Adapt and change your business – video transcript

In this video Adapt and change your business, learn how to pivot, adapt or transform your business when you need to respond to change.

One. Adapt and change your business.

As a business owner, you probably know that change is inevitable and happens constantly.

Change could mean new competition for your products or services or changes to your customers' tastes and needs.

Change is happening all around us. How you respond to change can be a key factor for how successful your business will be.

It's fair to say that with natural disasters, a global pandemic and a digital revolution, we've all had to face up to the challenges that change can bring.

But what if there was a way to work through change that reduces anxiety, brings more certainty, maximises the impact of your time and effort, and improves your business outcomes?

Welcome to our resource hub to help your business change and adapt. Whether you are looking to improve your current business or invent a new one, this resource is designed to provide tools and information to help you plan, manage and respond to change in the most effective way, even if that change is unexpected.

Why do we need to change? As the old adage goes, if it ain't broke, don't fix it, right? Unfortunately, by the time you realise your business is out of step with customers, competitors or market needs, it might be too late to fix it.

That's why it's critical to prepare for, understand and know how to manage change.

So what is change? Change is a general shift of something from one state to another state.

In business, this often means a shift in external factors like an economic downturn, increased competition or shifts in customer demand, or internal factors such as production processes, your location, what you sell or staffing levels.

Any of these factors can affect how you conduct business. You can't change external factors that come your way, but the internal factors are where you can have significant control.

Managing change means adapting or pivoting your business's internal elements that make up your business model.

Understanding your business model and tweaking it to accommodate change as you see or expect is the key to running a successful business in today's world.

You'll need to have a pro-change attitude and a clear understanding of your values and your personal and business goals.

To support you along the way, we've put together this series of videos and resources to help you prepare for change, understand change, manage change and make change happen.

Along the way, we'll explore your business's strengths, weaknesses, opportunities and threats to help you adjust your business model for success.

Work through the change program at your own pace and take the time to download and use the tools given to you along the way.

This will help you master change and potentially even find a way to shift your business into a higher gear.

Watch the video Adapt and change your business.