We are living in a time of unprecedented change. And this means that each of us is also faced with unprecedented opportunity.
The dictionary defines unprecedented as “without previous instance; never before known or experienced; unparalleled.” Our current experience – a collective swimming in unchartered waters – was brought about as technological advancements, which continue to occur at lightning speed, met and coupled with the new economy. Additionally, for many entrepreneurs, industry specific factors may also be at play.
I have been talking to business owners about these unprecedented times and I am finding that smart entrepreneurs know that keeping their eyes open to the emerging trends in our culture, our communities, and our industries is critical. In fact, this is the perfect time to ask ourselves what unprecedented changes and opportunities are facing me and my business. Here is how some smart and savvy professionals answered this question. As someone fascinated with the concept of emerging trends, I would love to hear your answer.
Dr. Ralph Bourjolly is a local Optometric Physician. Dr. Ralph saw an unprecedented opportunity when a technological advancement allowed him to incorporate a digital camera that takes pictures of a patient’s retina, into his practice. He is now able to take clear pictures of a retina without dilating the patient’s eyes and email the photographs to a retina specialist, saving time and raising the standard of care.
Jay Ghanem, of Auto Tech and Body in Pompano Beach, Florida is an entrepreneur with a unique ability to sense industry changes and opportunities. Jay is currently working on ways to power cars with waste cooking oil. And, he recently became a distributor of Xenon headlights. These lights can be installed in any car, reducing energy consumption while significantly improving visibility.
Massage therapist Marie-Josee Berard of the Infant Massage Institute says that an emerging trend in her industry is using massage during pregnancy to avoid colic and other common problems. Amazingly, Marie-Josee is able to use massage to help mothers take care of their babies while the babies are still in the womb.
Michael J. Maynes is a Financial Advisor and Certified Financial Planner with Ameriprise Financial. According to Mike, “the financial services industry is going through a pruning process and this trend will probably continue so that broker dealers with poor balance sheets and high risk portfolios will be acquired and stronger firms with less debt and lower portfolio risk will gain market share.” Mike has found that the current economic mess has caused his role to evolve so that he has become more of a helper, assisting people in developing or revising their budgets and managing their finances after a layoff.
The bottom line is this. If you are a dentist, you need to be taking digital x-rays. If you are a psychotherapist, you need to expand your tool box beyond Woody Allen style long-term therapy. It’s that simple. Those who are able to turn their challenges into opportunities will weather the economic storm.