It’s safe to say that we’re living in a time when the tidal wave of technology will keep progressing—whether we’re ready or not. Especially in the business world the velocity of new technology requires us to get a new set of survival skills. To adapt we must develop and flex with the advancements of technology; for better or for worse. Even if your organization isn’t considered a “technology” company, you’ll deal with it directly and indirectly as long as you’re alive. You should constantly ask yourself, “How will my skillset, service, product, or business be relevant in 5 years?” and “How can emerging technology propel me and my business?”
When talking about how technology can radically disrupt the way we live and do business, we love to use Tesla vehicles as an example. We’re impressed with an electric car that can go 130 miles per hour and about 300 miles on a single charge, but our interest peaks at the idea of a “self-driving” car. With Tesla cars already capable of this technology and more manufacturers following, within a few years we will see a huge shift in the role automobiles play in our lives and businesses.
The mantra of the car industry is to push out a new model every year. Ask yourself what self-driving cars will do to the demand of automobiles? Now imagine self-driving cars in fleets.
Exercise:
Imagine what will happen if and when a taxi service like Lyft creates a partnership with a self-driving car manufacturer like Tesla. Something like this could be a reality in just a few short years. We want you to take 2 minutes and think about some ways this scenario will impact your business, the economy, and daily life.
Suggestions: 1) Productivity during commute time will increase. 2) Car manufacturing companies will likely have fleets of self-driving cars. 3) The energy industry will also be deeply impacted and progress.
Thinking in these terms can jumpstart your acceptance and adaptation to new technologies and how they can make huge impacts on our society in very short periods of time. We suggest you consider this exercise with other types of emerging technologies. Brainstorm your own list with topics like robotics, solar, communications, science, genetics, 3D printing, virtual reality, and space travel.
It’s important to remember that technology isn’t the same thing as progress. In fact, some technology may set you back instead of propel you. Some technology may actually destroy something to accomplish something else. If you stay informed, you will be excited and prepared to see technology emerge. As technology is refined and becomes less expensive anything can happen to individuals, industries, and the economy.
How to Keep Up
First of all, believe that you can do it. To some people sniffing out new technology is second nature, but for others we need patience and trial and error to get comfortable with something new. Take heart and stick with it—if you fail in the self-checkout line the first time, don’t avoid it the next time. Dive in and give it some practice.
Technology has literally changed every aspect of the way any business operates and never before in history has that change occurred so fast. Below are five specific ways to keep up with technology.
- Network with the tech savvy crowd. If you don’t know a trusted tech-geek (and we mean that in a good way) ask around and find someone you trust to talk to about new technology. It also pays to hire consultants where needed to examine how specific technologies can help or hurt your business.
- Consult online resources. Books are incredible and we always recommend them. However when it comes to emerging tech, you may want to check out online resources that keep information fresh and current. We’ve shared some recommended sites in the resources below.
- Give it a try. If you want the inside track on the future, it’s nice to dive in and try. Let’s say you need to know more about how social media marketing will help you get more customers. With the depth of information available online through YouTube tutorials, Blogs, and educational websites like Lynda.com, you can get familiar with just about any aspect with a few hours of investment.
- Have an R&D budget. Learning new technology and ways it will impact your business absolutely falls into the realm of research and development. While you don’t need to go hog-wild buying all of the latest gadgets, you can set some cash aside for obtaining and learning the applications and devices that can help you most. You can also test tech for free. For example, would a webinar help you reach more clients at one time? Then sign up for a free trial period with a webinar tool or application like Zoom.us or join.me.
- Become a lifelong learner. Whether the learning is technology related or not, learning something new is always time well spent. Carve out time to learn new technology even if you’re not sure if or how it will help you. Otherwise you’ll be counting life not by years, but by the number of social media apps you don’t understand.
Online resources we recommend to get you started:
Executive’s guide to strategic tech planning: 2015 and beyond (free ebook)
Because technology, business, and your finances are intertwined, it may also be time to upgrade your financial strategy. At Paradigm Life, we’re dedicated to helping you do that. We also strongly support lifelong learning, and it is our mission at Paradigm Life to educate you about the best way to grow, manage, and save your wealth.
We want to share a strategy with you called Infinite Banking, and we are excited to invite you to take 2 minutes to sign up for a FREE, extensive eCourse called Infinite 101®. You’ll receive access to video tutorials, articles, and podcasts. It literally costs you nothing to become educated on this ideal financial strategy and start changing your wealth paradigm!
Take advantage of this FREE resource by clicking below.
FAQ
Q: How can individuals embrace their inner geek and stay technologically savvy?
A: Embracing your inner geek and staying tech-savvy involve exploring new gadgets and software, engaging in tech-related communities, and attending tech events to keep up with advancements. By actively participating in the tech world, individuals can foster their passion for technology and remain informed about the latest trends and innovations.
Q: Why is engagement in DIY tech projects important for tech enthusiasts?
A: Engaging in DIY tech projects allows individuals to gain hands-on experience, develop technical skills, and foster creativity, enhancing their expertise in the tech field. Additionally, it provides a practical avenue for applying knowledge and solving real-world tech challenges.
Q: How does continuous learning about emerging technologies contribute to staying tech-savvy?
A: Continuous learning about emerging technologies ensures individuals remain informed about the latest advancements, enabling them to adapt effectively and maintain up-to-date tech knowledge. This proactive approach empowers individuals to stay ahead in the ever-evolving tech landscape and make informed decisions.
