We’ve all heard of big companies that have come and gone. They’ve been around for decades, and then all of a sudden—poof—they’re gone. And new businesses? They’re often set up to fail from the very beginning. Nearly 20% of new businesses fail just in their first year. That’s pretty alarming, especially if you think you have a great product or service that meets the needs of a certain population.

But why do so many businesses come and go? Think of companies such as Montgomery Ward, Blockbuster, and Toys R Us. The reason is that these companies failed to innovate. They failed to pay attention to consumers’ changing needs. Ultimately, they failed to future-proof their organization. 

How Do You Future-Proof Your Organization?

Before we get into the tips on how to future-proof your biz, let’s clarify why we need to do it in the first place. Think of it like this: If you come up with a product or service to meet the needs of today’s consumers, what happens when those needs no longer exist? What happens when technology continues to advance and can solve that problem in a new, more efficient, and effective way?

This is exactly why future-proofing your organization is so important. It allows you to stay top of mind with customers, growing with them, if not ahead of them, so that you can continue to fulfill a want or need. That said, let’s get onto the tips on how to future-proof your organization and set it up to thrive in future years.

1. Solicit Customer Feedback 

Listening to your customers is key. One of the best ways to hear them is through surveys. You can send these out after someone buys your product or uses your service. In fact, the Net Promoter Survey is an excellent way to get a handle on customer loyalty. It consists of one question, asking if they are likely to recommend your products or services to a family member or friend.

Other surveys can also be beneficial. Make sure the questions are easy to understand. Social media is another great tool. It lets you chat directly with your customers. Ask them what they love or want to be changed. Lastly, consider a suggestion box on your website. 

2. Solicit Employee Feedback

Your team members are your eyes and ears on the ground. They often see things from a different angle. One way to gather their insights is through regular meetings. Make it a safe space where everyone can speak their mind. Another method is anonymous surveys. This way, employees can share honestly without fear. 

You could also create a feedback box in the office. Here, employees drop their suggestions or concerns. Remember, listening to your team can lead to great improvements. It also makes them feel valued and part of the success.

3. Analyze Data from Similar Organizations

Looking at what other similar businesses are doing can give you a big advantage. Check out their success stories and mistakes. Focus on their revenue, losses, and any security issues they’ve faced. This information can show you what to do or avoid. 

Also, pay attention to their customer feedback. It can reveal trends and needs that you might have missed. Collecting this data isn’t about copying others. It’s about learning from their own experiences and learnings along the way.

4. Prioritize Strong Internal Communication  

Good communication inside your company is like the glue that holds everything together. It’s not just about keeping an open door. It’s about building an infrastructure where information flows smoothly. Portable two-way radios have made it easier for instant, clear conversations across different departments. Two-way radio repeaters extend their range, especially in large areas. 

The latest in two-way radio tech includes AI integration. This can automate responses and gather data for better decision-making. Plus, with improved battery life and connectivity, communication barriers are becoming less of an issue than in years past.

5. Regularly Audit and Update Technology

Building a business is not a set-it-and-forget-it process. You need to monitor all of your business practices, all the time. Regularly audit what works well and what is not and make changes to help your business operate effectively and efficiently. 

To audit organizational technology, schedule regular check-ins to assess your systems and tools. Look for signs of aging tech, like slow operation speeds or frequent crashes, which signal it’s time for an upgrade. The goal here is to maximize the lifespan of what you have but know when changes are needed.

Failure to update can lead to poor cybersecurity, exposing you to attacks and slower workflows that frustrate employees and customers alike. Manage obsolescence by staying informed on the latest technology trends and preparing budgets for timely updates. 

6. Invest in Employee Education and Training 

Most companies with 50 or more employees invest in formal training for their employees. A recent U.S. study suggests that 69.8% of U.S. workers received formal training during the past year, and nearly 96% reported receiving some kind of informal training.

Investing in your employees’ growth is investing in your company’s future. Offer online courses that help them sharpen their skills or learn new ones. Workshops and seminars can also be powerful, providing hands-on experience. Consider tuition reimbursement for courses relevant to their role. This develops and grows their expertise and shows you value their development. Regular training sessions keep your team up-to-date with industry trends and technologies.

7. Identify and Plan for Risks

A risk management strategy involves identifying potential risks that could harm your business and planning how to address them. Start by listing possible threats, like cybersecurity attacks or supply chain disruptions. 

Then, analyze how likely these are to happen and their potential impact. With this information, you can prioritize risks and develop a mitigation plan. This might include insurance, backup systems, or diversifying suppliers. Regularly reviewing and updating your risk management plan is crucial, as new threats can emerge. 

8. Make Smart Partnerships

Have you ever heard the term, surround yourself with smart people? It’s true. And being selective with business partnerships is a must. The right partners can bring in new customers, offer valuable resources, and enhance your credibility. However, aligning with the wrong ones can harm your reputation and bottom line. 

Look for partners who share your values and have complementary strengths. This synergy can lead to innovative solutions and open doors to new markets. Long-term benefits include steady growth, increased brand awareness, and the ability to weather economic fluctuations together. 

Make Future-Proofing Your Organization a Top Priority

Companies that prioritize evolving, growing, and future-proofing their organizations are far more likely to stand the test of time than those that do not. And EMCI Wireless is committed to helping you stay on top of communications within your company. We’re central and southern Florida’s leading Motorola solutions channel partner, specializing in commercial and public safety communications. Request a consultation today.