Ready Entrepreneur

Understanding Tech as an Aspiring Entrepreneur

Why should you care about technology as an entrepreneur?  Not the smartphone in your hand or the laptop on your desk, but the entire realm of technology advancement and achievement.  The transition from an industrial to a technology society.

Technology is the practical application of knowledge in a particular area, or the capability presented by that knowledge (Merriam-Webster dictionary).  

What does that mean to you as a business person in the 21st century? 

How should you be thinking about these incredible tech developments as an entrepreneur?

In this article, we look at the use and application of technology for your business, lifestyle and the future, this article and the accompanying three-part podcast series look at technology not from a purely technical place, but from a more philosophical place. 

As an aspiring entrepreneur in the 21st century, you should have an idea of how you view the advent of technology in our economy, and the impact on our society.

You can develop a tech plan that fits your business, lifestyle and future plans.

Business:  As a business person, you will implement technology into your operations, but you will also have to be aware of how technology affects your business, and your customers.

Lifestyle:  As you use technology to build your business, you (hopefully) will be in a position to transition your lifestyle, and use some of the advances you have learned to improve your own standard of living. 

Future:  And what does the future hold for your business and lifestyle as technology continues to advance and change our lives?  What are some of the issues you should be aware of as you make the transition to the next century? 

Your Business 

As an aspiring entrepreneur, you need to formulate in your mind how you want to see technology as you build your business.  Aside from determining which technology tools you are interested in using such as e-mail management software or websites, what will technology mean to you as you move forward? 

Is technology a life force you will incorporate at every turn, a hindrance, or a conspirator in exploitation you will use for nefarious ends? 

For comparison, we can look at how technology was viewed by witnesses of the transformation from the agrarian to the industrial age.  Imagine how people had to view their lives when they began to see the transformation as described here in Frank Norris’s 1903 book ‘The Pit: A Story of Chicago: 

…the life was tremendous.  All around, on every side, in every direction the vast machinery of Commonwealth clashed and thundered from dawn to dark and dark till dawn..carrying Trade – the life blood of nations…bringing Trade – a galvanising elixir – from the very ends and corners of the continent…The Great Grey City, brooking no rival, imposed its dominion upon a reach of country larger than many a kingdom of the Old World.  For, thousands of miles beyond its confines was its influence felt…It was Empire, the resistless subjugation of all this central world…whence inevitablity must comes its immeasurable power, its infinite, inexhaustible vitality…the true life – the true power and spirit of America; gigantic, crude with the crudity of youth, disdaining rivalry; sane and healthy and vigorous; brutal in its ambition, arrogant in the new-found knowledge of its giant strength, prodigal of its wealth, infinite in its desires…In its capacity boundless, in its courage indomitable; subduing the wilderness in a single generation, defying calamity, and through the flame and debris of a commonwealth in ashes, rising suddenly renewed, formidable and Titanic.

The character Laura says….”I suppose it’s civilisation in the making, the thing that isn’t meant to be seen, as though it were too elemental – primordial….”

The character recognizes a little bit of fear for this force of technology and industry that is changing civilization, but is also impressed and awed by its presence.  At the turn of that century, and in the coming of the industrial age, people had to understand not only the obvious power of the machinery, but the impact it will have on humanity. 

But in the industrial age, you could look technology in the eye.  You could see it in its drama and majesty.  The negative impact on the environment and the average worker was visible and obvious.  The changes that were to come – in law and society – had plenty of examples about why they were needed. 

Today, in the 21st century, in the transition to the technology age, many of the impacts are unseen, far-reaching and unknown. 

Certainly you know Facebook is a gigantic company used by billions, but you probably have no idea what the technology is doing each time you click, post, like or follow on a page. 

As an aspiring entrepreneur, when you think about how you want to build and grow your business.  Think about how you will use technology, and consider these four issues: privacy, opportunity, accessibility and impact as you either formally or informally create your tech plan. 

Privacy

The changing concept of privacy is one of our biggest challenges.  Most people have traded privacy for convenience, the right to use free services.  But few truly understands what their acquiescence means.  Technology companies do not reveal the details of their algorithms, nor the scope and range of how they use and manipulate data.  

An entrepreneur, using the Internet in any form, must be aware of these issues.  For example, you may collect e-mail addresses.  What are you going to do with those e-mail addresses?  When you add a Facebook pixel to a webpage, what data are you collecting and how will you use it?  

As an entrepreneur, you should be prepared to explain what you are doing with the data you can collect.  You should also be aware of your responsibility, and have a plan for protecting the data.   The blanket ability to collect data does not necessarily mean you should blindly participate in the process.  But if you do, you should also have policies that clearly define how you are participating and your intentions going forward. 

Opportunity

With new technologies, opportunity is rapid and tempting.  A new software, service or device may allow you to change your business model, provide better products or make more money.  New technologies are rapidly adopted, and companies encourage early adopters to promote their views. 

As each new technology comes on line, even if the product permits you to have access to data or applications you were not expecting, you must still consider if using the product makes sense for your business and your consumers.  

You may have an opportunity to do something spectacular or destroy your business with recklessness.  Opportunity does not necessarily mean an open door.  

Accessibility

Technology is everywhere and there are many ways that you can use it.  Accessibility in this case does not refer to tech tools for the physically-challenged.  This accessibility concept is about how a global audience can find you. 

As a globally-thinking entrepreneur, you want to make your product or service as accessible as possible through the available tools.  When you do this, think about who you are trying to reach and the best methods for spreading information about your offering. 

Some potential customers may only access the Internet on their phone, others may use public services with time limits.  If you want to spread your message widely, use technology in a way that lets others access it as well. 

Impact

You have a chance today to make an impact far beyond your own laptop.  In Frank Norris’s Chicago described in the book The Pit: 

…axes and saws bit the bark of century-old trees, stimulated by the city’s energy…her force turned the wheels of harvester and seeder a thousand miles distant…spun the screws and propellers of innumerable squadrons of lake steamers…. 

The impact is direct and present.  

In the 21st century as you build your business now, your impact is likely to be through words if you teach or coach online, or contact if you create an app or software as a service, or even directly if you place a product in someone’s hands.  

In all cases, you are still part of an economy of industry and action, but with technology you can move faster and have a greater reach, even more so than in a newly industrializing city in the last century. 

A 21st century entrepreneur should have a position on technology.  For example, consider: 

Technology as a force for good, one that will help us mend our ways and fix our ills – but only if it is deployed well 

To make technology a force for good, society needs innovative practices, creativity and facilitation – recognizing that there are things we do and do not want in our economy.  

In so many aspects of our lives, we want the best that technology has to offer, but we have to recognize that also means taking the worst.  As an entrepreneur, are you fueling a hate-filled society by using social media? Or just trying to get the word out about your product? 

Given the customer-facing issues discussed above:  privacy, opportunity, accessibility and impact – you can create your own tech policy. 

You may decide you will always protect your customers’ data and never sell e-mails to third parties.  But you cannot stop there.  You have to understand how other technology services that you are using affect your customers.  You do not want to inadvertently break your own policy by not understanding the one used by entities you access. 

On opportunity – decide to weigh your technology decisions carefully.  You do not want to just chase the shiny apple.  If there is an idea that might work for you, make sure the technology is really an opportunity and not just another fast sale from the latest hot thing. 

On accessibility – think global, always.  If appropriate for your product or service, keep your content simple, clean, clear, open and honest for an audience that can understand your message at all times.  And even if your product or service is more ‘adult,’ remember you still have a global audience. 

On impact – recognize you are delivering a message in everything you do.  What is it?  How do you want to potential customers to see you?  And what should be the takeaway? 

The purpose of Ready Entrepreneur is to help aspiring entrepreneurs achieve the dream lifestyle of financial and schedule independence by learning how to use the global marketplace and new technologies to start your own business.  

In my book Life Dream: Seven Universal Moves to Get the Life you want through Entrepreneurship, you can find the steps you can take to help you move forward with getting your business launched.  As you move through each of those steps, you want to be considering where technology fits in your progress. 

The goal is to help you deliver the value you have as an entrepreneur to the global marketplace. 

YOUR LIFESTYLE

 One of the key benefits of becoming an entrepreneur is to live your dream lifestyle – right?  Where does technology fit in that picture?  Are you prepared to use technology to separate you from day-to-day work?  Or are you just waiting for the cocktail-serving robot to get you through your day? 

If you are a fan of technology, you may be thinking all the time about how you can incorporate technology solutions into your business to help facilitate your lifestyle. 

Some of you may have the Hollywood vision – lying by the pool, being waited on, driving a fast Italian sportscar or a Rolls-Royce, and having people do whatever you say whenever you say it.  You have no demands, no unmet desires and no troubles or issues. 

Others may be thinking – you just want to quit your 9-to-5, get away from annoying people and do what you really want to do all day.

Some of you, like me, are traveling all over the world.  

Considering your vision and how the idea of a ‘dream lifestyle’ plays out for you – what is technology doing to help you? 

At Ready Entrepreneur, the idea is to get you started on your business.  We focus on getting the confidence, time and money to get started, picking an idea that delivers value to the global marketplace, putting that idea into action, and then transitioning to the lifestyle of your dreams.  

When you follow the path – confidence, time, money, value, action, lifestyle – how does technology move in to help you make that final transition into the life you really want? 

And why do you care? 

The idea is to develop an approach and understanding about technology and what it means to you, so that you can adapt your tech plan to your purposes as you make the transition to entrepreneurship. 

And in your entrepreneurship transition is your new lifestyle. 

For many people this means business runs in the background, which means tech tool are in place to transform your life. 

Business in the background

In the typical entrepreneurial dream lifestyle world, your business runs itself.  That means in almost all cases you will be using technology to make that happen.  If that’s your approach, you are going to want to set-up systems and processes from day one that are automatic or independent.  You may even want to build your business around this idea. 

What are the ideas you can use to have your business running on auto-pilot without you? 

Virtual assistants, concierges

You can start with remote personal help.  In your dream life, you tend to be self-sufficient which means you may want to add a virtual assistant or concierge who supports your work.  

When you go to work with someone virtually the key is to know exactly what you want that person to do and how you want them to do it – then leave them alone. 

Once you have set up a good working situation with a virtual assistant, you can feel confident in freeing up time for yourself. 

 Outsourcing

The term outsource has become a bit of a dirty word in the corporate world where the practice removes people from their jobs and gives their tasks to people who earn less money.  

But as an entrepreneur, you are likely going to look at outsourcing as a way to help you avoid tasks that you do not do well. 

One of the best ways to use outsourcing is to fill in for the type of work that you do not like to do.  This frees up your time to do other things while the job gets done in the background.  As you develop your business consider the tasks you do not want to do and look for outsourcing options. 

Once you have the business running in a way that frees up your time, what are you going to do with the time?  

If you are a fan of technology, you will likely find apps or other tools to help drive your leisure activity as much as your business.  

As you make the transition to an entrepreneurship lifestyle, keep in mind what you like to do and how you like to do it.  Use the tech tools that facilitate your decisions and make your life easier.  And stay connected to your own ideas about how you want to make things work. 

Technology in your lifestyle does not have to be a burden – an extension of the always buzzing smartphone tied to your hand.  It can be a support, an assistant, a part of the infrastructure of your new business that you are able to use to your advantage.  

As you develop a tech plan for your business, develop one for your lifestyle too.  Incorporate technology into your decisions beyond the obvious.  And keep an eye out for new technologies that may be even more useful as your processes are understood. 

The complete path to life as a ready entrepreneur includes making a successful transition to your dream lifestyle by incorporating the ideas and practices of your business life into your civilian life.  You use one to support the other. 

THE FUTURE 

Is technology taking over the world?  Will we eventually be slaves to the machine?  And either way how do you manage to prevent this apocalypse from happening to you?  As an entrepreneur you want to be ready for the future, for the role technology will play and for the adjustments society will have to make. 

At some point in the not too distant future, we as a society are going to have to define what the technological revolution means to humanity.  And you as a globally-thinking entrepreneur will be right there, trying to decide where we are going.  Changes may be imposed on you by technology before you have even had a chance to think differently. 

How do you plan to adapt? 

Here are some ideas to think about: 

The world is moving from an industrial to a technological society.  In the past when we moved from agriculture to industry, the changes were profound.  But human beings still maintained an element of control.  

Now as we go from industry to technology, changes are happening quickly.  So quickly, we do not even know all the changes that have taken place and the impact these processes have had on society. 

As an entrepreneur, you need to be aware of these transitions because a changing economy, and evolving consumer behavior have an effect on your ability to deliver your product or service to the global marketplace.  

If the government brings in legislation designed to control big tech companies, and it ends up limiting your ability to function online – what happens to your business? 

If all education moves online, will you understand the knowledge background your potential customers have? 

Do flying cars and drone delivery affect your business opportunity if you have to send everything via courier services? 

In a surveillance world, do you have a product or service people do not want to be seen buying? 

In the battle for online privacy, are you protecting your customer data?  How far is privacy going – are you aligned with companies that are using your consumer data? 

If law enforcement tools are enriched to target people before they act will your business be caught up in delivering customer information to law enforcement entities without your customer’s approval? 

If social media and the use of smartphones changes consumer behavior, what does that mean for your business? 

While all these questions may not all seem relevant today, you are probably aware that processes are taking place that already have upended common practices. 

For example, if you are surfing online for something like – storage spaces – you begin to get promoted ads in social media for – storage spaces?  Why does that happen?  And do you care?  You should care if you are in the storage business and not one of the promoted ads.  And you should care as a businessperson in general. 

We are learning to live with cross-site tech tools that follow us all over the Internet.  But if your company cannot afford to compete at that level, can you afford to compete at all? 

Online and digital tools are being invented based on the way society functions today.  But how will we evolve if the status quo is literally coded in to our machines?  How will your business be successful if the playing field is coded against you? 

These questions are designed to plant into your mind the idea that technology is moving forward without consumer input, regulation or oversight.  That’s not always a bad thing, but as an entrepreneur you have to stay awake, aware and ready to correct or adapt to advances that negatively affect your business.  

In general, without an idea about how society wants to move forward or where we want to take our future, we do not have a say in the changes that are taking place and how they will affect us. 

We need to develop fundamental ideas about where we want to end up as a society. 

Do we want to trade privacy for convenience?  In many cases, we already have. 

Do you want a world that is free if you pay with your data?  In reality, nothing is free.  There is a price to be paid for the tools we are using for free.  So far the price is your personal data.  If these services move to pay for privacy services, the gap between rich and poor could also become a privacy gap.

How do we encourage creativity and innovation, reward those who do the work, but continue to provide free services? 

Whose world do you want to live in? 

Regardless of the laws or regulations created in one jurisdiction, a tech maverick can change the game by inventing new applications or software that upend the law.  If democratic, fair and free jurisdictions do not encourage relentless technological development, undemocratic, restraining and corrupt jurisdictions might.  In that scenario, we are subject to the more powerful technology and the race is won. 

In the past when other major societal beliefs – women’s rights, climate, human rights –  were evolving, organizations like the United Nations formed commissions that developed guidelines and blueprints for countries. 

The United Nations has commissions on and science and technology.  But there is no comprehensive global go-forward plan on the impact of technology and the opportunities and issues that are coming up for adapting societies. There is not yet a globally negotiated approach for the world on the changes facing humanity and the cross-border impact of the role of technology in our lives.  

But almost certainly entrepreneurs will help drive these changes.  Entrepreneurs who are operating in the global marketplace and can see the opportunities and constraints of technology and potential legislation will be in an excellent position to help define these processes going forward. 

To start, define for yourself the world you would like to see.  If you want to get some ideas, jump over to my writer’s site, www.claneworld.com and download the free Guide to the Future.  

As an entrepreneur, look at the issues that affect you and your business and be prepared to come up with a solution before a solution is designed for you.  

The best way to predict the future is to create it – Abraham Lincoln apparently once said.  Which means you need to understand the possible future developments and make adjustments that work to your advantage. 

Continue to ask yourself where you stand as you navigate your business.  At Ready Entrepreneur, we use technology to grow our business and reach the global marketplace.  But we cannot be indifferent to the impact technology is having nor the concerns from the consumer marketplace about privacy, surveillance and tracking. 

We have to decide the world we want to live in.  And as an entrepreneur, you demonstrate your decision by the way you run your business. 

BUSINESS, LIFESTYLE, THE FUTURE 

The world is changing and as active entrepreneurs you can see these changes daily.  Technology will be used to facilitate the growth of your business and to improve your lifestyle.  At the same time, you must stay alert to how the changes affect your customers and how you can protect data and processes from evolving negative practices. 

Technology is a powerful force, transforming our society as dramatically as the world was transformed by industry.  But this time, you are in the midst of it, and how you adapt and evolve with the changes can help build, or destroy, your business.

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