The Key to Riches

img
img
img
img
shape
shape

The Key to Riches

Perhaps the most important factor affecting your life today is the speed of change. In all of human history, we have never experienced the rate of change that we are enduring today—except for next month and next year and for the rest of our lives. Three main factors are accelerating the rate of change and causing us to feel out of control. Our very best plans are often invalidated, sometimes overnight, by a change in one of these three critical areas. 

 

 

INFORMATION EXPLOSION

 

 

The first factor driving change is the information and knowledge explosion. Information and new ideas are expanding, growing, increasing faster and faster. One new piece of knowledge, one new idea or insight, can upset or overturn an entire industry, causing failure and bankruptcy. More smart people are developing more good and disruptive ideas today, in more different ways and on more different subjects, than at any other time in history. 

 

 

THE EXPANSION OF TECHNOLOGY 

 

 

The second factor driving change is technology—growing, expanding, and increasing at incredible speeds. Advances in technology can quickly transform entire industries. Think of companies like Nokia and BlackBerry that dominated their industries until the first iPhone was released in 2007. Within five years, both of these companies were virtually gone. BlackBerry went from controlling 49 percent of the business cell phone market to 0.4 percent in that time, and Nokia stopped selling cellular phones and sold out to Microsoft. One new technological breakthrough on the other side of the world can put you out of business as well if you do not respond to it quickly and appropriately. 

 

 

AGGRESSIVE COMPETITION 

 

 

The third factor, perhaps more disruptive than anything else, is competition. Your competitors are fiercer, more aggressive, and more determined than ever before—except for next week and next year. The competition is focused on using each new potential piece of information and breakthrough in technology to change and shape customer tastes, develop new products and services, and render obsolete whatever you are currently offering. 

 

Your competition is continually scouring the world of new information and technology, seeking opportunities to serve your customers with what they want better, faster, and cheaper than you are today. McDonald’s, the world’s leader in fast foods, has been caught flat-footed by companies like Chipotle Mexican Grill. The Gap and Abercrombie & Fitch have been blindsided by aggressive competitors offering more appropriate and betterquality products at comparable prices that are more in keeping with what customers want today. 

 

 

The equation is SOC = IE x TE x C (the speed of change is equal to information explosion times technology expansion times competition). And theonly thing we know is that the rate of change is going to be faster and faster in the months and years ahead. Charles Darwin wrote, “Survival goes not to the strongest or smartest of the species, but to the one most adaptable to change.” 

Comments

client

Orxdfw

ivermectin 3 mg - buy ivermectin canada ivermectin pills canada 05 May 2021 - 16:52:31
client

Rshuxf

ivermectin 8000 mcg - ivermectin uk ivermectin buy 07 May 2021 - 17:58:23
client

Omyzlj

stromectol tablet 3 mg - ivermectin 6mg dosage ivermectin humans 10 May 2021 - 02:32:33
client

Rfnxvg

plavix pills medication - plavix buy plavix tablet 12 May 2021 - 11:58:58
client

Pnavuk

pills for ed - different erectile dysfunction treatment options hot rod ed pills reviews 14 May 2021 - 15:05:31
client

Vqoeje

over the counter ed pills that work fast - fast acting natural ed pills do all male pornstars use ed pills 16 May 2021 - 17:54:52
client

Siabtp

wat doet sildenafil - hoeveel kost viagra sildenafil online bestellen zonder recept 19 May 2021 - 03:10:18
client

Dxfbob

comprar viagra barato - viagra generico contrareembolso viagra efectos 20 May 2021 - 16:20:52
client

Lealjd

bactrim medication - bactrim no prescription generic bactrim ds 22 May 2021 - 13:29:43
client

Pxqkwf

cialis 5mg tablets price - cialis professional generico sublingual cialis 24 May 2021 - 15:25:59
client

Uwysgh

generic cialis 10 - superatad cialis pills price 26 May 2021 - 18:52:45
client

Iilaux

duloxetine 15 mg - cymbalta online canada duloxetine over the counter 28 May 2021 - 08:30:02
client

Bvvrip

levothyroxine coupon - synthroid 100 mcg from canada levothyroxine 50 mcg in india 30 May 2021 - 07:41:01
client

Qpijdp

buy amoxicillin 500 mg online - amoxicillin 250 mg amoxicillin for sale 01 Jun 2021 - 11:29:12
client

Rfomys

buy vardenafil cheap - generic vardenafil us buy vardenafil 20 mg online 03 Jun 2021 - 09:37:57
client

Whpnbk

cialis generic vardenafil viagra - what does vardenafil do vardenafil online overnight delivery 05 Jun 2021 - 02:15:10
client

Qttgvr

cheap viagra canadian pharmacy - cheap canadian pharmacy online best canadian pharmacy to buy from 6 days ago
client

Faeqpz

cheapest genuine cialis online - where to get tadalafil without a prescription generic cialis nz 4 days ago
client

Seeiys

viagra 120mg over the counter - viagra 100mg cost in usa discount generic viagra 2 days ago
client

Vylswn

vardenafil rezeptfrei - levitra online buy vardenafil on line 19 hours ago

Leave a Comment

Top