THRIVING AMID MARKET TURBULENCE: MASTERING THE ART OF ADAPTABILITY

The concept of "Improvise, Adapt, Overcome" a motto from my favourite Clint Eastwood war movie "Heartbreak Ridge", has served me well, both during my time in the services and in my professional civilian career. It embodies the importance of adaptability and resilience, and it's as relevant in business as it is on the battlefield, especially in times of market volatility. 

UNDERSTANDING ADAPTABILITY 

Today, we find ourselves in the midst of turbulent market conditions. The economic climate is changing rapidly, and so too, must our strategies and actions to stay afloat. Charles Darwin’s immortal words echo louder now than ever, "It is not the strongest of the species that survives, nor the most intelligent. It is the one that is most adaptable to change." 

Yet, what does it mean to be adaptable? 

Following on from my article about building resilience, it's important to understand the differences between resilience and adaptability. Although they are closely connected, they are not the same.

Resilience is our capacity to bounce back from events beyond our control, a reactive response to hardship. Adaptability, on the other hand, is more proactive. It is our ability to thrive in new environments, to transform adversity into opportunity, and to bounce forward, not just back. 

We all know people who are highly adaptable. They are the curious ones who are continuously planning and looking ahead, constantly running experiments to discover new ways to solve problems. 

They’re the ones who see failure as a learning opportunity, knowing what to take from the experience to reinvest in the next experiment. In doing so, they are highly resourceful. Where resources might be tight, they find a way to work with what they have to get the job done. 

Adaptable people are able to control their emotions, not letting new frustrations control their reactions but taking a calm approach to assessing the situation and coming up with an appropriate response. 

Adaptable people have an open mind and are willing to assimilate the views of others before making a decision. What they don’t do is blame others for their misfortune or whinge about their predicament. 

In the ever-shifting landscapes of life and work, adaptability isn't a mere luxury – it's an essential survival skill. Like all skills, developing your adaptability muscle needs work, so let's delve into how to build yours.  

Resilience is our capacity to bounce back. Adaptability is more proactive.

It is our ability to thrive in new environments and to bounce forward, not just back.

EMBRACING DISCOMFORT: THE FIRST STEP TOWARDS ADAPTABILITY 

Greek philosopher Heraclitus famously said, "Change is the only constant in life." From the cost of living crisis to the advancements in AI, change indeed surrounds us, affecting us both individually and in our businesses. As Royal Marines, we were taught to embrace discomfort and uncertainty, an attitude that is just as vital in the boardroom as it is in the field. A refusal to adapt, combined with clinging to old ways, is a sure path to failure.

Building adaptability begins with the mindset of "being comfortable with being uncomfortable". 

It starts with recognising and acknowledging what makes you uneasy in any given situation. Often just acknowledging that you are uncomfortable will give you tremendous control over any new situation. I find it helpful to note down how I'm feeling and what specifically is causing discomfort. Such reflection often brings the challenge into perspective, providing the first foothold to overcoming it. 

Equally important is sharing your feelings with trusted confidants. Their perspectives can offer a fresh view, enabling you to shift your perception of the situation. It's through such introspection and dialogue that we can truly begin to adapt, ensuring we emerge from current challenges stronger than before.

BUILDING YOUR ADAPTABILITY SKILLS 

Fortunately for us, adaptability is not a fixed quota but a set of skills we can learn and develop. It's not a single muscle but a complex structure that we can train and enhance. Here are five key skills that will help you become more adaptable:

1. The Power of Perpetual Learning:  As humans, we're wired for lifelong learning. By continuously acquiring knowledge, both personally and professionally, we stay ahead of the game and prepare for future challenges. Cultivate a curious mindset, be inquisitive about what is happening around you, ask questions and seek answers. Embrace new technologies and learn by doing.  

By mastering "Deliberate Calm", we can navigate turbulence successfully, understanding and regulating our emotions and responses.

2. Mastering our Reactions: Life is unpredictable. When things go wrong, our reactions often define the experience. By mastering "Deliberate Calm", as suggested by HBR, we can navigate turbulence successfully, understanding and regulating our emotions and responses. When confronted with a new challenge, take a deep breath. Don’t feel that you have to come up with a solution there and then. Acknowledge that you don’t have all the answers and take time to think before reacting. Your measured response will help others deal with the situation in a more positive way. 

3. Seeking Different Perspectives: Remember, "A problem shared is a problem halved." As social creatures, we thrive when we interact with others and seek their viewpoints. In doing so, we open ourselves up to new ideas. It helps us identify biases and blind spots while extending the problem-solving toolbox to build a shared understanding of how we might solve this vexing problem. 

4. Exploring Creative Solutions: Persisting with unsuccessful methods in hopes of a different outcome can lead to despair. Try thinking outside the box, consider different perspectives, and leverage your creativity to forge new solutions. Explore other industries and companies that have had to deal with similar problems. Build an experimental mindset by testing new ideas quickly to determine which are worth investing in. Test and learn, then iterate and go again.  

5. Building life stamina: Life is a marathon, not a sprint. It's crucial to remember this, especially in stressful times. Mental stamina comes from nourishing the mind as much as it does from the body. It’s about knowing when to pause and recharge. When possible, take a walk or head to the gym to clear your mind and process any new challenge. I often devise my best strategies while engaging both my body and mind, such as when playing solitaire on an exercise bike.

“It is not the strongest of the species that survives... It is the one that is most adaptable to change.”

IMPLEMENTING ADAPTABILITY: A PRACTICAL GUIDE

In the pivotal scene from "Heartbreak Ridge", the newly assigned Gunnery Sergeant Thomas Highway, portrayed by Clint Eastwood, is tasked with leading a group of unruly Marines. One morning, a commotion arises among the squad over what t-shirt to wear for their morning run. The platoon, used to their casual ways, is exasperated by this seemingly trivial yet unexpected challenge, bemoaning, "How are we supposed to know what to wear?"

It's at this moment that Gunny Highway delivers a line that's since become iconic, a mantra of resilience and adaptability. Coolly and decisively, he advises his flustered squad to "Improvise, Adapt, and Overcome." 

This scene is a constant reminder to me that It's about more than just choosing the right shirt; it's about finding a way to deal with uncertainty to figure out a solution when the direction is not clear. It's a reminder to be resourceful, flexible, and creative – the very essence of adaptability. This ethos has been a north star to me ever since, guiding me through challenging situations throughout my life. 

So next time you find yourself in a pickle, unsure of which way to go, remember Gunny Highway’s words. Improvise when things don't go according to plan. Adapt to the circumstances instead of waiting for them to adapt to you. And always, always work to overcome by never giving up.

Improvise, Adapt, Overcome is not just a mantra for soldiers but a guide for anyone navigating the volatile landscapes of today's world.

THE POWER OF ADAPTABILITY

Remember, to adapt is not merely to survive but to thrive. Adaptability transforms us, allowing us to emerge from our trials stronger and wiser. As the world around us continues to change at an unprecedented rate, the need for adaptability becomes increasingly essential. Just as the armed services train to adapt to any situation on the battlefield, so too must we train to adapt in our professional lives.

The battlefield might seem a world away from the boardroom, but the lessons learned there are universal. "Improvise, Adapt, Overcome" – this isn't just a mantra for soldiers, but a guide for anyone navigating the volatile landscapes of today's world. Embrace change, adapt, and you'll be well-equipped not just to survive but to thrive, no matter what comes your way. Remember, as Darwin observed, "It is not the strongest of the species that survives... It is the one that is most adaptable to change."

Share your strategies for building adaptability below, and let's apply these principles to our professional lives, meet the changing tides head-on, and transform these challenges into opportunities. Let's shape our ARC - Adaptability, Resilience, and Creativity, to not just survive but thrive amid this market turbulence.

Good luck to you all.

Phil