“Change is inevitable in a progressive society. Change is constant.”- Benjamin Disraeli

Can we afford not to invest in business development and into personal development? Can we be pleased with ourselves and sit comfortably doing familiar things and watch the world rotating? I am not sure if anybody does that.

Kodak and Blockbuster knew it was time to change.

You heard examples of Kodak and Blockbuster. They did implement changes, though they were not fast enough or visionary enough. They were entrepreneurial for a period of time, and being at the top of the game they had a very comfortable cushion to lean on.

Kodak was so successful for years and did not fail because of the digital age. It was actually an engineer at Kodak, Steve Sasson, who invented the first digital camera in 1975. Kodak failed to adapt to a new market place and new customer attitudes. The problem was that it made most of its money on developing film, a business that completely disappeared.

Blockbuster was not eaten by Netflix. They were planning to move to the digital world, but failed to implement the right strategy.

Reality is complicated, messy, and tricky if you are not prepared.

Former GE CEO Jack Welch once remarked, “If the rate of change on the outside exceeds the rate of change on the inside, the end is near.” People resist change for different reasons – fear of the unknown, fear of making mistakes, fear of failure. If you were adventurous and risk-taking at the beginning of your business journey, why stop when you are becoming more successful?

The most effective way to manage change successfully is to create it.

It is the job of a leader to inspire their teams to search, to explore and to be daring to introduce change. A leader in a modern business world is required to have skills, tools, and techniques to carry a team through those changes.

What is crucial for a Leader ahead of the change game?

1. Keeping the vision with clarity to all team members;
2. Cultivate team culture to be responsive to change;
3. Communicate clearly through all stages of change;
4. Enlighten team members about the implications of the status quo.
5. Show them small gains during the change process and benefits once the change is implemented.

Change requires a new mindset, toolset, and skillset. Thus, everyone must change with the changing scenario to grow personally, professionally, and socially.

Change is the way of life!

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