Advertising
Advertising

Successful Entrepreneurs’ Secret Strategies to Maximize Benefits

Successful Entrepreneurs’ Secret Strategies to Maximize Benefits

Nearly three centuries ago, Benjamin Franklin made a profound statement that every entrepreneur should live by: “When you’re finished changing, you’re finished.”

This value in this quote didn’t pass with the late genius. In the 21st Century, his advice is more relevant than ever.

Change is an inevitable part of entrepreneurship. New demographic trends, technology and other changes are constantly shaping the future of your business.

Unfortunately, most companies fail to implement change. According to Tor Benrick, nearly three quarters of these efforts are unsuccessful.[1]

A number of factors contribute to these failures. Fortunately, you can execute change more effectively by choosing the right change management models.

Overview of Top Change Management Models

Many change management models have emerged over the years. They include:

  • The Unfreeze-Change-Refreeze Model. This model focuses on the fact that certain customs and processes are built into the organization. Before change can take place, the organization must open itself up to the concept of change.
  • Kotter’s 8-Step Model of Change. This model focuses on setting short-term goals and creating a sense of urgency to every member of the team.
  • Bridge’s Transitional Model. The Bridge’s Transitional Model focuses on the impact change and complacency have on the organization and individuals within it. While this model can’t be implemented on its own, it is a great complement to other change management models.
  • Prosci ADKAR Model. This is an incremental, individualized process that all employees must embrace. Each individual sets their own objectives to make change more flexible.
  • Virginia Satir Change Process. The Virginia Satir Change Process is a more holistic change management model that focuses on the impact on individuals and helps them welcome new change.

Each of these models has its own benefits and drawbacks. Organizations should be aware of all of them and use them to their fullest advantage.

Which Is Best for Your Company?

Several change management models have gained acceptance over the past century. While these models all serve important purposes, some are better suited for specific business goals.

It is important to understand the merits of different change management models and know when to apply them. Here is an overview of some of the most widely used.

1. Unfreeze-Change-Refreeze Model: Break Resistance

In the 1940s, German-American psychologist Kurt Lewin developed the Unfreeze-Change-Refreeze model,[2] which remains one of the most widely used change management models to this day.

Advertising

Lewin recognized that humans are ambivalent about change. They may recognize the benefits change brings, but fear of the unknown can halt efforts to execute change.

    When is it most effective?

    The Unfreeze-Change-Refreeze model focuses on breaking their resistance to change. In order to accomplish this, leaders must provide a motivation to venture out of their comfort zones. Tai Lopez [3] states that motivation can come in different forms: higher compensation, better working conditions and promise of future praise are all commonly used.

    Once employees are given the motivation to embrace change, the process can begin. After it is completed, the change is permanently accepted as part of the company structure.

    When is it less effective?

    Negative motivators are less effective, such as threats of termination for failing to accept change. However, there may be instances where fear needs to be used, such as dealing with particularly stubborn employees during a crisis. As a rule of thumb, positive motivational strategies should be used whenever possible.

    While the Unfreeze-Change-Refreeze model is undoubtedly effective, it has one key downside: it takes a long time to execute. Leaders need to gradually encourage employees to come around to the inevitable.

    2. Kotter’s 8-Step Model of Change: A Collaborative Effort

    John Paul Kotter, the Konosuke Matsushita Professor of Leadership, Emeritus, for the Harvard Business School, has been one of the leading organizational change researchers for 45 years. One of his most ground-breaking accomplishments was the development of Kotter’s 8-Step Model of Change.

    This model is more detailed than Lewin’s. It relies on the following steps:

    Advertising

    • Communicating the urgent need for change
    • Developing the coalition to guide change
    • Formulating the vision
    • Communicating the vision
    • Empowering employees and delegating duties to execute change
    • Setting short-term goals
    • Consolidating gains and setting longer-term goals
    • Ingraining new changes into the company culture

      When is it most effective?

      For many organizations, the advantage this model has over the Unfreeze-Change-Refreeze model is that it makes change a collaborative process. For companies that strive to foster a sense of inclusiveness and mutual accountability, this is a better model.

      Alberto Irace, CEO of Acea, has heavily praised Kotter’s system.[4]

      These results and initiatives have an extraordinary and immense value, because it contributes not only to the spirit of the participants, but it also shows with evidence and tangible clarity that this dual system is for us reachable and doable and is dependent on the desire, curiosity, interest and passion that each of us can bring to his or her daily work.

      When is it less effective?

      However, it is still one of the top-down change management models, so it may not be participative enough for smaller companies. The nature of small companies which employees tend to take multiple responsibilities and are more familiar with the entire operation of the business renders the process of communicating the change and vision quite nonsense.

      3. Bridge’s Transitional Model: Let go, comply and accept

      Bridge’s Transitional Model focuses more heavily on the impact change and complacency have on the individuals within the company. While it isn’t a stand-alone model for driving change, it is a great tool to be used in conjunction with other models. The model is 3-stage which can be summarized by the diagram below:

        The first phase involves ending, losing and letting go. These happen when people are forced to experience a change unwillingly and to let go of something they have been comfortable with.

        Advertising

        The second phase involves the neutral emotion. People at this stage are trying hard to cope with the change and cause some emotional ups and downs.

        The third phase involves a new beginning. At this stage, people have fully adapted to the changes and start developing skills around the change.

        When is it most effective?

        It requires entrepreneurs to get input from their employees through every stage of the process, thereby getting them to buy into it, so this model is ideal for smaller companies with more participative leadership styles.

        When is it less effective?

        As the focus of the model is on transition and how to cope with it smoothly, this model alone is ineffective in change management. Most usually, it is best employed with another change management to ensure the harmonious transition.

        4. Prosci ADKAR Model: Incremental steps-oriented

        The Prosci ADKAR Model is a goal-oriented approach to change-management. It requires businesses and individuals to setup incremental steps.

        One of the unique things about the Prosci ADKAR Model is the focus on individual change and organizational change. By helping individuals set their own goals, they can often foster change better. However, individual goals need to be sync with the direction of the company.

          When is it most effective?

          Advertising

          The feature that it magnifies the potential pros and cons can be a confidence boost for employees to work harder for the change. While most companies fail their attempts to change due to their focus on the method employed, this model shifts the focus to maximize the contribution of employees.

          When is it less effective?

          While the model emphasizes the emotional aspect of human involvement in change, it actually doesn’t give a very concrete explanation on how to implement it. Also it mentions quite less about the actual management method.

          5. Virginia Satir Change Process: Embrace negativity

          Developed by a leading family therapy researcher, the Virginia Satir Change Process focuses on four stages:

          • Coming to terms with the problems of the status-quo
          • Recognizing the need to address new change into the process
          • Embracing chaos
          • Using chaos to inspire new ideas

            When is it most effective?

            The good thing about this model is that it forces people to embrace the stressfulness of change, rather than resisting it. Learning to properly handle the negativity can facilitate the change process.

            When is it less effective?

            Despite encouragement on the acceptance of the potential negative emotions arisen from changes, the model does not provide actual solution on how to deal with the problem.

            Review Your Business and Choose the One That Fits It Most

            Many different change management models have been developed over the years. They all have their benefits, but there are a variety of things you need to keep in mind before choosing one. The size of your company and the level of autonomy in your leadership style are the two biggest factors that need to be taken into consideration.

            Reference

            [1] Tor Benrick: Barriers to Organizational Change
            [2] MindTools: Lewin’s Change Management Model)
            [3] Linkedln: Tai Lopez
            [4] Kotter International: The 8-Step Process for Leading Change

            More by this author

            Ryan Kh

            Infleuncer

            Always Fail to Solve Your Problems? Perhaps You’re Dealing With Problems That Never Exist Successful Entrepreneurs’ Secret Strategies to Maximize Benefits photography Life-Saving Instagram Tools For Photographers fun ways 4 Ways to Have Fun Losing Weight playlist 4 Smart Ways to Create an Awesome Playlist

            Trending in Productivity

            1 10 Best Ted Talks About Procrastination That Will Ignite Your Motivation 2 The Importance of Reminders (And How to Make a Reminder That Works) 3 15 Highly Successful People Who Failed On Their Way To Success 4 14 Powerful Leadership Traits That All Great Leaders Have 5 Ditch Work Life Balance and Embrace Work Life Harmony

            Read Next

            Advertising
            Advertising
            Advertising

            Last Updated on June 19, 2019

            10 Best Ted Talks About Procrastination That Will Ignite Your Motivation

            10 Best Ted Talks About Procrastination That Will Ignite Your Motivation

            There are two types of people in this world; one who wants to complete their work as early as possible and one who wants to delay it as much they can. The first category of this depicts ‘precrastinators’ and the latter one are termed as ‘procrastinators’.

            Much has been researched and published about procrastination; most of the studies terming it as detrimental to one’s health and adding to stress levels. Though, there are ‘procrastinating apologists’ as you would call them who proclaim there are a few benefits of it as well. But scientists have argued that the detriments of procrastination far outweigh the short-term benefits of it.

            Everybody procrastinates, but not everybody is a procrastinator. Procrastination is habitual, not situational.

            For an employee, it means piling up work until the end hours of their shift and then completing it in a hurry. For a student, it means not studying for an exam that is due the next week and cramming up the whole book one night before.

            If you fall into this category, do not worry, there have also been articles published and speeches given by successful leaders on how procrastinators aren’t so bad after all.

            Here are 10 of the best Ted Talks about procrastination that will help you regain motivation:

            1. Inside the Mind of a Master Procrastinator, by Tim Urban

            Tim Urban gives his funny uptake on procrastination and dives deep into how a procrastinator’s mind functions. He goes ahead and tells the audience about how ‘precrastinators’ have a rational decision-maker in their mind but in a procrastinator’s mind, there are two other entities existing — the ‘instant gratification monkey’ and ‘the panic monster’

            Advertising

            From the video, you will learn how to stay aware of the ‘instant gratification monkey’ whenever you have to complete a task.

            2. The Surprising Habits Of Original Thinkers, by Adam Grant

            In this video, Adam Grant builds on the concepts of ‘instant gratification monkey’ and ‘the panic monster,’ and marks a balance between ‘precrastinators’ and procrastinators giving existence to a productive and creative persona.

            He talks about how a lot of great personalities in the course of history were procrastinators giving an example of Martin Luther King Jr. delaying the writing of his speech. ‘I have a dream’ was not in the script but was an original phrase by the leader; he opened himself to every possible avenue by not going with the script.

            You can learn about how one has to be different and better rather than be the first-mover, going deep into the correlation between original thinkers and procrastinators.

            3. An End To Procrastination, by Archana Murthy

            According to a survey,[1] 20% of Americans are chronic procrastinators. Study after study shows chronic procrastination isn’t just laziness and poor time-management, but is actually a byproduct of negative emotions such as guilt, anxiety, depression and low self-worth — which is different from the contrary belief.

            Archana Murthy gives us an insight into the procrastinator’s plight and provides ways to help the procrastinator in you.

            For a fellow procrastinator, you should check out her good advice on how to end it.

            Advertising

            4. Why We Procrastinate, by Vik Nithy

            Vik Nithy has already found 23 companies before coming to give his speech on procrastination. He puts forward the structure of our brain, showing the prefrontal cortex as the intelligent one telling us to complete the assignment due next day.

            Procrastinators are threatened by complex work which gives them anxiety and that is where Amygdala comes in telling us to find pleasure in other activities.

            Going ahead, you’ll from him how to overcome procrastination i.e. planning for goals, time, resources, process, distractions, and for failure.

            5. Trust The Procrastinator, by Valerie Brown

            Frankly, this is one of the best speeches on procrastination given on the TedTalks platform. Valerie Brown tells us that we live in a society where every body wants everything right now and procrastinators aren’t in those ‘right-now’ people.

            She gives us an example of great procrastinators like Leonardo Da Vinci, who regarded himself as a failure at one point of time and took 16 years to complete the Mona Lisa. She gives us another perspective on procrastinators that it isn’t necessarily bad for one’s career or health.

            6. Procrastination Is The Key To Problem Solving, by Andrea Jackson

            Andrea Jackson gives us her two categories of procrastinators: the accidental procrastinators and the deliberate procrastinators. She puts Leonardo Da Vinci in the former category and Thomas Edison in the latter one.

            There is a part where she labels procrastinators as unlocking a supersonic jigsaw puzzle in their head when they procrastinate; it means bringing thousands of ideas in one’s head when one procrastinates and keeps thinking about it. She calls Salvador Dali and Aristotle as deliberate procrastinators where they used to delay work in order to achieve a more creative result.

            Advertising

            In this video, you’ll learn a new perspective about procrastinators.

            7. The Vaccination For Procrastination, by Bronwyn Clee

            Bronwyn Clee takes us in the psychology of a procrastinator, telling us that fear stops us taking up new work.

            She shares how she taught herself to be a decision-maker and not to fear if she will be able to take an action or not. From this video, you will learn how to bring the change in yourself and end procrastination.

            8. I’m Not Lazy, I’m Procrastinating, by Victoria Gonzalez

            Coming from a millennial, this is more relatable to the younger generation.

            Victoria Gonzalez tells us that procrastination has nothing do with time-management skills. In fact, a procrastinator puts off work but with an intention to complete it; lazy people are the opposite of that who don’t even try.

            9. Change Anything! Use Skillpower Over Willpower, by AI Wizler

            Al Wizler, cofounder of VitalSmarts, gives us an example of her mother’s smoking habits which she wanted to quit but she just couldn’t even after trying for years. Eventually, she died of cancer.

            He reminds us to the need to take control of the forces that influence our decisions, rather than letting them take control of ourselves.

            Advertising

            In this video, you’ll learn the importance of self-reflection, identifying your behaviours, and getting to work on it.

            10. How To Motivate Yourself To Change Your Behaviour, by Tali Sharot

            Tali Sharot, a neuroscientist explains how we behave when put through alternating situations.

            She has found that people get to work when they are rewarded for an action immediately. Procrastinators can get themselves to work and reward themselves for it, which will lead to a change in their behaviour if they actually start that process of working sooner and completing it.

            In this video, you’ll learn about the role of celebrating small wins and tracking your progress when you’re trying to reach your goals.

            The Bottom Line

            Procrastinators can find all kinds of advices on TedTalks.

            A few of them, defending the idea and proclaiming that it actually allows for a more creative process and one that people shouldn’t feel so guilty about. Some of them, giving suggestions on how to put an end to it and making you a faster worker.

            It all depends on how you want to perceive it and if you want to, you can find the cure for this ailment.

            More About Procrastination

            Featured photo credit: Han Chau via unsplash.com

            Reference

            Read Next