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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

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            Ryan Kh

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            Last Updated on August 16, 2018

            16 Productivity Secrets of Highly Successful People Revealed

            16 Productivity Secrets of Highly Successful People Revealed

            The same old motivational secrets don’t really motivate you after you’ve read them for the tenth time, do they?

            How about a unique spin on things?

            These 16 productivity secrets of successful people will make you reevaluate your approach to your home, work, and creative lives. Learn from these highly successful people, turn these little things they do into your daily habits and you’ll get closer to success.

            1. Empty your mind.

            It sounds counterproductive, doesn’t it?

            Emptying your mind when you have so much to remember seems like you’re just begging to forget something. Instead, this gives you a clean slate so you’re not still thinking about last week’s tasks.

            Clear your mind and then start thinking only about what you need to do immediately, and then today. Tasks that need to be accomplished later in the week can wait.

            Here’s a guide to help you empty your mind and think sharper:

            How to Declutter Your Mind to Sharpen Your Brain and Fall Asleep Faster

            2. Keep certain days clear.

            Some companies are scheduling “No Meeting Wednesdays,” which means, funnily enough, that no one can hold a meeting on a Wednesday. This gives workers a full day to work on their own tasks, without getting sidetracked by other duties or pointless meetings.

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            This can work in your personal life too, for example if you need to restrict Facebook access or limit phone calls.

            3. Prioritize your work.

            Don’t think every task is created equal! Some tasks aren’t as important as others, or might take less time.

            Try to sort your tasks every day and see what can be done quickly and efficiently. Get these out of the way so you have more free time and brain power to focus on what is more important.

            Lifehack’s CEO has a unique way to prioritize works, take a look at it here:

            How to Prioritize Right in 10 Minutes and Work 10X Faster

            4. Chop up your time.

            Many successful business leaders chop their time up into fifteen-minute intervals. This means they work on tasks for a quarter of an hour at a time, or schedule meetings for only fifteen minutes. It makes each hour seem four times as long, which leads to more productivity!

            5. Have a thinking position.

            Truman Capote claimed he couldn’t think unless he was laying down. Proust did this as well, while Stravinsky would stand on his head!

            What works for others may not work for you. Try to find a spot and position that is perfect for you to brainstorm or come up with ideas.

            6. Pick three to five things you must do that day.

            To Do lists can get overwhelming very quickly. Instead of making a never-ending list of everything you can think of that needs to be done, make daily lists that include just three to five things.

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            Make sure they’re things that need to be done that day, so you don’t keep putting them off.

            7. Don’t try to do too much.

            OK, so I just told you to work every day, and now I’m telling you to not do too much? It might sound like conflicting advice, but not doing too much means not biting off more than you can chew. Don’t say yes to every work project or social engagement and find yourself in way over your head.

            8. Have a daily action plan.

            Don’t limit yourself to a to-do list! Take ten minutes every morning to map out a daily action plan. It’s a place to not only write what needs to be done that day, but also to prioritize what will bring the biggest reward, what will take the longest, and what goals will be accomplished.

            Leave room for a “brain dump,” where you can scribble down anything else that’s on your mind.

            9. Do your most dreaded project first.

            Getting your most dreaded task over with first means you’ll have the rest of the day free for anything and everything else. This also means that you won’t be constantly putting off the worst of your projects, making it even harder to start on it later.

            10. Follow the “Two-Minute Rule.”

            The “Two-Minute Rule” was made famous by David Allen. It’s simple – if a new task comes in and it can be done in two minutes or less, do it right then. Putting it off just adds to your to-do list and will make the task seem more monumental later.

            11. Have a place devoted to work.

            If you work in an office, it’s no problem to say that your cubicle desk is where you work every day.

            But if you work from home, make sure you have a certain area specifically for work. You don’t want files spread out all over the dinner table, and you don’t want to feel like you’re not working just because you’re relaxing on the couch.

            Agatha Christie never wrote at her desk, she wrote wherever she could sit down. Ernest Hemingway wrote standing up. Thomas Wolfe, at 6’6″ tall, used the top of his refrigerator as a desk. Richard Wright wrote on a park bench, rain or shine.

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            Have a space where, when you go there, you know you’re going to work. Maybe it’s a cafe downstairs, the library, or a meeting room. Whenever and wherever works for you, do your works there.

            12. Find your golden hour.

            You don’t have to stick to a “typical” 9–5 schedule!

            Novelist Anne Rice slept during the day and wrote at night to avoid distractions. Writer Jerzy Kosinski slept eight hours a day, but never all at once. He’d wake in the morning, work, sleep four hours in the afternoon, then work more that evening.

            Your golden hour is the time when you’re at your peak. You’re alert, ready to be productive, and intent on crossing things off your to-do list.

            Once you find your best time, protect it with all your might. Make sure you’re always free to do your best uninterrupted work at this time.

            13. Pretend you’re on an airplane.

            It might not be possible to lock everyone out of your office to get some peace and quiet, but you can eliminate some distractions.

            By pretending you’re on an airplane, you can act like your internet access is limited, you’re not able to get something from your bookcase, and you can’t make countless phone calls.

            Eliminating these distractions will help you focus on your most important tasks and get them done without interruption.

            14. Never stop.

            Writers Anthony Trollope and Henry James started writing their next books as soon as they finished their current work in progress.

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            Stephen King writes every day of the year, and holds himself accountable for 2,000 words a day! Mark Twain wrote every day, and then read his day’s work aloud to his family to get their feedback.

            There’s something to be said about working nonstop, and putting out continuous work instead of taking a break. It’s just a momentum that will push you go further./

            15. Be in tune with your body.

            Your mind and body will get tired of a task after ninety minutes to two hours focused on it. Keep this in mind as you assign projects to yourself throughout the day, and take breaks to ensure that you won’t get burned out.

            16. Try different methods.

            Vladimir Nabokov wrote the first drafts of his novels on index cards. This made it easy to rearrange sentences, paragraphs, and chapters by shuffling the cards around.

            It does sound easier, and more fun, than copying and pasting in Word! Once Nabokov liked the arrangement, his wife typed them into a single manuscript.

            Same for you, don’t give up and think that it’s impossible for you to be productive when one method fails. Try different methods until you find what works perfectly for you.

            Featured photo credit: Unsplash via unsplash.com

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