Economic downturns are like storms. They don’t show-up in the face. They always start small and in the distant past, gather momentum and show-up when you are not ready. If you build capabilities to track the contributing factors, analyse the trajectory based on previous experience, it is possible to predict. Like storm-notifications and rescue effort preparedness. But still, damages occur and need attention to fix and get-back-up. But, as we learn and adapt, predictability and impact will multiply.
Continue reading Sense-making and trendsettingCategory: Opportunities
How to spot opportunities in ever changing technology landscape
Technology landscape evolves by the day due to the effort of several individuals, universities, companies and government agencies. There are two kinds of evolutions – building new technology for solving something and using technology as a lever to solve something. Technology evolves faster with the wider usage in real-life applications. In order to spot opportunities and explore them, a structured experimentation approach will help.
As an Intrapreneur / Entrepreneur, if you want to spot opportunities with changes in technology landscapes, you mostly focus on applications. Finding answers to a set of questions is an easier way.
Try some of these unconventional ABCDEFGs:
• Assumptions – what existing assumptions this new tech is going to challenge, change? – Opportunity for new products, solutions, and applications
• Barriers – what barriers are required to cross for adoption?; what new barriers will this tech introduce for potential users/ applications? – Opportunity for hand-holding, consulting, training, solution accelerators
• Constraints – What constraints are to be dealt with in adopting?; what constraints this new tech is going to introduce for potential users/applications? Opportunities to innovate on business models
• Dependencies – what new dependencies this new tech is going to introduce for potential users/buyers/applications? – Opportunity to introduce complimentary services and solutions.
• Experiences – what changes in experience is this new tech is going to introduce for potential users/ buyers/ applications? – Opportunity to build new offerings and displace existing competition
• Future-shifters – how does production-supply-consumption pattern change due to this new tech leading to a full transformation of customer involvement in the process? – Opportunity to build a new base of customers and transformational value networks
• Global-scale – how does the technology adoption expand across the globe? -Opportunity to start local/ hyper-local and scale globally by partnering.
Every set of answers will provide you a list of opportunities to explore. The key to success, however, is dependent on three factors: Scope, Speed, and Scale of your pursuit. Since everyone around you will be more-or-less at a similar stage, you will always have a level-playing-field. Early starters always have the benefit of quick win or feedback to win better, quickly.
be a #dreamerdoer
Obstacles are opportunities to find better solutions
You make a promise. Make every possible attempt to keep it. During the course, you might encounter obstacles, additional or unanticipated problems. When we face issues we are not ready for, it is natural to feel dejected. When the pressure of keeping the promise builds more than you can handle, it becomes tougher. You might say “if only, this had not happened life would’ve been so good.”
Life is all about obstacles. There’s no path that’s free of roadblocks/ obstacles. Our job is to navigate through them and stay on course. You learn the tricks as you pass one obstacle after the other. Let the drive to keep the promise make you smart and help you find intelligent ways to circumvent well. That’s how you find new solutions that make your toolbox a bit more richer by the day. If you quit in the midway, you miss the opportunity to find new ways and new solutions.
Find a coach, a mentor who can guide you to navigate well. Read books. Follow sports, sportspersons. Keep a journal. Build courage to stay on course and make obstacles – opportunities to discover new possibilities. Make them remarkable!
be a dreamerdoer.