Future
Missing The Bigger Picture – Are You Paying Attention?
I recently had a couple of close friends tell me they didn’t get my blog, they felt it was dribble and wasn’t useful to business people. I was kind of taken by surprise, and yet I wasn’t all that shocked either, mostly because people don’t get me at the best of times. I even felt a little sad and I think I felt sorry for them. Once I picked myself up off the floor and got past the sting, they got me to thinking.
When I started blogging, I spent most of my time talking about nanotechnology, shortly there after I started thinking about the bigger picture of how technology is and will impact society 5, 10, 15, 30 years down the road. How will business look in the next 3 – 5 years, helping business and individuals to create ideas to adopt the future of business. Showing you some trends and the paradigm shift that is taking place, after all, the industrial age is dead right.
I tried to explain to my friends what my blog was about, and they said, “OK, fine but it doesn’t give me answers for today”. I said, ” I’m not giving you answers, my goal and job is to make you think for yourself, to think of your own answers”. I merely want people to think for themselves, but it appears my friends want the answer handed to them on a silver platter. Which means, they are not paying attention to the bigger picture, they are only putting out fires rather than looking ahead. Is that you?
If you don’t pay attention to what’s coming, how and why are you in business? Every business is built on the very fact that there is and will be a future, if that’s true, why are you building a business? As I told my friends, my blog is trying to give you a glimpse of what’s to come, and hopefully, it helps get the creative juices flowing so you will be ready. If you are paying attention. If not, I see dead businesses.
There is much to be learned here on this blog, if you are paying attention. Are you starting to get my message yet?
I have to tell you, after a couple of hours sharing what it is my blog & I do, I wondered how difficult it was for you and others to understand what I’ve been sharing for the past number of years. I’m going to make it simple for you.
START PAYING ATTENTION TO THE BIGGER PICTURE!
Lift your head up and look down the road, start asking questions, start educating yourself because no one is going to do it for you. If I seem a little testy, it’s because I care, I want good things for you, but you have to play your role in this game called life & business.
If you were reading my blog and paying attention, you would know that there are another 3 billion people coming online in the next 2 -3 years, that 60% of all commerce will be done online, and that the industrial age is dead, no really it’s dead. You would also know, that there is an ROI in social media, that the world has gone crazy with being social and mobile, what does all this mean to you and your business? I have only mentioned a few things that should concern you, you should be worried about how this activity will impact your business, and for that matter your day-to-day life.
There, I feel better now. I hope you find at least one thing you can take away from this blog that helps, if not, ask me a question and lets talk about it. Afterall, I’m here to help, I want to help you figure out how to address the changes we are going through right now. It’s painful for some of you, it’s painful for me too.
Happy Blogging and pay attention to what’s going on around you, the world is watching, and the world needs you to be ready.
The Future Of Business – Twitter And FaceBook Credits
The Internet has changed how we view our world, it has changed how we spend our time and our money, and it has most definitely changed the way we do business. The future of business is getting more and more sci-fi, it’s hard to compute (no pun intended), but we are headed to a world we used to watch in movies.
Get ready for Facebook‘s virtual currency, Facebook Credits, will become the official coin of the realm beginning July 1, 2011. Imagine that, being able to purchase products and services with Twitter and FaceBook Credits, next you will be able to pay your mortgage with those credits. I’m all for that. In fact, in November 2010 The Dallas Mavericks Basketball team offered Free FaceBook Credits for Twitter Followers. Soon you and I will be able to make direct deposits to our bank accounts without ever having to go there, you will do it on your mobile device anytime, anywhere. Payroll direct deposit is archaic compared to the swipe technology of today. You will also make most of your purchase with this swipe technology on your smart-phone, it is predict 60% of all commerce will be done in this fashion.
The real future of business will be Virtual Reality and Hologram technology, but that technology is still developing, we will shop in our homes and never have to go out into the masses of people. Imagine being able to try on clothes without ever actually having to try on clothes, say what! Social Networks will handle all the market research, the data will be staggering, there’s a business to start, organize all that data and sell it back to the business sector. eMarketer has a similar model, they are a great resource but, you better have some coin to get the real valuable data. As Gerd Leonhard of The Futures Agency says, Data is the New Oil.
We are moving to a place where you can’t hide, you can’t lie, and you can’t have a bad product or service if you want to survive in this new business landscape. The world is becoming more and more mobile and social, that’s a hot tip for you right there.
So how do you succeed in the future of business? At a high level it’s simple really, grow bigger ears, get very mobile and social, and above all else, engage with the people formerly known as consumers, it’s not business as usual kids, pay attention. The business landscape is getting more open & free, that’s the business model, Open & Free. It’s an access first society, people want access more than they ever want to be sold and forced to pay upfront. Figure out how to give people access, and you will find the revenue follows, the toll booth is no longer at the front gate, it should be almost invisible and seamless.
Would you make purchase with Twitter and FaceBook Credits?
The Future Of Business – Klout & Influence
Most of you believe that Klout & Influence are important, you want it, and you tend to work towards finding ways to get it. I warn you, be careful what you wish for, you may get it only to find you don’t want it. Everyone, and I mean everyone wants their 15 minutes of fame at some point in their life, it’s part of human behaviour, and especially in affluent countries.
In the future, the next 15 years or so, it is predicted there will be 1 Billion Millionaires in the world, that number isn’t really that impressive because, the population will be over 9 Billion when the time comes. The majority will not be millionaires, it’s just more of what we have today.
In the future of business you will hear a lot about Klout & Influence, social networks are measured with these two terms as a way of determining who’s who. Websites like Klout and others are trying to bring credibility to individuals through mathematical measurements, it’s a digital representation of one’s possible klout & influence, not something human and tangible like integrity. One’s character and integrity should be in the equation somehow, it should be part of Klout & Influence scores in my humble opinion. But how do you measure motive and or doing the right thing, not too mention keeping your word.
Now Klout & Influence are not always related to money, so the number (millionaires) at the top is pretty small. The thing about Klout & Influence is, it wasn’t meant for those who have it. Those who have Klout & Influence are merely stewards of it. It’s really meant for those who don’t have it.
Martin Luther King had Klout & Influence, but he didn’t use it for his own gain, he used it to make the world a better place, more specifically for people that were being exploited, murdered and abused. For all people, not just black people to be blunt. This individual set an example of how Klout & Influence should be exercised, not hoarded and hidden away for private use, it was and is meant to help and serve others who don’t possess Klout & Influence. Unfortunately, we are greedy, we want more, and we want to be the one who says who can have what and when, we want control. I’m not convinced this is going to change anytime soon, it might change shape, but it will still be a problem for mankind for as long as we are on this earth.
Social Networks has brought out the kinder side of the human race for the most part, we genuinely want to help others, sometimes without expecting anything in return, but the dark side lurks. Unfortunately, there will always be those who take advantage of folks trying to make the world a better place.
The Future of Business, and success, will be measured by Klout & Influence, it’s the way we are headed, and it will be difficult to determine the true sense of the word success. It will be misleading at times, but I think it’s personal, we need to figure out how to link Integrity & good character into the equation. To ensure we are dealing with honorable individuals.
Your Klout & Influence should answer one question in your sphere of influence, your immediate world, How Many People Are Better Off Because You Lived?
City Hall Are You Paying Attention?
With the Global population rising to 9 Billion over the next 10 -15 years, some municipalities are still going to shrink, and many will increase beyond it’s ability to provide services. What will City Hall do with it’s collapsing tax basins. A disclaimer, I don’t for a minute claim to understand what it’s like to sit on a City Council. I wouldn’t want the job truth be told, so I’m not saying what they do is easy, anyone can point fingers and complain. We the people have really set City Hall up to fail, but that’s not my point. I am however, praying City hall is paying attention to a trend in our aging population, and business community.
Third world countries will have the most population growth over western countries, but we will eventually reach 9 Billion in the coming decade or so. The current challenge is not with the growth as much as it is with those wondering off to pasture, the baby boomers. The first of the baby boomers will turn 65 this year, but the real challenge is, the tail end of the baby boomers are turning 50 in 2014, and this generation is the largest portion of our population. That means the average age will be 40, the generations to come are unable to replace the boomers in the workforce, we will have to rely on immigration to fill the that gap. That is another topic for another time.
Imagine, today 50% of the population is over the age of 30, it won’t be long before 50% of the population is over 50. This trend will continue because we no linger birth children at the rate we used to, we could birth them fast enough to catchup and solve the problem of an aging world. The numbers alone don’t really show you the problem, it’s not the numbers as much as it is how the generations yet to come think. They won’t value what we value today. If you were to poll the under 20 generation today, they will tell you that ownership is not that important to them. The idea of owning a home, or a car for that matter, is not on the radar screen for most of them. They don’t value ownership the same way people do over the age of 40. What does that mean, less money filling the tax bucket in many municipalities. Is City Hall even looking at that problem?
The under 20 generation and the one’s to follow, will most likely buy into the co-op housing, or shoebox appartments long before owning a house on land. Why, They value lifestyle over workstyle. They are not willing to give up what many of us did to have the lifestyle we have, we traded our time for dollars, we worked to live. The younger generations don’t value work the same way, most people over the age of 40 have their identity wrapped up in what they do for work. Their work validates them, it is who they are, not what they do. Gen C and beyond do not have that conditioning to deal with, creating a different thought process on ownership of home and country.
City Hall also has to deal with another shift, 60% of all commerce is going online, that to may help shrink the tax basin. How? A local bricks & mortar business decides to sell it’s products and services online exclusively. Let’s say they have success. Before you know it, they have shutdown that bricks & mortar location, they discover they don’t even need an office, they’ve put everything out on the cloud, and then run their business by smartphone. How will that impact real estate, (read my thoughts on agents becoming obsolete here) let alone the tax revenues cities rely on. As you can see these shifts in thinking by the generations to come will rewite the rule book in every municipality. Is City Hall paying attention?
While all this is happening, we will have other issues to deal with, water shortages, possible food shortages and so on. We will enter into a society not unlike the one in the movie “The Book Of ELI”, in that movie, we kill (people) for things we throw away today. One man’s garbage is another mans treasure.
I don’t know how our City Hall’s will be able to change the way they think, but I hope they do, our communities depend on it. Protectionism and control are the current model of running a city, I fear that will be the undoing, because my kids kids won’t tolerate it.
This problem of an aging population belongs to all of us, we will have to work hard to maintain the economies and lifestyles we enjoy today here in the western front. What other challenges do you see?
Why Is Social Media So Hard To Understand?
I’ve been struggling with this question for some time now, I could go in so many directions on this question but, I’ll just share some random thoughts. Why is it that we default to our old conditioning when we don’t understand something? It’s a natural human behavior to either lash out or try to fit what we know to make things work. The square block into the round hole kind of thinking. Some businesses treat Social Media like any other advertising channel, they continue to practice what they have always done, they advertise, they yell, and then try to force you to listen, and then force you to buy. A HUGE mistake if you are asking me. The future of business is not business as usual friends, we are in the midst of a paradigm shift we can’t control with old practices.
To make matters even worse, the mobile movement is going to reshape not only how we communicate, but the landscape of commerce in the digital world. But that’s another topic for another time. The RESET button is being pushed, business is trying to prevent that reset. Why? They don’t understand what it means, and worse yet, they realize they can’t control it.
In order for the business of the future to survive, they will have to figure out how to give up some control to consumers. Provide access before revenue, actually listen to their customers, build a different relationship, and hire the right people who have a better understanding of this space called Social Media. This list is long and confusing, it requires a willingness to admit your business doesn’t get it. Humility will take you along way if you are willing to risk embarrassment.
In my community, we have people being hired to market on social networks, some of these people either don’t understand what to do, or they are being told to do things in a traditional manner because that’s what they know and understand. Business owners need to get out of the way, but how can they, they are wired to be in control. Taking risks in business these days only seems to happen in the start-up phase, why is that, probably because they believe the community needs what they are offering and will do whatever it takes to make it (risk). Once established, they lose they ability to risk again because they go into a management mode over what got them there in the first place.
Social Media has the ability to keep your business moving forward if you are willing to risk again. Let me give you a very low level, low risk, and simple example.
When a company wants to change something, it could be anything, what do they do? They go into the board room and try to find a solution to the problem, they look inward rather than outward. They try to solve their problem with the same thinking that got them to where they are, with a problem. Why not go out onto one of the Social Networks like Twitter or FaceBook and ask the world for a solution to your problem. You will be very surprised at the response you will get from the people formerly known as consumers. These are smart people, why not hire them for free and have them help you solve your challenge. Talk about building trust, an opportunity to actually have a relationship with those who buy your products and services. Your transparency and willingness to listen changes the relationship at a level yet to be calculated.
You as the business owner or leader, have an opportunity to take this even farther, what if you were to recognize the person or person’s responsible for solving your problem in a very public way? I’ll let you ponder that one.
We all are becoming very public, more and more we are putting our lives out there for all to see and learn. There is a risk in that act alone, consider long and hard what you put on the Internet, it’s now your legacy once it’s out there.
Building relationships is not new or changing, it like 60% of commerce has merely gone via the digital realm, that changes the rules, ummmm….what rules? Maybe the rules are the problem, maybe that is what the business world struggles with most, I think it still goes back to one thing and one thing only, Control.
When it’s all said and done, Social Media is not that complicated really. It’s forcing businesses to be human rather than machines that run by unchangeable rules. Start giving your business away to customers, let them help you and more importantly, treat them with the respect they deserve. Why? Because that’s what a Social Business does, it values those the same way you value people in your personal life. Stop trying to complicate Social Media by thinking too much. I could go long and deep on this topic but I’ll let you do comment and add value to the subject.