How to Embrace Change When Change Appears Difficult

Going to the bank
How to Aid Growth Using the Little Known but Almighty Growth Gap
April 9, 2021
Success Mindset

How to Embrace Change When Change Appears Difficult

Change! This single word can cause excitement and strike fear in a person all at the same time. Why is it at times we embrace change and other times we dread change? It is not because of “how we are wired;” otherwise, no one would get married, have children, start a business, or better yet, be able to grow a business.

 

There is an endless supply of research, books, and trainings to help us implement change and how to make change take hold so we don’t regress back to the way things were. With all these resources, why is change so difficult? Is change really that difficult? Based on research done by Dr. Chris Mason, of Mindshop, only 30% of all attempts at implementing change are successful. I ask again, is change difficult? The answer is no, not if you are prepared for it. The great question is how do you prepare for change? You begin by improving the odds of successfully implementing change. at least shore up, the amount needed to finance the growth?  After all, one of the worst things to happen is for a business needing to return to the bank twice or even three times because the estimated amount of funding needed was wrong.  Good news! There is an easy process. It starts with what are called common size financial statements. These are your current financial statements restated as a percentage. Applying a twist to how your common size financial statements are restated, you can calculate your growth gap.

Why does change fail?

Change Success

People don’t hate change or resist change simply because it is a new idea. Change fails because they are lacking in one of three components of change success. Those three components, according to Dr. Mason are readiness, capabilities, and beliefs of the organization/individual as it relates to the change.

Each component is further divided into subcomponents as follows:

  • Readiness – Leadership Support, Need for Change, How will it Benefit the Organization/Individual, Change Process, Confidence
  • Capabilities (of) – People, Organizational
  • Beliefs – Perceived Difficulty, Attitude, Significant Others

You might have noticed; good intentions are not one of the ten subcomponents. In fact, good intentions only make up .04% (yes, point zero four) of change success.

The ability to implement change successfully is not reliant on people. It is reliant on their situation. To improve the odds of successfully implementing change, first you must improve the situation.

Take the next step.

Gain a better understanding of where you and your organization stand. Implementing change isn’t easy, but you can get a clearer picture on the odds of successfully implementing change by completing our change diagnostic. For an added bonus, it takes less than 10 minutes to complete! To get the best results, we recommend all key personnel complete the organization link and everyone who is involved in the change, complete the individual link. 

The results you’ll immediately receive include your score for overall change potential, the three main components, ten subcomponents, and the gap hindering you from change success. This gap identifies which of the ten subcomponents you need to improve to increase the odds of implementing successful change.

If your business is in need of solutions, please contact us at (605) 388-2477 or fill out a contact form and we will reach out to you shortly.

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