Innovate, Imitate or be Irrelavent.

Now that I have your attention!

I was talking to a young entrepreneur today. We were discussing her business model and what she is hoping to do with it. I was explaining to her the upcoming changes in industries in the USA.

In accordance to studies done by the World Economic Forum. Approximately 350 industries will be affected by automation. These industries will most likely be eliminated.

The impact from the coming disruption is going to take place as soon as 2020…

For the record that is 3 years from now. Not decades. And depending on your industry this could be your immediate problem. So if that is the case then what are you going to do.

Well for example in my industry over the last 20 years I have seen tremendous change.

When I started I was a stockbroker. Yeah sounds funny today right. Well I am going to tell you that financial adviser or financial planner will have the same sound to it. I think in about 5 to 7 more years.

Which leads me back to my MANTRA that EVERY single Entrepreneur needs to repeat.

INNOVATE: Be the agent of change for your industry. Expand how you think. Stretch your thought process. Learn to see outside the borders of what you know.

IMITATE: Be the whiz at improving and making things more efficient. Streamline and making ‘tweaks’ to those who innovate.

IRRELAVENT: If you don’t apply one of the above as your thought process. Then plan to be party to either of those for your industry. Or even more important you will be the dust on the floors of the innovation shop.

Now you know this. What are you going to do about it? Stick your head in the sand. Blindly wait for someone to rescue you.

OF COURSE NOT! You are an entrepreneur.

I will close with a quote from character played by Danny DeVito.

“.. It’s doesn’t matter how they change the rules. .. it only changes how we play the game…”