There are few businesses (business concept, start-up, growth stage or mature stage) that can exist (sustain or grow: TCM believes that if a business is not growing, it’s dying) without specifically addressing change/change potential in its marketplace.

There are two facets to this.

The first is that an owner must have a method for recognizing change. Such methods should capture global, national, regional and local perspectives on major trends impacting an industry as well as the companies within an industry. Such methods should also capture the techniques, strategies and tools used by others operating successfully (or not-so-successfully) in or near an industry. The ‘personality’ behind an active strategy designed to recognize change includes having a well-developed ability to handle multiple perspectives, the ability to rely on the input of other people acting on behalf of a business owner, the willingness of the business owner to admit that others may have important information (or have a better way of doing things), etc.

The second facet includes having the ability to develop business strategies (creating, selling and profiting from the sale of product) that work while facing change. The personality of the business owner must include the ability to utilize the strengths of other people, the ability to lead in a credible and trustworthy fashion, the willingness to collaborate with other businesses, the willingness to communicate throughout an organization and to the marketplace, etc.

Businesses fail to continue to profit in the marketplace when change and the execution of strategy involving change do not align.