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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 October 15, 2018

            How to Calm Down When You Are Overwhelmed: 7 Quick Ways to Try

            How to Calm Down When You Are Overwhelmed: 7 Quick Ways to Try

            Do you sometimes feel that you add items to your to-do list faster than you tick them off? Do you spend most of your day worrying about your lack of time?

            The truth is, no matter how much we love our job, or how productive we believe we are under stress, there comes a moment when the pressure rises above boiling point. The sheer number of urgent tasks multiplies in a geometric progression. New possibilities no longer sound inspiring, they sound overwhelming and equal more work.

            If that’s where you are right now – keep reading! If not, it doesn’t mean you should wait until you get there to learn how to cope with a demanding work schedule and how to calm yourself down quickly when you feel overwhelmed.

            Here are 7 quick and easy tips on how to calm down when you are overwhelmed:

            1. Let go of a few activities

            Yes, it’s that easy! Take a look at your to-do list and ask yourself, “If I don’t do it today, will it matter a month from now?”

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            Not every urgent task is important. Just like not every important, high pay-off task is urgent. The best way to keep yourself from getting overwhelmed and to manage your time is to know the difference between the two and learn to simplify your life by getting your to-do list down to three big tasks.

            2. Take deep breaths to calm down

            This advice sounds so simple it’s often overlooked. But it works better (and faster) than any other relaxation technique out there.

            There is a direct connection between our emotional state and breathing. An anxious, frustrated or overwhelmed person breathes as if they have just finished running a marathon. A calm person breathes differently. Their breathing is deep, slow and steady. So when you have a panic attack, the best way to bring your heart rate down and to regain your cool is to change your breathing.

            Try this now:

            Take a slow, long deep breath in, filling your lungs with air and expanding your diaphragm. Hold your breath for four counts and then slowly release the air through your mouth. Repeat four times and notice frustration and the feeling of being overwhelmed dissolve with each long exhale of these calming breaths.

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            3. Make “Just one thing” your mantra

            When we feel overwhelmed by the amount of tasks on our to-do list, it’s easy to enter the ‘deer in the headlights’ state. You see deadlines approaching directly towards you, and you know that something has to be done about them, but you just don’t know where to start.

            The best way to get your mind out of an ‘inactivity trance’ is to create momentum. This is what makes the “Just one thing” mantra so powerful. It helps to change our expectation that everything has to be completed right now, “or else.”

            Next time you feel overwhelmed make grabbing a cup of coffee your “Just one thing.” You can do it, right? Then come back, pick one of the smallest tasks on your to-do list and tell yourself you’ll do just that one task. This is your next “Just one thing” that you will concentrate on until it’s complete. After that you can move on to the next task and so on.

            It’s not “One thing at a time.” Saying this implies that there is a huge line of other tasks waiting to get done and that’s not the message you want to keep repeating to yourself. Learn how to focus here and stop getting overwhelmed.

            4. Reduce the multi-tasking and multi-thinking

            It’s been proven that multi-tasking is very inefficient, to the point of dumbing us down (more than smoking marijuana does). The same is true for multi-thinking, when your mind frantically jumps from one thought to another, trying to focus on and analyze several things all at once.

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            Fortunately, there is help. A few minutes of meditation or brainwave music is all it takes to start feeling more relaxed, more creative and less overwhelmed.

            5. Get moving

            Any exercise you engage in – be it walking or dancing to your favorite beat – helps to release endorphins, the ‘feel-good’ hormones, through your body and to clear your mind.

            Staying active also increases your productivity, enhances your ability to combat stress and anxiety. It also helps you to release the tension, boosting your mood and changing the thoughts that induce the sense of being overwhelmed.

            The best part is you don’t have to spend hours in the gym to get the mind-soothing benefits of exercise. Even as little as 15 minutes of dancing or jogging can go a long way towards making you feel better and staying calmer.

            6. Change your surroundings

            We all need and deserve to take vacations from work woes and family responsibilities. Unfortunately, spending two weeks lazing on a beach, toes in the sand and a Mojito in hand, is not always an option. However, this doesn’t mean that we can’t take short ‘vacations’ from work stress and the technology buzz.

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            Go outside for a few minutes and enjoy the sunshine. Stop at a park instead of driving straight home from work. Sometimes changing your surroundings and ‘spicing up your routine’ is all it takes to change your perspective on things and find creative solutions to seemingly complex and overwhelming problems.

            7. Get some pet therapy

            Studies have shown what most of us already guessed – our pets can be a great help during stressful moments. Simple actions such as petting or playing with your dog or cat can lower high blood pressure, boost your immune system and boost your mood.

            Besides, pets can make the best conversation partners to share your frustrations with. They listen, they love you unconditionally and they never talk back or say, “I told you so.”

            Final thoughts

            Don’t wait for stress to hit you to start practicing these quick ways to calm down when you are overwhelmed. The best way to enjoy a worry-free life is not to push yourself to the limit of being overwhelmed and frustrated.

            Featured photo credit: Dardan via unsplash.com

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