From the course: Cultivating Mental Agility
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What to do when the situation changes
From the course: Cultivating Mental Agility
What to do when the situation changes
- It's the nature of today's changing business environment that sometimes, often in fact, things don't work out the way you predicted. With practice, we can get better at making those predictions, but we can't get perfect. So what do you do when the situation unexpectedly changes? The first question to clarify is how accurate your initial assumptions were. In some cases they may have been clearly wrong, so you'll need to change course ASAP. Demand in a certain region may be way down because of a natural disaster, for instance. But in other cases, it's more subtle. Your predictions may not be right yet. For instance, you may have predicted 15% annual growth for a new service, but it's been slower to gain traction. In those situations it's not as clear cut, so you want to monitor carefully to see if the trend line is up and whether it's just taking a bit longer than you thought, or if you were, in fact, just wrong. That's…
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