The Business News Hour - Friday Wrap

New Horizons

I'm often struck at how fast we are moving forward. How, it seems, that each day something Speeding
new and fresh and exciting creates opportunity where not long ago there was none...or at least they were different

Step in the "Way-Back Machine" and consider what it was like ten years ago:

The sharing economy did not exist. Today we have companies like Airbnb, Lyft, Uber and others that have created a shift in how we market and sell services.

Television entertainment focused on cable, satellite or over the air transmission. Today consumers are cutting the cord at record numbers and watching on Netflix, Hulu and a host of other options.

Marijuana has emerged as not only a cash crop for Colorado but also coming is California and a host of other states and it's not only medical cannabis. This change has boosted another industry. Colorado is the number one state in the nation in promotional products. No, really.

And there is more..

Cars that navigate the roads on their own, electric vehicles that don't look like a battery (think Tesla), the rise of sustainability in products and services, podcasting where your business can create its own radio station, metrics that measure the success or failure of just about anything, relationship marketing through a host of social media tools...and that's just scratching the surface.

None of it was here just ten years ago.

So, what is next? We can speculate but the question you must ask yourself is this, "What have I done to better capture the realities of the new economy and match them with the consumer?"

What are your plans?