Technology has changed our workplaces. Businesses are built on a “move fast and break things” approach rather than a traditional, long-form approach.
There is no time to waste on following specific rules. We have to break out of certain habits. So, how you respond as a leader to unanticipated changes in the market is important.
Here comes one important trait, Adaptability. How well a person reacts to the change is an important skill. Adaptability is a form of intelligence, and adaptability quotient, or AQ, can be measured and improved.
As you become a more adaptable leader, you will be able to build a more adaptable team.
What is the adaptability quotient (AQ)?
According to Advantage, from a business standpoint, AQ is “the ability to adjust course, product, service, and strategy in response to unanticipated changes in the market.”
It has become increasingly important for a business to be able to easily adapt and rebuild its business model as its customers’ needs change with the market.
Failure to adapt to change will distinguish the winners from the losers.
On a personal level, AQ is a skill that refers to a person’s ability to adjust their behaviors and actions in response to a new situation. Being adaptable is being able or willing to change in response to changing circumstances.
Natalie Fratto is an investor, writer, and educator who believes in the value of adaptability. She is an angel investor who is looking for signs of one certain quality. It’s the ability to adapt.
How do we assess our adaptability?
Natalie’s three strategies for assessing adaptability in founders were particularly interesting to me:
Ask ‘What if …?’ questions instead of asking about the past. ‘What if …?’ force the brain to stimulate.
Challenge what you presume to already know.
look for people who infuse exploration into their life and their business.
Adaptability is essential for success in a constantly changing digital world.
As individuals, communities, businesses, and even governments, we are being challenged to deal with more change than at any other time in human history.
Each of us can become more adaptable by asking “what if” questions, actively unlearning, and prioritizing exploration over exploitation can put you in the driver’s seat.
So, you are ready the next time something big changes.
Tell me about a time you had to do something you had never done before. How did you approach this situation, and what did you learn?