When helping newly formed businesses achieve open communications with various stakeholder groups, I observed that the greatest challenge lies in finding out what the business looks like in the not so distant future. Let’s take a look at the steps you need to take to achieve business success by 2020.

1. Everyone loves a forward-looking statement.

It’s a known fact that everybody loves a forward-looking statement. Whether it is pitching the business to potential investors, clients or employees, everyone looks out for signs of certainty, which is usually communicated with a forward-looking statement. For instance, “despite unprecedented challenges in the next five years, the business is here to stay”, and “come what may, the company will provide the best possible product for generations to come”.

2. But articulating the future of the business is also a challenging one.

However, arriving at a forward-looking statement is never an upward, linear process. It is easy to dream up a business idea, but it is even more difficult ensuring that the business will stay relevant in an ever-changing landscape.

I’ve seen clients share grand visions of how their business will make the world a better place, but it is a totally different ball game making that vision an impactful reality.

I’ve also seen clients struggle when it comes to envisioning how the business will thrive for another five, 10, 20 years. They are clearly stuck, yet feel obliged to evolve when various factors demand them to do so.

3. Work on the business, think big and be bold.

Time is often the enemy of entrepreneurs, but the best solution to communicating business success is to see clearly where the business is heading towards. Without it, the business will never steer forward if the leader of the company does not find the time to think what’s next.

Start by finding that mental space to envision the future. Fast forward to 2020, what do you see in the business? Thoroughly thinking through this question will help set higher goals for the company to reach unprecedented levels of growth, which in turn leads to greater self-confidence and belief that the best is yet to come.

Recently, I found this exercise useful for charting Q Communications’ future. At first glance, it seemed like a huge opportunity cost to step back from the daily grind, taking the time to think and strategise about how the business will grow. Now, I take comfort in knowing that the time spent putting together a thorough business plan can keep me focused on reaching organisational goals by 2020.

As such, I highly recommend every newly formed business to be forward-looking. Don’t rest on your laurels, keep challenging the status quo! Before you know it, you’ve got a clear, compelling business case to share with potential investors, clients and employees.

Here’s to many more entrepreneurial lessons in the years to come!