How To Take Advantage of the Next Technological Disruption

Every so often, a technology change comes along that disrupts life as we know it. Sometimes, adopting the change costs so much that individuals cannot really capitalize on it without already having huge sums of wealth at their disposal. Take the first computers, for example. These giant monstrosities filled rooms and were substantially less powerful than today's mobile phones, but were so expensive that only governments and high end research facilities really had the funds to utilize them. Over time, though, additional technological developments made them ready to mass market, and the technology that allowed the personal computer to exist spawned several companies ready to take advantage of that breakthrough, such as Microsoft and Apple.

Notably, these companies did not invent the personal computer. They also were not primarily responsible for the technological breakthrough that allowed the PC to exist on an engineering level. Rather, they positioned themselves with software and ideas that fit perfectly with the new technology to create new business models.

The internet exploded in the 90's dot com boom as a leveling of the playing field for all. Finally, anyone with a PC and web access could preach their message to the world. Eventually, that led to commerce, and worldwide household names such as Amazon, Google, and eBay. It also spawned new platforms with social media, like Facebook and Twitter.

Peer-to-peer commerce is the latest new development, with traditional business models being displaced by Uber and AirBnB, whose job consists primarily of connecting two interested parties to conduct commerce, all while taking a small cut off the top. You might argue that Paypal and eBay were doing this twenty years ago and these new companies are just porting the model to other businesses.

All of these companies came about due to technology shifts, some of which required nothing more than hard work and an idea to break through. The companies grew and morphed, but all of them are still around today. Several others didn't make it, even though the playing field was fairly level. So how do you adapt for the next technology change and capitalize on it?

Anticipate Disruptive Technology

You can guarantee that technology will change and develop. We have not yet hit a stagnation point, even though some of the developments of late may look quite similar to things we already have. Still, new developments keep coming month after month and year after year.

Keep updated on what might be coming down the pipeline through social media and tech articles. As you notice new technologies being introduced, you can start to brainstorm how your business could morph and capitalize on the new tech. Not every technology will present an opportunity for your business, of course, but you should anticipate that new tech trends will come and potentially affect your market. Take the time to reflect on these trends and try to identify how your business might utilize them.

Be Ready to Pivot

Knowing that a new technology is coming to shake up your business or industry prepares you, but does not create success for you. Your business needs to be ready to pivot and adapt in order to take advantage of that technology. Drag your feet and someone else may find ways to put the new technological trend to a use that may make your business model completely irrelevant.

Successful businesses find a way to move in the direction that makes them more successful. While, not directly impacted by a technological trend, Groupon found its roots as a totally different concept called The Point and morphed with feedback from their user community into a focus on saving money en masse. Their ability to move kept them from fading into oblivion.

Likewise, we have seen companies like Borders books and Barnes and Noble struggle at best to compete with Amazon once the technology changed. Part of the failure was their ill-preparedness to pivot with the new technology changes around them, and in part, they failed in executing.

Perform with Excellence

For every one of the companies that took a technological advancement and made it into an empire, there are hundreds, if not thousands, who tried but found themselves unable to capitalize on it. For some, timing got in the way. For others, inability to scale prevented success. Whatever the reason, some who take a leap on a technology thrive, while others cannot execute and end up fading out of existence.

Whether you jump at a new technology innovation or continue to operate your business the same way that you have been running it, perform with excellence in mind. Your customers will notice. New startups attempting to disrupt a market find their path more difficult if the existing players have a reputation for outstanding customer service. Customers might even be willing to give the incumbent a little more time to catch up, knowing that the product and service that come out in the end will be superior.

For someone trying to make a name for themselves in an industry, outstanding service and performance always differentiate one competitor from another. In new markets, particularly, a commitment to excellence and customer service drives repeat business.

Conclusion

What technology buzzword in articles today will completely radicalize your business market in the coming years? Some enhanced mobile technology, maybe 5G? Augmented Reality? Blockchain? 

Whatever it might be, you need to get ahead of the curve. Start reading about upcoming technology trends and determine how it might affect your business as well as what opportunities it may hold. 

Be ready to pivot and pivot fast. Get your team used to moving quickly and changing direction with whatever makes the most sense. Those who drag their feet will get left behind.

And once you set a course, execute it as well as you can. Set a course that forces you to push past your competition in a commitment to performance. Make your company the best at what it does in the world. Customers will come to you.

And whatever happens, don't worry. It will continue to change.


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What Evernote's Policy Changes Mean to Me

I love Evernote.

Granted, sometimes I will admit I occasionally may use it as a dumping ground for things I am sure I will "get to later" only to forget to ever get around to them. But when I recall seeing something somewhere, chances are I have stashed it in my Evernote account. Over the last couple of years, I have managed to cram quite a bit of stuff in there, which formed the basis for my panic over the note that I received earlier this week around Evernote's change in policy to limit free users to two devices.

After reading more about the changes, though, I decided that the change will not particularly impact me as much as I originally thought. Still, my routine must change a little, as yours might, so here is a go-forward plan that you can feel free to adapt for your own use.

Conform To The Guidelines

I do not really have a choice but to conform to the new policy at first. Luckily, Evernote has given some adjustment time, which I am using to implement this plan.

The actual change for me as a basic user really boils down to only installing the actual Evernote app on two devices. Considering I primarily use it for blog ideas, marketing concepts and articles, and reading material, my home computer has to be one of those two devices. The other one has to be my phone. While I find typing extensively on my phone much more difficult than one of my other computers might be, the portability makes the choice for me. I almost always have my phone on me (unless I am in the pool), so whatever note I need to take whenever and wherever I might be, I will likely be able to access that device to do it.

Which leaves me to uninstall the app from the remaining devices I have (tablet and additional PCs). Once I do that, I should be in compliance with the new policy. Not only do you have to uninstall the app, though, but you need to revoke access to Evernote from those devices.

If you don't know how to do that, log into Evernote Web, then click your account in the bottom left corner and select Settings. Once you click on Devices, you have the option to Revoke Access to any of your devices that you choose to remove.

Continue to Use Extension Apps

My biggest panic went something like this: "But what if I am at work and I stumble across an article that I want to read about marketing or leadership or something, and I need to flag it so I can read it at home or on my phone later? Will I have to pick up my phone and then re-find the article and then save it there to Evernote?"

Luckily, there seems to be an easy answer to this. I already use Evernote Web Clipper to save articles to Evernote whenever I stumble across them on the web. Per Evernote's Device Guidelines, Web Clipper is not considered a device, so I can keep it installed across all of my Chrome browsers.

Breathe a sigh of relief.

My largest panic attack about these changes has subsided, and now I can explore a few other "what if" scenarios and move along.

Embrace Evernote Web

Apparently, not only does Web Clipper not count as a device, neither does utilizing Evernote via the web on any device. While I generally find the app much more functional than its web counterpart, the web version does support all of the functionality that I need. As a result, I can still utilize the web version on any computer or device where I don't have the app installed.

In this age of apps and mobility, switching to a web-only version seems like a regression of sorts. However, since this access will only back up the primary access and use of the extension applications, then it becomes more palatable.

Start Paying

Depending on how my plans work out, I may have to start paying for Evernote usage. All in all, that's not a bad option. I love the app, and I would consider the $35 per year a reasonable price for its usage. I am still a dinosaur, of sorts, though, in that I would rather pay perpetual license costs rather than subscription-based costs, though I understand that forms the foundation of the low-cost entry market and is likely the future of the software business.

As I continue along, the time may come for me to upgrade my Evernote plan. My hesitation in doing that right away is not the annual fee but rather the idea that an ongoing commitment year after year hides behind the initial purchase.

Find Other Options

As onorous as it might seem, if Evernote continues to change its policies, the possibility exists that I might need to find another option. Luckily, I've got Microsoft's OneNote as a potential substitute, though currently I use that for different purposes.

Still, part of any plan going forward has to acknowledge that Evernote may have a change in situation that results in additional, potentially more stringent, changes to their terms of service and pricing plans. I cannot fault them for reacting to their market and making whatever changes that they need to in order to survive as a company, but for continuity on my side, it serves as a wake up call that I may not always be able to rely on a third party to provide a service that I use on a regular basis. It has happened before - back when Yahoo bought Astrid and shut it down it took me months to find a suitable task management replacement.

Conclusion

Evernote's latest changes, though initially panic-inducing, turn out to not have much of an effect on the way that I utilize the application. I will have to make some adjustments to fall into compliance with the new policy, but overall, it won't change the way that I use the app on a daily basis.

That said, it still serves as a reminder to not be too dependent on third party software or companies for anything that I need or my business needs. Contingency plans have to be in place for every dependency, and honestly, I only have a few truly established.

What third parties do you depend on as a business? What is your contingency plan if it shuts down? The risk always exists that those things outside your control may go sideways, so how much do you depend on them continuing their current course? I'd love to hear your thoughts and start a dialogue, so feel free to drop me an email with your ideas. Or join the mailing list and we can continue the conversation on even more topics.
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