NFIB

Dealing With Change
10/ 30/ 2002

by Vicki Gerson

In order to increase your bottom line, change is important. Change helps your company grow, whether by hiring more employees, adding new products or services or expanding to more than one location. However, any change should be carefully thought out. Analyze the pros and cons of each change you are considering, including the expense.

A business owner should not be frightened of changing the products he or she sells, the way advertising or marketing is done or even changing locations. Change is a positive step. But what to change?

Carefully look at your company. Try to look at it as if you are an outsider. If you feel that you can't look objectively, hire someone who can. Are you using the latest technology to benefit your business? Up-to-date technology can help your sales force be more efficient and sell more, reduce customer complaints, make sure invoices are sent out on time, keep track of which customers are not paying their bills, store records more accurately and help your business run overall more efficiently.

Consider your marketing techniques. If your business has always used flyers and catalogs to advertise your company's products and your main competitor starts running ads on cable television, this doesn't necessarily mean you should do the same thing. But you may want to update your current marketing strategies. You could redesign you flyers or send catalogs more frequently.

Get feedback from your employees. They may see areas of your business that could be improved that you havenÆt considered. You donÆt have to follow up on every suggestion, but simply asking your employees for input will make them feel valued. When making alterations to your business, keep the employees in the loop. Send out a memo describing what changes will occur, and why you are making them.

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