5 ways to adapt your business to change
In business, nothing is certain. It's a gamble business owners must be willing to take. A company's ability to roll with the changes and innovate during trying times speaks volumes about its quality performance. BVTI shares five ways it has adapted to change with success.
How BVTI finds success by rolling with the changes
1. Hire creative problem solvers.
A company is only as strong as its employees. By hiring people with creative problem solving skills, businesses are able to innovate and modernize to maintain cutting-edge practices. BVTI seeks out people with experience in finding alternative solutions to provide best value to its federal clients.
“We want employees who are solution-oriented,” says Scott Deibler, VP of Humans Resources and Security. “They need to be creative. We look for examples of where employees have found alternative solutions to issues and problems. We don't want to keep going down the same path and doing it just because it has been done that way in the past. Our company name is Best Value. We want to provide best value.”
2. Build a quality reputation.
The surest way to grow business is by providing quality services and meeting the needs of clients. Success in one job contract or area can lead to recommendations for other contracts. Building a quality reputation means building a network of connections.
“In the government contracting market, we work in a hyper competitive environment,” says Cheryl Warner, Vice President of Business Development. “On a daily basis we are trying to prove our worth alongside large companies and companies that have a special niche. You always have to be on your game. Past performance, reputation, and customer feedback is everything because at the end of the day, that's how you end up getting your business.”
3. Strive for a small company culture, no matter the size of your business.
A small company culture promotes communication with employees and greater access to decision makers. This allows a business to be more nimble and flexible in adapting to change. Employees are able to voice their opinions and suggestions, and contribute to the day-to-day operations of the company. Although BVTI is a growing company, it strives for a small company culture.
“If you don't have layers and layers of management, things can get done quickly and smoothly, and ultimately we can provide the best value for somebody,” explains Deibler.
4. Report on operations.
Changes in business are often uncontrollable. In order to adapt to change, business must manage the variables they have power over. BVTI carefully analyzes all the steps of its program management and operations with a monthly report for its federal clients. The report allows BVTI to address any concerns or issues before a problem occurs.
“The customer should never see a red light,” says Scott McCrae, Vice President of Operations. “A red light means that we ran the yellow and didn't address it. So always, if we hit yellow, we are addressing it right away so that hopefully it is back to green before the month ends.”
5. Plan for the future.
Unfortunately, there is no crystal ball in the business world. However, analyzing market trends and data can help set plans in place for growth in the future.
“I think a real testament to BVTI as a small business is that we anticipated a lot of market trends,” says Cheryl Warner. “Many large business and federal contracting businesses had massive layoffs and industry-known partners were downsizing, but BVTI was growing.”