Submitted by Regina Campbell, owner and head attorney of The Campbell Law Group and WCC member.
In order for a business to have the best chance of succeeding in such a competitive environment, a business needs to be forward-thinking. In this blog, we have identified seven essential qualities of a forward-thinking company.
- Innovative To put it simply, forward-thinking companies need to be different. As Thomas Edison once said, “There’s a way to do it better—find it.” Your product or service must be innovative in some way if you are to achieve longevity and success.
- Detailed Forward-thinkers do not simply wait for success to come to them. Forward-thinkers plan and prepare for success down to the smallest details. While it is important not to get too bogged down in the minutiae, you should always be planning for your company’s future.
- Adaptable Forward-thinking companies must be able to read and understand which direction the winds are blowing and adjust to them. Your company should not fear change, you should embrace it.
- Proactive Do not simply handle issues as they arise, take steps to minimize your risk of having to deal with issues in the first place. In the legal sense this means using strong and effective contracts, analyzing your company’s potential liability points, and actively address the risk.
- Focused As previously mentioned, forward-thinking companies must be willing to adapt to change. At the same time, you must remain focused and driven towards your goals. This does not mean your goals cannot change, but every action you take should serve the process of achieving those goals. This means cutting out unnecessary excess and being willing to say “no.”
- Practical/Creative In order to be forward-thinking, companies must be practical and creative in their business methods and execution. The same old methodology may not be the best methodology. For example, rather than focusing on hiring traditional employees, you may find a better way to do the job by using contractors and freelancers.
- Realistic Forward-thinking companies need to dream big, but they must also remain grounded and realistic. This requires a great deal of objectivity and common sense.