Your market has become saturated. Your clients’ needs have shifted. Your industry has been wiped out by technology. Is it time to pack it in? No — it’s just time to change. In fact, small-business experts point to change as the foremost ingredient of a flourishing company. Whether it’s a spin-off, a new product, an original twist on an old product, or a service completely separate from its parent, change in business should be ever-present, says Arnold Brown, chairman of New York City-based Weiner, Edrich, Brown Inc., a consulting group that specializes in the management of change and trend analysis. The key is the timing. “Everybody has to become a trendspotter,” Brown says. The French aristocrats knew it was time to change when they started getting their heads chopped off. By then it was too late.” Fortunately, small businesses are uniquely qualified to act fast and adapt quickly to change. In contrast to a conglomerate that needs layers of approval and stacks of paperwork just to switch to a different brand of coffee in the break room, a small company can switch directions on a dime.
To help you keep your head-and make sure your business heads in the right direction-we asked top experts for advice and talked with three entrepreneurs for whom change is a welcome caller in the workplace. Continue reading