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Episode 20 // Two Welcomed Ways Covid Changed How We Do Business

Championed by our friends at Community Futures Sunrise

Did COVID catch you off guard? You’re not alone. As millions of business owners were thrown into a tail-spin, many also chose to see COVID as a catalyst for necessary change.

Whether change is expected or not, planning for it smooths the transition. Today, we’re joined by NTN Pro, Yvonne Thevenot, Senior Advisor, Osborne Interim Management and Apaylo Finance, who shows us how to build a solid change management framework.

If you’re looking to learn from COVID, join us in #TheGabLab as Yvonne takes us through the basics of building a change management strategy and best practices we can implement for lasting and impactful change.

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Part 1 // The Costs and Consequences of Change

Ah, the irony. As Founders, we’re in the midst of change daily. Yet, so few of us consider the possibility of building a mechanism to better manage it.

Instead of constantly reacting to fires, Founders can build resilience to change by taking a proactive approach.

The only constant in life [and business] is change.

Today, Yvonne help us navigate the ups and downs change brings to our business, our team, and our bottom line. As the Greek philosopher, Heraclitus put it, “The only constant in life is change.” However, as Yvonne points out, planning and preparing for the inevitable can mitigate the upheaval.

In Part 1, Yvonne lays out the nuts and bolts of building a change management framework, understanding the bottom line impact (in terms of three key factors), and how input from your lawyers and accountants can put you on the right path as you navigate change.

// Download the Proposed Change Management Worksheet

Part 2 // Covid and the Customer Experience

Digital is top of mind with COVID forcing commerce into the online space. It's a transition that abruptly changed the customer experience, and now it’s up to us to manage it.

Unlike the early months of the pandemic, customers aren’t as patient as they once were.

Regardless of whether you're selling products or services, the procurement landscape has radically shifted, right along with customers' expectations. How user intuitive is your website? How clear and concise are your navigation channels? Do you have a feedback mechanism to collect data to help you measure and modify as needed?

Think of data as a language your business uses to communicate with you. You want the numbers when it comes to bounces, click-throughs, conversions. Yvonne tells us why data gives us the advantage when it comes to understanding and closing the loopholes in your clients’ experience.

You want the numbers when it comes to bounces, click-throughs, conversions.

Get ready to be schooled. Force Field Theory (pushing and resisting forces) is broken down for us by the Pro, while she expertly ties it back to the impact change resistance has on our clients and our bottom line. Join us for Part 2 of #TheGabLab as Yvonne takes us on a dive deep into how change management can drive and improve the customer experience and how Founders can play a key role in navigating that experience.

Part 3 // Honing In on Operational Efficiency

As with any crisis, we were forced to adapt when COVID hit. But did you notice, despite the chaos, how efficient we became with our resources; time, money, labour? Squandering came to an abrupt halt and processes were streamlined to meet customers' needs.

Now however, after taking a step back, you may be realizing the change isn't sustainable. Not to worry, this is where Yvonne sheds light on how to squeeze out profit while creating operational efficiencies that justify and enhance the customer experience.

From team and personnel, space and logistics, and sales and marketing, Yvonne take us across each operational area through the lens of a change management expert.

You can reach out to Yvonne below if you're looking to strengthening your change management game plan, and of course, subscribe to #TheGabLab to stay updated on the latest financial intel.

Wondering how change may impact your bottom line? Download the Cashflow Forecast Workbook and get your numbers figured out.

// Mic Drops

BOOM! We promised you intel to blow your mind and build your bottom line. Here’s our favourite mic-drop moments from NTN Pro, Yvonne Thevenot.

Drop us a comment below and let us know what landed with you!

  1. “[Change Management] is as simple as you’re doing something today, you want to do something different tomorrow, and how then, how you go from A to B in the most efficient and effective way possible?”

  2. “The truth is, not everything requires action today.”

  3. “When somebody's pushing to create a change, others will push back just as hard!”

  4. "People don’t always react the way we think they’re going to; there’s some predictability and unpredictability to it—so you plan, and then allow yourself to adjust."

  5. "Taking a moment’s pause... thinking about your company, where you're at today, where you want to be, and being planful about the change needed to get there, can really enhance your time to market."

  6. "An empowered team that as access to information and resources can find empowering ways to deliver a higher client experience, employee experience, and bottom line results."

// The Bottom Line

There's a highly awkward term in the land of change management called benefits realization. Essentially it means making the most of your investment [change], in the shortest time possible, with the least disruption to your business.

So the new CRM you just put in; how do you know your team's actually using it? That new piece of equipment that's supposed to make the line move faster; are you sure it actually is? That small start-up you just bought to increase your innovation; will you be sure there isn’t the risk of “organ rejection” as the new team joins the old?

A change manager will help you think through these impacts, ensure your team is ready for the change, and help you capture “financially fierce intel” informing you of when the change is working, when it isn’t , and what action to take if not.

// Time to forge your financial ferocity! Sign up and download the free tools and templates—compliments of our Champ!

About the Pro // Yvonne Thevenot

Coach, Mentor and Change Advocate

Yvonne Thevenot is a role model, coach, mentor and relentless advocate when it comes to business effectiveness, change management and performance excellence. Her consulting practice draws on extensive first-hand experience in change management as a sponsor of change, business lead and change manager at both strategic and tactical levels.

With degrees from the University of Manitoba and Dalhousie University, her passion for learning contributes to professional designations as a Professional Agrologist, a Certified Financial Planner, a certified mentor and an accredited change manager from two different global organizations.

Her consulting practice extends to a wide range of professionals in corporate, privately held, and not-for-profit businesses, in a variety of sectors, and with businesses at all stages.

About the Champ // Community Futures Sunrise

Community Futures (CF) Sunrise provides loans, advice and support to entrepreneurs and businesses in southeast Saskatchewan. With a mission to support the development of business in the region, CF Sunrise strives to offer innovative and customized financing and training options that

encourage business growth.

The board and staff are committed to helping entrepreneurs access the capital and training needed to create and grow successful businesses. Get in touch with CF Sunrise today. They’re here to help!

CF Sunrise is part of a network of 267 Community Futures offices across Canada. They have a rich history of helping businesses succeed. Community Futures - a Canadian Success Story

Connect //

GAB LAB CHAMP // Community Futures Sunrise // NTN PRO // Yvonne Thevenot // 1.416.358.6223

GAB LAB HOST // Taunya Woods Richardson // 1.844.844.3660

Have an idea for a Gab Lab episode? Looking for help with a specific topic?

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