With technology changing so fast, your business must evolve.
Apple initially brought computer technology to the mass home marketplace with the Apple II in 1977. The software and capabilities rapidly developed to focus on the graphical interface and mouse to make personal computers easier to use, especially for computer-aided design and desktop publishing in the Macintosh computer in January, 1984. Faster processors, better graphics, inexpensive memory and hard disk space further improved the capabilities of Mac computers and Apple’s competitors.
During October, 1991, Apple introduced the iPod “jukebox in your hand”, with a capacity to hold 1,000 songs. (“A thousand songs in your pocket!”) This signaled Apple’s move to into consumer electronics.
On May 6, 1998, Apple again changed the personal computer field with the introduction of the iMac. The iMac had a slim, “jelly bean” design, available in various colors. It was designed for easy internet connectivity.
On January 1, 2001, Apple introduced iTunes, making legally downloading music widely available and effectively making most of the music and audio distribution using CDs obsolete.
The iPhone, introduced January, 2007, changed the world of cellular telephone communications. Since it also could store music, it made the iPod obsolete. iPhone sales have grown to 53% of Apple’s total sales. Apple is the #1 provider of smart phones, with 20.1% of total sales in the marketplace.
Recognizing it was no longer only a “computer” company, Apple dropped “Computer” from its name during 2007.
Apple further moved into the consumer electronics market with the Apple Watch during September, 2014. Now anybody can experience the wearable watch of the old Dick Tracy comic strips of the 1950s.
What would have happened if Apple insisted on sticking with the Apple II computer? It would no longer exist. Other technology companies also continue to develop new products and services that compete with Apple. Although personal computers continue to be popular, they have also largely been replaced by smart phones for many applications.
Apple would have missed 53% of its sales today from iPhones if it stuck with personal computers.
Even service-based companies continue to evolve with new technology tools, remote-communication applications and generative artificial intelligence.
Imagine a dentist trying to continue to operate with dental restoration equipment and X-ray technology from the 1950s or 1960s. That dentist would be a target for malpractice claims!
Imagine a surgeon who never learned microsurgery techniques.
Imagine an attorney who could only use physical books for research and who didn’t have online tools available for investigative work, including online DNA matching.
Imagine a tax return preparer not using computer software to prepare income tax returns and refusing to efile tax returns, resulting in delayed tax refunds. Their clients would soon change to a more modern preparer.
Whatever business you are in, plan on radical change happening soon. Your business will look much different after just a few years, possibly just a few months!
You MUST keep up and adapt to current developments or your business won’t survive.