Tip 62: Is Your Business Built for the Future?

The world moves quickly, and things are only speeding up from here.

Your business needs to keep up. Potential buyers will be eager to purchase from an owner who has an evidence-backed plan for success in the future, not someone who is stuck in the past. A good leader is always evolving to meet the demands of modern customers.

Keep reading to learn about two real-world CEOs, one who has kept up with the times and continues to grow, and one who inherited a tired legacy.

Living in the Past…

Microsoft is still America’s largest software company, but investors realize it may not stay that way for long. Innovative competitors like Apple, plus some wildcard newcomers, threaten Microsoft’s footing.

Microsoft’s CEO, Steve Ballmer, is focused on legacy. He reminds shareholders that the technology giant has dominated the market for 20 years and that this will inevitably continue.

…Vs. Improving for the Future

By 2014, Amazon had multiplied its earnings by 90, giving investors 10 times their ROI. The online retailer began as a book store, but when publishers took too long to digitize their products, Amazon rolled out the Kindle. Then, to meet customers’ desire to shop online, Amazon increased its market to extend far beyond books.

Amazon’s CEO, Jeff Bezos, is rarely caught discussing the past. He is always looking forward, allowing him to meet consumer demands and propel his business forward.

Are You a Ballmer, or a Bezos?

Bolstering your business with past successes is never a bad thing, but potential buyers want to know more than just what you’ve already done, they want to be able to foresee continued success.

Before you prepare your business for sale, make sure you can inform buyers of how your company will continue to blossom into the next 3-5 years.

Be the kind of leader who is preparing to embrace the future and adjust the business to exceed customers’ expectations as the times change.