Over the last few months, several heads of smaller companies requested assistance in evaluating a new direction. Some are happy with what they do, but want something more. Others are unsure their business has growth potential, and a few have fears that failure is looming. All are considering a transition out of a business and searching for something new. Regardless of the situation, steps to proceeding forward are similar.
When one spends long periods developing a business, the ability to make a drastic change is hampered by ones attachment to the present situation. The realization that the time for change is near is a great first step, but then the hard part comes in identifying the next phase and direction. It is difficult to accept that moving from a business and shutting it down is an option. After all, you spent much of your time and energy trying to grow the business. Failure or quitting was never an option, but now it may be necessary. With this realization, you are about to enter a new phase of your life and are certain you want or need something different. You may have staff and clients that need attention and you must plan for a transition. After all, your personal growth and needs are different than they were in the past and you must move on. It does not matter whether the business is viable or failing, your decisions are going to be difficult. It is always hard to make drastic changes.
Realizing you must change is the first step in moving on. You just entered a new phase of growth whether you are young or old. Take the time to evaluate and plan. The following may be helpful to you.
1.Realize the situation: The realization that is time to move on is essential to make a change. You do not want to look back and wonder why you switched or closed down your business. You did it because you wanted or needed to make the change. You must feel it is right and needed or you will regret the situation.
2.Determine your desires: The next step is evaluating your desires. What do you really want to do in the short and long term? The ability to dedicate oneself to a new direction is greater if you are excited about the new prospects. Do not switch to something that you may dislike or are uncertain of as it may lead you back to a situation where you will be less satisfied than before.
3.Itemize prospects: You may have many options. All you have to do is identify them. Then evaluate the direction and determine which ones are the most exciting. Try to find things that fit your financial objectives as well as mental needs. Again, your goal is finding something that excites you!
4.Evaluation choices: The evaluation may occur by you alone of by seeking advice from friends. Talking the ideas over can be helpful. Sometimes you will see the strengths and weaknesses better when defending them to someone else. Devote adequate attention to the evaluation process, as this is your next to the last step in moving on to something exciting.
5.Decide: Decisions are sometimes easy and at others very hard. It is easy when there is only one option. It becomes increasingly difficult, as the options are greater in number or less attractive. One thing to guard against is failure to decide. Inability to decide is not a good because it leaves you in limbo with no real direction. You may be better off selecting something and switching in the future; at least you will learn a new area and identify what you do not like.
You can follow Taffy Williams on Twitter by @twilli2861 and you can email him with questions or contact him via company contact info in the website. More Startup information is contained in his personal blog.