Check out the latest post on my website - or read it below **This is the last post of 2024 as I am taking the next two weeks off to spend time with my family. Look for a Rise Over Run video the week of January 6. Happy Holidays and have a terrific New Year! Create Your Successful Future – 4 Strategies to Future-Proof Your Small BusinessTime TravelIndulge me for a minute, if you will. I want you to picture yourself five years from now, on the cusp of the year 2030. Think of an ordinary day. How might that day look? You get up in the morning and a holographic image of someone important to you who excels at nagging (your mother? Your spouse? A sibling?) pops up at the end of your bed to tell you it's time to get up. Your smart mirror transforms into a screen that shows you your appointments for the day, along with what has become an eerily accurate weather forecast As soon as you get up, your virtual assistant bot greets you. "Good morning! Your first meeting isn't until 10am, so you have time for a workout after your breakfast. I have notified the coffee maker to brew your coffee, and scheduled a bike ride through the Alps on your smart bike to get your heart rate up a bit. Your robo-taxi will be picking you up at 9, so you are in your office well ahead of your first meeting. I have taken the time to answer most of your emails and moved a couple personal ones into a folder for your review. The fridge says you are low on cream and eggs, so they were added to your Smart Shopping list to be delivered this evening." As you start to wake up, you think about what your day will look like, and what tasks you will need to address that can't be automated or handled by your virtual assistant. And here's the fascinating part: despite all this technology, your business challenges feel remarkably unchanged. Plus ca change…What are your top issues in this world of almost-2030? Finding some qualified employees with the right online micro-certifications to handle the work? Scheduling holographic meetings with current and potential clients? Making sure your marketing AI bot is sticking to the right tone and message for your online posts? Working with your virtual banker to make sure your line of credit isn’t at risk? Employees, customers, sales, marketing, finance. Same old, same old. Perhaps you’re familiar with the old adage: Plus ca change, plus c’est la meme chose. Or, the more things change, the more they stay the same. I anticipate that is how we will feel in five years. Lots will change for our future selves, but our key issues will likely be very familiar to our current version of ourselves. As my husband has been known to say, “Owning my own business would be great if it wasn’t for the stress of dealing with employees and with customers”. How can you make sure that the headaches you deal with today are at least less of a headache for you in the future? Or even less of a headache in the present? Navigating Uncertainty in a Rapidly Changing Landscape2025 brings significant transitions, including a new presidential administration, which adds another layer of uncertainty for small business owners. The pace of change is accelerating – driven by technological advances, shifting demographics, evolving political landscapes, and emerging technologies like AI and blockchain. As a solopreneur or a small business owner, the burden is on your shoulders to protect your business and make sure it is future-proof. Big businesses have the benefit of a Board of Trustees or a similar organization advising them on strategy. And they often also have a futurist or a long-range planning specialist keeping an eye on what’s trending in their industry and for their customers. We have none of that. What do we have that works to our advantage? We have control. The ability to move quickly. To pivot. To get up close and personal with our customers and employees. And the added advantage and motivation (but also a burden) of feeling the weight of our income and our employees’ incomes on our shoulders. So how can we navigate the future without a long-range planning specialist? 4 Strategies to Future-Proof Your Business1. Practice Environmental Scanning Take some time each week to pay attention to the news in your industry and in general. What are you reading that makes you think, “This could impact my business”? Don’t put your business at risk by not seeing the change until it’s too late. Stay informed and proactive:
2. Focus on Differentiation This is key. How do you stand out from your competitors (human or tech-based)? What is it that you do especially well or different or better than everyone else? Focus on what makes you unique and on the value you are able to deliver to your customers. Any jobs that are somewhat rote or repetitive risk being replaced by automation or easily compared to the low-price leader. Your unique value proposition is critical
3. Leverage Peer Networks Groups of your peers focused on growth and strategy force you to lift your head up and stop focusing on the day-to-day issues and emergencies to look out further. Find other business owners and commit to meeting regularly to help each other navigate the changes constantly emerging. Peer groups are your secret weapon. By regularly meeting with other business owners of similar size, you gain:
4. Embrace Lifelong Learning We should all be spending about 10% of our week learning, not working. How else can you keep up with the rapid pace of change so that your customers will know that you are looking out for them? Surely you can spare some of your busy weekly schedule to making sure you will be in business in another 52 or 260 weeks? Learning is your competitive advantage. Make it your goal to:
The Bottom LineTechnology will continue to transform how we work, but the fundamental human elements of business remain constant. By staying informed, differentiating yourself, building strong networks, and committing to continuous learning, you'll not just survive – you'll thrive. Your business's future isn't something that just happens to you. It's something you actively create - one strategic decision at a time. |
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Check out my latest blog post! Read it below, or find it on the website: Don't be a Commodity! Don’t be a Commodity! Hey my small business owner friends! I’m here today to share a piece of wisdom with you after years of working with small businesses. Stop competing on price! This is not a game a small business can win. Whether you are offering a product or a service, you will never be able to access the resources or provide the kind of pressure that a giant corporation can in order to keep...
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You can check out my latest blog post online here - or just keep reading! The Piñata vs the Charts: Taking Action vs Planning How do you make decisions to grow your business and put them into action? We all know we need to be strategic as we work to turn our vision into business growth. And we also know that we should “Just Do It” and make progress even when we are uncertain. So how do we balance the tension between planning and acting? The way I see it – we all operate on a spectrum that has...