Past, present, future — one leads to the next and learning along the way helps make the future brighter. Today, the security industry is a good business to be in, with diverse growth opportunities. The industry’s long-standing recurring monthly revenue model can carry a business through rough times and dramatically contributes to a company’s value. But given today’s world of fast-paced, constantly changing, and disruptive technologies, there’s more to planning and implementing strategies for future success than traditional methods. Let’s look at what can be done to stack the odds of future success in your favor.
Evaluate the past. Reflect on when your company started, the principles it was founded on, products offered, clients targeted and served, and the reputation earned. Identify key success factors over the years; what kept the business going and growing? Write down the company’s strengths over time that made sales happen, created happy customers, and produced profits. Consider those activities that remained constant throughout the years.