2011: Adapt or Else

[Entrepreneur] Never has the phrase “change is the only constant” felt more apt, and never has it been more important for businesses to be agile and ready to adapt.

Resisting change isn’t an option.
When circumstances throw sales into a tailspin, business owners face two choices: spend unrecoverable time resisting — waiting and hoping for the altered reality to “get back to normal” — or face facts and change with the times.
Here’s how business owners can use the acronym ADAPT as a guide to navigate around the disorienting realities of marketplace disruptions.

A: Assess the situation.
Work to gain a sense of how long the disruption is likely to last and whether it will have a temporary or permanent impact on your market or business. This will help you decide whether to plan short- or long-term business changes. Also, determine whether certain aspects of your business are affected more than others and whether, as a result of the crisis, there are opportunities that you can build upon during the time of turmoil. Read the full article here

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