4 Reasons Why It Pays to Keep An Eye on New and Developing Technologies


The rate of technological development these days is astronomical – with new innovations coming out just about every year if not sooner, and with existing technologies, systems, and ways of doing things, frequently undergoing changes and adaptations of various sorts.


There are many different forms that these new and developing technologies can and do take. For one thing, parcel lockers are now increasingly in use to cater for the e-commerce industry in general, and to help individuals receive their orders quickly, conveniently, and privately, almost irrespective of their locations. There are even no-touch lockers which can serve as a perfect distancing and hygiene mechanism during the COVID-19 pandemic.


Other developing technologies include things like particular apps and web-based services which allow for greater personal financial management, better timekeeping, and any number of other things. Then, there are devices specifically designed to get around some of the issues inherent in other popular tools and technologies currently on the market.


In any case, it pays to keep an eye on these new and developing technologies, especially if you are an entrepreneur.


Here are a few reasons why.



  • Because early adopters of revolutionary new technologies may benefit from a great head start


At various points throughout the history of different industries, there have been paradigm shifts spearheaded by the widespread adoption of particular technologies, which have then revolutionised the way in which things were done.


It’s not always easy to predict exactly how these paradigm shifts will manifest themselves, or where they will appear, but it is nonetheless the case that early adopters of revolutionary new technologies will likely be well positioned to benefit from a great head start.


In fact, under the right circumstances, being one of the first to get on board with a new technological innovation that later comes to define the industry, might secure you such a dominant starting advantage that it could propel the future success of your company.


Of course, you have to be a bit circumspect, as not every new technology will be a game changer.


Still, it’s certainly a good idea to pay attention to the way things are trending.



  • Because with the right tools, you can streamline your operations and remove a lot of waste and stress


One of the key struggles of any business will inevitably be the need to streamline operations, increase efficiency, and remove waste and excess stress-producing “clutter,” to the greatest degree possible.


Warren Buffett has famously opined that “the difference between really successful people and everyone else is that really successful people say no to almost everything.”


A big factor in your ability to “say no” to many of the time, attention, and resource-sinks that will arise in your everyday professional life, will be the sophistication and elegance of the tools you have at your disposal.


Something as straightforward as a good financial management tool for easy consolidation of expenses can save a lot of hours, and can help to avoid a situation where an inordinate amount of your time is spent doing “busy work..”



  • Because maintaining an awareness of ongoing developments helps to make you more aware of, and responsive to, upcoming industry changes and customer demands


Ongoing technological developments can serve as a useful barometer for the way things are moving in society, broadly, and in your particular industry, more specifically.


Maintaining an active awareness of which technologies are ascendant can also help you to better predict and understand the direction in which customer demand is shifting, so that you can be better positioned to take pre-emptive action and to plan for those circumstances as they develop.


If it seems, for example, that social media platforms which incorporate more video messaging elements are set to become increasingly dominant, that might give you a hint of how to adjust your upcoming marketing campaign, and the structure of your website.



  • Because the right technologies might help you to explore avenues that had previously seemed off-limits


For any entrepreneur, it’s going to be necessary to maintain a pretty specific focus on a number of core competencies, both for the sake of ensuring optimal quality in general, and also in order to maximise resources.


With the right new technologies, though, it might become feasible to explore new avenues that had previously seemed off limits, but which can now be tapped into with a greater degree of ease and reliability.


You may, therefore, be able to stretch resources further and branch out more, without overreaching.