How can my company be more responsive to change?

Dear Aunty B,

I am reflecting on the year that’s been. It has been a bummer. Things are looking better but I don’t feel that we responded fast enough to the changing environment.

Until this year (our company is three years old) we had been growing fast and I am forecasting a better year next year.

But I feel like things were worse than they should have been in 2009 because we just did not know how to respond.

TY,
Melbourne

Dear TY,

Well, it was a tricky year so don’t beat yourself up too much. But having said that… let me start by telling you what you needed: a proven management team with a track record, years of experience in larger or fast growing companies with the right qualifications, skills and experience to cope with change.

Your problem is that you are still in start up territory. You probably have an inexperienced management team and several key staff in your top positions that have been with you from the start. They are probably all-rounders and not that expensive.

Be aware that as you grow you need to promote the best of the bunch and bring in others to build that senior management team that can react quickly to change and get near those budget targets.

What you are also looking for is a bit of grey hair: people that have been through several business cycles… you know the ones who start their sentences with: “I remember when in 1989…”

Good luck!
Your Aunty B

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