Between the years 1400 and 1900 there were about a dozen inventions that changed the world. They include the printing press, steam power, the locomotive, the cotton gin, the internal combustion engine, the telegraph and telephone, and the automobile. Each of these inventions dramatically changed the way we do business. Just think, if you had been alive in 1945 and been able to predict everything from television to the microprocessor chip.
Today, a new level of technology is invented about every four months. These new technologies will, at some time soon, significantly impact the way you do business. Those that adapt and make the right strategic moves will thrive, those that sit back and watch will struggle to survive. This is easily the most exciting time to be alive in the history of man.
There is a new philosophy among technology buffs, “If it works, it’s obsolete.” Although working with new technology has its drawbacks, and for many people there is a gigantic learning curve, without the effort you will be left in the micro-dust of a new world.
Establishing a strategy for evaluating new technologies, and their impact on your business, should be an integral part of every business plan. No one wants to be involved in “bleeding edge” technology, and everyone should closely watch “cutting edge” technology.
Staying on top of changing technologies can be a full time task. Your best position usually will be to find the right series of consultants who are familiar with your business and who can bring new ideas and systems. Your business plan has to be open to change, creativity and new ways to communicate both with your employees and with your customers.
The motto for success has been, “Go back to the basics.” Today, those basics must be reinvented in order to move your business to the next level. The key element, make sure you have the right people supporting this process.
This complimentary newsletter is intended to provide general information. Because of the complexities and constant changes in the law, it is important to seek professional advice before acting on any of the matters covered herein.