Exactly how Technology Creates Wealth

Posted by Riddle Key on May 17th, 2021

Dynamic markets create opportunity Markets create energy because they're dynamic. They are constantly evolving in reaction to changes in the economic, political and technological environments. Understanding what can cause a market to evolve can help you predict where opportunities will emerge; how fast they'll develop, and when and whether mass adoption will occur. When you can capture this energy, you can utilize it to operate a vehicle the sales process. Dynamic systems create energy. If left unchecked, any systemic change will grow. A snowball rolling downhill gets bigger. Growth creates momentum. Because the snowball grows bigger, it goes faster. Momentum creates energy. The faster the snowball rolls; the larger it gets; the harder it hits the tree. Energy drives change. (Source The Fifth Discipline) You can use the power sources developed by an evolving market to motivate prospects to purchase your solution. Persuading people to try out a new technology can be an uphill battle. You should invest many your precious energy - sales resources, capital, technical expertise, etc. - into convincing prospects they are able to benefit from making use of your technology to support their business. However, in the event that you know very well what is driving market change- an extremely mobile workforce, higher need for personal security, faster access to global markets - you then use the energy created by the marketplace to motivate prospects to get. Thus, you must invest less of your resources and you may sell more productively and efficiently. Technology markets create abundance. You can find two laws that explain why technology-enabled markets generate extraordinary levels of energy. 1. Moore's Law predicts that technology is going to improve later on and cost less. 2 Metcalf's Law states that technologies become more useful as more people utilize them. The combination of these two laws creates an economy of abundance that's unique to technology markets. As Moore's Law predicts an endless supply of ever-increasing resources and Metcalf's Law promises that innovations will undoubtedly be quickly adopted, the type of the economy changes. Gordon Moore, the founder of Intel, said, "Every 1 . 5 years processing power doubles as the cost holds constant." The implications of Moore's Law are that every 18 months technology will cost half as much and be twice as powerful. Moore's Law has held true for over 30 years. Previous economies were based on the laws of scarcity, where you've got a limited quantity of resources and value is based on how scarce they are - gold, oil, land, etc. Supply Chain utilize up the resources the less energy you have.

Like it? Share it!


Riddle Key

About the Author

Riddle Key
Joined: May 17th, 2021
Articles Posted: 1