Even if you had a crystal ball to look at some of the large shifts that are coming into the business sector, you really want and need one. You just need to look at what business experts and futurists are saying to determine what is going to shape the future of our country, as well as our world – plus what role you will actually play in that shift.
Therefore, given the cloud of uncertainties hovering around the businesses all across the globe, it would only be pragmatic to evolve strategies that can help businesses sail through the tide of these uncertainties smoothly. Given below are 5 Ways To Future Proof Your Business .
You need to think about partnerships and not transactions
When people profit from transactions, this is going to be much more difficult as the years pass by. Outside partnerships could actually be the best way to scale your company in a much faster manner. The tremendous success of companies like Apple, Microsoft and other Fortune 500 companies can be attributed to the fact that they focussed on developing global partnerships.
“One of the main lessons I have learned during my five years as Secretary-General is that broad partnerships are the key to solving broad challenges. When governments, the United Nations, businesses, philanthropies and civil society work hand-in-hand, we can achieve great things.” Ban Ki-moon
You need to change how you are structured
The atypical command and control structure of a hierarchy is not going to work as it did before. The classical approach of Unity of Command, Unity of Direction, Hierarchy etc. propounded by classical gurus of organizational behaviour is outdated. There has been research that has clearly shown that when you have smaller and leaner teams, staffers will need to all keep their eyes on the same proverbial ball. You need to look at horizontal structuring, keeping your team connected, and having everyone focused on the same goal.
Though quoted by numerous experts on a daily basis, this remains one of the biggest factors which determine the success or failure of businesses. There are some experts that believe us the world becomes more globalized, micro payments are going to be made much more often. The companies that use this structure are going to be able to impact the largest number of individuals and also solve problems that may not have been easy to solve before. The CEO of XPrize specifically stated that “the easiest way to become a billionaire is to find a way to help a billion people”.
Offer your experience and not a product
Shopping has become a tricky arena that has been commoditized, and is going to be very difficult to build a business since fewer people are relying upon physical stores. You are going to need to prioritize customer service departments, and make it easier for customers to interact with you using the Internet. It’s also going to be difficult for companies to stay in business if their number one priority is not customer satisfaction. Here are some good tips from Capita IT resourcing.
Focus On Helping Millennials
Millennials are going to be the individuals that will literally dominate all future leadership roles and they simply need to be prepared for what is to come. Some studies have shown that staffers want much more formal men touring, and more detailed training, so that they can know the business inside and out and also feel more engaged. It is important to put mentors with staffers with on boarding programs so that they can begin to understand your company, and in turn, contribute to the business in a way that will develop long-term profitable results.