Create Adaptable Strategy

"Inconsistencies of opinion, arising from changes of circumstances, are often justifiable."
  --- Daniel Webster

What a difference a year makes! This industry is always in transition. The changes that have occurred, most of them positive, caused us to modify the way we do business. The obvious change, technology, presented new opportunities for some and headaches for others. Those not willing to embrace the changes are sometimes left playing catch-up to the competition. Those not anticipating the changes lose the chance to make significant profits.

Other changes such as new tax laws, sign regulations, and changes in the economy put us all in a state of "what's next" in regards to running our businesses. Staying on top of these changes takes energy and time that we would rather dedicate to other projects.

"Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency."
  --- Ben Bernanke

Many of the sign company owners we talk with are a lot like the economy. They roll with the punches and bend and twist in order to adapt to the changes. Many of them are very resilient and know that in order to grow they must continue to anticipate change and implement changes in their business as part of the adaptation process.

"I've worked for four presidents and watched two others up close, and I know that there's no such thing as a routine day in the Oval Office."
  --- Dick Chaney

In some of the older classic movies, the man goes off to work at the same job, doing the same thing he did for the past 20 or 30 years. Not much changes and he retires having done a good job, the same way… forever.

Of course, life is not the movies and we are indeed in the Information Age that progresses at warp speed. Our businesses will never be the same as yesterday and we have to accept the fact or watch the business die an agonizing death.

"A visionary company doesn't simply balance between idealism and profitability: it seeks to be highly idealistic and highly profitable. A visionary company doesn't simply balance between preserving a tightly held core ideology and stimulating vigorous change and movement; it does both to an extreme."
  --- Jim Collins

The foundational values of your business should remain the same. Since you took the time to study, write, and re-write your values and mission statements, they are not subject to change. They are the guiding tools for all future business decisions. They are designed to be carried through every business climate you encounter.

Your business strategy is different. It is bendable, changeable, moldable, and capable of being completely scratched and re-written several times over. This is the one tool that some business leaders get stuck on. They tend to follow it come hell or high water, and they usually follow it there.

"It's through curiosity and looking at opportunities in new ways that we've always mapped our path at Dell. There's always an opportunity to make a difference."
  --- Michael Dell

Spend a few minutes each month to re-examine your business strategy. Is it in line with what is happening in the world today? Are you still making leisure suits when everyone is wearing business casual? Do what you can before the end of this year to keep your finger on the pulse of our industry, the economy, and the world. Read more, attend more association meetings, etc.

"Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while."
  --- Jack Welch

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