Beginning a journey can be exciting – and daunting! This is especially true when one is embarking on a journey of transformation. But how can you make sure that your journey towards transformation in your business will be successful? What steps are necessary to take in order to get your business where you want it to be?
“When it comes to the first step in any successful transformation, the very first one that we would recommend is finding your why,” says Angie Lanham-Love, CEO of Lanham Love Consulting “The why’s of transformation are obvious – when implemented correctly, B-BBEE supports job creation, global competitiveness, and economic growth. It also has the potential to reduce the burden on entrepreneurs and help to create a more skilled workforce. In addition, your B-BBEE certificate has also become your licence to trade. As such, beginning your B-BBEE journey is just good sense.”
“Next, we would suggest documenting where your business stands right now,” says Lanham-Love. “Knowing the ins and outs of your business is an excellent way to establish what it is your business needs exactly in terms of transformation, as well as how to maximise your return on investment. By doing so, Lanham-Love Consulting can ensure that your business receives 125% recognition for every Rand spent.”
Every journey has a destination, and your transformation journey is no different. “It is vital to set your expectations for your B-BBEE future,” says Lanham-Love. “After all, how can you determine whether or not you have been successful unless you have an idea of what success looks like for your business? Do you want to reach Level One B-BBEE status? Does your idea of success look like a diverse, educated workforce that has been empowered? Answering these questions will also help with step three in your transformation journey.”
“Step three is, quite simply: have a map,” says Lanham-Love. “Like any journey, getting where you want to go is far easier when you have an idea of how to get there, and that’s where having an excellent transformation strategy in place is imperative. This is why Lanham-Love Consulting offers an annual consulting service, that consists of a workshop to design and set the ‘best fit’ B-BBEE strategy for your business for the current year.”
“Having a map also allows you to see how far you have come,” says Lanham-Love. “We run a high-level gap analysis every quarter and assess where we are in terms of the transformation strategy you have put in place. At your quarterly reviews, we can adjust and tweak the strategy as required. The final quarter is the rating quarter, where we prepare all the required documentation for the rating with you. Taking stock of where you have succeeded – and where there is still room to improve – is a vital aspect of transformation.”
Transformation is a journey – one that is challenging, ongoing, worthwhile and very rewarding. If you need help getting your transformation journey started, speak to Lanham-Love Consulting, for B-BBEE transformation that works for you.