Planning For A “Warp Speed” Environment
June 8, 2017
Publisher, Arizona Journal of Real Estate & Business
In a sales driven industry such as real estate, searching for ways to increase personal production is always top of mind. Traditional strategies combined with new tactics can often lead to success. As pointed out by many professionals in our industry, smartphones, social media, websites, apps and video are a few “new” sales tools that are proving to be effective for business. Looking back, the speed in which these tools have become mainstream was fairly quick – although not as quick as what is ahead.
Many studies indicate technological advancements will begin increasing at a rate we have not experienced before – a “warp speed.” Some projections highlight that twenty years from now technological advancements will be hundreds of thousands to a million more advanced. This rate of speed makes the past decade plus of technology appear flat lined – meaning that we had no progress.
Deloitte, a consulting and research firm, says that one of the most significant areas of focus in the near future is how quickly companies will be able to transform their businesses to adapt to new technology – and keep up with consumer demands. With the speed in which technology is changing, it will be nearly impossible to anticipate every new development – making specialization a key consideration. New sales and business strategies that are relevant today may be less relevant within months not years. As the charts display below, timeframes for new developments rolled out to the marketplace will be much different than the past.
Following are just a few technology projections made by prominent research firms:
- By 2020, Gartner estimates there will be 26 billion connected devices via the “internet of things.” This term refers to the internet connecting with virtually any daily item such as household appliances, personal wear and machines.
- By 2021, Forrester predicts Robotics (Bots) and Artificial Intelligence (AI) will hold 6 percent of U.S. jobs including customer service, Uber and taxi drivers.
- By 2024, McKinsey reports blockchain technology, an online data ledger system, will be integrated into many businesses such as banks and retailers.
When looking to implement new sales strategies for business, another point to consider may be the role of planning. The next 5 years are expected to produce some amazing results.