Preparing for new technologies

To get ahead of rapidly changing technology, create a team to help spot critical technologies and anticipate their impact on your industry, customers, and market.

- Review technical magazines, search the Internet, or interview authorities for the latest emerging trends.

- Pool information to forecast what might affect your business favorably. Be sure to include those technologies that likely will NOT affect your business. This will help keep you aware of all the possibilities.

- Define new ventures or projects that take advantage of these changes: new products or services you could offer, more productive ways of working, etc.

- Continue tracking critical technologies over time. This should be a habit, not a process.

- Test and implement your new products or ventures.

Your team can include business partners and senior managers, those versed in your industry's emerging technology, industry peers and allies, and others.