Future-proofing your business model
Disruption awaits us all, whatever the nature of our business activities or markets. For some this may be happening faster than anticipated.
Recent years have seen an explosion of technological change and the emergence of entire new industries, from smart cities to fintech, block chain, augmented reality and the Internet of Things. In the face of these rapid changes, traditional investor thinking and business models also need to change. Previously we sought continuity, stability and consolidation in our markets and business focus, but what is considered secure today may be highly vulnerable tomorrow – think Nokia or Kodak. A new investor mindset is needed to expand the concept of “pivoting” and recognise the need for agility to keep pace with change and seize the multiple new opportunities as they arise.
As a forward-thinking entrepreneur, I believe future-proofing one’s business requires radical and different thinking. The traditional focused approach may hinder change and result in lost opportunities. Certainty can no longer be assumed, and even “pivoting” is limited by simply switching from one activity to another rather than engaging with the wider landscape. Agility does not necessarily imply lack of focus – quite the contrary, we can be focused on health but explore different technologies so that the sum of different parts is a stronger, more resilient proposition.
Today the pond is more crowded and complex; throwing a pebble into the water has limited effect. Throw several pebbles and not only does the surface become further disrupted but also greater interaction takes place.
Future Care’s business model is like this pond. It enables us to throw several disruptive initiatives into the mix, creating ripples of opportunity and interaction. Future-proofing means we can focus on our core business and generate ongoing revenue while at the same time collaborating with others to maximise on new opportunities, strengthen our business case and introduce new narratives. Concretely, if company B has a health solution using a new technology, and we have a vision using this technology, we can team up to create a mutually beneficial entity, exchanging equity and software licensing so that both Future Care and company B benefit. Apply this collaborative approach to an additional two or three other companies, and the pond becomes a much more vibrant, exciting and disruptive place from which to launch innovation, take advantage of opportunities as they arise and future-proof our businesses to ensure we are always several steps ahead of the game. This illustration shows how company B’s technology is licensed to a new company C, set up by Future Care to take company B’s technology as a stepping-stone to developing new initiatives that benefit both company B and C.
If we expand this to include other companies e.g. E & D, all will benefit from the synergy of shared visions, resources and markets.
As our business model matures and evolves, it offers investors and all stakeholders cumulative benefits.
Concrete example of our business model
Brain & Vision (B&V) is the first company to enter a relationship with Future Care. It has developed two augmented reality (AR) prototypes using HoloLens:
· Dyslexia – helping those with this learning disability to achieve their full potential while in education.
· Hard of hearing - enabling the hearing impaired to engage with the world of sound and convert sound into a visual representation that they can understand and participate in.
Both initiatives have other benefits and applications spanning different markets.
B&V’s technology can provide Future Care with elements that can be used to develop "MADE™" – My Augmented Data Environment and visa-versa. MADE™ has a patent pending and is a long-term initiative. At present, MADE™ has little or no monetary value due to the cost and limitations of the HoloLens technology. However, it provides Future Care with a building block to ensure we are at the forefront of this rapidly evolving area of health and wellness. It also provides us with new opportunities. Simultaneously, we are developing the skills and understanding of this market and have a schematic prototype so we can convincingly engage with this growing AR opportunity and community.
To summarise, Future Care has a market wide perspective and is actively engaged in validating market failures, validating solutions and validating customers.
We do not follow agile methodologies; rather our whole approach is lean, agile and proactive.
For more information and how to invest
We welcome feedback on this or any other issue so please do not hesitate to contact us. Alternatively, go to Future Care’s investment page if interested in Future Care opportunities.
If you would like to have a conversation or you have any questions then please CONTACT US or call us on our FREE phone number 0800 688 9194.
The Future Care (UK) Ltd is focused on medical, health and wellness tech across the UK’s National Health Service and Social Services.