THE FUTURE IS HERE!
Automation is taking over the world! It's not just AI. Change is happening faster than ever before, and it is impacting everything that touches our businesses.
According to the McKinsey Global Institute: Robots could replace 800 million jobs by 2030,
Anything that is routine or repetitive will be automated,” said M Shafik, director of the London School of Economics, during a talk called “Saving Economic Globalization
TODAYS BUSINESSES WILL CHANGE
Customer desires, employee expectations, product innovation, global competition, changing political environment, even some of the basic ‘rules’ of society are shifting almost overnight.
If you are still doing business like you did 5 years ago, STOP IT!
What used to be maybe a 5-year cycle takes about 10 minutes today.
Being an business owner means that you are a creator, a disrupt-er, an actual energy; all led by a purpose. Therefore, we can safely assume that you’ve got this! Change is no big deal, right?
“With everything I have to do today, how can I possibly think about how change will impact the future of my business?”
3 Reasons To Take Time Thinking About Tomorrow, Today
It will be here before we know it, wasn’t it 2000 just last year?
You need to be building a business that is relevant tomorrow and beyond.
To take advantage of opportunities, you must be ready to see the opportunities, and to move on them.
The essential skills identified in the Shafik article referenced above : independent thinking, teamwork, creativity, research and information synthesis and analysis are required for every business owner. Entrepreneurs do this every day, often without even being aware of it.
YOU’VE GOT THIS!
Keep reading for a few specifics on how to prepare your business for tomorrow, today.
Where Are You Going?
What’s your 2025 vision? Having at least a 3-year strategy can create amazing opportunities. Got a 10-year dream, even better. Having a destination is the first step in getting there.
What Needs to Change to Get There?
Every business has a bottleneck. That thing that gets in the way of the next opportunity. Sometimes it is something tangible, like equipment or people, and sometimes it is a personal belief for the leader
How Are You Going to Get There?
What is the road you are going to take to achieve your dreams? Highway or back roads, riding your self-powered bicycle or driving a big truck, going alone or taking a full team. Just some of the questions you need to answer to reach your destination.
SEEING & SEIZING OPPORTUNITIES
How we do business today is different than it was 10 years ago. It is different than 3 years ago. The most constant thing in business is change.
Robots taking over the world by 2030 is not the point. The point is that the skills business owners use every day are essential in a continually evolving world.
A leader thinking independently will look outside the box. Focusing on how others benefit from what you do. Instead of thinking of ways to improve your current product, consider how what you have to offer solves a problem. If you want to have a bigger business, solve a bigger problem.
“If you want it done right, you have to do it yourself” I am confident the first person to say this was a business owner. Control enthusiasts know what they want and how to do it. What may be missing is the ability, willingness, and systems, to teach that to someone else.
Teaching teamwork comes from the top. Building 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.
This is where innovation takes off. With more automation expected in the next 10 years, consider how this can improve your product, your service, your business model? Focus on the problem you solve and consider how what you offer can be impacted when utilizing new technology. Remember to consider the new target markets who will benefit from these changes.
To build a better mousetrap, you must know something about the mouse.
Research – Test – Measure – Review – Research – Test - Measure - Review
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. Artificial Intelligence flexible and creative enough to communicate complicated solutions 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.
What is your plan for the future?
Does it involve new technology to stay relevant and continue growth?