When Something Stops Being The “New Thing” It’s Time To Invest
There is a lot of fast information in the world today.
Lots of news. Lots of hot new things. All kinds of things that are fresh and new.
But think about what was in the news last year. What about last month? How about yesterday?
It’s difficult to think about the what was the how “new thing” just a little while ago.
It’s easy to get excited about new things. New technology. New discoveries. All kinds of new things.
But usually when something first breaks into our attention it’s not ready for mainstream acceptance.
The mobile phone was big news in the late ’80s. But it took another 10-15 years before many people had one in their pocket all the time. And it took another 10-15 years after that before people became one with their phone.
That’s a long time for something so groundbreaking.
But that’s how it usually goes. If you would have invested in the phone industry in the ’80s the odds were high that the company you picked would have failed. Even if you would have picked the right company you probably wouldn’t have had the patience to wait for things to pay off.
Let’s look at this in a different way. Investing in new things for your business.
About 10 years ago the big things in the business marketing world were SEO and Inbound Marketing. The industries were new and exciting. They were even pretty new for the companies in charge of things like Google.
It was easy to “game” the Google results. But over time Google has gotten really good at their rankings. That’s frustrating for a lot of folks, but really it’s great for consumers and for businesses.
It’s taken awhile to get to this point. About 10 years. Not as many people seem to be talking about SEO and Inbound Marketing as the new kids on the block. But the strategies are important. Possibly more important than ever.
The key for business owners, managers and marketers is to know when to invest in new things.
The big one right now is AI. Are there times when it could work for your business? Maybe, but it’s very tricky right now. It’s very early.
In ten years…that’s probably when it’s time to start paying attention. You can stay updated on the changes over that time so that when you want to invest you have some knowledge.
But so much will change over that time period.
So much about success is about timing. It takes time for new technologies and new industries to settle in. It takes time for bugs to get worked out. Time for people to accept the change. Sometimes the sooner you jump in the worse off you are. A lot of successful companies make it a point to not be the first adopter of new technology. I used to work for one and it worked for them for over 100 years. They still adapt, but they don’t fall into the trap of being a first mover.
You can get excited about new things. But give them time to mature. Make sure they’re still around in five to ten years. Then once it’s been proven take the time to invest in it. You won’t be late. You’ll be right on time.