It’s been a good while since I last put my thoughts into a newsletter… sorry, I’ve been incredibly busy.
And do you know why that is?
… I’ve been taking some new technologies by the scruff of the neck and integrating them into my business – and it is that, rather than a glut of insolvencies (I wish!), which has been taking up my time.
The title of this newsletter is the start of a quotation by Robert Louis Stephenson, it ends with …. ‘but by the seeds you plant’.
I’ve been planting a lot of seeds.
You see so much is happening out there on the new technology front, great stuff that could be integrated into my business, that I’m going to be making it the subject of several of my next few newsletters – you see there’s a chance that you, or the people you know, could benefit from my triumphs and my pain (some of my seeds fell on barren ground). My newsletters will be in the nature of both observations and tips.
So why, when there are a lot of other important things that I could be doing, did I decide to focus on new technologies and for so long? These are the first of the observations – my why. Because you might just share some of them.
The first reason is…
… the pace of change in technology – and thus in me maintaining my competitive edge (just how important is that for a small businesses?) – has accelerated massively in recent years. And it’s only going to get faster. I simply had to invest my money and time here if I wanted to maintain my lifestyle and retain the control I, and not others, have over my life.
The second reason is…
… by bringing me into regular contact with people outside of my profession and normal sphere of operations who are great at technology, some of what they know and do rubs off on me such that by doing different things and the same differently I get to create my own opportunities to win some fantastic new ‘quality’ business that would otherwise be invisible to me. Unless I do this unpaid r&d type work exploring the new technologies there would be no high margin work – I’d be scrabbling around doing the low margin work my competitors do.
The third reason is…
… in the past if a business were not to embrace new ways of working or new markets, most of the time it would only hurt them slowly, over time. Nowadays, I don’t think that it is always the case, the pain caused by ignoring new technologies and ways of working is acute, sharper and quicker to come on, it’s not chronic.
The fourth reason is…
… Having low overheads means I have both the time and resources to make it my focus. This is the first instance of being in the right place at the right time, it’s luck, and most others do not have this luxury. It would be negligent of me if I didn’t take advantage of this massive commercial advantage.
The fifth reason…
… my nature and a lack of accountability. This is where I’m lucky again. As a member of Generation X, I didn’t grow up with a mobile phone in one hand and a rattle in the other so technology isn’t something that comes easy to me. But unlike most others in my peer group who have targets to meet, are accountable to someone else, or need to maintain an aura of invincibility, I am prepared to make mistakes, Lots of them!
Here are a few questions for you…
- How important to you is getting a good grasp of new and emerging technologies either in your business maintaining or gaining a competitive edge or in you maintaining your lifestyle?
- Do you share any of my 5 own personal reasons for this focus? Or do you have your own compelling reasons?
- Are you and your business where you need to be in order to attract in the sort of opportunities you really want?
- Should you be spending your time with a different set of people/organisations to gain a different mindset?
- What new, high margin, products or services could you create by adopting technologies borrowed from outside of your sector?
- What’s your attitude to spending, even potentially wasting, money or time on this sort of thing?
I have a request… quite an important one…
It’s partly to do with GDPR, it’s partly to do with me measuring how effective my newsletters really are. I’m having a massive clear out of my circulation list. I shall be deleting all the contacts my system is telling me aren’t regularly reading my stuff. So if this is you, or if you read from mobile (my systems don’t always recognise you’re opening things), but you still want to receive stuff from me, please email me separately asking to remain. If you’re a new reader and aren’t yet receiving my newsletters direct, but would like to, click on the following link to subscribe. Click here
Finally, because sometimes life is just too serious, do you remember this classic comedy sketch about new technology? Ronnie Corbett and Harry Enfield in the greengrocers.
Hope you continue reading, and if you have any insolvency business, I’m still here!
All the best
Midlands Business Recovery
T 01902 672323
M 07813 102014