As a business leader, you have to assess, allocate resources and take action in an environment with constant technological disruption. You can do this only if you look to the future and develop yourself and understand what your business needs.
All the answers to your unique business lifestage questions
The days of creating a three-year technology plan are over, but it doesn't mean pursuing every new technology or trend that presents itself. Rather be a ‘fast-follower’. Let another company implement and deploy new technology and learn from them.
This can help you decide whether that specific solution will work for your business or not. For everything else, here are few more tips on why you need to focus on your personal development:
Master the short-term plan
Big corporations have one big advantage over entrepreneurs: They can throw resources at speculative long-term projects knowing that only a few will work. For SMME entrepreneurs, the main benefits of a five-year plan are the insights into opportunities on a shorter, more manageable horizon.
Have a shorter plan, five years is a long time, although it does have massive importance, it will change before you get there.
Related: Spring clean your personal brand: 3 Bad habits that must go
Become (more) agile
- Stretch your mind to learn new skills and explore new approaches. Look for learnings in post-project reviews and client meetings. Use these experiences to build flexibility into your business.
- Regardless of the rapidly changing world around you, continue strengthening what your team is best at.
- Stop over-analysing and follow your intuition. Try and make faster and smarter decisions, using whatever tools that fit you.
Learn to be uncommitted
Cope with constant change by remaining as uncommitted as possible. Long-term leases, hard-to-sell assets and expensive equipment may be necessary for your business, but choose shared or easily turned over resources when you can. The most successful entrepreneurs are able change direction quickly to capture an opportunity or avoid a threat. Try and be a light as possible, sometimes this is difficult though.
Related: 4 Personal dynamics that influence your start-up’s success
Get a step ahead
Change is a constant, the question is not when will change come, but how soon. If you want to win in the long run, you've got to be a step ahead of your competition. This means keeping up with the latest news and trends in your industry, and then being ready to pivot at a moment's notice.