The skill of adaptability is one that is becoming increasingly more essential for success in the fast-paced business environment of today. Those who are able to prepare for and embrace change carry a significant advantage, able to continue thriving and growing in the face of uncertainty.
Marino Sussich is a business consultant that understands the value of this trait, recognising that companies who adopt flexibility at their core are most likely to succeed. Learn more about its importance and how to cultivate it.
Versatility has been identified as the key to success, while rigidity leads to stuckness, plateaus and failure that sees your business sinking into irrelevance. With ever-changing consumer demands and technology, staying up-to-date with changes in trends and needs of consumers and making internal adjustments to accommodate for these changes is more important than ever.
More than this, the ability to adapt does not just mean waiting for changes to occur and responding, but anticipating changes and creating flexible plans that allow for altered trajectories. This is necessary no matter your target market or industry, though it will be more essential in some than others.
You and your employees should be continuously learning and upskilling, with a growth mindset at the forefront. A culture of constant professional development will ensure fresh knowledge and familiarity with the latest skills that are necessary in their roles, equipping your team to adapt to new challenges.
Creativity and experimentation are extremely important when it comes to facilitating adaptability. There should be space created for exploration of new ideas, and the time to test new approaches to see what new methods may work better than the old. Calculated risks are catalysts for positive change, without which your business will remain stagnant.
Especially when hiring, make a point to focus on people who seem to possess qualities that display adaptability. Creativity, resilience and the ability to problem-solve are all traits that ensure flexibility and the ability to overcome challenges.
If a change does come into effect, it is important that this is communicated well. The context of the change should be provided so the team can understand why it is necessary, as well as details of what the alteration may mean for them.
To remain adaptable, it is crucial to consistently monitor market trends, emerging technologies and changing consumer behaviours. As soon as changes are predicted or perceived, it’s important to analyse whether your business is prepared for this change and, if not, how it can become more prepared.
Netflix is a prime example of a business that reacted to industry changes to excel and become more successful than ever. This originated as a service that delivered DVDs by mail. As conditions changed and internet-based video streaming became more popular, they adapted their services to accommodate and became a successful streaming platform.
Getting an idea of how your products, services and processes are performing from customers, clients, and team members is extremely beneficial to understand what changes could be made within the business. Conducts surveys and have honest discussions with anyone who is involved with or interacts with the business to develop a strong idea of what is working well and what could be improved.
When strategies and plans are developed, you should ensure you and your team are accommodating for unknowns. You should allow room for uncertainty over a rigid plan that does not allow for sudden changes.
You and your team should have a mindset that is prepared to face challenges and approach them with level-headed, solution-focused thinking. A plan B and C should always be on hold to be used when needed. Perspective-wise, you should try to view the bigger picture at all times and piece together a holistic view of the industry, your place in it, and the way consumers respond to your business.
If you are in need of advice to grow your business strategy and achieve your goals, Marino Robert Sussich is an experienced, international business consultant that can help you reach success. Contact him today.