Thoughts on a business in transition...the first of many it seems.
Recently I have been having in depth discussions with a colleague of mine regarding businesses in transition, what it means, its impact, and how our backgrounds offer a unique perspective on this topic; particularly on the commercial side (Renee is quick to remind me that Sales and Marketing is much clearer than saying "commercial"; this is another point of discussion). Call it Commercial or Sales and Marketing, we definitely can offer insight.
Transition (the noun) is defined as the process or a period of changing from one state or condition to another*, and with respect to business, I will say this is a constant state... the exception I suppose is when a business is stagnate (showing neither growth nor decline). Even this stagnation though will tip either towards growth or decline in time and return the business to its natural state of change.
BY DEFINITION, A BUSINESS IS ALWAYS IN TRANSITION... sometimes fast and sometimes slow, but always transitioning one way or another.
There are four considerations that come to mind when it comes to transition that frame up the real world aspects of dealing with it:
Transition due to internal factors - Transition and change in the organization driven by internal activities and initiatives by leadership and employees to build a more viable and successful business. An example of this would be the implementation of a new CRM system for the sales force to manage customer opportunities and increase revenue.
Transition due to external factors - Transit