Market change makes it feel as though we’re dodging lightning bolts. Changes are coming at us from every direction. I worry something unexpected could seriously harm the company I’ve worked so hard to build. It’s getting harder to steer clear of the storm clouds. How do we learn to adapt better and faster to change?
Thoughts of the Day: Staying ahead of the market change curve requires knowing where you’re going. And knowing what ground to cover to get there. Make sure you have the right tools and people to get where you want to go. Check that everyone is communicating opening and productively across all levels. Imagine and test new ways of doing things. Know what success looks like. Set measures to strive for, both short and long term. Be a cheerleader without getting in the way of real change.
Market change strategies to consider
The pace of change is continuously accelerating. That leads to increasing uncertainty and confusion. Just because something works today, will it still be relevant tomorrow? As owner/leader of the organization, your job is to teach your team how to deal with constant change effectively.
Have a destination that everyone agrees to. Hash out any immediate disagreements over the final destination before setting off. Make sure everyone knows and is on board with the big picture. Building a roadmap helps people to stay on point. Layout short, intermediate, and long-term goals. Develop action steps and assign them due dates. Note who will be responsible for what.
Make it easier to deal with potential problems by preparing ahead of time. Use meetings to discuss what might disrupt plans. Gather ideas and encourage debate. While disagreements are okay, set a time limit to prevent participants from getting stuck. Put every idea possible on the table. Discuss critically what might and might not work. Demand that all participants do their homework and present suggestions as well as critiques.
Outside perspective is essential
Allow people to test ideas. Make sure they know what it is they’re trying to accomplish in the market change. And how they expect to demonstrate if something is a success or a diversion. What to do if the team runs out of ideas? Can’t see clearly what is coming at them. Or can’t imagine how to deal with the challenges they’re facing? Encourage them to bring in outside help. Whether you’re looking at adding consultants or employees, make sure the candidates have experience. Bringing in help is a big step toward finding that solution when dealing with the challenges your company is facing.
If budget is a concern, think about the costs of making a big mistake because your organization doesn’t know enough about what it’s trying to do. Usually, the cost of mistakes is significantly greater than the cost of adding talent to avoid problems.
Know when to cut off the debate and get moving. Sometimes the perfect solution isn’t obvious or available. Test multiple solutions by assigning people to groups. Demand all groups to openly share what they’re learning.
When one test fails or is stopped in favor of another, bring people back together onto one team. Hold a meeting to explain why one solution is being adopted and another abandoned.
Build on previous studies in a changing business environment
Ask people from all teams to commit to supporting the selected direction. Make it clear that regardless of which team’s solution is being selected, it’s all one team going forward. Check to be certain everyone is on board.
Make sure you can access, record, and track data. Use it wisely to tell you how things are proceeding through market change. Decide ahead of time what indicators will show if progress is being made. Figure out how to keep track of information in real-time. Convert data to graphs that are easy to read and post them where everyone can see.
Recognize the efforts of all team members. Avoid having winners and losers by celebrating the failures as well as the successes. Know that some ideas will succeed and some will fail — and that only by trying will the organization learn the difference. Thank everyone for their participation, dedication, and commitment. Stay on point with the long-term goals. Remind everyone of the rewards — personal, professional, and organizational — to be had when those goals are achieved.
Looking for a good book? Try “Organizational Change: An Action Oriented Toolkit” by Thomas “Tupper” A. Cawsey, Gene Deszca and Cynthia Ingols.
