From time to time, every business has to pass through crises. Each of them becomes a test for both the owner and the staff. These crises can serve not only as a strength test but also as a starting point for a new, more successful stage in the development of both the company and every worker.
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We move in an insane stream of life, rarely finding time to “reboot” our life strategy. In this case, the ability to stop and rethink your life scenario, to find new solutions will allow you to reach a new level of your own value and maintain satisfaction with life. The same applies to the company.
Such “dead ends” or crises are quite a natural fact of the development of any company. At this stage, it is important to realize the existence of the crisis itself and the need to evaluate and accept the results that have been achieved and find an opportunity to move on, gradually transforming business strategy.
4 stages of development
The word “crisis” in Chinese has two meanings: “danger” and the other means “chance” or “opportunity”. In the business world, the founder and his team are also experiencing a series of “crises”, each of which can turn to be both an impetus to the development and a force destroying everything.
According to the methodology of I. Adizes, each company goes through several periods by analogy with human:
- “Infancy”, when the company develops the idea of its owners and may die due to lack of experience and resources;
- “Childhood” – the rapid growth of the organization, associated with the lack of new resources, and the lack of trust of its founder to the team;
- “Youth”- at this stage, the absence of a system and order creates a great risk of contradictions and conflicts;
- “Flourishing” – if the organization has successfully passed the transformation at each of the stages, which makes it mature and success.
Here are several recommendations for overcoming “crisis” for a company:
- The owner in such periods has to re-evaluate his own management models and define new “growth zones”. Recognize and change his leadership style depending on the situations and level of maturity of the team.
- The team will have to find new potential for growth and strengthening of competitive positions, answering the question: “Who am I as a professional, and what valuable product do I create for my company through my activities?”
Human and business are very similar. Either because the business is made up of people, or because it is built by an individual. Therefore, the methods to overcome crisis must be human as well – stop, realize, evaluate, choose the path, make a decision and continue the movement.