Where’s your Next Opportunity?

It’s going to take something new to kick start your steady business. — to get on the trajectory the investors would love to see.

Sometimes it feels like you need Spiderman on the team to make it happen.  But a few simple steps will put the company in the right direction.

1.  Start small by ensuring there is at least one futurist on your team, responsible for looking for the new opportunities.  It doesn’t need a large team at first.  However, it will  take a combination of marketing, ops/r&d, regulatory and finance.  However, marketing and the technical folks can drive it, coordinating with the others.

2. Set up a simple process for screening future possibilities.  Ensure the criteria are clear.  What WILL put the company closer to the market and ahead of the competition?  Include regular reviews of the technology.

3.  Check that moving to new technology aligns with company goals, of course.  Enlist the leader of the company, if that isn’t you.  It’s tough to take a lot of time for this if the head of the business has other priorities.  If there are other priorities, you may want to consider if they are valid and plan accordingly.  Be involved, and involve the company leadership when technology looks promising.

4. Give people time to assess the future technology, develop strategies for moving forward and implement those strategies.  In a fast-changing industry, it is the lifeblood of continued, and increasing growth.

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Tove Rasmussen, Business Coach and CEO of Partners Creating Growth, offers business expertise worldwide to help organizations grow, and disadvantaged regions thrive.

Photo Credit: Senpai27

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