Is Your Startup Future-Proof?

When we think of the future, many of us see different things. Some might see uncertainty.

Right now, many businesses in the United Kingdom and the mainland of Europe are worried about the impact of Brexit on future trade and reaching audiences overseas.

Some might see potential, such as the ability to launch into 2020 with a new business plan and a careful outlook on how they might operate.

Some might see the future as a means to atone for business mistakes in the past, through pursuing an entirely new direction and rebranding effort. But no matter what business you run or how successful you are, preparing yourself for the future is an absolute must.

But what do we imply when we talk about ‘future proofing’ a company?

It’s much more than considering what market share we will have, or what our books could look like. Instead, we focus on keeping up to date with modern business norms and standard practices, and being quick to adopt new methodologies that grant us the competitive edge.

Don’t Put All Your Eggs In One Basket

Smart startups do something specific when they achieve success with a flagship product. They develop another line, or a service, or something else for customers to come back to.

Putting all of your eggs in one basket is not the best way forward, even in markets that are very successful.

For example, consider Samsung’s collection of smartphone offerings. They are a massive business with a massive product range. But in smartphones, something that they have a large market share of, they further diversify their product line. 

They offer the S10 Plus for power users, the S10 for those who just want a flagship phone, the S10E for those who want a smaller and more compact experience at a cheaper price. They also offer the Note line for executives and creatives, or those who wish for the ultimate experience.

Diversifying your offerings and always trying to find a means to be a relevant firm can help you avoid putting all your eggs in one basket – and the trouble it implies.

Use Adaptive Services

Finding excellent services that stay updated, such as a managed IT service company, can help you stay on top of all your needs, be that cloud functionalities, web hosting, or cybersecurity. When you use services that cover a broad range of considerations like this, all of that need to keep up to date is included in the price of your subscription or package. This can take a load off the shoulders of your small firm or startup.

Invest In Your Future

From investing in IT functionalities that will last a good number of years, to investing in lumbar-supportive executive chairs to manage the long term health of your employees, to ensure a comprehensive and worthwhile insurance plan for your employees – sometimes the best thing you can do is take care of yourself.

If you want to stay healthy as an individual you need to invest time and energy in exercise and a worthwhile diet – the exact same thing goes here. Sometimes taking care of your systems is the best thing you can do for the future.

This is a contributed post.