Three Habits of Highly Evolved Companies

Today’s business landscape looks completely different from the corporate climates of ten years ago. With rapid advances in everything from technology to culture, even ethics and HR, our modern industry models are subject to the scrutiny and struggle that comes with trying to compete in our ever-evolving commercial community.

To keep pace with these sudden shifts and overdue advances, businesses must put their best foot forward in terms of technologies and strategies. The future must be fully embraced, not feared. This is easier said than done, especially if you are used to running your business on a model centered around the successes of the past.

Of course, finding your own way forward and understanding what works for your individual business is important. But, it is also imperative that you take a look into the future to insulate your interests from the competition of a developing landscape. We can all set aside just a few minutes to put the future in focus. I would like to present some ideas for how to think about the next evolution of your business.

1. Use automation to your advantage.

My first piece of advice comes from a practical place. At my company, we work hand in hand with a diverse set of customers across multiple sectors in the service and hospitality industry. Having spent time with so many different businesses, I have seen firsthand the distinct benefits that come from embracing automation.

In the past, implementing automation was a choice. Now it seems almost inevitable. Many businesses already rely on artificial intelligence (AI) instruments for payroll, computing, analysis and production, but there is also an overwhelming industry trend toward a new era of automation.

Tools like robots, process algorithms, integrated automation and industrial AI are transforming the way work is done. To be competitive in today’s business world, you must take stock of how technology is influencing your industry and do your best to keep stride. Sure, this process comes with a lot of questions, but that is how we grow. Imagine trying to run a successful accounting practice without Excel or an engineering firm without CAD software.

It’s by taking these small steps of change that we are able to evolve.

2. Practice open-mindedness.

Keeping an open mind is essential to dealing with change and preserving your relevance in the business world. Valuing multiple intellectual perspectives, values and opinions not only allows for more good ideas, it actually aids in general cognition. One UPenn study even suggests that open-mindedness gives people more insight into the actions, behaviors and patterns of other individuals. In the business world, this is probably one of the best skills you can develop.

Especially in today’s complex commercial community, it is important to understand where your customers, competitors and contemporaries are coming from. Keeping an open mind means so much more than simply leaving room for change.

3. Never stop asking questions.

The importance of continual learning should never be overlooked. Even if you are the highest authority in your field or profession, you should never stop trying to understand every aspect, impact and evolution that affects your trajectory.

In fact, the art of asking good questions is one of the most important skills in any art or science, and we all know business is both. A 2015 study even found that asking more questions made people come across as more responsive and thus more likable. Asking questions not only helps you learn about others but also helps others believe that you are on the same page. Apply this practice to any business model and it becomes a win-win.

I try to set aside time each week to assess areas where I could stand to ask a few questions. I challenge you to do the same and see where it takes you. I think you may be surprised.

Final thoughts

With the three tips I’ve outlined in this article, you can easily find ways to incorporate innovation into both everyday business functions and a broader future-focused strategy. Just remember to keep an open mind, look to the latest tech and never stop learning.