“Change” is replacing one thing with something else. “Transformation” is the word for a dramatic change from one entity into another.
After COVID, most businesses that have come out on the other side have truly transformed themselves from what they once were into entirely new entities… and there’s no going back.
These businesses and their owners have transformed how they complete their entire day-to-day operations. They did what they needed to survive, and now that we’re on the other side, they can refine their strategies and begin to thrive and grow.
Small to medium-sized businesses and even larger corporations have been able to adapt to whatever last year had thrown at them and began putting their specific controls in place. Strategies have been adjusted, plans have been changed, and entire businesses have been pivoted.
Ask yourself, as a business, did you capture innovation and intention last
Have you put controls and tools in place to support you when you need them the most? If your country or city is in lockdown again, how would you handle it?
It’s time we take this opportunity to create formal strategies to outline our business’s new ways of operation so we can track our progress and monitor our growth. This will help us continue to improve during times of uncertainty.
By now, you’ve probably also realized whom you want to surround yourself with.
Being in the company of creative, collaborative people that stimulate ideas and faced the challenges of 2020 head-on is where you want to steer your ship. And if you’re still not in this mind-frame, you might want to evaluate your leadership capabilities.
The fact is, if some business leaders had met those challenges with less resistance and worked on pivoting their operations, they may not have suffered as many consequences. Embracing change can be difficult when processes are not flexible or transparent. This makes valuable insights difficult to
come by and makes making informed decisions regarding your business next to impossible.
Try transforming your business when you are 3 months behind on the books… it’s not looking so easy now, is it? Many businesses don’t even know where they stand financially until taxes are due. They could be dead in the water and not even know it.
Leveraging technology to help make informed decisions.
Leaning on technology can make these types of transformations much easier, and more insightful. By connecting to your cloud-based accounting software, you can run scenarios or access insights that would have previously taken weeks to prepare.
Worried about another scenario playing itself out in 2023?
Collaborate from afar with your team or share important insights with your financial advisors/accountants. Whatever the use cases, make sure your cash flow is covered.
Pinnacle Accounting is your partner in your company’s transformation.
The opportunity lies in the numbers, and your time is valuable. Connect with me if you want to learn more. Feel free to visit the website www.pinnacleaccountinginc.com, email me directly at email@example.com, or click the link below to schedule an appointment.
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