Change is Your Only Constant: Embrace Adaptability
By: A Staff Writer
Updated on: Jul 09, 2024
Change is Your Only Constant: Embrace Adaptability
Remember when the pandemic hit? Businesses that adapted swiftly survived, others didn’t. That’s the entrepreneurial reality.
We crave stability, but the market doesn’t care. Clinging to outdated plans leads to disaster.
- Plan for the unplanned: Leave some “wiggle room” in your strategy and budget for pivots.
- Question your assumptions: “We’ve always done it this way” is a recipe for obsolescence.
- Stay on top of trends: What’s happening in your industry, and adjacent ones? Sparks new ideas.
- Experiment often: Trying new things on a small scale makes big changes less scary.
- Diversify if possible: Multiple income streams = less vulnerable to one single market shift.
- Embrace the learning curve: Adaptability is built with each new thing you master.
What unexpected change forced you to adapt your business, and what did you learn?
Pick one area of your business that feels too rigid. Brainstorm 3 ways to make it more flexible.