There isn’t one industry or business on the planet that hasn’t had to change and adapt to the outside world. Whether this is due to technology, social norms, consumer purchase patterns, etc., companies rarely remain the exact same as they were when they first began.
It’s important to keep your business flexible and embrace change at all times, even if the unfamiliar makes you uncomfortable. Here are three reasons why you need to keep your business nimble and ready for change in a moments notice.
TECHNOLOGY IS ALWAYS THE FUTURE
Technology is probably the most obvious, consistent and drastic factor to impact businesses over the past 30 years. Veterans of all business types will tell you their industry looks nothing like it did when they first started – some say for the better and some for the worse.
So how do companies stay flexible when it comes to the forever-changing world of tech?
Technology has not only forced us to be flexible, but has also given us the gift of endless knowledge at our fingertips. Researching and staying on top of new tech upgrades for your business will not only keep your company ahead of the trends, but will also help you understand how technology can help grow your profits. Creating a flexible business model that invites change can result in employees being more open to following new, tech-based procedures that increase efficiency.
REACHING THE CONSUMERS – EVERYWHERE, ALL THE TIME
Reaching the consumer has changed, and chances are if your business isn’t flexible you’re currently having a tough time engaging with your target audience.
Talking to the consumer is no longer as easy (or as cheap) as a simple newspaper ad or radio spot. Though both methods are still effective and appropriate at times, they’re no longer the only go-to, must-haves of your consumer outreach strategy. Flexible businesses know this, and they know how their consumers shop and how to reach them.
Being flexible gives a business the ability to pivot from one method of communication to another depending on the audience. Being flexible means you’re not afraid to jump from digital marketing, to TV advertising, to social media advertising, to traditional PR and everywhere in between.
Consumers will not bend and adapt for companies – its up to the company to bend and adapt to the consumers.
As everyone knows, partnerships are not overly uncommon in the business world. Chances are at some point your business will partner with another company, a distributor, retailer, influencer, or non-profit organization for a mutually beneficial initiative.
Having a flexible point-of-view when approaching a potential partner will increase the likelihood of getting that symbolic, end-of-meeting handshake. While it’s important to go in with a vision and solid plans, be sure to make room in your plans for your potential partners’ visions as well.
Being able to adapt and bend your strategic plans to fit the objectives and goals of others (along with your own) will make your business one that others want to work and collaborate with, ideally leading to mutual success.
Though change can bring a whole slew of uncertainty and uneasiness, it can also lead to some really incredible advantages. Becoming more efficient, reaching more consumers and stronger partnerships are just a few of advantages of having a flexible business model.
keep in mind that the more flexible you are, the more tricks you can do!