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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.

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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:

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    • 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.

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        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?

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          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

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            Last Updated on May 7, 2021

            Productivity Boost: How to start your day at 5:00 AM

            Productivity Boost: How to start your day at 5:00 AM

            I have been an early-riser for over a year now. Monday through Friday I wake up at 5:00 AM without hitting the snooze button even once. I never take naps and rarely feel tired throughout the day. The following is my advice on how to start your day (everyday) at 5:00 AM.The idea of waking up early and starting the day at or before the sunrise is the desire of many people. Many highly successful people attribute their success, at least in part, to rising early. Early-risers have more productive mornings, get more done, and report less stress on average than “late-risers.” However, for the unaccustomed, the task of waking up at 5:00 AM can seem extremely daunting. This article will present five tips about how to physically wake up at 5:00 AM and how to get yourself mentally ready to have a productive day.

            Many people simply “can’t” get up early because they are stuck in a routine. Whether this is getting to bed unnecessarily late, snoozing repetitively, or waiting until the absolute last possible moment before getting out of bed, “sleeping in” can easily consume your entire morning. The following tips will let you break the “sleeping in” routine.

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            Relocate your alarm clock.

            Having an alarm clock too close to your bed is the number one reason people simply cannot get up in the morning. If your alarm clock is within arms reach of your bed, or if you can turn your alarm clock off without getting out of bed, you are creating an unnecessarily difficult situation for yourself. Before I became an early-riser, there were many times that I would turn off my alarm without even waking up enough to remember turning it off. I recommend moving your alarm clock far enough away from your bed that you have to get completely out of bed to turn it off. I keep my alarm clock in the bathroom. This may not be possible for all living arrangements, however, I use my cellphone as an alarm clock and putting it in the bathroom makes perfect sense. In order to turn off my alarm I have to get completely out of bed, and since going to the restroom and taking a shower are the first two things I do everyday, keeping the alarm clock in the bathroom streamlines the start of my morning.

            Scrap the snooze.

            The snooze feature on all modern alarm clocks serves absolutely no constructive purpose. Don’t even try the “it helps me slowly wake up” lie. I recommend buying an alarm that does not have a snooze button. If you can’t find an alarm without a snooze button, never read the instructions so you will never know how long your snooze button lasts. Not knowing whether it waits 10 minutes or 60 minutes should be enough of a deterrent to get you to stop using it.

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            Change up your buzzer

            If you use the same buzzer day in and day out, you begin to develop a tolerance to the sound. The alarm clock will slowly become less effective at waking you up over time. Most newer alarm clocks will let you set a different buzzer tone for the different days of the week. If you change your buzzer frequently, you will have an easier time waking up.

            Make a puzzle

            If you absolutely cannot wake up without repetitive snoozing, try making a puzzle for yourself. It doesn’t take rocket science to understand that the longer your alarm is going off, the more awake you will become. Try making your alarm very difficult to turn off by putting it under the sink, putting it under the bed, or better yet, by forcing yourself to complete a puzzle to turn it off. Try putting your alarm into a combination-locked box and make yourself put in the combination in order to turn off the alarm — it’s annoying, but extremely effective!

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            Get into a routine

            Getting up at 5:00 AM is much easier if you are doing it Monday through Friday rather than sporadically during the week. I recommend setting an alarm once that repeats everyday. Also, going to bed at about the same time every night is an important factor to having a productive morning. Learn how much sleep you need to get in order to not feel exhausted the following day. Some people can get by on 4-6 hours while most need 7-8.

            Have a reason

            Make sure you have a specific reason to get up in the morning. Getting up at 5:00 AM just for the heck of it is a lot more difficult than if you are getting up early to plan your day, pay bills, go for a jog, get an early start on work, etc. I recommend finding something you want to do for yourself in the morning. It will be a lot easier to get up if you are guaranteed to do something fun for yourself — compare this to going on vacation. You probably have no problem waking up very early on vacation or during holidays. My goal every morning is to bring that excitement to the day by doing something fun for myself.

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            As I previously mentioned, I have been using these tips for a very long time. Joining the world of early-risers has been a great decision. I feel less stressed, I get more done, and I feel happier than I did when I was a late-riser. If you follow these tips you can become an early-riser, too. Do you have any tips that I didn’t mention? What works best for you? Let us know in the comments.

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