4 Lessons 2020 Taught Us About “Futureproofing”

4 Lessons 2020 Taught Us About

(RepublicanPress.org) – Futureproofing, or future-proofing, is the process of anticipating the needs of the future and developing systems for minimizing the impact of future events. The past year with all its dramatic highs and lows, taught businesses the benefit of creating new strategies heading into 2021 and the beginning stages of economic recovery.

Four important lessons about future-proofing businesses learned in 2020 include:

  1. Looking beyond the data: Although collecting data about potential clients and possible future market trends is essential, it isn’t an end-all solution for businesses. Companies need to do more than collect that data. They need to strategize about possible ways to leverage it in the future.
  2. Considering more than Rate of Investment: Thinking outside guideposts like return on investment (ROI) and click-through rates (CTRs) is vital to future-proofing. Market growth is rarely linear, and identifying potential future markets is the name of the game when it comes to long-term survivability.
  3. Talent diversification: Successful 21st-century companies need to think beyond one job, one employee work constructs. Successful companies hire workers with multiple skills, maximizing potential output and creating redundancy.
  4. Optimize alignment: Companies hoping to remain flexible in the future need to work to achieve proper alignment at their operation’s core. That means developing interdepartmental trust, controlling market messaging, and understanding key performance indicators.

Hopefully, the American economy is back on track with the ongoing distribution of nationwide vaccines. However, recovery takes time, and smart companies look to future-proofing operations as they move into the new year and beyond.

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