Survival of the Fittest
Beetles have survived centuries by adapting.
It’s a new year, and if last year taught us anything, it’s to always be prepared for whatever the economy has in store, good or bad. It’s a basic law of Darwinism: adapt, or you won’t last through the winter. The survival of the fittest is precisely why some companies have gone under (resistant to change, stuck in their ways) in these times… but others haven’t.
Financial Times published an article early last year that still applies now about how surviving the recession could be compared to Darwinism and how animals that adapted to their conditions survived. The Financial Times is quick to point out in the article that “It is not the strongest species that survives, or the most intelligent, but the ones who are most responsive to change.” Know what the most adaptable being on earth is?
The beetle.
Beetles are some of the most adaptable living organisms in the world, and have survived centuries because of their talent for adapting as the times change. Companies have to sharpen their points of difference to survive.
Bears are strong, but now endangered. Eagles are smart, but now endangered. The beetle, however, is still around, due to its adaptability. It’s something for business owners to think about, especially since the recession is still very much here for many businesses. Being stubborn, resistant to change, or just plain being in denial won’t help you or your business through a recession.
How is your business doing? Fill out the Business Health Check and find out if your business has what it takes to adapt with any and every market change.
Business Coaching | Stephanie Sims | January 7, 2010
adaptability, article, beetles, business, Business Coaching, business health check, caloric energy, darwinism, Financial, financial times, living organisms, recession, Times, woolworths, year
[...] As we’ve said before, the businesses that make it through the recession aren’t necessarily the most successful ones to begin with or the biggest, but those that adapt. This is something a lot of businesses and business owners seem to be having a hard time grasping. At the same time, several different industries are changing rapidly during this rough economic period, making some businesses even harder to stay afloat. For example, newspapers, magazines and print journalism are at risk of becoming extinct. [...]
I think what is interesting are some business owners are living in denial. I have always believed that optimism serves us well but what I have found is some folks have to put some realism in to their optimism. Yes one day the economy will change but it might not be for a few years and if that is the case what should I do.
Look at your financial statements weekly at the very least and cut, cut, cut costs to get them in line with sales. Be ruthless with staff. If they aren’t adding value then let them go.
Ask over and over where can a sell more? What markets are doing well? Where do I have to go? Ask yourself the tough questions and be flexible.
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