Building a Business That is A-Okay with AI

You Got This!

Robots could replace 800 million jobs by 2030, according to the McKinsey Global Institute. Children and adults alike will increasingly need a grasp on learning skills rather than retaining knowledge and information -- skills such as independent thinking, teamwork, creativity, research and information synthesis and analysis.

“Anything that is routine or repetitive will be automated,” said Minouche Shafik, director of the London School of Economics, during a talk called “Saving Economic Globalization

My clients are right now setting intentions for their 2020 vision. Having a plan clearly in sight is the first hurdle to reaching it. So why think about 2030? First, it will be here before we know it, wasn’t it 2000 just last year? And second, because you want to be a position to build a business stays relevant, and you want to take advantage of opportunities. You must see the opportunities to move on them.

The skills this article encourages focus on description a great entrepreneur. Independent thinking, teamwork, creativity, research, information synthesis and analysis.  Entrepreneurs do this every day, often without even being aware of it.

I guess I could stop right there, you got this. Keep reading for specifics on how to prepare your business for change.

Seeing the opportunities

How we do business today is different than it was 10 years ago.

It is different than 2015. The most constant thing in business is change. Hindsight being 20-20, If you had known 10 years ago how your industry was going change, what would you have done differently?

Whether robots take over the world by 2030 or not is not the point here. The point is that the skills entrepreneurs use every day are essential in a continually evolving world.

Instead of focusing on how Artificial Intelligence may impact your product, focus on how you can continue to build these key skills for yourself, and your team, to be prepared for whatever 2030, or 2020 have in store for you and your business.

Independent thinking

You know, like an entrepreneur.

We do think differently, how many times have you been asked, “why are you doing this again?”? Being an independent thinker has a slightly different meaning.

An entrepreneur thinking independently will look outside the box. Focusing on how customers benefit from what you do, rather than focusing on how to improve your current product, will open new ideas to solve a problem. If you want to have a bigger business, solve a bigger problem.

Team Work

“If you want it done right, you have to do it yourself”

I am confident was first said by an entrepreneur. Control enthusiasts know what they want and how to get it done. What can be missing is the ability, willingness, and systems, to teach that to someone else.

Start your business with the idea that you will have some form of team as your business grows will have you looking at how you do things differently.

Teaching teamwork comes from the top. Build a team with similar values, open communication, and strong leadership increases the chance of success immeasurably. A strong leader can let go of ego enough to share the responsibility, the workload, and the wins with others.

Creativity

This is where opportunity takes off.

 With more automation expected in the next 10 years, consider how this will impact your product, your customers, your business model? Focus on the problem you solve and consider how what you offer can be improved utilizing new technology. And do not forget to consider how your product can serve a new target market impacted by the changes.

Research, Information Synthesis and Analysis

To build a better mousetrap, you must know something about the mouse.

Research is a continual part of each of the 7 Building Blocks of Business.

  1. Planning
  2. Marketing
  3. Sales
  4. Product Development
  5. Customer Service
  6. Team Training
  7. Personal Growth

Pay attention to what is happening in each of these areas. Schedule time to evaluate information you have gathered from your numbers, your team, your customer feedback, and your competition.

This can be forgotten with everything else a business owner is doing. If you are still doing the same things, the same way, you were doing them 2 years ago, get a fresh perspective on your market and your product NOW. This is best done with the outside view of a mentor, coach, or associate.

A robot to clean my house, awesome. A robot creative enough to communicate complicated ideas to my clients, probably not happening anytime soon. AI is not taking over our lives today. It does create some great potential opportunities that are fun considering.

Business should be fun so take the time to think beyond what is going on right in front of you today. Be a creative, independent thinker as you build your team, and analyze your results.

Doing the right things right at the right time while planning for the future will guarantee your business can adjust to the continual changes coming your way. Robots, flying cars, tele-transporting people, who knows what is possible in 10 years. Keep an open mind, focus on building your dream business, and enjoy the ride.