The Five A’s of Change - achieving continuous improvement
April 27, 2021
How can we consciously use the process of change to continuously improve our business?
We've spent more than the past year responding to things outside of our control. Everyone has experienced huge change, a lot of it while in crisis mode. Upon reflection, some of the changes were inevitable. If we think about digital transformation and flexible working conditions, these were simply accelerated by Covid.
Now that the worst has (hopefully) passed, it’s important to pause and reflect on the changes you’ve made to your business. The process of change itself is a powerful tool we can use far beyond the Covid crisis, to improve our planning and resilience. It's likely there are other opportunities (or changes) that exist to help you future proof your business.
Consciously recognising the process required to change can vastly improve your outcomes.
The Five A's of Change breaks it down simply:
1. Awareness.
First, we need awareness of what needs to change. What changes should you prioritise now you have some control back? How can you reflect these in your business plan?
2. Acceptance.
We have to accept that change is a continuous process. It's likely you're craving some stability; however progress requires change. Change is a lot more positive when it’s a result of proactive (not reactive) thinking.
3. Action.
Once we have a plan, we must actually implement it. Now that you're out of crisis mode, you can take it one step at a time; the momentum for change will grow. Without action, planning is pointless.
4. Accountability.
Having someone independent to hold us to account is typically a fool proof way to ensure we act. A bit like going to the gym before work… we’re more likely to show up if we’ve committed to a friend or paid for a personal trainer.
5. Acknowledgement.
Acknowledge the change you've been through and the way you responded to Covid-19 and lockdown. We all did the best we could with the knowledge we had at the time. Celebrate the success of taking action and forcing change; it helps reinforce good behaviour.
This powerful model is simple and effective. Consider the things in your business that you would like to change and what stage in this process you’re at. What is your next step? Whatever your current situation, empower yourself and make a commitment to real change.
"The secret of change is to focus all of your energy not on fighting the old, but on building the new."
- Socrates
Need help making change stick? Contact us
to find out how we can help you with planning and accountability.
What can your business do to overcome the cashflow, profitability and compliance worries?
With so many customer interactions taking place online, your online customer service has to be first-rate.
A cash flow forecast will give you business intelligence to help you scenario-plan, search for cost-savings and look for strategies that will preserve your cashflow.
Research from MYOB shows nearly half of Baby Boomer business owners are planning to exit in the next 1 to 5 years. But do you have a succession plan in place?
Are you undercharging for your fees? We’ve got the five warning signs that can help you diagnose whether your prices are too low.
The Reserve Bank of Australia has lowered interest rates. What does a drop in interest rates mean for you, your business and your financial opportunities?
Proposed legislation from the Victorian Labor Government could offer your employees the right to work from home 2 days per week. We’ve outlined how to make the most of WFH.
Should you buy or lease your new equipment? Here are some pros and cons of each. We also can review your financial position, cashflow and cost base to decide whether buying or leasing is the right thing for your business.
The ATO’s updated Tax Time toolkit is your 101 guide to business taxes. We’ve summarised the key resources you can find in this toolkit, with links to the ATO site.
You’ve sold your business! But what happens now!? We’ve outlined five potential pathways your post-sale life could take, and how they help you find new goals and lifestyles.
