4 Ways to Navigate Fast, Uncontrollable Change in Your Industry
If you’re in an industry that is changing at a rapid pace, you have to be constantly prepared to adapt. Unfortunately, this is easier said than done. Though often deadly, maintaining the status quo is a whole lot more comfortable.
Are you prepared to navigate the choppy waters of uncontrollable change in your industry?
4 Tips to Help You Face Change
As humans, we have a predisposition towards change. We live in a world where everything is evolving, yet despite this reality, we don’t fully accept change in our minds.
Our brains are the biggest stumbling block to our evolution—including the evolution of the business world. We’d rather sit back and do what we know than throw ourselves into a different scenario that’s uncomfortable to deal with.
If you want to prepare your business for change, you have to confront it head-on. Avoiding uncontrollable change will do you no good. However, it’s all in how you manage it. The following tips may help:
1. Be Nimble
Change happens fast, which means you rarely have the time to restructure your company, call a bunch of meetings, and implement new processes from scratch. While there’s certainly a key element of response in play, you must organize and manage your business in such a way that it’s able to change when the time comes. In other words, you need to be nimble.
2. Stop Focusing on Your Competition
Businesses often fall into the trap of focusing on their competition. Business owners can become obsessed with the different things their competitors are doing. According to entrepreneur DK Matai, this is a pretty big mistake.
“Becoming preoccupied with the competition is as short-sighted as it would have been for the dinosaurs to peg their survival on competition with the amphibians,” Matai analogizes. “The dinosaurs dropped out of the picture not because they were beaten by any other type of creature but simply because they could not respond successfully to the challenge of a changing environment.”
It’s okay to keep an eye on what the competition is doing. However, your primary focus should be on your business and how it relates to the evolution of your industry or marketplace.
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3. Prepare Employees
You can have a whole host of plans in place for how your organization will handle change and evolution, but it won’t matter if your employees aren’t on board. It’s the employees who will execute these plans. Preparing them in advance via training and education will help you remain agile in the midst of uncertainty.
4. Utilize Outside Resources
Sometimes you’ll have everything you need within the four walls of your organization to efficiently and effectively manage change. More often than not, though, you’ll need to utilize outside resources to be successful.
The healthcare industry is a great example of this. With changing payment models and constantly evolving regulations, leading healthcare organizations turn to outside resources to streamline change and promote greater accuracy. SA Ignite is a great example. The platform helps with analytics, compliance regulations, and even clinician performance optimization to make sure everyone is on the same page.
This is just one example. Whether you’re in healthcare, technology, consumer products, or something else entirely, accepting outside help is a sign of strength.
Promote Stability in the Midst of Uncontrollable Change
Change is going to happen, whether you like it or not. As a business leader, the best thing you can do is promote stability in the midst of uncontrollable change. The more calm, collected, and strategic you are, the better off the company and your employees will be.
Again, this is far easier said than done. Hopefully, however, some of the points in this article will give you something to build on.