Even before COVID-19 brought remote working arrangements to be the norm, technology was advancing at an exponential rate, forcing businesses to bring the way we work to the front of our minds.
It is now not only technology forcing businesses to be resilient by adapting to change and innovating for growth, but also the very nature of business in uncertain times.
One thing is certain and that is it isn’t stopping, and the consequences of not embracing new technology or introducing a process for innovative planning will result in your business being left behind.
The intent behind much of today’s new technologies are to free us from mundane repetitive tasks. The hope is that this will give businesses more time to evolve and grow with more interesting and innovative solutions.
Despite the turbulence businesses have faced in recent times we have seen many businesses increase their success. Indicators common to these businesses fall into the following groups:
- proactive with technology
- keep their product and service delivery systems fresh
- flexibility in and for their workforce
How can you replicate this success? Some golden rules:
- Be proactive, act early and with vigour
- Take advantage of opportunities
- Align new markets to your business strengths
- Be open minded – the opportunities aren’t always obvious
If part of your business is at risk, there needs to be foresight to understand the impact new changing market conditions or new technology may have on your business and identify other opportunities that your business can cease and develop.
Setting time aside to contemplate opportunities and plan your next move should be undertaken in conjunction with your client advisor. This isn’t a one-off activity and is something to repeat with regularity. Business that the time to debrief and get a second opinion stay progressive. Reflecting on your success and keeping yourself accountable in this way will help you and your business stay dynamic and adaptable for whatever the next chapter holds.
