How To Fix Sudden Business Changes
Evolve or die?
Advances in technology, increased competition and changes in legal, regulatory or industry requirements can force firms to change in response. What’s more? These occurrences now take place on a more frequent basis. This can be bad as a young business that’s just trying to make it big in Lagos, so what then do you do? Do you evolve or die? Here’s what we think:
- Communicate
If such occurrences do happen, ensure that you let your partners, employees and directors know. In fact, way before then, you should let them know to make room for fears. Get their buy-in so you as well, are not left high and dry.

2. Trust and Be Trusted
Employees can up and quit if they find out that such is happening and could go awry. You know what makes a difference? A leader who they can trust. Similarly, a leader must know who they can trust to re-calibrate the compass with.

3. Build Competency
Don’t be reactive. From the get go, you need to infuse change competencies into the motherboard of your company. You need to expect the best, but still be prepared for the worst.

4. Do The Ground Work
Your employees may be the ones facing customers everyday. They know most common pain points. Work closely with them and find out how you can serve your customers better, not by just sitting inside AC and looking busy.

5. Encourage Participation
People value more, what they’ve helped to create. This means you and your team planning together going forward. You don't want people to just up and leave when the going gets tough.

If you can transform your company into one that consistently displays these principles with wit and grit, you can better manage the risks associated with constant change and thrive even in the marketplace with increased challenges.
This is part 5 of a 6 part series that we’re doing this month, to help entrepreneurs like us, meander through the lemons that business in Nigeria throws at us.
We’d love to hear from you, so check us out at www.findreach.com. :)
