Give it a few years.
You won’t even recognize the industry you are operating in.
That’s because the rate of business model change is accelerating in every single industry. Here’s why:
- Right now, there are probably a bunch of really smart people figuring out to disrupt your business model
- If you aren’t busy thinking about to disrupt your business model, they most certainly will.
- They’ll probably do this sooner than you think they will.
- The result is that 10 years out (or less), your business model will look nothing like it does today.
- Those that do mess up your business model are quite likely to be younger than you; for many folks, age provides complacency.
- The fundamental change to your business model driven by this younger generation will be the result of digital, smart, intelligent, location-oriented technology.
- They’ll use this technology in such a way they’ll come out of left field with a business model idea that you’ve never even thought of before.
- Their business model will carry an undeniable ‘coolness factor’ that you can’t simply match.
- Most likely, you’ll discount the importance of their innovation, until it is much too late.
- The result will be dramatic change : such that perhaps 1/2 of what you sell right now won’t exist in 5 years, and 1/2 of what you’ll sell in 5 years doesn’t exist now.
Examples of this type of disruption are occurring all around us right now.
Simply take a look at the Square credit card reader for the iPhone, or the NEST Learning Thermostat. The future belongs to those who are fast!