3. Invest In Research and Development<\/span><\/h2>\nThe business environment is constantly changing and you have to innovate to stay relevant. Your business needs to keep changing and adopt new production methods, marketing strategies, and customer reach and acquisition techniques.\u00a0<\/span><\/p>\nFuture-proofing your business in this rapidly changing business environment requires investing in research and development. You must be able to produce better products and services for your customers and find ways to expand to new markets.<\/span><\/p>\n4. Listen To Your Customers<\/span><\/h2>\nAccording to Statista, 35% of businesses fail because there\u2019s no market need for their products or services. However, what the market wants changes with time, and you must keep up or go out of business. In other words, you must know what your customers want and give it to them.<\/span><\/p>\nListening to your customers can give you a glimpse of the newest trends, products in high demand, and the next big thing in the marketplace. You can learn what your customers want through in-person conversations, social media interactions, market polls, and research.<\/span><\/p>\n5. Streamline Business Operations<\/span><\/h2>\nStreamlining business operations can save costs and time and enable you to deal with unforeseen situations better. It involves assessing every operation and eliminating inefficiencies and unnecessary costs.<\/span><\/p>\nStart by tracking operations to eliminate bottlenecks, adopt required technologies, and optimize accordingly. Also, consider money-saving efforts like leasing company cars rather than buying to save on maintenance costs, taxes, and depreciation.<\/span><\/p>\nFuture-Proofing Readies Your Business for Anything<\/span><\/h2>\nUncertainty is the only thing you can be certain about in business. You cannot tell if the market will embrace your offerings or if you’ll have enough cash flow to keep your business going next year. However, future-proofing can help your business maneuver the murky business waters by giving it the ability to adapt, innovate, and advance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Starting a business means taking a huge risk. According to the U.S. Bureau of Statistics data, 50% of businesses fail before their fifth birthday. While such statistics could scare an aspiring entrepreneur, you can use them to future-proof your business. Future-proofing a business prepares it to avoid failure and survive downturns, crises, and pandemics. A […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[99],"_links":{"self":[{"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/posts\/63450"}],"collection":[{"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/comments?post=63450"}],"version-history":[{"count":2,"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/posts\/63450\/revisions"}],"predecessor-version":[{"id":63453,"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/posts\/63450\/revisions\/63453"}],"wp:attachment":[{"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/media?parent=63450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/categories?post=63450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oracleglobe.com\/wp-json\/wp\/v2\/tags?post=63450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}