Handling Change In Your Business

Whether you are a current franchisee, a future franchisee, or even just a fan of our blog, chances are that you have experienced major changes in your workplace. Changes can cause great anxiety, especially if you are forced to adjust the way you have always approached a situation. Changes in process are often the best way to enhance productivity in business, yet the transition can prove to be troublesome.

I wanted to take this week’s post to discuss dealing with change and the growth contained in the process of change. Most of us operate under the illusion that life remains constant, but in reality, it is always changing. Your business, if it’s growing, is always changing, too.

Based on a study by the Center for Creative Leadership (CCL), the number one issue facing senior leadership today is “dealing with complex challenges.” Furthermore, studies say that the number one most important competency in shortest supply today is dealing with change. The CCL defines challenges as problems that:

  1. Lack a clearly defined solution
  2. Remain beyond an individual’s or single group’s ability to overcome
  3. Have significant strategic, cultural, environmental, and marketplace impact
  4. Create a paradox of reflection and action
  5. Render traditional solutions ineffective
  6. Demand flexibility and agility as challenges shift seemingly overnight

Being open to change and the lessons within change is no small task. Positive change requires letting go of old patterns and taking a fresh approach. In business, and in life, we must go beyond our preconceived ideas. We have to embrace, rather than resist, the change.

Change in an organization calls for a great deal of communication, specifically from the leaders in the group. What are some important lessons that you have learned about change from your business? Leave comments below!

How can you increase your revenue by $8,000 a year?

Surprisingly, the answer may be your business on Yelp. Yelp is an online urban guide and business review site, headquartered in San Francisco. And it is shown to increase the revenue of the average business by $8,000 a year. Millions of American consumers look to Yelp for recommendations from fellow consumers. And with a smart phone, this information is accessible at the tip of the fingers. The website and mobile app have consumers everywhere turning to customer reviews before trying a new restaurant, cleaning service, hotel, coffee shop, or drugstore.

According to a 2012 study at Berkeley, a half-star improvement in a restaurant’s Yelp rating caused the restaurant to sell out 49 percent more frequently. That’s huge! And it shows how seriously customers today are taking the positive and negative experiences they have at an establishment. Now a description of a delicious meal, along with a photo, can be shared with interested parties almost instantly, but then again, so can a negative experience. It makes me question whether consumer review sites like Yelp are putting more pressure on business owners than in the past.

At one time, a bad meal or terrible service meant a bad tip. Today, it could mean the entire experience posted to Yelp. A new study by Merchant Warehouse confirms the importance of review sites, showing that 93 percent of consumers who consumers who research local businesses on review sites make purchases from those businesses. Again, huge.

Is your business on Yelp? Do you frequently review places where you’ve been a patron? Leave your comments below!