We are constantly bombarded with news and information about 5G. How fast it is, what it can allow us to do, how it may interfere with air traffic control, etc.
We don’t hear too much about 3G (old news) unless you’re in the security and alarm business. Because sometime soon all alarm systems that use 3G will be obsolete. Alarm companies must replace the wireless cards in their systems with updated cards that are more advanced than 3G and this must be done in-person (and it’s a cost that can’t be fully passed on to the customer).
The industry also has an issue when the alarm system is connected to a landline. Why? Because almost everybody is switching to a VOIP system and these systems don’t work with alarm monitoring. So, guess what? Another switch is needed with new equipment.
So why talk about all this that’s specific to one industry? Because it points out how all of us need to stay up-to-speed on changes and anticipated changes. If we don’t, we’ll be like the alarm companies that ignored the 3G phase out and have been calling other firms asking if they’ll acquire them (and pay for the upgrades).
Think about what it could be in your industry. Is it cybersecurity, new regulations, new technology now available, alternate suppliers, or something else? Doing it the same old way because that’s how it’s always been done may lead to catastrophe, especially if a competitor moves faster and disrupts your market.
“There is nothing to be learned from the second kick of a mule.” Mark Twain
“You have to grow up, start paying the rent, and have your heart broken before you can understand country music.” Emmy Lou Harris