If in 2015, you are looking to work on your business not just in it, check out our weekday posts that get you thinking differently about an aspect of your business.
June's daily challenges will be focus on the Future of Work.
Day 1: Changes in the World of Work
With the future of work expected to be significantly different to today, how do you think your business will have to adapt to take advantage of the changes?
Day 2: It's time to evolve!
As new opportunities emerge in the world of work, it has been suggested that everything that has worked for organisations in the past (rules, practices, business models) is being challenged. How is your industry being disrupted? Will your business model still be relevant in 10 years?
Day 3: Receding Boundaries
As boundaries are being smashed across sectors, opportunities emerge as customers become more active participants within businesses. How are you utilising your active customers? Could bringing in an element of crowdsourcing give your business an edge?
Day 4: Lead the change!
If you change yourself, and only yourself, it is said you have the best chance of changing things around you too. This can also extend to organisations. As Mahatma Gandhi said "Be the change you wish to see in the world".
Day 5: Let it go!
A big trend being recognised in the future of work is the need to let it go – to let go of control, and let go of the past. Trying to cling to the past is a waste of effort. Instead start looking to the future, and consider the things you do now within your business that you would like to leave behind.
Day 6: Tomorrow's Mistakes are Today's Problems
We might like to think that tomorrow is always a fresh start, but in business failing to plan for tomorrow means mistakes already lie ahead. Identify some possible mistakes for tomorrow and think about how you can prepare for them today.
Day 7: Office Re-furb
We're already seeing changes to how and where we work – for example collaborative workspaces and teleworking have become popular ways to work. What workspace trends do you see emerging in the future? Have you considered updating your workspace?
Day 8: Happiness = Productivity
As a business becomes more busy and successful; employees start to strain under the pressure. Take some time today to review your company's culture. Make sure you communicate a shared vision with your employees.
Day 9: Talkin' bout my Generation
Successful companies are woven from individuals working together in teams whose make up spans the generations. As the ageing population grows, businesses are going to become made up of more diverse employees. Take the time to think about how you are going to keep your workforce generations happy and engaged.
Day 10: Thriving through Change
Whatever may come your way, leading your business through change can make you thrive. Being able to anticipate and make the most of disruptions is what distinguishes market leaders from others. How are you going to make change work, when the work keeps changing?
Day 11: Wrangling Data in the Future
As businesses around the world increasingly depend on data to inform their operations, the need for effective data strategies grows. In addition to changes in how data is controlled and accessed by businesses, data is now being captured in new ways. Consider how you might go about using new technologies such as sensors and 3D printing to collect and present data in your business.
Day 12: Reading your Fortune
While it's impossible to predict the future; we can imagine and prepare for it. While it is natural to think about events of the future as a continuation of today, these are only probable futures. What is important to prepare for are the surprising or unforeseen futures.
Take the time to consider what you KNOW will happen while also preparing for what you DO NOT KNOW will happen.
Day 13: Managing Future Employees
As more and more people are starting their own businesses, organisations seeking to attract and retain their top employees will need to move away from traditional employment practices, towards a future of work that is custom-made for each employee. Consider co-creating the roles you have with the talent you need.
Day 14: Technology and Marketing
What will the next five years of marketing look like? Will virtual reality advertising actually take hold? Experts suggest that the potential of the 'Internet of Things' will radically disrupt communication as everything becomes connected - from ads to product packaging. Think about how you might be able to utilise this potential advancement in your own marketing.
Day 15: Social (Media) Collaboration
The technologies of the consumer web such as Facebook, Twitter and LinkedIn, help encourage and support new behaviours such as creating communities, being open and transparent and sharing ideas. Consider how you might use these platforms within your business to help employees better collaborate.
Day 16: Connecting to Work
Mobility has become more than just being able to work and get access to people and information with a mobile device – it's also about being able to work from anywhere, anytime and on any device. As we move away from the notion of working 9 to 5, how are you making use of mobility and "connecting to work" within your business?
Day 17: Incentives
Let's face it – highly productive, successful employees come at a premium. As new work patterns emerge; there will be a new type of worker expecting different rewards. It's going to become more important for employees to receive the right rewards package including a healthy work-life balance.
Take the time to think about how you can better motivate or "incentivise" your employees in the future.
Day 18: It's a technological revolution!
Technology continues to transform the way we work. Video meetings and virtual meeting rooms are replacing teleconferencing, while digital platforms are being increasingly used for collaboration purposes. Despite all of the technological advances available, make sure you clearly define what you are going to use technology for.
Day 19: Competition Boom
A major change for all industries will be the emergence of competition from unlikely sources. New companies are already emerging and succeeding dramatically out of nowhere. How are you preparing for future competitors of your business – think about the ones you anticipate and the ones that may surprise you?
Day 20: The Workforce Evolution
The concept of retirement is slowly fading. There will be drastic change among all types of business as young employees are restricted in being able to progress as older employees stay on working longer. It's time to rethink how people are promoted, motivated and managed within your business.
Day 21: Going Global!
The world is becoming just like one big city – the language you speak, the currency you transact in and your physical location are starting to matter less and less. Already the boundaries to working with anyone anywhere are disappearing and this can only continue!
Do you see global expansion in your future? How will you do it?
Day 22: Let's Review
Today's challenge is to go back and think about what you have learned about the future of work this past month. What are you going to do to prepare for so much change?
For some helpful advice, visit the Lighthouse Facebook page for online articles and resources to help you complete the daily challenges.
About Lighthouse Business Innovation Centre
Lighthouse has a strong track record of supporting entrepreneurs, researchers and inventers on the path from concept to commercialisation. Since July 2008, Lighthouse has worked with over 990 distinct enterprises and provided group and peer based services to over 3400 enterprises and individuals. For over five years Lighthouse has successfully delivered business advice, education, mentorship and networking opportunities to help these businesses commercialise their ideas and grow their companies. Lighthouse also delivers programs such as the ACT Microcredit Program for the ACT Government. Visit www.lighthouseinnovation.com.au for more information.
