Course Corrections - Chapter 7(a) Changing the direction of your business - A three part series

When business gets offtrack, a small shift can change everything. Course Corrections delivers sharp insights, strategic advice, and real-world stories from the frontlines of business — helping owners navigate with confidence, and control. 

Chapter Seven(a)

Changing the direction of your business - a three part series.

Introduction

Every business owner reaches a point where they ask themselves: Is this the right path? 

Sometimes the answer is yes, and the strategy is simply refined.

Other times, the realisation strikes that the business needs a course correction, be that a small, medium or significant change in direction - aka 'a pivot'. This can feel daunting, but it’s also a moment of opportunity.

Changing direction in business isn’t failure.

It’s about recognising that the weather has shifted and it's become necessary to adjust your sails to keep moving forward and not run aground. And from your businesses perspective that has come about either through market demand, technology, regulation, customer behaviour, or your own growth as a business leader.

What This Series Covers

This is the first instalment of a three-part series on navigating business direction change:

1. Part One:  Understanding the practical and financial aspects of changing direction (this post).

2. Part Two:  Handling the mental and emotional realities including the impact on you and your family.

3. Part Three:  Rebuilding momentum and thriving, turning change into growth.

Following this series will guide you through not just the watershed moment of realisation, but the what it feels like, and how to thrive once the direction change is underway.

The Realisation Moment

The decision to change direction often arrives suddenly, though it’s usually been building in the background for some time:

• A product that once sold steadily is now struggling.

• Your services no longer match what clients are asking for.

• Or perhaps you’ve outgrown your original model and can see a better way forward.

This moment comes with mixed emotions: relief at acknowledging what you already suspected, but also a little bit of the fear of the unknown.

Business owners who embrace this turning point early often avoid

prolonged frustration and loss of momentum.

The Practicalities of Change

Shifting direction doesn’t mean discarding everything you’ve built.

Instead, it’s about reworking your existing foundations into something stronger.

Some key considerations include:

• Business Model Adjustment – Map out how revenue will flow differently and what costs are involved. Financial modelling tools, such as cash flow forecasts, are essential to see whether your new direction is viable.

• Operations and Logistics – It often requires rethinking and rebuilding systems. For example, if you decide to focus on online delivery rather than face-to-face, you’ll need the right platforms, support processes, and technology in place.

• Brand and Messaging – A change in direction may call for a refreshed brand identity, new website, or updated marketing collateral. These aren’t cosmetic extras; they are practical tools to signal clearly to your market who you are and what you now stand for.

• Team and Skills – Ask whether your team has the skills required to deliver on the new direction. If not, will you retrain, recruit, or outsource?

• Stakeholders – Think about who else is affected by this change: staff, suppliers, customers, or partners. Early conversations build trust and reduce resistance, making them allies rather than obstacles as you change course.

Readiness for Change

Before action comes readiness.

A successful pivot depends not only on finances but also on whether your people, systems, and culture are prepared.

Ask yourself:

• Do we have the leadership capacity to steer this?

• Are our systems adaptable enough to support change?

• Is the team’s morale strong enough to absorb new expectations?

Answering these questions honestly gives you a clear picture of where you need to shore up support before making the leap.

Financial Considerations

Money is often the sharpest edge of a businesses change in direction.

Costs will come from rebranding, new technology, retraining staff, or even restructuring your offerings. At the same time, revenue may dip while your market adjusts to your new position.

This is why financial planning, along side your strategic and business planning, is critical. A well-prepared cash flow forecast and a simple profit-and-loss projection will highlight how long your business can sustain the changeover period. Access to credit or reserves may provide the buffer you need to transition without panic.

But it's not all risk; it can also unlock new revenue, and a greater opportunity to grow.

For example: A café owner who moves from focusing on dine-in trade to offering specialty wholesale baked goods may incur initial setup costs but could gain steadier, higher-margin income streams once established.

Retaining Momentum

The greatest risk in changing direction is stalling midway—too far from where you started to return, but not yet far enough into the new course to see results.

Retaining momentum requires:

• Clear Milestones – Break down the change into achievable steps, each with a deadline.

• Communication – Keep your team, clients, stakeholders, and yourself informed. Clear communication reduces uncertainty and builds trust.

• Review and Adjust – Course corrections aren’t one-off decisions and singular action. Continual review helps you adapt as the new direction unfolds.

• Anticipating Resistance – Not everyone will cheer for change. Create space for feedback and address concerns openly so that doubts don’t become roadblocks.

• Measuring Success – Track both financial outcomes and non-financial signals like employee engagement, customer response, and operational efficiency. These indicators often show progress before the bottom line does.

A Simple Example

Consider a local IT support business that started out focusing on “fixing problems” for small companies. Over time, they realise most of their value comes from helping businesses prevent issues through system design, staff training, and cybersecurity planning.

This shift requires:

• Rebranding from “IT Rescue” to “IT Solutions.”

• Building consulting packages instead of hourly call-outs.

• Investing in training staff to become educators, not just technicians.

• Rolling out a new website and adjusting pricing.

  
  

The pivot involves costs, retraining, and a period where traditional clients may hesitate. But with thoughtful planning and considered implementation, the business builds a more sustainable model with recurring revenue and a stronger reputation as a partner in growth, not just a “fix-it” service.

The Positive Outlook

Changing the direction of your business is not a setback it’s an act of leadership. It shows adaptability, resilience, and a commitment to long-term sustainability.

While the road can be challenging, it also holds the promise of renewal and potential.

When handled with clear planning, financial foresight, and an understanding of the emotional realities, a new course or approach can transform uncertainty into incredible opportunity.

Looking Ahead

In the next part of this series, we’ll explore the emotional side of changing direction, the mental toll, the highs and lows, and how to find peace with a decision that changes everything.

Changing direction carries weight, but you don’t have to carry it blindly.

The journey is challenging, but with the right approach, your course correction can become the very decision that strengthens your business for the future.

Till next time, cheers!

John 

Lost Digits

Navigating Business.