Covid-19 didn’t just gently rattle the tree. It shook it with great force – unsettling the global economy and dethroning big brands previously considered impervious to adverse economic conditions. How to future-proof your business wasn’t on anyone’s radar and yet, in just a few years, positivity has turned to paranoia.
As if that wasn’t enough we are now in the midst of a recession – meaning how to future-proof your business is at the foremost of most people’s minds.
Read on to find out how to protect your business by:
- Becoming more agile
- Listening to feedback
- Anticipating trends
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Can you really future-proof your business?
Yes, there are steps you can take to safeguard your enterprise. Here are just a few that’ll help you get the proverbial wheels in motion.
How agile is your business model?
Businesses are changing at a rapid rate which means improving operational excellence has never been more important. Here’s how to future-proof your business by becoming more agile.
#1 Leadership
How responsive is your leadership team to uncertainty? If it takes change in its stride and, indeed, sees it as an opportunity to grow (rather than retreat and hide) then agility is embedded into your business’s DNA.
#2 Reactivity
Adapting quickly to changing trends or practices is essential if your business is to successfully surmount future challenges. Are your operating models designed to help you react to future crises like Covid-19?
#Culture
Great leaders and reactive operational strategies aren’t enough. If you want to know how to future-proof your business look at its culture.
Consider:
- Does everyone buy into your vision?
- Do they endorse your methodology?
- Are they living your values?
Your business is only as good as its people. Invest in them and your future is almost guaranteed.
What are people saying about your brand?
So you’ve got a strong leadership team, robust operational practices in place, and the full backing of your hard-working team. But what do your customers think?
#1 Request, collate and review feedback
Keen to know how to future-proof your business by requesting feedback? Here are just a few simple tips that involve little to no effort.
- Email surveys to customers and ask for their opinion
- Use exit pop-ups on your website to get crucial intel
- Scour web forums to get raw unfiltered opinions
- Read the comments on your social feeds
Don’t forget, your employees are customers too. So make requesting feedback from your teams a regular habit and acknowledge their efforts.
#2 Review analytic data to spot trends
Search engines are your friend. That’s because they tell you precisely what prospects are looking for – the good and the bad.
Consider the following terms pulled from ‘People Also Ask’ on Google Search:
- Problems with composite doors
- Why do composite doors crack?
- Can a composite door be repaired?
These insights are manna from heaven for a composite door installer. Just think how much better the firm would become at objection handling – knocking back no’s with practised ease and bumping up conversion rates.
Are you anticipating future trends?
Implicit in the question ‘how to future-proof your business?’ is the importance of upcoming trends. That way you can plan ahead – instead of reacting too late and rushing an idea through in haste (thereby losing crucial ground to a competitor).
Here are three examples of future trends you might want to consider…
#1 Sustainability
Is your business green enough – or could it do more to reduce its carbon footprint? The future is green and firms that don’t keep up will play second fiddle to those with robust environmental policies in place.
#2 Workforce
Three years ago the idea of working from home couldn’t have been further from people’s minds. And yet it’s now the norm. If you still rent expensive offices then now’s the time to cut back.
Other considerations might include:
- Looking at ways to attract and keep new talent in a market where transience has become the norm
- Prioritising employee wellbeing by providing mental health support and celebrating diversity
- Advertising salaries early on in the recruitment process to avoid losing strong candidates
#3 Technology
Technology links back to point two. Working from home is only possible with the right tech set-up. If circumstances so demanded, could you switch workers to remote work without costly and time-consuming disruption?
You should also start thinking about how to future-proof your business by using Artificial Intelligence (AI) to improve service delivery, recruitment, and marketing – taking pressure off your teams and improving speed-to-market.
If preparing for 2023 and beyond is high on your agenda, get in touch. We’d love to help your business take its next big leap into the future.
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