The best way to predict the future is to create it. – Abraham Lincoln
This is the underlying philosophy to have a successful, future-ready business in today’s competitive times when things and trends change in the blink of an eye. But can every business rely on this philosophy? Or should we say – does every business rely on this philosophy?
Well, the answer is a clear no.
And, perhaps this is one of the major reasons that 9 out of the 10 startup businesses that shoot up don’t survive for long.
Τhe million dollar question that arises here is – if the situation is so bad, then what is the underlying reason? And, can’t we do anything to change this scenario?
The answer to this question lies in preparing the business and the people involved in the business for the changing future.
How can we do it? This is exactly what we are going to discuss in this post. Let us take a look at how you can make your business future ready.
Lead from the front
An army of sheep led by a lion is better than an army of lions led by sheep. – Alexander
This quote from the history books has become synonymous to the role of a leader. Under able leadership, even the weakest of men can move the biggest of mountains.
If we look at the business successes that have managed to change the world and bring something revolutionary out in the front, they all have been fortunate enough to be led by some of the greatest leaders of all times – from Steve Jobs in Apple to Elon Musk of SpaceX – all have led from the front.
Similarly, flaws in leadership have cost quite a lot to companies like Uber and United Air Lines.
As it is said, “The world is changed by examples and not by opinions.”
People who are willing to work hard for the future are the ones that will be able to change it and survive. Hence, leadership becomes the key for a business to survive in the future.
Create a culture
A single being cannot survive the toll of time; it is the culture that survives through it. The survival of human civilizations, evolving and changing with time is the biggest example of this.
This is the major reason that developing a company culture has to be the first thing on your list of activities, in case you wish to see your business standing tall for more than just a couple of years from now.
Successful entrepreneurs have time and again emphasized the importance of company culture in an organization’s survival. As the saying goes, “Culture is the backbone of any successful organization.”
If you have still not paid heed to this fact, it is time to start digging things up and get to know more about your company’s culture. After all, a toxic company culture can virtually kill – not just your workforce, but your entire business as well.
And, that you would not want to happen. Would you?
The future is built on technology. Pick any era and you will see that the people who stand out were the ones who not just adapted according to the evolving times, but understood the importance of changing technology during those times.
Remember, it was not long ago when having a computer at home was a luxury. But in today’s time, computers surround us everywhere. Virtual reality, social media, augmented reality – and real-time communication – all these have come across as the blessings of technology.
The same is the case with every industry. Different industrial processes have evolved over the course of time. And the ones that adapted to these changes were the businesses that are still standing tall, while the ones that failed to upgrade simply fell flat! This is the harsh truth.
There are plenty of examples of organizations that failed to face the test of time, simply because they were not innovative enough and didn’t evolve; Nokia being the prime example.
As they say, the past cannot be changed but the future is in your power. As a business, you need to understand this fact, and inculcate the same philosophy within your team to be future ready!
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Build relationships to build a business
A symbiotic relationship is the most successful relationship in the world. Even nature has many examples to prove this fact. Businesses that understand this philosophy never go out of fashion.
At the same time, businesses that don’t rely on building relationships with their workforce and treat them as just paid labor are never going to make it to the future.
Remember, it is the employees that make a business and not the other way around. Even the most successful businesses, which failed to value their trustworthy employees, have been known to fail in the past.
This is one of the major reasons that a smarter creed of businesses today value their employees and make sure that they are not only compensated well on a monetary basis but are also in good mental and physical health.
If you, as a business owner, want to look at your business as a successful unit then one of the most important things that you ought to start doing right now is to focus on the employee happiness index. And, you will certainly start to see a change in the success of your business with an increase in the happiness index.
Those were just a few of the basic things that every smart business must inculcate in its underlying philosophy, not just to survive the test of time but to also ensure that it continues to rise and shine above the others.
If you are still struggling to make your business a success story, then it is time to understand these concepts and start working towards them.
So, are you up for the task?