Emerging Technologies and Their Impact on Society
Hamid Hameed asked:
In low tech local environment where an overwhelming majority is still struggling to access and find required information, there are some high end-users who are already complaining of information overload.
Busy executives, decision makers and other people taking advantage of computing in work and meaningful pursuits need all the quality information they can get. They turn to the web because it has amassed huge amounts of information in almost all areas of human activities. But what is information in the first place? Technically speaking, “information is stimuli that have meaning in some context for its receiver. When information is entered into and stored in a computer, it is generally referred to as data – information translated into a form that is more convenient to move or process. When information is packaged or used for understanding or doing something, it is known as knowledge – to an enterprise or an individual, the possession of information or the ability to quickly locate it.” For the purpose here, I think the term ‘information’ is the correct description of some of what is available on the web, rather than knowledge or wisdom.
Advances in web technologies and their growing usage have made the production, distribution, and sharing of information so much easier than what it was only a decade ago. It has reduced the time span of business practices and processes, which would otherwise have taken very long time to be implemented on ground. But information comes with an additional excess of irrelevant junk, unclear and inaccurate data, even conflicting, making it becomes difficult to sift what is important from what is not. This “excess information beyond what is desired or needed by any user requiring non productive processing” is called information overload. The number of work hours available and the inherent human capacity to absorb information have remained almost same over years whereas the need to access, understand and digest information had gone up many times.
Local market scouting reveals that most economic concerns have yet not fully appreciated possibilities offered by IT. Notable exceptions apart, computer technologies have not been integrated within corporate systems as of yet.
For many a CEO, president and chairman of companies the connected computers set on their tables are just another part of office equipment only to be used by others. But for inspiring examples that have taken the initiative and employed the technology, information is moving from being a marginal, specialist responsibility to being a central part of every business operation. Demand for executives, managers and employees, in these futuristic organisations, to become more aware of and prepared for handling the opportunities being offered by growing information has increased.
In this milieu, high end users are getting overwhelmed by the magnitude of information from multiple sources. What is more, sometime the required information is not at the surface. It is often difficult to understand if a web article is just a sales-pitch, self-serving opinion, a research study skewed by producers and sponsors with something to gain or is it factual. There is a lot of crap in other forms. Even search engines are selling result placements.
Having quality information in time is good and productive. With more and more information coming from so many different sources, users must be able to determine the quality of information before putting it to use. But determining quality can be tough. Many users are not particularly good at managing and filtering information that comes their way. Technologies so far can handle quantity but are still not mature enough to recognize quality of information. Which is why information overload gets unhelpful for those who are facing it? The avalanche of information, as per experts, in extreme cases may lead to unwanted results in the form of stress, frustration or physical illness.
“The situation is worst where organizations are in transition – changing from the old style of handling information to IT or where IT dependent new generation of executives is taking over family business enterprises,” says Dr. Norbert, an architect who uses the internet to do businesses in field of call centres. “I have to keep up to date on the technology sector. I have to review feedback from clients and also see what competitors are doing by visiting their web sites, reading online press releases and newsletters.
The information that I get is one of the most important tools in my sales game but I am afraid that I miss so much,” he adds.
David, an astute businessman running a money-changing concern in Lahore, has two computer screens on his work desk (also a number of telephones and mobile phone sets). Sometimes his assistants bring yet other mobile for him to answer when he is trying to focus on the rapidly rising and falling currency rates in the world money market. He also has to answer chat signals from fellow money changers and continuously watch what is coming in his inbox, sometimes firing off instant replies. He says, “Given the nature of my business and rapid fluctuation in currency rates I have to keep a constant watch on the global money market. This is what I do last thing before going to bed and first when I get up in the morning before coming to the office.
In addition, I also have to follow important events in the world that can cast tangible effects on economies of the world. But it is difficult to keep track of it all. I want sometime to myself but it is really not possible in this line of business.” Before employing IT, the first piece of paper Senta Kurt used to face each morning after coming in his office was a previous day inventory report from three different tent and canvas products manufacturing and exporting units he is managing in Kot Lakhpat.
“Before we employed IT, night staff used to produce required inventory report. Now my inventory is on networked computers and is up-to-date all the time. I can see it any time. Basing on this I can shift resources from one unit to another and control production. But when it comes to information required for running my business in global market, it sometime is daunting to find what I am looking for and to weed through the junk.” There must be an equilibrium point somewhere. Users have to define precisely what they need and in how much detail. There are technological fixes like using filters, email managers, favourites and the like to prioritize the coming information. Some other intriguing technologies to how people mine the Internet for information are in the pipe. But technical solutions alone may not be enough. “They can sometime aggravate the overload problem, because instead of how much one needs, they make it possible to get more. But given enough time and practice, one gets wise in distinguishing what is important in any particular field,” thinks Umar Manzoor.
In response to a query, Tatiana Andronache, Canadian Information Systems Professional emailed, “Information Overload is a fascinating phenomenon every web user experience at least some of the times. I have no idea what humankind is going to do with all the information: writings, analysis, images, sound tracks, movies, websites, you name it. People do not seem to be healthier, richer or happier because they have them. At a personal level, I deal through prioritizing, time-boxing and, when possible, multi-tasking.
What gets done, gets done, what not – oh, well! I avoid time suckers such as surfing the internet (I go to sites where I have business and finish quickly), no forums, chats, very little TV. Radio is a favourite because does not tie me up.” The first step to combat possible information overload is to identify the needs and take control. There is no universal formula fitting for users of different areas of interest therefore everyone may make own road map and shortcuts. “Knowing what is needed and cutting out unnecessary clutter outside the desired scope saves a lot of time,” says Dr. Norbert. Then users should decide what is manageable while taking into account time availability, ability to absorb and retain information. This involves establishing limits to the information hunting process and allows doing first thing first. The users should also realize when to stop gathering information and move on to making use of it. And acknowledge that none can get to know everything.
Information has made a huge difference in the world of business in particular, and chances are that it will continue to. Those who are using it purposefully can sure make their way with it and combat the information overload.
Emerging Tech News
In low tech local environment where an overwhelming majority is still struggling to access and find required information, there are some high end-users who are already complaining of information overload.
Busy executives, decision makers and other people taking advantage of computing in work and meaningful pursuits need all the quality information they can get. They turn to the web because it has amassed huge amounts of information in almost all areas of human activities. But what is information in the first place? Technically speaking, “information is stimuli that have meaning in some context for its receiver. When information is entered into and stored in a computer, it is generally referred to as data – information translated into a form that is more convenient to move or process. When information is packaged or used for understanding or doing something, it is known as knowledge – to an enterprise or an individual, the possession of information or the ability to quickly locate it.” For the purpose here, I think the term ‘information’ is the correct description of some of what is available on the web, rather than knowledge or wisdom.
Advances in web technologies and their growing usage have made the production, distribution, and sharing of information so much easier than what it was only a decade ago. It has reduced the time span of business practices and processes, which would otherwise have taken very long time to be implemented on ground. But information comes with an additional excess of irrelevant junk, unclear and inaccurate data, even conflicting, making it becomes difficult to sift what is important from what is not. This “excess information beyond what is desired or needed by any user requiring non productive processing” is called information overload. The number of work hours available and the inherent human capacity to absorb information have remained almost same over years whereas the need to access, understand and digest information had gone up many times.
Local market scouting reveals that most economic concerns have yet not fully appreciated possibilities offered by IT. Notable exceptions apart, computer technologies have not been integrated within corporate systems as of yet.
For many a CEO, president and chairman of companies the connected computers set on their tables are just another part of office equipment only to be used by others. But for inspiring examples that have taken the initiative and employed the technology, information is moving from being a marginal, specialist responsibility to being a central part of every business operation. Demand for executives, managers and employees, in these futuristic organisations, to become more aware of and prepared for handling the opportunities being offered by growing information has increased.
In this milieu, high end users are getting overwhelmed by the magnitude of information from multiple sources. What is more, sometime the required information is not at the surface. It is often difficult to understand if a web article is just a sales-pitch, self-serving opinion, a research study skewed by producers and sponsors with something to gain or is it factual. There is a lot of crap in other forms. Even search engines are selling result placements.
Having quality information in time is good and productive. With more and more information coming from so many different sources, users must be able to determine the quality of information before putting it to use. But determining quality can be tough. Many users are not particularly good at managing and filtering information that comes their way. Technologies so far can handle quantity but are still not mature enough to recognize quality of information. Which is why information overload gets unhelpful for those who are facing it? The avalanche of information, as per experts, in extreme cases may lead to unwanted results in the form of stress, frustration or physical illness.
“The situation is worst where organizations are in transition – changing from the old style of handling information to IT or where IT dependent new generation of executives is taking over family business enterprises,” says Dr. Norbert, an architect who uses the internet to do businesses in field of call centres. “I have to keep up to date on the technology sector. I have to review feedback from clients and also see what competitors are doing by visiting their web sites, reading online press releases and newsletters.
The information that I get is one of the most important tools in my sales game but I am afraid that I miss so much,” he adds.
David, an astute businessman running a money-changing concern in Lahore, has two computer screens on his work desk (also a number of telephones and mobile phone sets). Sometimes his assistants bring yet other mobile for him to answer when he is trying to focus on the rapidly rising and falling currency rates in the world money market. He also has to answer chat signals from fellow money changers and continuously watch what is coming in his inbox, sometimes firing off instant replies. He says, “Given the nature of my business and rapid fluctuation in currency rates I have to keep a constant watch on the global money market. This is what I do last thing before going to bed and first when I get up in the morning before coming to the office.
In addition, I also have to follow important events in the world that can cast tangible effects on economies of the world. But it is difficult to keep track of it all. I want sometime to myself but it is really not possible in this line of business.” Before employing IT, the first piece of paper Senta Kurt used to face each morning after coming in his office was a previous day inventory report from three different tent and canvas products manufacturing and exporting units he is managing in Kot Lakhpat.
“Before we employed IT, night staff used to produce required inventory report. Now my inventory is on networked computers and is up-to-date all the time. I can see it any time. Basing on this I can shift resources from one unit to another and control production. But when it comes to information required for running my business in global market, it sometime is daunting to find what I am looking for and to weed through the junk.” There must be an equilibrium point somewhere. Users have to define precisely what they need and in how much detail. There are technological fixes like using filters, email managers, favourites and the like to prioritize the coming information. Some other intriguing technologies to how people mine the Internet for information are in the pipe. But technical solutions alone may not be enough. “They can sometime aggravate the overload problem, because instead of how much one needs, they make it possible to get more. But given enough time and practice, one gets wise in distinguishing what is important in any particular field,” thinks Umar Manzoor.
In response to a query, Tatiana Andronache, Canadian Information Systems Professional emailed, “Information Overload is a fascinating phenomenon every web user experience at least some of the times. I have no idea what humankind is going to do with all the information: writings, analysis, images, sound tracks, movies, websites, you name it. People do not seem to be healthier, richer or happier because they have them. At a personal level, I deal through prioritizing, time-boxing and, when possible, multi-tasking.
What gets done, gets done, what not – oh, well! I avoid time suckers such as surfing the internet (I go to sites where I have business and finish quickly), no forums, chats, very little TV. Radio is a favourite because does not tie me up.” The first step to combat possible information overload is to identify the needs and take control. There is no universal formula fitting for users of different areas of interest therefore everyone may make own road map and shortcuts. “Knowing what is needed and cutting out unnecessary clutter outside the desired scope saves a lot of time,” says Dr. Norbert. Then users should decide what is manageable while taking into account time availability, ability to absorb and retain information. This involves establishing limits to the information hunting process and allows doing first thing first. The users should also realize when to stop gathering information and move on to making use of it. And acknowledge that none can get to know everything.
Information has made a huge difference in the world of business in particular, and chances are that it will continue to. Those who are using it purposefully can sure make their way with it and combat the information overload.
Emerging Tech News
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VGate – Virtualization Gate – Siggraph Emerging Technology 2009 by INRIA and 4D VIew Solution
petitbenjamin asked:
Submission video for Siggraph 2009 Emerging Technologies demonstrating VGate (Virtualization Gate) a new platform for immersive interaction. By Inria and 4DViews.
Emerging Tech News
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Venture Capitalists Prefer Large Established Markets
Robert Ochtel asked:
Many entrepreneurs only focus on bleeding-edge, burgeoning markets when developing their technology, product or service offering. This is done for various reasons including:
The perception that burgeoning markets have limited competition, The ability to establish an early foot-hold to increase the value of their company, and The reality of the difficulty in developing a differentiated, long-term competitive advantage in large established markets.
This article outlines why this market approach is generally too risky for many venture capitalists and then provides five reasons why venture capitalists prefer large established markets over bleeding-edge, burgeoning markets.
Emerging Bleeding-Edge Burgeoning Markets
Often in order to differentiate themselves from large, established competitors, smaller companies or start-ups believe that they should address emerging markets with bleeding-edge technology. Generally speaking, it is true that the larger competitors will not jump into a new, emerging market segment until it is deemed that the market has enough volume to support the required investment. In addition, these same large companies are more conservative in their investment philosophy and can afford to wait as they have the necessary resources and marketing presence to jump in quickly and create their own position in the emerging market. On the other hand, smaller companies or start-ups believe that if they can create a foothold in an emerging market, it will allow these same start-up companies to secure a strong position and for them to gain market share supporting a significant exit strategy for their investors by either going public (less likely) or getting acquired by a larger, more established competitor.
More often than not, this bleeding-edge, burgeoning market entry strategy comes with a large amount of risk. The most important risk factor here is that the underlying, emerging market that supports this bleeding-edge technology does not develop in a predictable, near-term time frame. In this situation, the technology pundits often claim that their target market or market segment will take off within the next year, providing their company with a substantial return on investment in a very short period of time. This optimistic view of the world, usually does not consider the time it takes to roll-out new technology infrastructure or to establish this same new technology with the customer base. More often than not, this one-year time frame turns out to be five to seven years. This makes it virtually impossible for a small, venture-funded company to finance the multiple generations of product development that are required before their bleeding-edge target market supports the shipment of significant enough volume to make their business model self-sustaining. In many cases, this same small high-technology, start-up-company has secured a tremendous amount of funding (e.g., $50M to $100M) and cannot secure additional funding from third-party investors. In this situation, the amount of funding secured significantly outweighs any financial value of the company or its technology, product, or service offering, requiring its investors to sell it to the first large company that will pay pennies on the dollar just to get out of the investment.
This scenario is not unusual. In fact, it has been my experience that within the high-technology wireless markets, this has happened to many start-up companies in the digital cellular, Bluetooth, the wireless LAN (WiFi) and WiMAX markets. For all of these markets, the pundits had projected substantial immediate growth in short periods of time, only to have the markets develop over much longer periods of time, causing many of the early, venture-funded start-up companies that targeted these markets to go out of business or to be sold to larger competitors for an insignificant valuation for the company and their investors.
This is not to imply that there are not many cases where venture-funded, start-up companies developing bleeding-edge technology for an emerging market did not secure a significant return for their investors. In the high-technology boom of the late 1990s, many large semiconductor companies were purchasing small start-ups to hedge their bets on some of the emerging wireless markets. At the time, many of these small companies were being purchased at valuations between $200M to $400M. These unheard of valuations, although good for the start-up companies, rarely made significant returns for the acquiring company, which often shut down these operations within one to two years after their purchase.
Large Established Markets With Strong Growth
A much stronger strategy is for start-up and emerging companies with unique and disruptive technologies to go after large, established markets with strong growth. This is the one of the untold secrets for receiving funding from the venture capital community. The venture capitalists always look for companies, as previous defined, with disruptive technology product or service offerings, looking to address large and established markets with strong growth potential. By addressing large, established markets with strong growth, one has eliminated the substantial risk that exists when there is the need for the underlying market to develop in order to support your business model. This generally is an undue amount of risk that many investors are unwilling to take to ensure their return on investment. In addition large established markets have five favorable market characteristics as described below.
Reason #1: The Market is Large
The market is large. By virtue of its large size, this makes the market very attractive to investors and new start-up companies seeking to establish themselves in the market. The market, due to its size, is big enough to support one or more new competitors. Therefore, the opportunity exists to establish your company in the market by securing enough market share to support your business model projections. In addition, due to the inherent size of the large market, it does not require your company to secure an unrealistic market share to meet its business goals. This makes the large market an excellent investment opportunity and significantly reduces any risk that is out of control of your company, the size of the market.
Reason #2: The Market is Established
The market is established. This also reduces the overall risk to your company looking to enter the market with your technology, product, or service offering. By being established, there is a defined history to the market, the competitors, and their technology, product, or service offerings. This makes the underlying dynamics of competition within the market well understood, again eliminating any unknowns and unforeseen risk that may be hovering just under the surface of smaller, less established markets. By addressing a market that is already established, your company can predict many of the risk factors that it will need to address to be successful in the market.
Reason #3: The Market Has Strong Projected Growth
A market with strong projected growth is desirable for two reasons. First, by having strong growth, your company can be assured over the long term of the opportunity to increase its return on investment. Strong growth also allows for the possibility of new market sub-segments to develop, creating additional growth opportunities for your company. Secondly, strong growth makes a market very dynamic. That is, there are new competitors trying to enter the market, and established players trying to retain their positions. This provides for more opportunity for your company to develop a compelling technology, product, or service offering that can be used to secure significant market share. The pure dynamics of a growing market requires established competitors and new competitors alike to constantly monitor the market for new opportunities, creating a highly competitive environment.
Reason #4: The Market Has a Known Customer Base
By being large and established, the market has a known customer base. Therefore, your company with its technology, product, or service offering can look at the established history of the market and determine the needs of your target customer base. In addition, with the established customer base there is always a strategic, opportunistic customer need that is not being addressed, providing for an opportunity to substantiate your company as a new competitor in the market. Generally speaking, established customers are always looking for new ways to differentiate their technology, product, or service offerings, providing themselves with a leg up on their competition. Also, with an established customer base, by studying the market leaders, and their specific customers, market positions, and product offerings, it is easy to determine what is required to make a company successful in the market.
Reason #5: The Market Demands New Customers
Large, established markets with strong growth also attract new potential customers for your technology, product, or service offering. By virtue of its size, growth, and the underlying dynamics, new customers will always be looking to establish themselves in the target market. These new customers may be established competitors or new competitors, but one must always assume that there exists opportunity for new customers for your technology, product, or services offering. Many times these new potential customers exist under the radar. They may be strong competitors in complementary markets, new venture-funded start-ups, or large corporations looking to established themselves in non-related markets. The issue here is that, for large, established markets with strong growth, there always exist new potential customers for your technology, product, or service offering. The key is to do your research and due diligence to identify these new potential customers.
Since all venture capitalists are by their nature risk adverse, it pays for entrepreneurs to target markets that are large with strong growth. Generally speaking bleeding-edge, burgeoning markets end up being a disappointment — both for the entrepreneur and their investors, resulting in much lower returns for the venture capitalists. The five reasons outlined here provide the entrepreneur with the necessary insight that will allow them to be discriminating when choosing their target markets of interest.
Emerging Tech News
Many entrepreneurs only focus on bleeding-edge, burgeoning markets when developing their technology, product or service offering. This is done for various reasons including:
The perception that burgeoning markets have limited competition, The ability to establish an early foot-hold to increase the value of their company, and The reality of the difficulty in developing a differentiated, long-term competitive advantage in large established markets.
This article outlines why this market approach is generally too risky for many venture capitalists and then provides five reasons why venture capitalists prefer large established markets over bleeding-edge, burgeoning markets.
Emerging Bleeding-Edge Burgeoning Markets
Often in order to differentiate themselves from large, established competitors, smaller companies or start-ups believe that they should address emerging markets with bleeding-edge technology. Generally speaking, it is true that the larger competitors will not jump into a new, emerging market segment until it is deemed that the market has enough volume to support the required investment. In addition, these same large companies are more conservative in their investment philosophy and can afford to wait as they have the necessary resources and marketing presence to jump in quickly and create their own position in the emerging market. On the other hand, smaller companies or start-ups believe that if they can create a foothold in an emerging market, it will allow these same start-up companies to secure a strong position and for them to gain market share supporting a significant exit strategy for their investors by either going public (less likely) or getting acquired by a larger, more established competitor.
More often than not, this bleeding-edge, burgeoning market entry strategy comes with a large amount of risk. The most important risk factor here is that the underlying, emerging market that supports this bleeding-edge technology does not develop in a predictable, near-term time frame. In this situation, the technology pundits often claim that their target market or market segment will take off within the next year, providing their company with a substantial return on investment in a very short period of time. This optimistic view of the world, usually does not consider the time it takes to roll-out new technology infrastructure or to establish this same new technology with the customer base. More often than not, this one-year time frame turns out to be five to seven years. This makes it virtually impossible for a small, venture-funded company to finance the multiple generations of product development that are required before their bleeding-edge target market supports the shipment of significant enough volume to make their business model self-sustaining. In many cases, this same small high-technology, start-up-company has secured a tremendous amount of funding (e.g., $50M to $100M) and cannot secure additional funding from third-party investors. In this situation, the amount of funding secured significantly outweighs any financial value of the company or its technology, product, or service offering, requiring its investors to sell it to the first large company that will pay pennies on the dollar just to get out of the investment.
This scenario is not unusual. In fact, it has been my experience that within the high-technology wireless markets, this has happened to many start-up companies in the digital cellular, Bluetooth, the wireless LAN (WiFi) and WiMAX markets. For all of these markets, the pundits had projected substantial immediate growth in short periods of time, only to have the markets develop over much longer periods of time, causing many of the early, venture-funded start-up companies that targeted these markets to go out of business or to be sold to larger competitors for an insignificant valuation for the company and their investors.
This is not to imply that there are not many cases where venture-funded, start-up companies developing bleeding-edge technology for an emerging market did not secure a significant return for their investors. In the high-technology boom of the late 1990s, many large semiconductor companies were purchasing small start-ups to hedge their bets on some of the emerging wireless markets. At the time, many of these small companies were being purchased at valuations between $200M to $400M. These unheard of valuations, although good for the start-up companies, rarely made significant returns for the acquiring company, which often shut down these operations within one to two years after their purchase.
Large Established Markets With Strong Growth
A much stronger strategy is for start-up and emerging companies with unique and disruptive technologies to go after large, established markets with strong growth. This is the one of the untold secrets for receiving funding from the venture capital community. The venture capitalists always look for companies, as previous defined, with disruptive technology product or service offerings, looking to address large and established markets with strong growth potential. By addressing large, established markets with strong growth, one has eliminated the substantial risk that exists when there is the need for the underlying market to develop in order to support your business model. This generally is an undue amount of risk that many investors are unwilling to take to ensure their return on investment. In addition large established markets have five favorable market characteristics as described below.
Reason #1: The Market is Large
The market is large. By virtue of its large size, this makes the market very attractive to investors and new start-up companies seeking to establish themselves in the market. The market, due to its size, is big enough to support one or more new competitors. Therefore, the opportunity exists to establish your company in the market by securing enough market share to support your business model projections. In addition, due to the inherent size of the large market, it does not require your company to secure an unrealistic market share to meet its business goals. This makes the large market an excellent investment opportunity and significantly reduces any risk that is out of control of your company, the size of the market.
Reason #2: The Market is Established
The market is established. This also reduces the overall risk to your company looking to enter the market with your technology, product, or service offering. By being established, there is a defined history to the market, the competitors, and their technology, product, or service offerings. This makes the underlying dynamics of competition within the market well understood, again eliminating any unknowns and unforeseen risk that may be hovering just under the surface of smaller, less established markets. By addressing a market that is already established, your company can predict many of the risk factors that it will need to address to be successful in the market.
Reason #3: The Market Has Strong Projected Growth
A market with strong projected growth is desirable for two reasons. First, by having strong growth, your company can be assured over the long term of the opportunity to increase its return on investment. Strong growth also allows for the possibility of new market sub-segments to develop, creating additional growth opportunities for your company. Secondly, strong growth makes a market very dynamic. That is, there are new competitors trying to enter the market, and established players trying to retain their positions. This provides for more opportunity for your company to develop a compelling technology, product, or service offering that can be used to secure significant market share. The pure dynamics of a growing market requires established competitors and new competitors alike to constantly monitor the market for new opportunities, creating a highly competitive environment.
Reason #4: The Market Has a Known Customer Base
By being large and established, the market has a known customer base. Therefore, your company with its technology, product, or service offering can look at the established history of the market and determine the needs of your target customer base. In addition, with the established customer base there is always a strategic, opportunistic customer need that is not being addressed, providing for an opportunity to substantiate your company as a new competitor in the market. Generally speaking, established customers are always looking for new ways to differentiate their technology, product, or service offerings, providing themselves with a leg up on their competition. Also, with an established customer base, by studying the market leaders, and their specific customers, market positions, and product offerings, it is easy to determine what is required to make a company successful in the market.
Reason #5: The Market Demands New Customers
Large, established markets with strong growth also attract new potential customers for your technology, product, or service offering. By virtue of its size, growth, and the underlying dynamics, new customers will always be looking to establish themselves in the target market. These new customers may be established competitors or new competitors, but one must always assume that there exists opportunity for new customers for your technology, product, or services offering. Many times these new potential customers exist under the radar. They may be strong competitors in complementary markets, new venture-funded start-ups, or large corporations looking to established themselves in non-related markets. The issue here is that, for large, established markets with strong growth, there always exist new potential customers for your technology, product, or service offering. The key is to do your research and due diligence to identify these new potential customers.
Since all venture capitalists are by their nature risk adverse, it pays for entrepreneurs to target markets that are large with strong growth. Generally speaking bleeding-edge, burgeoning markets end up being a disappointment — both for the entrepreneur and their investors, resulting in much lower returns for the venture capitalists. The five reasons outlined here provide the entrepreneur with the necessary insight that will allow them to be discriminating when choosing their target markets of interest.
Emerging Tech News
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