Adapting To A Changing World

Adapting To A Changing World

Adapting to a Changing World

Even before the Coronavirus, the world had been rapidly evolving. Sometimes it’s difficult to keep up, but keeping up is vital for sustaining your business over the long haul, as being adaptable is more important than ever. Being prepared to handle every curveball that comes your way takes thought, strategy, and the ability to be agile with your current processes.

Here are some thoughts to help you get through turbulent times.

Flexibility 

Being flexible means you can pivot when needed. It means you can adapt on the fly. The restaurant industry had to do just that to survive due to the pandemic shutting down in-house dining. Many have made the pivot to safely prepare and provide their food curbside for customers. Flexibility can come in all forms. It may have something to do with your manufacturing process, or your ability to have work from home employees, or even your ability to sell originally in-person, goods, and services online. Whatever your business, keep thinking about how you can pivot and diversify to meet the changing demands of the market at any given time.
Conservation

Businesses that have good protocol around the conservation of time, money, and work are served well when the market changes with a downturn. They are able to utilize what they have conserved when needed, rather than succumbing to a reactive mode. No one can control the changes in the marketplace, just like no one can control the weather, but you can choose how you react to it. It’s not about beating the bad weather, it’s about learning how to survive and even thrive in unpredictable weather.

Understand What is Changing and Why

When everything is changing around you, it’s important to understand exactly what those changes are, and how they will affect your business. It’s also important to understand why changes are taking place as this can help bring clarity to what the duration and permanent outcomes may be. Today there is more work from home employees than there likely has ever been. We understand why, and now we need to understand what the lasting outcomes will be when this pandemic is over. Will it require the work from home flexibility to continue? Likely. When you understand these outcomes clearly, you can be prepared to shift as needed.

Update Your Systems and Software

When you rely on systems and software to do business, you need to make sure that they are all up to date as much as possible. If you are trying to compete on systems or software that have been out-dated for some time, you are putting your company at a disadvantage and even at risk. Simply put, you can’t afford to let your technological initiatives go stagnant.

Steady Improvements

Making it a priority to improve gradually and incrementally will serve you well. Rather than aiming for one rare revolutionary change, it’s more effective to simply keep moving in the right direction. Regardless of the type of business you run, there are always things you can improve upon, so focus on filling your gaps, and improving shortcomings each week. All of these incremental strides will add up to make your business stronger.

There is no easy answer to how you can keep focused on improving when you’re simply trying to keep up with the many changes that are taking place. However, staying on top, retaining relevance, and growing market share is not for the faint of heart, and so this can turn into a competitive advantage if executed properly. Staying flexible and being able to pivot quickly according to the market will help you fulfill on your company’s potential over the long-term.

About The Author: Victoria Manuel is a strategic consultant with Elite Holding Co. and has more than 25 years of experience leading business initiatives in all areas of organizations, positively affecting both Top and Bottom lines. 

For more information www.eliteholding.co or call us at 612-888-3583

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