AMA
Playbook

5 Ways to Future-Proof Yourself and Your Business

January 1, 2015

future-proof yourself and your business crop

According to research by IBM, continuous change is the new normal in business. Five years after this study, titled Making Change Work, was first published, one might argue that it’s also more normal than new. Today’s management professional is increasingly being forced to do business in a commercial world that’s becoming unpredictable and uncertain on an unprecedented scale. Clearly, thriving in such fast-moving and highly-disruptive environments therefore requires leaders to adopt an equally new and novel approach to strategic thinking, and skill set to go along with it. Following are five ways to future-proof yourself and achieve ongoing success, despite the constant remodeling you and your enterprise now face, as discussed in my new book Make Change Work For You: 10 Ways to Future-Proof Yourself, Fearlessly Innovate, and Succeed Despite Uncertainty.

  • Whether an individual or organization, relentlessly seek ways to expand your capabilities and comfort zones. The more you do so, the more you’ll learn, grow, and extend the range of experiences, insights, and resources you and your enterprise will have to call upon, whatever scenario you face. The bigger your professional toolbox, the better, as learning to mix, match, and recombine these tools and talents as highly dynamic scenarios dictate (i.e. improvise), the more flexible you’ll be. And in an ever-changing business world, unless you’ve got a crystal ball that works, flexible is about as close to future-proof as you can get.
  • Create a business environment of trust and cooperation where coworkers feel comfortable not only bringing rising issues or opportunities of interest to management’s attention, but also sound ideas for addressing them. (Listening to one’s customers is proven to be the single best source of innovative new ideas that leading innovators enjoy, and providing better platforms for workers to share and translate these ideas into action their leading source of competitive advantage.) The more readily you can provide frameworks that allow insights to be shared throughout your enterprise, and acted upon, and the more readily and rapidly you can align resources toward common goals, the more agile, adaptable, and innovative you and your enterprise will be.
  • Routinely reinvent yourself or your products and services, and create more room to maneuver. Ask yourself: Can your solutions be easily repositioned or repurposed to serve additional audiences or market needs? Are the insights and skills you bring to your employer applicable in only one department, or could you easily extend them to other areas of opportunity? (Say, by bringing your eye for user-friendly packaging design from the marketing team to engineering or product planning departments.) Don’t be afraid to rethink your value proposition, and how to strengthen or extend it. Remember: In the eyes of customers, value and relevancy are always moving targets.
  • Don’t just run neck and neck with rivals: Look for ways to pull ahead of the pack. Consider what tomorrow’s customer will want – then put the capabilities, resources, and solutions required to meet these future demands in place today. Plan for the worst of times in the best of times: While you’re doing well is the best time to be extending your reach and experimenting with new strategies and solutions. Also: Play a portfolio of ongoing strategic bets (new business ventures, shifts in strategy or pricing, original products and services, or extensions to existing lines, etc.), and keep readjusting based on the results generated. Use each successive effort as a learning opportunity: The more market feedback you get, and the faster you can fine-tune your products and services based on it, the more rapidly you can adapt to find success.
  • As you go about making decisions, don’t forget to factor in opportunity costs – dollars alone don’t tell a complete tale. For example: It may cost more up-front to replace your existing software development infrastructure and implement a new framework today. But if the new framework allows you to easily add features and updates by adding quickly installable, plug-and-play upgrades? The value you get over a long-term horizon may far outweigh initial costs. Similarly: When making decisions, apply strong, but weakly-held opinions. Gather as much business intelligence as possible, then make a decision – then adjust your decisions to be more informed as more detailed feedback is gained.
Related Posts Plugin for WordPress, Blogger...
You need a sound strategy to keep your business alive and well. Learn more leadership tips from these AMA resources and seminars.
avatar

About The Author

Award-winning professional speaker Scott Steinberg is a bestselling expert on leadership and innovation, and the author of Make Change Work for You: 10 Ways to Future-Proof Yourself, Fearlessly Innovate, and Succeed Despite Uncertainty. Among today’s leading providers of keynote speeches, workshops and seminars for Fortune 500 firms, his website is www.AKeynoteSpeaker.com.

2 Comments »

  1. avatar

    As a certified dinosaur, one should do the exact opposite of whatever I recommend. I do see the above article as relevant, but extremely full of schlocky buzzwords. My brother, and his co-workers, used to play buzzword bingo when their employer would bring in head honcho or motivational speaker to address the employees. I was deprived of thinking of the future in my positions, because we were so rooted in the past and present. We scramble every day, there isn’t time to be planning 5 years in advance. I do watch trends and look for relevant hints and technology. Working for a government entity means that money will not be available to revolutionize the workplace. We are lowest on the totem pole and gets the scraps of others. Maybe I will have to “re-invent” myself.

  2. avatar

    Excellent frameworks. Let me simply add that continuous change needs to become CONTINUOUS continuous change, in that people will claim that they have completed the former. We saw that with continuous quality improvement, when managers would STOP looking to improve something simply because they had already done that.

    The Round Wheels of today will become the Square Wheels of tomorrow and we need to focus on making managers a lot more comfortable with involving and engaging the people around them who see so many different perspectives on how things actually work and what things could be done differently either right now or in the future.

    Change IS a continuous process, but so many people simply resist the change because they feel they have already accomplished it. What a paradox, eh?

Leave a Comment




Main Menu
Responsive Menu Clicked Image