Finding your way to the future

Finding your way to the future.

 by Elaine Ball

How do you plan for the future?

How does a company within the Geospatial sector plan ahead? How do you successfully find your way to the future? If you’re in product sales, do you switch strategies into service (as in ‘doing’ the job); if you’re a service company, do you go into product sales? No matter what type of service you’re offering, where will it go in the next five years? Think about it!

 ID-100131075

Stop and think:

1.     What is the percentage offering of your company – e.g., 80 percent product sales, 15 percent rental, five percent service?

2.     Do you feel vulnerable? If yes, why?

 

Do you know about the market and how you fit into it?

“We have always done it this way and it’s fine.” I’m afraid to say that the vast majority of companies take this view! Do you know where the Geospatial industry is heading? Are you waiting to see what the big three do? What’s their plan? What could be there plan? Think about it!

 

I work with many Geospatial firms who are heavily reliant on one or two particular ‘bits’, if you can call them that. These are often stuck selling the same thing, be it a service or product, and struggling to find a path toward a successful future.

 

Get yourself out of the fog

There are thousands of companies in the world doing the same thing; how do you find a successful way to the future? How do you make sure you are not doing the same thing as everyone else?

 

1.     First, write down some ideal scenarios for the future? What does the future look like? What could it look like?

2.     Next, write down a list of potential strategies – where do you want to go? what key things do you need to do to get to your vision? what would de-risk your company? – that you would love to do (don’t worry about ‘what-ifs’ just yet).

3.     Now, pick the top three strategies, or ways of attaining your vision.

4.     Sit back and write down how to execute these strategies.

 

Working backwards from your ultimate vision is key here, but don’t bite off too much or you may be overwhelmed.

 

Execution

When planning your strategy, ensure that you place key people and resources behind them. Then look at it – leave it on a wall and reflect over several days or weeks.

Call Elaine