Today’s advice comes from our interview with Amit Pamecha, founder and CEO of the cloud-based franchise management system FranConnect:
“Even though most of our customers weren’t ready for the cloud, we could see that that’s the way computing would be three, four, five years down the road. You can’t build your company on what sells today, you have to look at what would sell four to five years from now.”
Pamecha started FranConnect in 2001 before “cloud” was a buzzword, but soon everyone was scrambling to store critical data there. The company has now survived three recessions, and Pamecha says that the key to recession-proofing your business is looking into the future and anticipating what will be hot on the market.
It is risky, says Pamecha, but sometimes looking at where the larger companies are focusing their energies and predicting where they’re heading can help you organize your own business' direction.
“Of course, it’s a gamble of sorts. Companies didn’t trust the cloud [at first], didn’t want their data in the cloud, weren’t sure about the security... but nowadays everybody wants to be in the cloud, so it’s the exact opposite.”
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