1 00:00:00,000 --> 00:00:02,670 So last few thoughts I want to leave you with before we 2 00:00:02,670 --> 00:00:05,480 move on from this area of creating new business 3 00:00:05,480 --> 00:00:09,090 is planning for the future and thinking about the future. 4 00:00:09,090 --> 00:00:13,500 The trouble is you can get so caught up with the day to day work of dealing 5 00:00:13,500 --> 00:00:17,520 with clients and all their problems and the challenges of keeping 6 00:00:17,520 --> 00:00:21,230 up-to-date with the latest web techniques that we don't spend enough 7 00:00:21,230 --> 00:00:24,690 time to think about the future of all businesses. 8 00:00:24,690 --> 00:00:29,660 We need to be really careful that we plan our businesses properly 9 00:00:29,660 --> 00:00:32,980 and we're always looking ahead to the next step. 10 00:00:32,980 --> 00:00:38,560 So, is it really important to stay focus and not to over stretched yourselves 11 00:00:38,560 --> 00:00:41,980 that we can get so ambitious with our plans sometimes 12 00:00:41,980 --> 00:00:45,820 and start so many different things that we never follow through. 13 00:00:45,820 --> 00:00:48,570 So there is a balance to be struck here. 14 00:00:48,570 --> 00:00:55,070 With planning for the future, trying new stuff, but also not over stretching ourselves. 15 00:00:55,070 --> 00:01:00,340 The key here is to set aside regular time to think strategically 16 00:01:00,340 --> 00:01:03,210 about where we're going with our business. 17 00:01:03,210 --> 00:01:07,030 It's so hard to do but so incredibly important. 18 00:01:08,030 --> 00:01:12,810 So let's take a moment to consider how we go about setting aside that time 19 00:01:12,810 --> 00:01:15,630 and what we do with that time when we have it. 20 00:01:16,480 --> 00:01:18,080 The first piece of advice I would provide 21 00:01:18,080 --> 00:01:20,800 is consider getting an outside perspective. 22 00:01:21,160 --> 00:01:24,560 At our company, we have a nonexecutive director 23 00:01:24,560 --> 00:01:29,720 that is not involved in the day to day work of our web design agency at all. 24 00:01:29,720 --> 00:01:33,560 Instead, we get him in to provide a fresh perspective. 25 00:01:33,560 --> 00:01:36,310 This has a couple of benefits. 26 00:01:36,310 --> 00:01:40,510 First of all, it means that there are designated times when he is coming in 27 00:01:40,510 --> 00:01:44,830 that we have to stop day to day work and think strategically 28 00:01:44,830 --> 00:01:47,180 about the future direction of the company. 29 00:01:47,180 --> 00:01:51,050 The second benefit is he encourages us to think in ways 30 00:01:51,050 --> 00:01:53,090 that we've never thought before. 31 00:01:53,090 --> 00:01:56,170 Because he is outside of the business, he provides a perspective 32 00:01:56,170 --> 00:02:00,360 that we can never have if somebody that works day to day in the business. 33 00:02:00,360 --> 00:02:04,700 He provides that different perspective you need, and you need to find 34 00:02:04,700 --> 00:02:08,860 somebody that does view the world very differently to you. 35 00:02:08,860 --> 00:02:13,420 For example, the person that we have is our known executive director. 36 00:02:13,420 --> 00:02:17,510 He is used to working with companies that have an exit strategy, 37 00:02:17,510 --> 00:02:20,590 that build up and then they're sold off by the owners. 38 00:02:20,590 --> 00:02:26,260 So we are very different for him because we run a lifestyle business. 39 00:02:26,260 --> 00:02:29,260 But, he is constantly challenging us to maybe be more 40 00:02:29,260 --> 00:02:32,150 ambitious in our plans for the business. 41 00:02:32,150 --> 00:02:35,670 So having someone with a different perspective is hugely useful. 42 00:02:35,670 --> 00:02:39,860 Another piece of advice when it comes to planning for the future 43 00:02:39,860 --> 00:02:42,170 is to stay flexible. 44 00:02:42,170 --> 00:02:45,040 It's so easy to get entrenched in ways of working. 45 00:02:45,040 --> 00:02:48,430 And see you always need to keep an eye out and ask yourself, 46 00:02:48,430 --> 00:02:52,670 Are the things that I've done in the past still relevant in the future? 47 00:02:53,670 --> 00:02:59,050 For example, it's so easy to get so deeply entrenched with the particular technology 48 00:02:59,050 --> 00:03:03,270 or particular way of working that when something new and radical comes along 49 00:03:03,270 --> 00:03:05,640 it's too much for us to cope with. 50 00:03:05,640 --> 00:03:11,620 Maintaining that flexibility is the secret to running a successful business long term. 51 00:03:11,620 --> 00:03:15,850 You also need to be willing to take calculated risks. 52 00:03:15,850 --> 00:03:21,010 We've done so many things as a company where we've tried new areas 53 00:03:21,010 --> 00:03:23,500 where we branched out into different directions. 54 00:03:23,500 --> 00:03:27,050 Some of those have succeeded but I have to be honest, 55 00:03:27,050 --> 00:03:31,740 a lot of them have failed and you need to do it anyway. 56 00:03:31,740 --> 00:03:36,520 Don't let failure demoralize you. 57 00:03:36,520 --> 00:03:38,770 Make sure you've got good cash reserves behind you to 58 00:03:38,770 --> 00:03:41,690 support you when do make mistakes. 59 00:03:41,690 --> 00:03:43,600 And you'll be fine. 60 00:03:43,600 --> 00:03:47,990 Winston Churchill said the best quote that I love more than anything else 61 00:03:47,990 --> 00:03:52,640 and I apply it everyday when I think about growing my business. 62 00:03:52,680 --> 00:03:57,110 The quote was "Success is going from failure to failure 63 00:03:57,110 --> 00:03:59,390 with no loss of enthusiasm."