Long term Vision and Focus in Business..... #5
- Adrian Dionisio - business737 owner
- Oct 25, 2020
- 3 min read
Updated: Mar 20, 2024
Business is changing & in a state of flux
The 2020 Covid pandemic has caused people to really think about what they value and how they value things. Individuals have been forced to think in a more practical way and this is exactly what businesses should be doing.
It is important to think about what your core business could and should become. Do not simply focus on putting out the fires, think about all the new opportunities and possibilities in these unprecedented times. As business owners we must move away from survival mode of thinking and embrace change and the future in order to achieve growth and profitability
“When the winds of change blow, some people build walls and others build windmills.“
Business Mindset for Growth
“The only constant is change. Individually and collectively we have always faced various problems and struggles in one form or another. Now is no different. We must stay positive and have a clear vision of the post crisis future to bring hope, inspiration and purpose ”
Thinking of the long term is often overlooked as we deal with our immediate problems and issues of the short term. However businesses must think in a 5 -10 year horizon whilst dealing with immediate challenges. The best way to do this is to look to the future and vision growth and profit
Business Development & Long term planning
Long term vision and planning will allow a business to identify many viable opportunities for growth and profitability. In order to develop a mindset to plan for the long term, it is necessary to constantly reflect upon the past and present, with a clear vision of where you want to be in the future.
Start with the 5-10 year vision and work your way backwards to the present day. Breaking this journey into multiple segments will make it easier for you to set a strategy and plan how to achieve your long term goals, step by step.
Think well beyond the industry and processes of today. Reflect on what is currently happening and use your past experiences and insights to make logical and educated predictions and forecasts.
Recognise and address the transformations within your business sector and industry. Make sure you are aware and up to date with what is happening in your sector and area of expertise, so you can make informed and relevant business decisions.
Think about what are the new games that can be played. For every door that has been closed another has been opened, and many are not aware of these new opportunities which can offer huge advantages for the early movers. It is an old story that is as relevant now as it ever was.
Constantly reflect upon the impact and opportunities of future technologies.
Constantly ask yourself how you can expand and diversify to put you in a new space.
Developing this mindset will give you a large portfolio of innovation initiatives which will ultimately lead to growth and increased profits.
Business model innovations; looking out into the future
“Find time to think in an expansive and learning based way”
Life is a process of continuous learning as we move into the unknown. Innovative business models that look out into the future represent this reality. Such models and strategies are expansive and learning based systems that continually involve:
Exploring
Debate
Discussion
Testing
Learning
Adjusting
Cancelling
These will all be part of this long term vision and focus approach to your business. This flowing and constantly changing process will allow businesses to identify new opportunities and threats and stay a few steps ahead of the game.
Ask yourself these questions
How have your customer demands changed?
Has your business recognised that people are more mobile in their connectivity, mobile people not simply mobile phones.
What practices and skills does your business need for the future?
Do you understand the significance of Content Development and how you portray yourself?
Are you aware of the digital divide in society / within your own business / amongst your own people?
The digital space is driving a fundamental change, do you understand your business's digital needs and skills requirements?
Has your business embraced the changes of this era and moved away from short term thinking?
The vision should be strong to drive you forward and give you direction
Your long term vision and focus should give you hope and expectation, a goal to work towards. It will provide you with a set of consecutive short term strategies which will provide a means to achieve your long term goals. This process will continually highlight adjacent and new opportunities for growth and profitability. Let us not forget that it was massive change, upheaval and disruption that brought about the magnificence, power, peace and splendour of the mountains.
Comments