What is your future?

We believe that none of us can accurately predict the future. In business, however, we can speculate-forecast the future not only by listening to industry experts but can forecast and deciding the future direction of our business on our own. Simply begin by answering these four simple questions regarding the future, that is:

• Definition - What does the word "future" mean to you?
• Direction - What approach do we have to take the company to the future we envision?
• Mechanic - What mechanic can take us to the future?
• Timing - How far into the future do we project?

Now, do you have a clear vision of your future? If you said yes, get ready and prepare to follow AIS The Startup because today we're taking everyone to see some business ideas so you can drive your company forward and create the better future you've always aspired to!

Better ➡️ Efficient (Efficiency)

Everyone naturally wants their business to succeed. And the key to enhancing the efficiency of the future of the business to develop well is the interconnection of the Economic Dimension (Profit/Prosperity) + Environmental Dimension (Planet) + Social Dimension (People) = Interconnected Futures that can be shaped into Better Future and can result in an Efficient Future.

In business, foresight is thinking about what will happen in the future and creating an efficient future. So, we must have "awareness" and be prepared, along with understanding the present, the future, and what will result from the outcome of the future. which, in a nutshell, means that we must also consider the Future of The Future too.

As we know, the global growth trend since the COVID-19 outbreak is certain to paint a clear picture of steadily declining growth for everyone, and this trend is what the World Economic Forum refers to as the Near-Term Slowdown, which means a recession in a relatively short period of time. Meanwhile, entrepreneurs can adapt their business plans to current trends and plan for their company to be ready to take off in a new direction once the Near-Term Slowdown trend has passed.

And as the global economy slows, inflation has reached a new high. This has become one of the primary causes of the "Cost of Living Crisis” in our world, which has a direct impact on people's lives as well as their physical and mental health, forces businesses to face challenges and adjust their business strategies accordingly, such as,

• Improve the efficiency of the individual's work.
• Managing Supply-Chain Disruption affects the service and production sector throughout the supply chain from the production point to the consumption point.
• Will we be able to maintain the same price?
• How will we manage bad debts?
• Does our business have an impact on vulnerable groups?
• The Green Energy Roadmap, the Road to Green Energy

It is time for the business sector to adapt in order to respond to a changing future. There are 3 critical areas for entrepreneurs to focus on.

1. Internal Operations The changing business trends can have an impact in the following ways:

• Obsolescence caused by threats to Core Activities and Core Assets affects performance and benefit gains, including profits.
• Entering radical change and creating change.
• Not only productivity must be considered; but also, the benefit gains.
• Focus on Internal Operations.
• Error reduction is the new focus.

2. Investment - Funding Source

Many startups and entrepreneurs may view funding as an obstacle that makes launching a business challenging. In reality, however, entrepreneurs and investors reside on a different frequency that, if returned, could allow them to locate one another. In the modern era, having a partner like Live Exchange Platform provided by Stock Exchange of Thailand is referred to as facilitating access to additional funding sources for startups and entrepreneurs. Even so, the importance of ESG to investors has increased, because, in the near future, ESG will play a role in the expansion of all businesses.

3.Alignment - Running a business in alignment with customers and partners.

It's time for a Modernized Circular Economy that can be applied to every business, that focuses on reuse (recycling), new production (Manufacture), and new consumption (Consume).

Not Only Knowledge and Skill, But Also Attribute. Attributes are as important as knowledge and skills.

We may not have addressed this as much in Thailand. Many countries worldwide, however, are now paying more attention to attributes. The qualification that will be important in the future and that more people will be looking for is Charismatic Leadership or a leader's attributes that go beyond a position. Rather, it refers to a leader's ability to persuade, encourage, and increase the efficiency of team members to develop and forge ahead of oneself, because if we can't make people follow us and make ahead of us, it means we'll be slow still. Furthermore, the prominence of Charismatic Leadership is on the comprehension and ability to deploy social media in the right way.

Get yourself ready Now!

No more "waiting"! You can start preparing for what's to come today. Don't let it get to that point before taking action. Time = Money, don't just toss it away.

Reference from the "Future Trends Awards 2022" event on 16 December 2022 - Session: "Future You, Future World, Future Business" by Dr. Srihathai Prammanee, Manager of AIS The StartUp, Advance Info Service Public Company Limited (AIS)