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What’s going to change our economic world……………….

Spent several hours with a very knowledgeable computer/software engineer; my question was, “What is going to change our economic world?” There are a lot of things that are going to change the way we function and thus, everything will change with it.

The example he shared had to do with a driverless car that Google has been demonstrating on the west coast. He said that the technology is here to make such an automobile functional, but the car dealers want to work on providing safety aids to the drivers, such as a buzzer letting you know that there is a car in a lane you are turning into or automatic brakes that stop your car if you are getting too close to the car in front of you.

The driverless car or truck will become a reality; and when it does, it will change everything from the car manufacturing business to new innovative ways for passengers to spend their time while being driven to a destination. When will this happen? He did not have an answer but felt very strongly that there are moves being made in this direction.

I did a little daydreaming of what driverless road transportation could mean and what opportunities there are now, leading up to the launch of this transportation mode.

I still wanted more information and asked my question in a different way: What new “tech item” do you see that will have a major impact on our economic climate? The answer he gave me I did not expect. “There are thousands of ideas for new innovations; success will come to the person that best implements an idea into a workable, consumer product/service.

Business wisdom sometimes comes from those that are totally removed from the business world. My companion today shared a basic truth: look at what services/products that are being used today and figure out how to make them perform the same function, better, in less time and with more efficiency. Radical new ideas are going to be developed from existing dreams that are based on basic business fundamentals.

One of my favorite magazines is Scientific American. Upon my return home I picked up July issue and looked at all the new technical discoveries presented. Every article addressed a new way to delve deeper into everyday scientific issues.

My “aha” moment was the realization that many of our business practices have become stagnant. While science and technology are changing before our very eyes, many businesses are repeating the same process that was used 20,30, or more years ago.

Perhaps many of us are “doing the same thing all the time and expecting different results.” This may be a good time to step outside your business box and see how you can improve your business. Can your products or services be made more efficient? Can they be easier to use and understand? Is there another delivery option?

If you lead change you will grow. What can you do in your business to take your products/services to the next level?

Nick J. Petra CFP    Subscribe to this blog at  and together we can lead the change in business formation and sustainability.


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