If there’s one thing humans really hate, it’s uncertainty. We can do everything possible to predict the unknown but for most things, it is what it is.
One of the biggest drivers of uncertainty is unpresented change. Change can be both good and bad. Sometimes we know it’s coming and other times it’s a surprise, like uncertainty.
Every industry has its risks. And it’s simple—if a business owner does nothing, they will get nothing in return. A successful business owner sees the risk and takes chances, even though uncertainty is uncomfortable and scary.
Every day changes across industries are affecting businesses across industries. New discoveries, technologies, surprise loses—it’s all uncertain. So how, with the intimidating nature of uncertainty and change, can a business owner stay grounded and successful? The simple answer—be flexible and have a plan in place.
Be Alert
Being flexible is to be agile and ready to pivot at any time. Business owner or entry level employee—it pays to be self-aware and observant. If an issue arises or a big change is coming, the best quality to possess is adaptability. An observant employee notices these issues or changes and takes initiative to switch focus. Acing task prioritizing will help in handling these uncertainties. In addition, though it can be difficult, businesses should be proactive rather than reactive in constantly moving industries.
Read More
To be successful in an ever-changing industry, regardless of which industry it is, business owners need to be in the know of changes and trends in their industry. The easiest way to do this is by reading. Read trade magazines and books. Read business newsletters. Read the major newspapers and magazines. In doing so, business owners will know about updates and new changes first. Keeping up with the news also helps in understanding consumers and their behaviors. Don’t keep a blind eye or assume you know all there is to know.
Strength in Numbers
The saying “It takes a village” could not be more accurate in the business world. Regardless of how many people are in company, a one-person company relies on others just as much as multi-location business. A good team that cares helps to be flexible in evolving industries leads to more diverse conversations in strategy sessions or more hands on deck if problems arise. In addition, team members who feel like what they’re doing for their company actually matters increases employee satisfaction, ultimately improving efficiency when tackling industry transitions.
Stay Current with Technology
Technology is one of the most common reasons industries are advancing so fast. Every day major tech companies are rolling out products and updates. To remain flexible, pay attention to relevant product releases and check for software updates often.
For managing changes in restaurant industries and retail industries, be sure to utilize the latest point of sale terminals. Modern POS softwares are cloud-based with many capabilities like inventory management, labor management, trend analysis, and more.
Innovative Thinking
Those who reject change often are unable to think creatively and fall behind. If conventional solutions are not working for current issues, find new methods. Make it collaborative and encourage the team to throw ideas into the ring. Find the most fitting new solution by testing with drawings, lists, maps, pros and cons, physical objects, research, or whatever seems necessary but attainable. Don’t be afraid to play around and have some fun.
Reassess Business-Model
After big news or an unexpected change shakes thing up, it might help to re-evaluate goals and other aspects of the business-model. Company goals that lead to success should match or be more innovative than the industry average.
Don’t fall trap to the intimidation of the uncertainty of fast changing industries. Instead, stay one-foot ahead by being the reason why the industry is ever-changing and let competitors be the ones playing catch-up.
