Choice, Chance and Change in Business (NZ Guide for Buyers)

"You must make a choice to take a chance or your life will never change".

Although the quote comes from “unknown”, the person who said "Choice chance and change" clearly knew a thing or two about how to get the best out of life.

We all have things we would like to change about our lives – maybe we want to worry less about money, maybe we want to spend more time doing the stuff we love or maybe we want more control over how we live our lives.

The common mistake we’re all guilty of making at some point or another is to try to change the world. Forcing change onto people or things that are ultimately beyond our control is just an exercise in futility.

So, it all starts with a choice: do you want to keep banging your head against a brick wall or will you choose to shift your focus, turn the lens inwards and choose to take a chance to get the change you want?

What does choice, chance and change mean in business?

Choice, chance and change are three key factors that influence business success. Choice relates to decisions you make, chance refers to external factors you cannot control, and change reflects how you adapt over time.

Why are choice, chance and change important when buying a business?

They determine how well a business performs. Strong decisions, the ability to manage risk, and adapting to change are critical to long-term success.

Choice, chance and change is a business concept describing how decision-making, external factors, and adaptability impact business success.

How to Apply Choice, Chance and Change When Buying a Business

Choice: Select a business that matches your skills and goals.
Chance: Assess market conditions and risks before buying.
Change: Plan how you will improve and grow the business.

1. Make a choice

Life is about choices. What to wear, what to eat, where to live, who to love. And every move you make starts with a simple choice. Ask yourself: Are you happy doing what you’re doing now, in the short term and in the long term? Are you living the best life possible? Are you happy?

The best thing about actually making a choice is that YOU get to make it. Say for example, you are in a salaried job but you’re bored and unmotivated. Your attitude doesn’t go unnoticed and your employer lays you off. In this scenario, the decision has been made for you, which limits your ability to plan and make careful, considered decisions. You lose control.

2. Take a chance

Even if you choose not to change a thing, you have still made a choice, and with every choice comes risk – some more than others.

If you choose to change – maybe it’s time to be your own boss and buy a business, maybe it’s time to sell your business, or maybe you just want to try something new – you’re taking a chance. A chance for a better life. Sure, there’s a chance you could fail but not taking a chance also carries risk. The risk of not being truly happy.

3. Change your life

Now for the exciting stuff – change. It might be easy, it might be hard. It might be quick, it might take time. It might be straightforward, it might be complicated. Here are some tips to help manage personal change so you can adapt quickly and confidently.

Put yourself first – eat well, get enough sleep and remember what’s important to you.
Create a bridge –plan the process and ease the transition by starting slow.
Give yourself time – sometimes it takes us humans a while to catch up. That’s okay.
Be adaptable – things may not go the way you intended. Just change your plan and carry on.
Look for support – a bit of encouragement from the right people can go a long way.
Be realistic – change can be slow and the fruits of your labour may take time.

Finally, if you’ve made the choice, taken the chance and changed your life, don’t look back. There’s no point to ‘what ifs’ – just keep driving forward and keep your eye on the prize. You only get one life – live it.

Explore current businesses for sale in New Zealand to find opportunities that align with your goals.

Read our guide on top tips when buying a business to reduce risk and improve outcomes.

Frequently Asked Questions

What is the meaning of choice, chance and change?

It refers to how decisions, external factors, and adaptability shape business outcomes.

How does chance affect business success?

Chance includes economic conditions, timing, and unexpected events that impact performance.