With the shaky economy, I am constantly hearing clients talk about how to get through the tough times now. While this is obviously a valid concern, I caution them not to forget about the future – specifically future demand.
Future demand is king for reasons that are self-evident, once you pause to think about it. Ultimately your growth will depend on your success in meeting the needs of customers you have yet to capture. What do they want today? What will they want in the future? Business winners are the ones who best answer these two questions, especially the second. At Capstone, we put painstaking effort into market research, and go to great lengths our attempts to predict future trends.
Once the orientation has shifted to future market demand, a tremendous clarity emerges in the strategic process. We have a basis for defining our criteria for decisions like: which direction to grow, which growth tactics to adopt, where in the market to focus and what to add to our current resources.
Although times may be tough now, your success as a company depends largely what plans you make for the future.