Fast-growing companies today share a common trait: adaptability. In an era of rapid technological change, the ability to pivot and adapt to new market conditions is crucial. Companies need to be prepared to alter their business models, products, and services to meet evolving customer needs. Notably, Netflix transitioned from a DVD rental service to a streaming platform, and then to a content creator. This adaptability has been key to its success.

However, adaptability isn’t just about changing products or services. It’s about fostering a culture of innovation and learning, where employees are encouraged to take risks, learn from mistakes, and continually improve. It’s about being agile and responsive, rather than sticking to a rigid plan. This requires a shift in mindset, from viewing failure as a setback to seeing it as a learning opportunity.

To cultivate adaptability, companies need to hire for it. This means looking for employees who are curious, open-minded, and comfortable with ambiguity. It also means providing ongoing learning and development opportunities, and creating a supportive environment where people feel safe to experiment and innovate.

In conclusion, adaptability is the most valuable trait shared by today’s fastest-growing companies. It’s not just about surviving in a changing market, but thriving in it. Companies that can adapt and evolve are the ones that will succeed in the future.

Go to source article: http://singularityhub.com/2016/04/01/this-is-the-most-valuable-trait-shared-by-todays-fastest-growing-companies/#.VxZ0YjN4FpE.twitter