Whenever I talk about change, people think I’m joking. While speaking on “Twenty-Five Years From Now” at a conference, I highlighted things that will change within the next 23 years, and things that are already changing.
Young men and women across that would are changing the way we live through technology. Are you improving your skills to match the changes? Or are you saying that these changes will not affect you? Some people said that in the past, and they regretted it.
Do you know that Dropbox was founded in 2007 by two MIT students, Drew Houston and Arash Ferdowsi. Eleven years after, the value of Dropbox jumped to about $10 billion! Their revenue in 2017 is about $1 billion! What do they do? Hosting large files in the cloud.
Technology is changing the face of business globally. A young man can create a multibillion dollars business with his laptop in his bedroom without importing a container or building a factory.
Just imagine what your job will look like five years from now. Since knowledge in your field is probably doubling every two to five years, this means that 20 percent of your knowledge and skills are becoming obsolete each year.
In five years, you will be doing a brand new job with brand new knowledge and skills. Ask yourself, what parts of my knowledge, skills and work are becoming obsolete?
What are you likely to be doing one, two, three, four, and five years from today? What knowledge and skills will you need and how will you acquire them? What is your plan for your financial future?
Your earning ability today is largely dependent upon your knowledge, your skills and your ability to combine that knowledge and skills in such a way that you contribute value for which customers are going to pay.
The solution to the dilemma of unavailable changes and restructuring is continual self-improvement. Your personal knowledge and your ability to apply it are your most valuable assets.
To stay on top of your world, you must continually add to your knowledge and your skills. You must continually build up your mental assets if you want to enjoy continual high return on your investment. And only by building on your current assets do you stop them from deteriorating.
By engaging in continual self-improvement, you can be rest assured that you will always be at the top of your profession.
By learning more, you prepare yourself to earn more. You position yourself for tomorrow by developing the knowledge and skills that you need to be a valuable and productive part of the economy no matter which direction it goes.
You earn what you are worth, and you continually become more valuable, by learning the things you need to learn to get excellent results in your job.
Economist Joseph Schumpeter spoke about “gales of creative destruction,” predicting never-ending economic turbulence and change that would alter our economy.
Today, there are three factors that are totally disrupting our economic lives and future, and causing disruptions that are unpredictable:
1. Explosion of Information.
The amount of of information in the world is now doubling every two or three years. By 2020, some people say that the total written information in the world will be doubling every 72 days!
What are you doing about it? Are you increasing your knowledge consistently, or you are living in denial? The choice is yours. But whether you prepare for change or not, it will continue to disrupt the way we live.
2. The Revolution of Technology.
It is said that technology has a shelf life of six months. If it exists, it’s probably already obsolete. Who would have thought that creating social media platform will turn somebody into a billionaires many years ago?
If I wrote an article in 1980 and predicted that something will replace text message, some people would have stoned me. Start preparing for technology revolution. Stay on top of your game. Make sure you read books and articles weekly to be one step ahead of your peers.
3. Fierce Competition.
Many years ago, a trader can comfortably import goods from somewhere and sell to people because nobody knows where he imported the goods from.
Today, technology has bridged the gap. The same customers you used to sell to can also place order from the same company abroad. Nothing is hidden anymore. The world is now a global village, and the internet is the village square. Are you developing yourself to match this revolution?
If you want to know how to create wealth through technology, simply send an email via email@example.com or call me on 07032681154. Do it now!
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