Genex # 9 – Adapt & Disrupt
Welcome to the ninth and final article in our Business Ownership Series
In this article, I’m going to cover the skill of adaptability.
Charles Darwin is quoted as saying the species most likely to survive isn’t the strongest or fastest, but the most able to adapt.
At the beginning of this article series, I talked about the challenges of business ownership, and how we need to be strong in a range of generalist skills, not just be a technical specialist in the thing we are passionate about.
I explained we all operate in fast paced, highly competitive markets – no matter what we do. And with the increase in technology, and a resultant increase in the pace of change in many markets, we have to be adaptable as business owners in order to survive and prosper.
There are three areas a business owner needs to be skilled in order to flex the adaptability muscle.
First, you need to be planning to adapt. Don’t think you can start a business and then robotically offer an unchanging product or service until you decide to close or sell your business. This will never work. By keeping an eye on the trends in your market, you can have a plan to adapt and be piloting new products, services and ways of running your business. This is the second area.
Once you’ve piloted new products and services, you then need to roll them out into your business checking of course that they have made a difference to your revenue, profit or ease of doing business.
Otherwise, they are not a successful adaptation and you need to keep looking.
Over the past nine articles, we’ve shared eight generalist skills that every business owner needs. These skills align with eight keep departments or categories of activity and organisation that occur in every businesss – strategy & leadership, marketing, sales, money, quality, people, service and adaptation.
Along with this, we covered the preparation steps to take before you even start your business. We trust you now have a working understanding of the range of skills and systems it will take for you to be a successful business owner.
For more information on my upcoming book – Generation Experience – or our workshops and programs for business owners – please visit www.silverandwise.org.au.
Best wishes, and we hope to hear of your success very soon.