Are you paying attention?
For many of us we are caught up in the routine of family and work each week. We head out every morning and return at night to family activities and household chores. We often don’t know where the time goes before the weekend arrives.
When things are this hectic we do not find time to take a look at our industry and see what is pushing the bubble. It is easy to not pay attention to industry news, events and trends as they influence those businesses and people around us.
When I lived in Japan I worked for a JV tech company owned by Nippon Mining & Metals. I was having lunch one day with my boss and he was telling me of a friend in the company that had an English Advisor. A retired professor from England whose job it was to read the world news every morning and then report back on what he had read. He would compress 4 hours of reading into a ½ hour synopsis in order to keep the executive up to date on world trends. Another friend of mine in the brokerage business would meet once a month with a group of businessmen to discuss any worthy opportunity they had hear about in the past month.
In both cases the people had taken the time to discover what was going on in there extended circles of influence. It helped them make better decisions on opportunities that always come up.
Right now I’m working with a tech sector that is plagued with regulations and outdated rules. Their solution is to comply with the rules by installing a backup system and then install state of the art technology for the operational version. They get around the rules by being innovative and are seen as leaders in their industry. The technology has outpaced the regulations and created an opportunity for the sector. The new technology has been adapted from another industry by someone who is paying attention to trends.
In our online world this is often software driven. Where a new solution leap frogs an old one to create opportunities. The important detail is to take the time to set aside a few hours and read and listen to what is going on around you. You may uncover a trend that you can convert in the future to your companies benefit.