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I love companies with slow computers

How much money do you waste by making your staff wait for computers?

For slow networks?

For slow internet?

For slow computers?

How hard do you make it for them to get their work done?

How many times has a hotel desk clerk apologized to you at check in time because their computer was not behaving, was slow, or was down? I don’t travel all that much, but I hear this fairly often.

How many times do you get similar messages from retail employees, or from customer service reps that you’re on the phone with?

Regularly, for me.

Is your staff’s productivity hamstrung like this? What impression does a recurring “I’m sorry, my computer is slow, thanks for your patience” message leave with your clients?

I love companies like this – when they’re competition for my clients. Don’t be one of them.

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Automation Business model Business Resources E-myth Management Marketing Small Business systems

Big Data, Small Business

Last week, we talked about questions.

Questions tend to produce answers and more questions, which can result in a pile of stuff that overwhelms a small business.

As a business and client base scales, these questions produce data that you can use for guidance, decision making and to ask even better questions. Again, this can result in a pile of stuff (data, in this case) that overwhelms a small business.

A common reaction to this phenomena is to ignore the data, or to be so overwhelmed by its volume that you can’t discern anything from it. Entrepreneurs tend to want to do it all and if they can’t do that, doing part of it seems like a failure. It isn’t.

Identifying your big data

Let’s look at one of the questions from last week’s post and see which ones are likely to produce decision-making data.

How does this impact our key performance indicators? Examples: cost per lead / new client / sale / deployment, support load, lead time, etc.

This implies that you already know your cost per lead, cost to acquire a new client, cost per order/sale, cost per deployment, average lead time per product/service and the support/customer service load your products and services require. Not gut feel, but actual numbers.

Actual numbers are important because our gut is often right when it comes to strategic decisions and the like, but it seldom has a clue when it come to numbers like cost per lead – particularly if you’ve never watched it.

Lead cost, sources, media and campaigns

For example, what impacts cost of a lead at your business?

Lead source is a good place to look.

You might get leads from referrals (cheap and strong, warm leads), from local TV ads, from local newspaper ads, from different media in your education-based marketing, from the phone book (yes, some businesses still depend on those leads), from direct mail (likewise, still quite productive if used properly), from your website, mobile app, and so on.

Each of these have different creation and distribution costs. Each will produce a different lead flow, much less volume and types of client. While in the beginning, you’re likely to lump all of this data together, at some point you need to break them out by media and eventually, by campaign.

You’ll want to do that so that you can answer questions like this:

  • How do you know which media produces the most profitable clients?
  • How do you know which campaign (and on which media) produces what number and type/quality of client?
  • How do you know if a particular campaign works well on one media, but terribly on another?
  • How do you know which media (or campaign) tends to produce clients that are high maintenance to the point that you tend to fire them or not accept them in the first place?
  • How do you know which media produces the best (however you define that) clients you have? Is there a specific type of campaign that does this?

From time to time, an owner will tell me that their businesses doesn’t do any marketing so this kind of thing doesn’t help their business. If that’s really true, you’ll usually have referral sources that produce more and better leads than referrers do.

Would it be helpful to know who is sending you the best referrals?You probably have a gut feel on this, but are you sure that it’s accurate?

Thinking back on those questions

Given the detail on the one question of cost per lead, you can see how this can become overwhelming in a hurry. Don’t fall victim to that. Take it a step at a time.

You may start with another metric. Cost per lead is important for almost everyone, but it isn’t always the best place to start.

When you ask questions like “How did the pilot program go?” – it might provoke follow up questions about the data collected during that pilot which would support the “How did it go?” question.

If those answers aren’t backed with data, then that might provoke you to add data collection to your pilot projects in the future. This will take more time but it will produce better answers that don’t depend on gut feel or a need to be right.

Better answers are what we’re looking for.

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Amazon Automation Business model Competition Improvement Leadership Small Business strategic planning Technology

Accelerated change redefines your market

Last month, Harvard Business Review’s Brad Power wrote a short piece about something software people have known for years, even if they ignore it: The rate of change is accelerating.

http://blogs.hbr.org/2014/06/how-the-software-industry-redefines-product-management/

An excerpt from Power’s piece:

I spoke with Andy Singleton, CEO of Assembla, a firm that helps software development teams build software faster. He told me the story of Staples vs. Amazon. As you might expect, Staples has a big web application for online ordering. Multi-function teams build software enhancements that are rolled up into “releases” which are deployed every six weeks. The developers then pass the releases to the operations group, where the software is tested for three weeks to make sure the complete system is stable, for a total cycle of nine weeks. This approach would be considered by most IT experts as “best practice.”

“Best practice”? Not really, but let’s continue:

But Amazon has a completely different architecture and management process, which Singleton calls a “matrix of services.” Amazon has divided their big online ordering application into thousands of smaller “services.” For example, one service might display a web page, or get information about a product. A service development team maintains a small number of services, and releases changes as they become ready. Amazon will release a change about once every 11 seconds, adding up to about 8,000 changes per day. In the time it takes Staples to make one new release, Amazon has made 300,000 changes.

While this situation is old news to software businesses and even to some non-software businesses that develop their own software, the thing you need to be aware of is that this accelerated rate of change and implementation stretches far beyond software.

You may have heard the phrase “software is eating the world“. In many cases, that’s about software disrupting and improving businesses and sometimes eliminating jobs. It’s also about technology and accelerated change in businesses that haven’t traditionally depended on technology.

This rate of change is reaching into many other niches – some faster than others. The question isn’t “Will it touch yours?”, instead the question is “When?”

Consider Amazon

You might be thinking that Amazon is a relatively new company so it was easy for them to start off producing systems as Power’s piece described. Trouble is, that isn’t the case at all.

While Amazon Web Services (aka AWS – the cloud services side of Amazon) has been around since 2006, Amazon has been around since the mid ’90s. They had to remake themselves to pull this off – but they chose to do so before someone else forced it on them.

Three dimensions

A few years ago, if you were in the engineering prototyping business, you might have a turnaround of a few weeks to a month, depending on the type of pieces you prototype.

Then one day, a 3D printer showed up on a local doorstep. Without a massive capital expense, delay and shop build out, a local engineer could now start turning out prototypes your clients could touch and feel in hours or for larger items, a day or two.

Perhaps you can work with that person to partner on projects and you both win. If you don’t, who will?

You can have a 3D printer on your doorstep tomorrow. What makes you different from the lady down the street who owns one?

The choice

Today, you probably have a choice in the matter.

You can either determine what needs a remake or restructure and make those changes (and experiments) on your terms, or you can wait and let someone else determine the time frame and terms for you. Most of us would prefer not to have someone else calling the shots.

I know, you’re busy. You’ve got this fire and that fire to put out. You’ve got soccer games to get to. I get it. I have those too and so do many other business owners.

It might be hard to justify any sort of disruption, even in thought, if your business is humming along on all cylinders right now.  That’s exactly what the disruptive businesses want. Keep doing what you’ve always done, because it’s still working.

Meanwhile, someone out there is fighting the same fires, perhaps as their business hums along, and all the while, they’re restructuring their business for this new reality.

What if they’re in your market? What if you did it first?

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Automation Competition Economic Development Entrepreneurs Small Business startups strategic planning

Why small business should care about Meeker’s slides

Mary Meeker’s annual Internet Trends report came out today, so I thought I’d offer a few comments about it and how its findings are likely to (continue to) affect small businesses, including small software companies.

The Slideshare version is rather slow right now,  so I suggest you check out the PDF version of the Meeker report.

Psst, thank you Mary.

Tablet sales

52% annual year over year growth. For software companies, this matters just a bit. Web apps that work great on phones don’t always translate to the tablet form factor. Do the work to make your UX good on both.

Context: There are 789MM laptop users globally and 743MM desktop users globally – this is after decades of computer sales. Tablets – despite the modern tablet only having been around for a few years, there are already 439MM globally. Ignore them at your own risk.

KPCBMeeker2014Tabletuse

 

Advertising media

Meeker2014AdSpend

When reading the “Print is over-indexed” comment, keep in mind that most businesses who use print do so very poorly. They carpet bomb rather than snipe and they don’t track lead numbers or ad/media performance. I suspect they will do the same when advertising on mobile ad platforms and will complain that, just like print, advertising doesn’t work.

Don’t be that business.

Hey, nice network!

95%+ of networks are compromised in some way, and small business networks are likely worse than most of the ones Meeker is referring to.

Yes, yours is probably one of them *or could be*. It happened to Target (et al), it can definitely happen to you.

A quote from the slideshow: “Vulnerable systems placed on the internet (are) compromised in less than 15 minutes“. This doesn’t mean the internet is the big bad wolf, unless you have a pile of XP machines that aren’t properly taken care of and operated by staff (and management) who will click on any-old-thing.

Free shipping

47+% of orders include free shipping, vs. 35% five years ago.

Say this 3 times: “Lifetime customer value”. If this hasn’t reached your area – and in many cases, it may be a long time coming, consider beating the world to the punch. Leaders lead.

Cloud computing costs still dropping

A bit of Doctor Obvious, but the numbers are huge.

  • Compute (ie: CPU costs) – down 33% per year from 1990 to 2013.
  • Disk storage costs – down 38% per year from 1992 to 2013.
  • Bandwidth costs – down 27% per year from 1999 to 2013.

Where’s your competition?

Anywhere and everywhere, perhaps.

Meeker2014Competition

Vicarious video living

The highest volume video streaming site is Twitch – a site where people watch other people play video games. Presumably they do this to learn how to play better, I really don’t know why else you would do this. While this is of little specific relevance to me, Twitch’s numbers are certainly relevant.

Twitch has more user viewing minutes than WWE, Ustream, MLB.com and ESPN combined. Yes, COMBINED. 12 billion minutes per month.

How does video fit into your strategic plans?

As of January 2014, 43% of TV content viewing minutes were on non-live-TV. IE: DVR, DVD, streaming, mobile streaming, etc. They want it when they want it, not when someone says they must consume it.

How does *on-demand* video fit into your strategic plans?

The world is flat

As of January 2013: 9 of the top 10 producers of internet content are in the US, yet 79% of their monthly visitors are outside the U.S.

As of March 2014: 6 of the top 10 producers of internet content are in the US, and 86% of their monthly visitors are outside the U.S. 4 of that 10 have effectively zero US-based visitors. Yes, China.

Alipay’s “Yu’E Bao” asset management startup went from $0 to $89B in managed assets in 10 months. It is now one of the top 3 global money market funds based on assets under management. TEN MONTHS.

60% of the top 25 tech companies in the US were started by 1st or 2nd generation Americans. 1.2MM employees as of 2013.

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Automation Business model Customer relationships Direct Marketing Getting new customers Lead generation Management Productivity Sales Small Business tracking

Where does new business hide?

In every town, there’s a place where new business hides.

If you can’t find its hiding place, your business is likely to struggle.

Most of the time, that struggle is rooted in the inability to dependably produce predictable, month to month revenue.

Without predictable month to month revenue, businesses close, scale down or at the least, fail to reach their potential to support their owner, their family, their employees’ families and their community.

Revenue consistency problems influence a business owner’s decision making because their decisions end up being driven by cash flow. Decisions based on sales you made last week (much less yesterday) rarely fit into a long-term strategic plan.

Predicting revenue isn’t all that difficult. You simply have to check the Sales Thermometer.

What’s a Sales Thermometer?

Imagine that there’s a thermometer on the front door of businesses and homes that told you to pull in and sell something to someone because they had developed a need or a want that *had* to be fulfilled.

Armed with a town full of sales thermometers, you’d have all the new business you’ve ever wanted and wouldn’t waste a bit of time chasing around town after people who didn’t want or need what you sell.

Instead, you’d simply drive through town, check the thermometer and stop at the places where the temperature was the highest.

On days when you need a little extra revenue, you might get up a little earlier and drive around a little later so you could check more thermometers. 

Once you took care of the places with the hottest temperatures, you could retrace your steps, scan for the next highest set of temperatures and take care of those sales.

As the sales thermometer readings change on other homes and businesses, you’d see them during your travels so you could pick up on the newest opportunities for new business – simply by being observant.

Scaling

There is a downside to this sales thermometer thing. It has some scalability issues.

For example, you can only drive so far in a day and every customer who takes an hour of your time consumes an hour that you can’t use to check other thermometers. That will eventually force you (subconsciously at least) to stop and work with only the hottest thermometers.

If only there was a way to automatically check the hottest thermometers without spending all that time driving around.

Fortunately, there is.

Getting new business isn’t a joke

While talk of a sales thermometer seems like a bit of a fantasy or even a joke, your business’ inability to consistently produce new business from existing and new clients is no joke at all.

If your business struggles with that, the problem isn’t the lack of a thermometer. The problem is that you aren’t reading it. 

The sales thermometer in the information you should already have about your clients and prospects.  The thermometer’s temperature is driven by behavior and interaction, both yours and that of your prospects and clients.

Those behaviors are like a patient’s symptoms. Monitoring  and acting on them in a predictable, repeatable, systematic way is what gets your business to the point where you *can* produce consistent, predictable month to month revenue.

Random revenue from new business is an indication that you’re not watching and acting on these symptoms on a consistent basis. We all know we need to do these things, but sometimes we get sidetracked by the crisis-of-the-day.

While they should be acted on individually for each prospect or client, these symptoms should also be grouped together (aggregated) to help you monitor the health of your business and your market.

Things that drive up temperatures

What causes rising temperatures?

  • Interaction behavior changes.  You should know when someone is paying more attention than a typical prospect. Do you have a way to detect this?
  • Sales cycle behavior changes. You know how long it takes to close a sale. Is that timeline changing? Are certain prospects skipping steps in the process? Is their path-to-purchase pace is faster than normal? If so, does your internal behavior toward those prospects change to suit their timeline?
  • Purchasing behavior changes. For example, customers who are buying more (or less) often than they normally do. Even if you’re tracking sales on paper, you can monitor this .

Are you monitoring the sales thermometer?

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Automation Business culture Business model Competition Customer relationships Customer service Getting new customers Recurring Revenue Small Business strategic planning systems Technology

What if you actually followed up?

Ducks In A Row

Does your business follow up with your clients and prospects like you should?

You should probably consider what “like you should” means, before deciding whether you follow up properly or not.

Having done that, let’s define “follow up” as continuing the conversation with that particular prospect or client, in exactly the context they are in with your business, in a timeframe that makes sense to the client.

This isn’t about you. It’s about them, where their interests lie, what needs they have right now where they are in the flow of things in their life and/or business. Not where you are.

Let that sink in – this is not about you, what your sales staff has on their mind today, where you are with the month’s cash flow, whether or not you’ve made your weekly nut, etc. Thing is, if you do this right, it’ll help you worry a whole lot less about that last one.

Figure out the right whens

If you’re trying to start doing this right, it would help to start with the basics – identifying when to follow up with your clients and prospects. I call these “touch points” (meaning when to reach out and get/keep in touch), but it might make it easier to think about if you view them as events in the timeline your clients and prospects follow as they meet you, become your client and continue down that path until they are no longer your client.

One more reminder, this is about the right time for them, not you.

Here are a few ideas for touch points:

  • Someone becomes a new lead by calling, emailing, filling out a web form, etc.
  • Someone clicks on a link in an email.
  • An existing lead contacted you for info.
  • A lead bought a new product or service.
  • A client bought a product or service for a second-nth time.
  • A client had an interaction with your service department.
  • A client paid a bill on time.
  • A client paid a bill late.
  • A client paid a bill late for the second/nth time.
  • A client fails to buy something on their normal purchase schedule that they used to buy from you on a regular basis.

Take a few minutes to consider what your touch points / events are. You may have a lot more than that, but I would be surprised to find that you had fewer.

Now what?

Let’s analyze the why behind a couple of these so that my comment “Thing is, if you do this right, it’ll help you worry a whole lot less about that last one” makes more sense.

Think about how things work in your business today.

If a client who usually buys something once a month doesn’t buy this month, are you aware of it?

If you aren’t, it’s possible for them to disappear and stop being a client without your knowledge. How many clients do you have that buy something every month? How many of them disappear each month? Do the math and figure out what that could be costing you.

That’s the possible return on investment of being able to follow up when this event happens.

If this purchase doesn’t happen and you know about it, then you can turn your service or sales team loose to make sure nothing is wrong or that conditions have changed for your client. Maybe they don’t need to continue buying that product or service anymore. So be it, but they may need something else. Or you may have had an unfortunate interaction with them.

Whatever the reason, knowing is a ton better than not knowing. You might find out that you will lose them and can’t do anything about it (changes in their needs, etc), but at least you’ll know.

One more example

If a client pays a bill late, do you grumble and add a service charge to their next bill without any conversation? Does the service charge get added automatically?

There are plenty of ways to talk to a client about a late payment without coming off like a jerk. Maybe they need different payment dates, a different payment method or they just missed the invoice somehow because someone was out sick.

Personal follow ups like these can keep a relationship going for years, rather than letting them sour because of a misunderstanding or lack of knowledge.

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attitude Automation Business culture Customer relationships Positioning service Setting Expectations Small Business

You will not receive a reply.

JConnectFeedback

What message do you send to customers when you tell them up front that their feedback will not get a response?

How many businesses have you stopped communicating with because they don’t listen and reply? Does anyone feel that way about your business? About you?

If you have to do less communicating in order to do so in a way that creates better client relationships, give it a try.

As for the graphic – If you don’t have time to reply, do you have time to read their feedback? Maybe, but that’s not the worst of it. If you aren’t listening and people know it, they won’t share anything with you.

It isn’t the customer who won’t receive a reply… It’s you.

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Automation Business Resources Entrepreneurs Habits Management Resources Small Business strategic planning Technology

What happens if I refuse?

Minnesota Guard removes floodwall, opening Minot bridge

Yesterday, we talked about backups.

Did you do anything about it?

If you didn’t, think about this: What would happen to your business if the hard drive containing your customer list, orders, accounting and communications with customers and vendors failed? What would it cost if you lost that data?

I asked startup CEO Doug Odegaard from Missoula for a quick angle on the cost of not keeping good backups. He said “Add up how much people owe you and how much it cost to build your business and that is how much it is worth.

Pratik, a tech business owner from New Jersey who also owns a restaurant, added this: “and don’t forget the good will and revenue loss until operations can resume again“, then reminded me of his experience with a fire:

Mark, if you recall when we had the fire caused by lightning at the pizzeria, I had the entire customer base with purchasing and sales history synced to my home. Insurance company had the first check cut in 10 days of the claim. This practice is so important. We had our standing corporate catering resume in one week from an alternate commercial kitchen which kept revenue coming in as well as routed our VOIP phone service to my mobile for those customers that tried calling. Made recovery a bit easier.

What’s it worth?

That metric Doug offered merits consideration. If you can’t wrap your head around the cost of starting over, doing inventory from scratch, calling all of your customers (assuming you have their contact information somewhere) and asking them to tell you what they orders, how much people owe you and so on, then ask yourself this:

How would you like to go back to the day you started your business and start over?

Ask your insurance agent how many businesses survive a fire or flood if they don’t have these things taken care of.

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Automation Business Resources Entrepreneurs Habits Management Small Business strategic planning Technology The Best Code Wins

Put your mask on first

Fire Smoke IndyW 1428

Professional development mentors remind us that we must take care of ourselves first.

They advise that we improve ourselves mentally, physically and emotionally – in other words, attend first to our overall health – so that we’re better prepared to perform well in our roles at work, at home and in our community.

Personal finance mentors do the same when they remind us to pay ourselves first. If we don’t, something will always come up that consumes those funds, leaving us ill-prepared for our future.

Airline flight attendants ask us to put on our oxygen mask first, then help others sitting near us, because we can’t help our kids or significant others if we’re unable to breathe.

Here’s the technology version of putting your mask on first:

  • Backup your business data.
  • Test your backups regularly to be sure you can restore them.
  • Rotate your backup media off-site so that a theft or on-site fire or water damage don’t render your backups useless at the time you’ll need them most.
  • Document your backup and restore process so that you can restore and get systems running again even though your technology wizard is on a 16 hour flight to Australia.
  • Investigate, plan and implement real-time disaster recovery for your business data, particularly if your business model has little downtime tolerance.

This may seem like a hassle. It may seem like unnecessary overhead. Don’t be tempted by those thoughts.

Fact is, if you put your mask on first, you’ll be in a better position to help your customers solve their problems, grow their business and keep paying you. Why? Because your business will be more resilient.

Look back at the business impacts from an event like Hurricanes Sandy or Katrina. If you were impacted by those storms, how would you service customers who weren’t in the storm track? If you can’t, you know they’re likely to find someone else who can.

Your “Someday” is coming

These kinds of things that happen when your business can’t take a power outage, a hard drive crash or similar disruptions. The question is… when?

No one can point to a date and declare (in their Darth Vader voice) that “Your systems are going to fail on this day.”

What I can guarantee, even without considering Katrina, Sandy, Boardwalk fires, blizzards and ice storms, is that it’ll happen…Someday. These things happen to electronic, mechanical devices. You can either be prepared for them or not.

At least once a week, I hear from someone whose “Someday” has arrived. Three times last month I saw it happen to businesses who didn’t have backups. Like a TV show involving the Kardashians, it’s drama you don’t need.

You might think that hardware failures happen more often to businesses that don’t have backups. The reality is that businesses with good backups simply restore them and keep working, so we don’t hear much about their hardware problems. One result of this is that making backups is ignored until it’s too late.

This puts the security of your clients, your employees, your clients’ employees and the families of all these people at risk.

If your most important database disappeared right now, how would that impact your business? How would you recover? How long would it take to get back to where you are right now, productivity-wise? When did you last test your ability to restore your data from a backup?

If you don’t know the answers, ask your technology people. Don’t do it in an accusing fashion, just explain that you’re concerned about the possibility of hardware failure and natural disasters, so you’d like to know what the backup and recovery plan is and how long the recovery period will take for your business. These are things management should know.

Remember, it’s an asset

While there is no good time for this to happen, history suggests that failures are likely during your busy season, or during financial month / quarter / year end.

The good news is that if you have your backup and restore act together, you might lose some time and productivity when your Someday comes, but you’re far less likely to lose your job or your business.

Backup your data. Test your backups to make sure the restores will work. Schedule these tasks.

Care for your data like an irreplaceable asset.

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Amazon Automation Box stores Business culture Business model Competition Direct Marketing E-myth ECommerce Leadership Retail Small Business strategic planning Technology Wal-Mart

Doing ahead, not just thinking ahead

Quite often, I talk with business owners about thinking ahead.

Something that happened yesterday tells me that I need to change my terminology to “Doing ahead.”

Why the change?

Primarily, I’m concerned that small businesses are thinking ahead, but stopping there.

Thinking ahead discussions often include strategic thoughts of putting yourself out of business by inventing new products and services for your customers that replace your current top seller.

So let’s talk retail for a moment, since they’re an easy example.

Every time you enter a WalMart store (something I try to avoid – I’m just not into the crowds), you’re likely to see something different. Just a little thing here or there that’s different. Sometimes it’s a test to see how something works, other times it’s the result of such tests.

What you never see is exactly the same store, time after time, town after town. Sure, the overall store is quite similar overall but there’s almost always something different. Something being tested. Something being implemented.

This effort isn’t limited to their brick and mortar stores. WalMart and the rest of big retail spend a lot of time looking at how they can improve the performance of their online retail properties. They have lots on their todo list simply by comparing themselves to Amazon.com – which blows away most (if not all) online retailers in end to end performance and customer engagement.

This is the price they pay for ignoring Amazon during their climb to cruising altitude.

What we don’t see is massive shifts designed to make the store or parts of the store irrelevant. It doesn’t mean they aren’t there, but they’re much harder to see in a brick and mortar store. Honestly, I can’t think of the last time I saw a brick and mortar store do something like this but I suspect I just don’t recall it.

Amazon tweaks too

Naturally, Amazon.com is working hard to improve what they already do – testing and tweaking their retail site and their back end (such as the systems that email you about things you might be interested in). You can see evidence of this on a regular basis.

Meanwhile – they’re doing things like what you see in the video above (More video here from 60 Minutes).

This isn’t just about speed, though that is certainly part of it. Keep in mind that this also means that Amazon can deliver without using any of the established shipping systems – all of which have legislative limitations as complex as those currently preventing the use of shipping drones. The only difference is that no one wrote a pile of legislation in the 1920’s to protect the USPS, Fedex or UPS – all of whom are just as likely to have drones in their future.

Parts of this are not just changing the rules but eliminating them wholesale. I would expect this to be implemented in other countries long before it happens in the U.S., due to the legislative challenges here. We’re already well on the way to delivering relief supplies via drone. Why not retail?

Learning while looking ahead

Learn from seeing Amazon look years ahead without a guaranteed payoff, hitting on pain points, looking to shorten the sales cycle (money loves speed), looking to eliminate competitive disadvantages with WMT, looking to improve/control shipping, etc – while ignoring the fact that they can’t put the drones into service and prepare for the day when they can.

They’ll be learning new things about their business and their customers as well.

The challenge for you and for businesses all over the world is not to see another way that Amazon will eat your lunch, or to think you’re safe because you aren’t in retail, aren’t near an Amazon fulfillment center or are in a rural location unlikely to be served by drones.

Your challenge is to think beyond the advances you’ve been working on or considering. Those advances are important, but you also need to be figuring out things that are years off, all while considering what will replace them.

The dangerous thought is to ignore these things because they don’t threaten you now and wont for years.

Why is that so dangerous? Because that’s exactly what many in Amazon’s market did a decade or so ago – and they still haven’t caught up from making that mistake.