Published By Janet Gershen-Siegel at June 5th, 2018
By Janet Gershen-Siegel
Do you know how to operate your company adaptively? Change can be scary in a company setting. But what if it wasn’t unnerving? What about if, instead, it was the rule? What if the only constant was change? Here are some ways to make change and adaptation your business’s best buddies.
Establishing a company isn’t for the faint of heart, and if you’re not trained to take a loss every once in a while, you most likely won’t last. Some of the most successful business people had at least a few failures before they triumphed. You’ll be in good company if you’re one of them.
There are times to let things go. And then there are times to really champion your company. Do you know the difference between these times? Many businesses have learned too late that a never-give-up frame of mind is the only way to prosper in this cut-throat environment.
These same small-scale companies are shocked when they are met with the obstacles of unfair regulations, higher taxes or fees, and an oversaturated market. They carry on with business as usual, wishing that the circumstance will pass and things will work themselves out.
A good business owner knows that being passive rarely ends conflict, however. Meeting your challenges head-on is good practice for future difficulties and is often the only way to address the most debilitating small business headaches.
It can be dangerous to lose your focus by always thinking about what your competitors are doing, but there is some value in checking the competitive landscape on a regular basis.
Knowing what other companies are doing to keep customers happy and services relevant isn’t just intelligent — it’s necessary. Get to know many on a first-name basis, and you’ll have no choice but to keep on trend with the industry you hope to succeed in.
Many small companies start as family affairs, but this advice isn’t limited to actual families. There is value in putting fierce dedication at the top of your business plan. Rewarding the long-term workers in your company with promotions and partnerships isn’t just more effective than introducing an outsider for every single job opening. It can also save you thousands in training and culture adaptation costs.
Before you do that external search, ask yourself: “do we already have the best person for the job?”
It’s nice to set goals to broaden your earnings and become a larger business, but it’s foolish to reject the benefits of being a scrappy start-up. In fact, there are just some things that are simpler when you are young.
Errors are simpler to navigate and correct; new ideas could be implemented without tons of red tape. A lean framework and family culture can also help you be more adaptive to your customer specifications.
It pays to operate a company adaptively.
There may be nothing more irritating to a customer than an unrealized promise. Regrettably, in the time of social media, empty promises may have never been more common. This makes it an ideal age to support your marketing campaign with the type of service and quality offerings you make every effort to be known for.
Forget solely using buzzworthy Facebook ads to develop a legacy. Because deliverables are a clear way to set apart your company in a time when it’s just too easy to let customers down.
If your customers are entrusting you with their cash, you’ve already done much of the hard work. Don’t lose that trust by not continuing to offer value.
Exactly what special add-ons, services, or extras can you effortlessly give that will enhance your customer’s perception of the brand? Take some time to truly analyze why they come to you, and then strive to give them five times that benefit.
Exclusive offers, loyalty clubs, and thank you gifts still work in a time where everyone is competing for repeat business. Conjure up something that’s too good to ignore.
Still don’t like change? It’s coming anyway. It’s long past time to roll with the punches. Operate your company adaptively — you’ll be glad you do! Share this and tell your friends what you think of how to live your best financial life.