The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
The last few years have proven an incredibly difficult time for businesses, especially as so many of the challenges faced have been completely out of anyone’s control. It has been a stark reminder about the importance of future proofing to protect your business growth.
What is future proofing?
It’s not quite looking into a crystal ball and seeing exactly what will happen, but it is about predicting what could happen. While there are some things we can’t guess, there are generally signs of what could potentially happen in the future. If you can get in front of them, you can actually make changing markets work to your advantage. Future proofing involves looking at what your customers are doing, what competitors are doing and the wider global stage so you can evolve accordingly.
This infographic from NoBlue< looks at some companies that made future-proofing part of their business strategy and now dominate their chosen field. Netflix, for example, took movie rentals to the home while Blockbuster refused to adapt to changing customer demands.
Future proofing can help your business stay agile and isn’t as expensive, or time-consuming, as you might first think! With the right strategy, your business can make sure it’s ready to come out on top of whatever the future brings.
