#475 Adapting Your Strategy in a Changing Environment

#475 Adapting Your Strategy in a Changing Environment

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Way to go, guys. Way to go. Keep it

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going. Good job, guys. All right, Paul, I

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see you. Great job, guys.

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Hey there, it's Coach Cole here and

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welcome to the Today's Leader podcast

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building tomorrow's best leaders today.

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Now this is our final segment in the

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first group of episodes that we've come

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back with one and this one was all about

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strategic planning and vision. So

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over the last four episodes, we've looked

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at things like vision, goals,

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umm and alignment to organizational

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objectives. Today, we're diving

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into the critical final topic, which is

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adapting your strategy in a

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changing environment. As we know,

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change is inevitable in business

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and leadership, whether it's new markets,

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whether it's unexpected

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disruptions,Whether it's just

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evolving team dynamics, leaders must

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stay agile. And

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in this episode, we're going to look at

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why adaptability is essential and

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provide some practical tips to

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ensure that your strategy evolves with

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the times. So let's start with why is

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adaptability essential?So staying

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relevant is probably the

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most prominent thing. We want to stay

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relevant in the business world. So

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industry and customer needs change

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rapidly. We've seen this with the

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technology shift over the last 20

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years. A rigidly, A rigid

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strategy becomes outdated very

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quickly. We've got to look at seizing

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opportunities and that's why an another

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reason why adaptability is so important.

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Being adaptable helps you spot and act

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on opportunities as they arise.

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It also helps us build resilience. That's

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number three. Leaders who can adapt

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quickly can navigate challenges more

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effectively. And that

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helps them keep their teams focused and

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motivated. And the last,

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oh, well, number four, and it's not the

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last, there's many reasons why it's

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important. But the last one I'll talk

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about today is about fostering

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innovation. Adapting

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often sparks creativity as teams

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find new ways to solve problems and drive

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success. So in today's

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fast-paced world, adaptability isn't

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just a nice to have, it's a

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necessity in

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today's and for long term business and

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leadership success. So let's look at how

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we do that. Firstly, we've got to monitor

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the environment. We've got to stay

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informed around what is happening,

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whether it's market trends, customer

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moves. Industry changes.

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We've got to look at things like our

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industry reports, if there are any

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available. We've got to look at customer

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feedback. We've got to look at data anal

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analytics around, you know, what just

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what is happening with our websites, what

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is happening with our social media

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accounts. #2 is we've got to

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re-evaluate our goals on a regular basis.

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So we can't set and forget in today's

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world. We've always got to be agile with

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our goal setting. We've got to

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periodically look at our goals. We've got

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to look at our objectives and see if they

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still align with what is happening in the

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environment around us. Number three, we

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have to involve our team. Adaption isn't

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a solo effort. It's not just for you

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to worry about and to focus on, because

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many times the best ideas are going to

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come from your team. So we've got to

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encourage the team in the discussions

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that we have to think

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about. Change to think about

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positive outcomes, to think about why do

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we do things now and are they dumb

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and should we be changing them?We've got

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to experiment and test. That's another

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way that we can really start to build

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this adaptability, this agileness that we

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need. We need to not be

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afraid to make a mistake,

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not be afraid to try a new approach.

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We've got to start small. Limit the

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mistake if it's going to happen. But

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we've got to start small, we've got to

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measure the results and then we

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scale the project.

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And the final step is to communicate the

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shifts, right?So we want to keep our team

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informed about upcoming changes in

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strategy, changes in goals, changes in

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objectives. We want to clearly explain

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the. Why behind the adjustments so that

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we're building, continuing to build that

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trust and alignment with our

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teams. So when we think back

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in very recent history, consider how

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businesses adapted during the

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COVID-19 pandemic.

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We saw retail companies accelerate their

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e-commerce strategies. We saw coaches

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like myself adapt online

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coaching. And webinars to

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maintain and continue to grow our

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business. By staying adaptable,

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they we not only survived the

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disruption of COVID-19,

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but many also unlocked new

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revenue streams. So the lesson

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there is change doesn't need to be a

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threat. It doesn't need to be seen as a

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threat. With the right mindset and

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approach, it's actually a huge

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opportunity for growth. And that's why

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it's so important to follow the steps

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that we outlined before. So as a leader,

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your ability to adapt determines your

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team's ability to thrive in

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uncertain times. If you're fixed,

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it's likely your team are going to be

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fixed. We need to monitor changes,

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re-evaluate goals, collaborate with our

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team to stay ahead. So this week,

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once again, follow the link in the show

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notes for the key points and worksheet.

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But identify one area where you can

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adjust your strategy to better align with

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the current environment. Is one of your

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goals a cookie cutter that you just

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maintain year after year?Maybe that needs

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to change. So once again, just check out

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the link in our show notes. Hey, thanks

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for listening to this episode of the

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Today's Leader podcast. Remember,

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adaptability isn't about abandoning your

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vision, it's about refining it.

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To match what is happening in the world

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around us next week, make sure

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you tune in because we start our new

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journey on team dynamics and

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collaboration. Now, if you found value in

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this episode, please share it with a

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fellow leader. Let's keep building

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tomorrow's best leaders today. Until

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next time, I'll see you next week. Bye

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for now.