Morris and Watson
advertisement
Morris and Watson
advertisement
Morris and Watson
advertisement
Goto your account
Search Stories by: 
and/or
 

Management, Business












Overcoming inertia in business is a continuous journey that requires commitment and leadership. | Source: Adobe Stock
Overcoming inertia in business is a continuous journey that requires commitment and leadership. | Source: Adobe Stock

Overcoming inertia in your jewellery business

Is your jewellery business stuck in a rut? DAVID BROWN reveals the secret to breaking free from the bad habits in your business.

Inertia is an inherent part of our nature, describing our inability to change direction quickly.

The official definition is as follows: “If a body is at rest or moving in a certain direction, it will stay at rest or continue moving in the same direction until it is acted on with force.”

It’s a term that describes resistance to change or a tendency to maintain the status quo, which can pose significant challenges for businesses.

Overcoming inertia is crucial for staying adaptable, innovative, and competitive in today's dynamic market.

Inertia manifests in various forms within a business setting.

You may often stick to routines and traditional processes, reluctant to embrace new methods or technologies due to the comfort derived from familiarity.

Likewise, fear of failure or the unknown can hinder businesses from taking risks, trying new strategies, or exploring innovative ideas.

This may extend beyond just the principals of the business and include staff too, especially those who have been there for a while.

In fact, inertia can be embedded in organisational structures, where established hierarchies and processes can be a serious inhibitor to change and progress.

Aside from the resistance of staff, you may encounter resistance from the processes and systems you currently have in place.

Outdated systems or entrenched processes can create inertia, making it challenging to adopt modern practices that may significantly improve efficiency.

The impact of inertia is clear, but there are steps you can take to overcome it.

Foster a culture of innovation 

Encourage experimentation in your business. Cultivate an environment where experimentation and calculated risk-taking are embraced.

Encourage employees to propose and implement new ideas without the fear of failure.

You can offer incentives or rewards for innovative thinking and successful implementation of new strategies.

Recognising and celebrating innovation can motivate employees to break away from inertia.

Embrace and encourage change 
"Leaders must communicate a compelling vision for the future and lead by example, actively participating in and advocating for change."

Strong communication and transparency are critical.

Effective communication about the need for change, rationale, and potential benefits can reduce resistance.

Transparency fosters understanding and buy-in from employees. These changes must be implemented gradually, allowing for adjustments and feedback. Incremental changes are often more manageable and less disruptive than abrupt overhauls.

Empower and educate employees

Invest in training programs to equip employees with the skills and knowledge needed to adapt to new technologies or processes.

Education reduces resistance born from uncertainty. You will then engender out-of-the-box thinking. This must go hand in hand with you involving employees in the decision-making processes.

When they feel empowered and included, they are more likely to embrace change and, in fact, create it rather than resist it.

Show leadership and vision 

Change starts at the top in any business. Leadership plays a pivotal role in driving change.

Leaders must communicate a compelling vision for the future and lead by example, actively participating in and advocating for change.

If you show you don’t fear change, it will set an example for your staff. It helps to establish goals and objectives tied to the initiatives.

Measurable targets create a sense of purpose and direction, motivating employees to overcome inertia.

Encourage agile and adaptive structures

Rigid processes will inhibit change. Adopt flexible methods that can respond to change.

Agile frameworks enable businesses to adapt quickly to market shifts and evolving customer needs. Likewise, with any hierarchies that may exist.

You must break down barriers and management structures that impede communication and collaboration. Cross-functional teams and flat organisational structures foster agility and innovation.

Introduce continuous improvement

Don’t be afraid to ask people what they think about your business!

Embrace continuous improvement by refining processes based on feedback and lessons learned. This approach keeps the business adaptable and responsive.

Staff need to know they are listened to. Implement feedback mechanisms that allow employees at all levels to contribute their insights and suggestions. Regular feedback loops provide valuable insights for refining strategies and processes.

Good luck

Overcoming inertia in business is a continuous journey that requires commitment and leadership.

It's about fostering a culture of innovation, empowering employees, embracing change management practices, and maintaining an agile and adaptive structure.

By understanding the root causes of inertia and implementing these strategies, businesses can break free from complacency and drive towards sustained growth and success in an ever-evolving marketplace.

 

READ EMAG











ABOUT THE AUTHOR
David Brown

Contributor • Retail Edge Consultants


David Brown is co-founder and business mentor with Retail Edge Consultants. Learn more: retailedgeconsultants.com

SAMS Group Australia
advertisement





Read current issue

login to my account
Username: Password:
Rapid Casting
advertisement
Jeweller Magazine
advertisement
SAMS Group Australia
advertisement
© 2024 Befindan Media