing/general-motors-outlook-turnaround/index.html
https://en.wikipedia.org/wiki/Lee_lacocca
http://www.clomedia.com/2012/12/17/top-10-leadership-soft-skills/

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