Is Your Business Prepared For Change?

There is one thing that I am absolutely, positively sure of in both business and in life. Things will change. If the economy is booming, sooner or later there will be a recession. If it is raining, the rain will eventually stop and the sun will shine. If all of my equipment is running perfectly, some piece of equipment will eventually break down and need repair. If lapels on coats are wide, the style will eventually change and they will get narrow.

The question is ........ "Is your business prepared for change?" No one knows when the change will occur, but we all know that change WILL occur.

Most businesses do not take full advantage of up-turns in the economy or any good opportunity because they are not prepared for them. Likewise, they are hurt more than necessary by a down-turn or other bad situation because they are not prepared.

Here are some questions that will help you determine if you are prepared.

• Your biggest competitor tells you he is in financial trouble and would like to know if you would like to buy his business. Are you prepared to take advantage of the situation?


• You call a supplier that you have been buying from for the past 10 years to place an order only to find out they went out of business yesterday. Are you prepared to buy from someone else so your business is not affected?


• Your biggest competitor went out of business and her 10 biggest customers called you to place orders. Are you prepared to fill those orders?


• Your biggest customer goes out of business. Are you prepared to replace him with another customer?


• Your two best employees tell you that tomorrow is their last day working for you because they are starting a business together - to compete with you. Are you prepared to replace them and deal with the new competition??

The above questions are not part of a fiction story. They are real situations that happen daily to businesses throughout the world. If you are prepared, you will successfully take advantage of the opportunity or meet the change. If you are not prepared, you may not have to worry because you may end up going out of business.

How about these questions?

• What will deliver the TV signal to our homes in 10 years - cable, satellite, or ????????


• When will the computer keyboard become obsolete?


• What fuel will power our cars 20 years from now?


• What device will carry this blog 5 years from now?


• Will we be concerned about identity theft five years from now?


• When will the remote control for our TV become obsolete?

Many businesses have strategic plans. That plan must be a dynamic, not static document. In addition, it must contain Plan B, Plan C, etc. You can't plan as if everything will stay the same. You MUST plan knowing that things will change. You may not know which things will change or when they will change - but they will change and you and your business need to be ready.

I would appreciate your comments on the subject.