July 3, 2023

Is your business an old dog that refuses to learn new tricks?

It’s no exaggeration to say we live in uncertain times and disruption is constantly changing the face of the business world. When faced with such unsettling changes people all too often cling to the old ideas and traditional way of doing things but that resistance to change can strangle your business vitality and growth. One small town in Northern Ontario threatened by severe population loss has decided to turn its fortunes around by investing in new ideas. It raises the question; as a business owner are you willing to invest in change or is your business stuck in an out-dated time warp?

A youthful outlook for Nairn: Population 340

The town of Nairn, in Northern Ontario is struggling with a population drop of 30% over the past ten years and many locals feared the town was dying. But there’s new hope for the town’s survival in the shape of 19-year old Frederic Diebel. Frederic was elected as a town councill or last week and he believes that a new, youthful vision for the town can help revive its flagging fortunes.[1]Many of the town’s long-term residents clearly agree and rewarded him with the top equal share of election votes. So, what lessons can we learn from this to help keep our business alive and growing in the face of change? Dr. Martin Luther King, Jr. put it very succinctly when he said, “Today, our very survival depends on our ability to stay awake, to adjust to new ideas, to remain vigilant and to face the challenge of change.”

Is your business ready for change?

There are some key qualities your business needs to survive the challenge of change. One of the business buzzwords you’ll often hear is ‘agile’. Being agile is about being responsive. And there are many ways you can explore a more youthful, responsive attitude in your organisation. Start by listening to your employees and customers right across the board, both young and old. Find out how they feel about interacting with your brand. By showing that you value everybody’s voice you can tap into a range of new ideas you might never have thought of.A youthful agile business also embraces new technology. Imagine a virtual assistant that saves you hours in scheduling appointments or software that automates those tedious stock-taking/ ordering jobs that everyone hates doing. Moving to an efficient cloud-based accounting system is another vital step in using technology to optimize your business. This will save you hours of filing receipts and completing book work. It’s paperless and gives you real-time insights into your organisation’s performance so you can respond instantly to market changes and make better decisions. You can enjoy a faster turnaround on your tax returns too. Cloud systems automate all the behind the scenes accounting functions. The result is better for the environment and better for your business and leaves you with more time to run your business. Yes, change can be challenging but the question is: will you embrace the new and leap ahead of your competition or will your business carry on doing things the same old way and get left behind like an old dog scratching fleas?[1] https://www.cbc.ca/news/canada/sudbury/19-year-old-town-councillor-nairn-centre-1.4879506

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