How do you plan for the future?
First of all, you spend time studying, learning and thinking about it...just like you do with everything else that you know has a direct effect on the profitability and net worth of your business.
We spend a lot of time reading about, thinking about and talking and working with the companies and people that are right now developing solutions that involve the latest cutting-edge technologies like 3D printing, artificial intelligence, and robotics. That puts in a position to help you understand better what is coming soon and how it is likely to effect you and your future.
Next, you need to start asking the questions that will allow you to adjust your business plans and model in ways that will make your business stronger and also make you a better partner to both your clients and your partners.
Start with these questions:
What technological, cultural, demographic, financial or other changes on the horizon could materially affect your business or your customers?
Could any of these changes render your or your customers’ businesses irrelevant?
How does your corporate culture think about and address change?
Lastly, you update your business planning and create specific execution plans and metrics to ensure you do not find yourself in the same position that many companies that produced wagon wheels found themselves in when the steam engine changed how things got from one place to another.
We have a lot of experience helping our clients understand what is coming in the future that will likely effect them. We also have a deep understanding of business. That is an unusual combination.
We belong to and actively participate in many organizations that focus on new technologies and trends that truly have the potential to significantly change the world we all live and work in. We also dedicate time on a regular basis to reading up on and understanding those technologies and trends. Once we have learned what we can to develop a better understanding of what the near and long-term future likely holds, we then do what matters most to our clients: we spend time figuring out how it will likely impact them.
We share what we know or believe and why with our clients so that they can better understand how those developments are likely to affect their business and then we help them plan appropriately.