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4 min read
The future-proof entrepreneur
HUW EDWARDS
In a world where change is the only constant, being a successful entrepreneur requires more than just talent and hard work. While some people are chasing external validation, the true winners are preparing for what’s next. Many entrepreneurs feel stuck because they’re not adaptable to changes. Making it easy to panic or quit when faced with a negative outcome or even a new challenge.
Today we’ll explore must-have qualities of a future-proof entrepreneur.
🗯️ Adapt or Be Left Behind
Blockbuster used to rule the home entertainment world. With over 9,000 video rental stores, they were the go-to spot for movies and games. But they clung tightly to their old video rental model, refusing to see the changes happening all around them. They failed to recognize the profound shifts happening in the industry, as consumers began embracing new technologies like DVD rentals by mail.
That's when Netflix, an emerging startup came along with a revolutionary new idea — mail order, DVD rentals, followed by streaming video. As customer habits shifted, Netflix adapted quickly. Blockbuster? Not so much. In 2005, Netflix reportedly approached Blockbuster with an offer to sell the company for $50 million.
But Netflix was dismissed as a "small niche business." By the time Blockbuster realized the threat, it was too late. They filed for bankruptcy in 2010, while Netflix went on to dominate the industry. Blockbuster's downfall is a cautionary tale. Even the mightiest companies can be toppled if they refuse to adapt to change.
The future belongs to those who are willing to let go of the past and embrace new ways of doing things.
💔 Let The Last Strategy Go
Change is not just constant, it’s rapid. Its power is so startling. The positive or negative effects of change can be so unpredictable. One moment, you’ve got a hold of everything, the next you’re panic-reacting. Even though you’ve achieved a commendable level of success, you wake up one day feeling behind.
The approach that yielded great results and scaled your business is suddenly out of trend. You feel lost on how to fix the current challenge staring at you. You may begin to feel like you have no business being an entrepreneur. Or that you can’t keep up with the constant changes of trends or models. How did you get here? Clearly not because you lack the ability of being an entrepreneur.
But because you’re relying on the same tactics that brought you success yesterday, you’re subconsciously holding onto that strategy you’ve fallen in love with. Not realizing that the challenges of tomorrow may override the techniques you hold dearly. In the words of Peter Drucker “The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic.”
Markets shift rapidly, technology evolves, economic conditions fluctuate, and unexpected crises can disrupt even the best laid plans. Future proof entrepreneurs don’t rely on what worked the last time.
This is what they do.
🤯 Are You Built For Tomorrow?
The key to long-term success is anticipating what’s next.
Highly successful entrepreneurs ask themselves this question: “Am I doing enough to stay ahead?”
When you adopt an adaptive mindset, you stop reacting to change. That sense of needing more, doing more, being more that keeps you awake at night. You start anticipating change.
You’re thinking two steps ahead, and planning your next move. You’re open to innovation, staying curious, and ready to take calculated risks. Your experience pushes you to think further and prepare for future challenges and opportunities. You’re not afraid to experiment with new methods when necessary. You’re not averse to make bold decisions to improve your services. You’re willing to step out of your comfort zone. You’re mentally disciplined to remain strong and succeed no matter what is thrown at you.
So when you’re faced with market disruptions, you don’t panic. Because you have groomed your mind and body to overcome it and quickly adapt.
🤲 Adapt, Don’t React
The world is moving, changing, innovating. And so should you.
Here’s how you start building a future-proof mindset today:
Stay curious: make ChatGPT your friend. When you come across new cool ideas, use AI as a thought-partner to learn something new and challenge your old belief.
Make discomfort your growth hack: Replace screen time with challenging yourself to be better than you were yesterday. Each week, commit to doing something crazy you’ve not done before. Make sure it’s different from what you’re used to. That’s how you grow.
Focus on the long game: Imagine you are 80 years old and revisiting your current decisions. Are you playing the long game? Will your actions stand the test of time? Are you playing safe and comfy in short-term wins?
Pivot, don’t panic: When things don’t go as planned, resist the urge to panic. Pause. Spot the opportunity in the chaos, and adjust your approach. Use change to your advantage.
Craft your best self: Don’t be afraid to scrap what’s not working for you or your business. When it’s clear that change is needed, by all means make that change.
🎯 Rethink Your Approach
How will you adapt today to shape your tomorrow? It starts with how you view change. If you see it as a threat, you’ll limit your chance to grow, to evolve and soar. You’ll be simply surviving.
Future-proof entrepreneurs know that trying new things can spark innovation that makes you extraordinary.
That’s how you truly thrive.
P.S: Struggling to step out of your comfort zone? I’m here to help. Being open to change starts with building your mental toughness, and this is a major part of my framework for elite performers like you. Reply to this email and let’s get started.
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HUW EDWARDS
Founder & CEO
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