Adaptability is defined as “the ability to adjust to different conditions or circumstances.” I think we’d all agree that the last 18 months have been a crash course in adaptability! It’s also made us keenly aware of how important it is to accept that the future is unpredictable. While you can’t plan for the unknown, these three methods for embracing a more adaptable mindset can help you and your business prepare for whatever the future holds.
Hold Your Plans Loosely
Strategic planning—in business and marketing—are hallmarks of the successful appliance dealers we’ve met over the years. But one of the biggest lessons of the last 18 months is that sometimes the situation calls for a change of plans. When circumstances change dramatically or something out of your control impacts your business, you have to be willing to change course. Even as you develop your strategic plans for 2022 and beyond, make sure you remember that those plans should never be so rigid that you can’t or won’t change direction when you need to.
Think About Your Next Pivot
It’s impossible to plan for the unknown, but business owners with an adaptable mindset are always one step ahead. In good times, that might mean you’re already contemplating ways to reinvest in your business. But if things go south, have you thought about where and when you could pivot your business? It’s less about knowing what the pivot is, and more about sensing when it’s time to pivot. What metrics would alert you that a change might be needed? Who are the trusted voices you would turn to for advice? Knowing what steps you would take to determine the pivot is almost as important as the pivot itself.
Keep Looking Forward
Adaptable business owners are also curious business owners. They might not always be the first adopters of new technology or new industry ideas, but, in our experience, they are always watching and thinking about how those things might impact their business. They talk to other business owners and leaders and are not afraid to ask questions and learn new things.
Being an adaptable leader means that you see change—or unpredictability—as an opportunity to be prepared. As you finalize your business plans for 2022 and beyond, we encourage you to think about how you and your business can be more adaptable in the future.