Change is inevitable. How we adapt to change is our choice.
Many businesses and many lives have suffered due to an inability or an unwillingness to adjust to a new reality. There are many cases of this, from a global scale down to our own lives.
The Dangers of Ignoring Change
Climate change is the most impactful example of the dangers of ignoring a new world order. No matter what side of the political fence you are on, it’s impossible to ignore the daily reports of wildfires and extreme floods. No matter what the cause, there are steps we could take that would shift the course of history. Yet, we often just look the other way.
Kodak’s failure to alter its priorities from print to digital photography is a clear case of ignoring the truth of a shifting market. Despite being a world leader in the industry and creating the first digital camera, they went bankrupt in 2012, almost ending 124 years of pioneering discoveries. They are now making something of a comeback with smartphones and digital photography products. They regained some of that innovative mindset!
One of their biggest mistakes was that instead of paying attention to the news and research available to them, they ignored it all. They went on using the same business practices, unwilling to change their thinking.
“The thinking that got us to where we are is not the thinking that will get us to where we want to be.”— Albert Einstein
On a personal level, there are many instances of people ignoring health issues, only to find that if they had dealt with it earlier, there would have been more options and better outcomes. I have dealt with several examples in my life of friends who would have been much better off if they had not delayed acknowledging their symptoms.
We need to change our thinking! If you are willing to face the future with purpose and optimism, you navigate the inevitable changes more easily.
Our Story: Adapting in the Entertainment Industry:
Our company, TLA Entertainment Group, managed to stay in business for 33 years. We transitioned from movie theaters to video stores to online sales. Along the way we embraced all the technological changes of the film industry. We started with 35mm film reels, followed by VHS and DVDs, and then streaming. We were able to do this by willingly incorporating and moving to each new way of watching movies. Because of this flexibility, we stayed on top of the market, and we were able to sell for a huge profit in 2014.
A key element of our adaptability was our willingness to accept reality. Accepting reality doesn’t mean giving up, it means being flexible and open to change. We cannot begin to make the necessary pivots until we look at the situation realistically, objectively and with a positive attitude.
Many movie theaters went bankrupt with the introduction of videos. We quickly realized that this would happen to us unless we jumped on the digital bandwagon, which is exactly what we did. It worked hugely in our favor. We made far more money with the video stores than was possible with the theaters.
By getting over our initial shock, we were able to adopt video stores as our new format with enthusiasm and forethought. We dug in and formulated a new business model, using curiosity, research, and new skills.
Our entire executive team had a learning mindset that served us well. We studied the new technology, monitored the market research and proactively worked together to plot out our place in the new market.
Just as we have the ability to control our thoughts, we have the ability to choose how we see the future.
How to Adapt to Change
Maintain a Positive Attitude
Fear can hinder your ability to see opportunities in change. Remember – fear is False Evidence Appearing Real. When looking forward, we don’t even have evidence, we are relying on our imagination or negative predictions.
If we have a pessimistic outlook, we often miss opportunities.
Out of every adversity comes an opportunity. We miss the opportunity because we are focusing only on adversity. Optimize the opportunity, minimize the adversity!
The good news is that a commitment to continual learning can give us the skills we need to adapt to new developments.
Embrace a Growth AND lEARNING Mindset:
A growth mindset is the foundation to effectively adapting to change. This is a belief that your intelligence and abilities are not fixed, but can be developed through effort, learning and experience.
Actively seeking new skills and knowledge, not only equips us with the tools necessary to navigate unforeseen challenges but also fosters a culture of resilience and innovation within our teams. This proactive approach to personal and professional development ensures that we, and those we lead, are better prepared to adapt to change, making us more agile and capable of turning obstacles into stepping stones for success.
With the internet, we have more information that can help us approach situations with more creative problem solving than ever before. We can combine material from our studies across a wide range of subjects that can give us ideas we would not have had otherwise.
We can create a growth mindset by understanding that changes are opportunities, not threats. That’s what we did every time we experienced a technological revolution. We added the new products to our existing businesses and slowly transitioned to make them the primary focus, usually making more money along the way.
The most recent major shift has occurred with the introduction of AI. It is up to us to decide what we will think, say and do about it. The reality is that it is here to stay. We can accept and adapt or be left behind.
There are many benefits to consistent learning. As you can see from the business examples, staying informed works to your advantage. The same is equally important for us as individuals. Commit time each week to learning something new.
Study Successful Examples
We might gain knowledge of people who have faced similar conditions so we can reference their situations. We increase our library of viable options.
One truly inspiring example of adapting to change is that of Viktor Frankl. He spent years in Nazi concentration camps, an experience which could have turned him into a negative and bitter person. Instead, as he details in his groundbreaking book “Man’s Search for Meaning,” he discovered that even when confronted with the most brutal external circumstances, an individual retains the freedom to choose their attitude towards those circumstances.
For leaders and individuals alike, the lesson is clear: our power to adapt lies not in changing our external environment, but in changing our internal perspective. Frankl’s insight into our ability to overcome great suffering offers a powerful guide for navigating the inevitable changes and challenges life presents.
“When we are no longer able to change a situation, we are challenged to change ourselves.” ― Viktor E. Frankl, Man’s Search for Meaning
It is through embracing change and finding purpose in adversity that we truly grow and achieve fulfillment.
And as always, I am here to help! Find a time that works for you and let’s see how we can get you moving in the right direction.
