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 - Transition and change in the organization driven by external forces that impact how the company conducts business. Examples of this can range from new government regulations, through new competitive products, to the countless changes that can happen with the customer's ever changing expectations.
Transition by "evolution" - Transition and change that occur at a controlled pace as part of long term strategic planning, the companies goals, and market considerations.
Transition by "revolution" - Transition and change that occur because of a dramatic event... either externally or internally. A merger or leadership change (with very different philosophies) represent the more colourful examples of transition by "revolution".
It was at this point I literally looked up from my computer and asked myself, "Do you really believe you can tackle this topic with a 500 to 700 word blog post?" I will definitely need more words and future posts, and with that said, I will lay the foundation regarding a business in transition by saying,
"Transition in business is a natural state that is under constant influence by external and internal factors, and it is the responsibility of leadership and employees alike to manage this as proactively as possible... ever prepared to deal with the change of revolution"
The gauntlet has been thrown down... I will organize my thoughts on a business in transition, particularly with the commercial function, and tackle it with gusto 500 to 700 words at a time. I invite my colleague Renee Cormier, as well as anyone else, to offer insights on a business in transition.
Because in a very practical sense, it will touch us all throughout our careers.
* Thank you internet for one of the many transition definitions.