“Never before in history has innovation offered promise of so much to so many in so short a time.” Bill Gates
Today after being on a conference call between three different time zones, I stopped to marvel at the amazing transformation the internet and telecommunication tools have had on business. My father reminds me of the days he was in Saudi Arabia in the early 80’s, when using the telephone was a luxury and all business transactions were either done in person or through telegrams. I cannot even begin to fathom doing that today. With the explosive growth of computers and the internet, the world has suddenly and truly become a small world. No one is really inaccessible and everyone is linked to each other through various social networks. At times however it can be quite overwhelming knowing that one is constantly plugged into this network be it through a computer, laptop or mobile phones.
The world having become increasingly more connected has brought about many new opportunities for entrepreneurs in it’s wake. Today you can be sitting in Singapore talking to your supplier in Guangzhou, China and selling your product to someone in Brazil. All this with the help of Skype, E-Banking and some collaboration software. However, not enough entrepreneurs are being able to see the multiple opportunities that exist now that we are able to bridge these massive divides. My father and many of his friends are in the import/export business. They can literally conduct business anywhere in the world just by using a phone. Other opportunities such as outsourcing are also becoming increasingly popular and Timothy Ferris has dedicated an entire chapter in his book “4 Hour Work Week” to it.
I have quite a few friends who use e-bay and other such websites to make a decent part time income to supplement their primary income streams. Some of them are the first ones to get the latest mobile phones from Asia and sell them to buyers in the West; others buy handicrafts from China and supply major retail stores. This definitely requires doing your homework, finding a niche and seeing whether you can locate a gap to fill. By leveraging on technologies which are readily available today this has become increasingly simpler from days of yore when you needed to go to the post office to send out a telegram. This is only one of the ways we can leverage on available technologies. I will discuss the impact of these technologies on various aspects of business processes in the near future.