Steve Billingham: Thoughts on change

Steve Billingham assesses advisers’ attitudes to change as the RDR gathers pace.

Change, for many people, can be a difficult thing. It can be both exciting and scary. Old habits die hard, and that is often why change programmes meet resistance, stall or fail.

But, perversely, in my experience many people want to change their lives or their business in some way, but find it difficult to get started or to sustain the change for long.

Personally I relish change. I find it stimulating, refreshing and energising. But despite the fact change is inevitable, particularly in the countdown to 2012, there is still incredible resistance to change both inside the industry and in the people around us, such as our staff and our clients.

So against that backdrop, what are the key elements of successful, sustainable change?

Overcoming your own inertia

Everyone suffers from some degree of inertia, a resistance to change, especially significant or disruptive change. It is said a journey of a thousand miles starts with a single step so, faced with significant change, the most effective and sustainable approach is one step at a time. That way, it is not difficult to get started but it is also easier to sustain and build on. Drastic change in one fell swoop is unlikely to succeed. Start with the first step.

Overcoming the inertia of others

This can be even more difficult to beat than your own inertia. Very often people do not welcome change. Their attitudes can have a negative or even destructive effect, but it is important to get them on your side by asking for their help and input, providing appropriate training, or finding ways to mitigate the impact on their lives. At the end of the day however, those who can’t change (capability) and those who won’t change (conduct) need to be managed out sensitively.

Play to your strengths

Doing something you hate or are not particularly good at is possible for a while but difficult to sustain. Harness the strengths of each individual and play to them.

Celebrate success

Each step along the way is a success, a victory, no matter how small. So don’t get discouraged by what you haven’t accomplished. Instead, reflect on how far you have come and celebrate what you have achieved.

Make it a habit

Change is only sustained when it is embedded and has become part of your daily personal routine or business process.

Don’t fear failure

You will fail from time to time but don’t be afraid to. If you are not failing occasionally, you are not learning. So fail, fail often and learn from it. You’ll be better equipped and informed for the next attempt.