Join our Waitlist for Expert Advice!

5 Ways to Future Proof Your Company Look ahead to how business is shifting so your company is poised for success.

By Linda Lacina

Shutterstock

You don't need a crystal ball to see some of the biggest shifts in business. Some of the patterns are already there for us to see. Take a look at what futurists and other business experts think will shape the future of business – and your role in it.

Think partnerships, not transactions
Profiting from transactions could become more and more difficult in the years to come. Consider how outside partnerships could help you company do things it couldn't do otherwise and get you to scale more quickly.
Read more: How the Next Five Years Will Revolutionize Business

Change how you're structured
The traditional command-and-control hierarchy won't work as well as it has in years past. Research shows you'll have smaller teams, and those staffers will need to feel engaged with their eyes on the same ball. Consider a horizontal structure that keeps more of your team connected to your goals and to each other.
Read more: 10 Qualities of the Future Every Leader Needs to Have

Think bigger
Experts explain that as the world becomes more globalized, it will be powered by micropayments by an ever expanding group of people. The businesses that will see the biggest success are the companies that can most easily solve the biggest problems impacting the largest number of people. As Peter Diamandis, chairman and CEO of the XPrize innovation says, "The best way to become a billionaire is to help a billion people."
Read more: How the Next Five Years Will Revolutionize Business

Offer experience, not product
As shopping becomes more commoditized, it will be harder and harder to stand apart as shoppers depend even less on physical stores. It will become even more important to prioritize your customer service departments and keep your online presence easy-to-use. But it will be harder and harder for companies who don't delight their customers to stay in the game.
Read more: How the Next Five Years Will Revolutionize Business

Help Millennials develop
Millennials will dominate future leadership roles and they'll need to be prepared. Studies show these staffers want formal mentoring and training to show them the ropes and help them feel engaged. Consider pairing younger staffers with mentors and providing onboarding programs that help this group better understand your company and how it can better contribute in the long-term.

Read more: How to Prepare for the Future of Work

Linda Lacina

Entrepreneur Staff

Linda Lacina is the former managing editor at Entrepreneur.com. Her work has appeared in the Wall Street Journal, Smart Money, Dow Jones MarketWatch and Family Circle. Email her at llacina@entrepreneur.com. Follow her at @lindalacina on Twitter. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Living

These Are the 10 Best U.S. Cities for Renters — and the 5 Worst

A new survey found some cities in the Midwest were more affordable for renters.

Business News

Google's CEO Says AI Is Now Responsible for 25% of 'All New Code' Created at the Company

Google CEO Sundar Pichai said engineers are moving faster because of AI.

Devices

Keep All Your Devices Ready to Go With Two 5-in-1 Charging Hubs

Streamline your workspace and charge everything at once — no more cable chaos.

Business News

A Billionaire Founder Admits He Had 'Horrible Habits' — Then He Started a Morning Routine That 'Transformed' His Life

Kind Snacks founder Daniel Lubetzky used to go to sleep at 2 a.m. and skip his morning workout.

Starting a Business

I Quit My Corporate Job to Start a Business. Here's How I Went From Having $35,000 Credit Card Debt to Making $4 Million.

Courtney Allen, founder and CEO of presentation design agency 16x9, "recklessly" left corporate life behind in 2015 to pursue entrepreneurship.

Growing a Business

These 3 Common Business Mistakes Could Cost You Customers

Avoid these three major business blunders to build customer trust for the long haul.