This is an update to a blog that we wrote a decade ago. Similar themes, different actors. Still relevant.
Is the fear of change holding you back? You are not alone.
Entrepreneurs today may have a well-earned reputation for risk-taking, but once we have a modicum of success, we tend to turn into a timid bunch — or, at least, reluctant. We’ve figured out what works for our initial growth, so we start relying on that status quo experience, often refusing to recognize changes appearing on the horizon, resistant to noticing what’s right in front of us.
“The only constant is change.” —Heraclitus
As brand advisors to consultants, professional service firms, nonprofits, and other B2B advisory firms, we often see the fear of change take hold in our clients. Where we see it most is when we’re addressing a rebrand or brand updates — brand name, brand identity, and positioning strategy. (Learn more about the difference among these marketing terms here). While so many CEOs are ready to take risks in hiring new leaders or launching new products and services, many are quick to dismiss the value that a rebrand could offer. They feel themselves tied to the “brand recognition” they think they have, unknowingly limiting their opportunity for growth. The problem is this: when making decisions, many of us focus only on what we have to lose rather than all that we could potentially gain.
And heck yeah, it’s scary. Change is scary. Loss is scary. Our brains work hard to fight change; plus our habits, which have helped us succeed so far, are powerful and efficient (read more in this great Entrepreneur article). You’ve worked hard to establish a reputation and grow. But what are you missing out on by not taking a closer look — a more objective look — at what you might gain by changing things up?
I share these thoughts as we work with several clients who are in the midst of great change. Some have let their website content get stale. Another is expanding its product and service capabilities and is ready to have more impact. Still, another had such a fundamental shift in her life and her work in the last three years that she knew she needed to make a big shift in her brand presence, too. Each of these businesses was uncertain, but are leaning into the potential vs. the unease.
I’ll never forget the client who swore, more than a decade ago, that he would never change his business name. He was fearful of the loss of brand equity. Upon closer examination, including brand perception inquiries with important stakeholders, he discovered there was a lot of confusion about the brand, even internally. He decided to not only change the name but completely rethink his business model. With our help, he honed, renamed, and realigned the core company, developed a spin-off company, and rebranded both — each of which has grown exponentially.
What our exploration did fundamentally, was enable him to focus more on the possibilities and potential gain that a name change and rebrand would offer.
This name change and rebrand ultimately allowed his entire team to regroup and speak from the same set of brand values. It helped to differentiate the company in the marketplace and brought new pride to the team. Sharing that new life, that new story, became part of the excitement now shared among all of the staff, clients, and prospects, which created more excitement within the industry. When done correctly, a rebrand can be the event that breathes new life into an organization, reassures existing clients, and helps attract new ones.
“People underestimate their capacity for change. There is never a right time to do a difficult thing.” – John Porter
When seeing change in terms of what you have to lose, your focus is on staying safe, avoiding mistakes, and fulfilling responsibilities. All honorable pursuits. You’re hanging on to what you’ve got and that’s okay, but it likely won’t help you grow.
If, instead, you see change in terms of what you might gain, your focus is on moving forward, maximizing potential, and reaping the rewards. It may require more of a leap of faith, but it’s also about creating opportunities for success.
Neither approach is wrong. However, the latter is an approach that can energize an organization and propel it forward.
So how can you learn to embrace change for the sake of your future happiness (and impact), particularly when it feels risky or uncertain? The answer is surprisingly simple: when you think about making a change, choose to focus on all that you have to gain, rather than what you might lose.
In the ever-changing business landscape, a brand refresh can be a powerful tool for staying relevant and connecting with your audience. By embracing change, fine-tuning your unique brand essence, engaging stakeholders, crafting a compelling story, and updating your visual identity, you can reestablish meaningful connections with your most important stakeholders. To find out if it’s time for a brand refresh, read more. And if you’re ready to talk change (big or small) reach out to team insight180. We’d love to work with you!
