Discover how Future Ready Businesses are building resilience in times of disruption
2020 has seen businesses of all shapes and sizes face some form of disruption.
Perhaps your whole team had to adapt to working remotely overnight, or maybe you had to close your doors altogether during periods of lockdown?
Being ready to adapt and think on your feet is a natural part of running your own business. But there are some other things that could help too, like the steps that have been taken by Future Ready Businesses (FRBs), as found in the Vodafone Business Future Ready Report 2020 [PDF: 18.6MB]
What is a Future Ready Business?
Future Ready Businesses are the companies that are most confident and well-prepared for emerging trends, challenges and possibilities.
They have six key characteristics:
Positive attitude to change
Open to new technology
Clear steps towards business transformation
Up-to-date with trends and uncertainties
Being Future Ready has nothing to do with your size. It’s about mindset.
And although no one could’ve predicted the pandemic, those plans have turned out to be crucial, with 83% of Future Ready SMEs with business continuity plans saying they worked well during the pandemic, and that they’ve seen fewer negative impacts as a result.
Many are embracing change. 30% strongly agree that crises like COVID-19 are the best possible time to be experimenting with new ways of working – compared to just 8% of the SMEs outside the Future Ready category.
Looking to the future
It is a mindset that appears to have made a big difference to the resilience – and the success – of businesses during the pandemic.
With circumstances having changed dramatically and continuing to do so, adaptability remains a vital trait for small business success.
Whether you're already a Future Ready Business or on the path towards becoming one, there’s never been a better time to take a step back, build on your strengths and experiment to not only survive, but thrive.