7 Essential Qualities of Forward-Thinking Companies
When an entrepreneur builds a business, most of them do so with the future in mind. They want to build something that will be successful and stand the test of time. They want to breed growth and longevity—not to mention make money. After all, being told that your company is “stuck in the past” isn’t exactly a compliment, and competition in the business world is fierce. For every Apple or Google, there are hundreds if not thousands of nameless companies that have tried and failed. In order for a business to have the best chance of succeeding in such a competitive environment, they need to be forward-thinking. In this blog, we have detailed seven essential qualities of a forward-thinking company. 1) 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. 2) 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 immediate future, the near future, and the long term future. 3) Adaptable Forward-thinking companies must be able to read and understand which direction the winds of the market are blowing and adjust to them. Your company should not fear change, you should embrace it. Be willing to pivot, and do not hesitate or you could find yourself left in another more adaptable company’s dust. 4) 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. A skilled business attorney like those at The Campbell Law Group can help you take a proactive approach to all legal aspects of your business. 5) 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, whatever they may be at the time. This means cutting out unnecessary excess and being willing to say “no.” 6) 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. Perhaps, rather than focusing on hiring traditional employees, you find a better way to do the job by using contractors and freelancers. As cliché as it sounds, you have to be willing to think outside the box to discover the most practical solutions and methods of reaching your goals. 7) Realistic Forward-thinking companies need to dream big, but they must also remain grounded and realistic. Don’t get caught chasing an impossible pipe dream. This requires a great deal of objectivity, and your definition of “impossible” may be very different from someone else’s, but do your best to to chase what you know to be attainable. The Campbell Law Group prides itself on being forward-thinking, and we believe it takes a forward-thinking law firm to truly help a forward-thinking company. We are dedicated to helping your Miami-area business achieve its goals—now and in the future—so please give us a call today to learn how we can help.