Change is never pretty

“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”
Charles Darwin (English Naturalist and Author of the theory of evolution by natural selection. 1809-1882)

So can be said for businesses. It’s not how much capital you have (we all know companies with what seemed like unlimited capital resources that have folded) or a dominant market position that guarantees survival. It’s the ability to adapt to an ever changing market and finding opportunities in these changes.

So when do you chuck the business plan and head off in a new direction? Well, that’s a tough one. It's always a good idea to revisit OODA Loops when strategizing in a changing market.

• Observe – What is the market doing? How are your competitors reacting? How is this impacting your sales?
• Orientate – Based on your observation, what direction should your business take? Lower prices, develop new channels, develop a new product line or service?
• Decide – This is the big one. You can analyze the market for six months, and when you are through - it will have changed, again. It’s more important that you make a decision, than being stuck in decision mode while your competitors are seizing the moment.
• Act - Do something!! You’ve made decision, now move forward!! The market is changing, if you don’t – you will be left behind.

What if you make the wrong decision? So what? It’s a loop. If you made the wrong decision, you’ll observe this in the market’s reaction (or lack thereof) to the change you’ve made. You’ll re-orientate and continue the loop process.

The theory is that this is a continuous process and the quicker you can move through the loop - and thus re-orientate in response to a change in the market – the greater your company’s chance for success.