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  • Writer's pictureMonica Montgomery

"How to Stay Strategically Flexible in Your Business: Tips for Adapting to Change and Seizing Opportunities"

Strategic Flexibility

Yoga helps with circulation. Stretching helps relieve tension. Exercising helps with endurance. So what’s common between all three: FLEXIBILITY! All of these health aspects benefit our bodies and they all have a common result of improving flexibility. Our body lets us know the specific areas that are tight, tense, sore and weak.

The same thing happens in business. Economic behavior can change monthly, quarterly and yearly and it will test our business each time. The best way to combat this is to be flexible. Changes that are out of our control, such as economic behavior, have a way of making or breaking a business but there’s a solution. Have strategic flexibility! Let’s learn how with a few solutions:

Ways to be flexible:

➢ Review how business systems are operating now compared to how you want them to

operate. If there are disconnects or unsatisfactory sections in it, such as automated

communications with customers, make those adjustments to improve onboarding.

➢ Consumer trends change daily and sometimes hourly. Focus more on educating your

customers with industry facts, build a connection with them with relatable information or

keep up with “national days” to maintain their attention. Trends change, but learning your

customers’ problems and needs will always stand the test of time.

➢ Adopt resources that make innovative sense. When new technology arises to help

comprise all your business needs in one suite, then take advantage of it. Not every new

innovation is a threat to your business so learn how to incorporate it in your business

model as a benefit towards saving time.

➢ Pay attention to what your customers are spending their money on and what they have cut out of their budget. Offer sales, discounts, referral incentives or instructional videos that

will maintain their loyalty while using the least amount of business work hours.

➢ Research if the change is temporary or long term. For example, consumers had less

household money to spend during the Fall of 2022 which prompted them to cut back on

luxuries. Fast forward to Summer of 2023, they will have more money to spend and are

more likely to travel and shop online. This short term effect may have slowed down sales,

but did not require a major change to your business model.

➢ Take heed to suggestions. Sometimes we can get stuck in managing our business the

same way over and over and don’t take advantage of changes when needed. In order to

grow, some models, operations and thought processes have to change. Adjusting to

change is uncomfortable, but is financially necessary. Don’t risk your business falling

behind competition only because you neglected suggestions.

Remember, being flexible makes it easier to stay relevant during changing trends. Assess weak spots, research purchase power, and adapt to new technology.

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