Disruptive technology, accelerating speed of change and economic upheaval are changing the game. The same tired, old conventional thinking won’t get you to success today.
To profit from change, don’t just follow the latest trends and latch on to what everyone else is doing. Anticipate upheaval and benefit from the transformations roiling the modern world.
Prepare now for what is just over the horizon. If you want to catch an elephant, don’t follow it; “get in front of [it] and dig a big hole.
Technology has made millions of jobs and even whole industries redundant, and that’s not going to change any time soon. Many companies are living on borrowed time becauseof their obsolete business models. In Thailand, for instance, trained monkeys that are plucking coconuts from trees already displace human laborers. In the not-so-distant future, employers could clone their most productive employees, leaving even more people out of work.
Loyalty is out. If you stay too long in a company, you are a liability. Every crisis offers an opportunity. Technological advances will present new ways to make money, “because wealth is the product of humankind’s capacity to innovate.” But don’t think those opportunities lie ingadgets or systems; rather, they exist in how individuals use those tools.
Think of the three stages of the Internet: First, companies like Yahoo and Google managedand systematized massive amounts of web data in ways people could easily use. Then came social media firms, which gave individuals the means to connect. The “third wave”focuses on how to “monetize mobile.”
In one example, supermarket giant Tesco established “virtual stores” in Korean trainstations. These outlets do not carry products. Instead, they post signs showing products’photos and scan codes. Shoppers use their smartphones to scan the codes of items theywant to buy and to pay for them online. The goods arrive at their homes shortly thereafter.