Future Business

There is a lot of uncertainty and doubt creeping in to how most of us see the future. We hear that jobs are changing from the permanent, long term arrangement that we have become accustomed to preparing for. The pace of change has meant that whole industries can be decimated overnight. One of the hardest jobs on the planet now would be the School Councillors. What do you advise a young person to prepare for his career?

If you are wondering why it is hard to work out your income/revenue projections for the business, spare a thought for these guys. This is taken from Microsoft’s Business Forms on Office 365:

What struck me about this was the headings: Optimistic, Most Likely, Pessimistic and Mean. It re-defines my favourite: “guestimate”. We had a lot of fun with that doing the Five-Year Estimates in the Commonwealth Treasury, many “moons” ago.

There is an argument that you should look at future business using what has been termed Foresight Infused Strategy. Maree Conway’s book, Foresight Infused Strategy, is an interesting read and her work on thinking futures is worth considering. I particularly like the acronym “STEEP” which is used to build the components you need if you want to infuse your foresight. It stands for: Scientific, Technology, Economy, Ecology and Political.

If you can keep your eye on all of that, you will be doing well.

Sticking to your ‘niche’ can work, but it does seem that there are a lot of things going on and it would be wise to keep yourself up to date, at least with the things that directly affect your product or service.

I often go back to the good advice my Uncle gave me when I was learning to drive: Look ahead, Think Ahead, Keep your Head. I think that applies to business, as well.


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