In 2015, Forbes identified 36 prominent startups who had accumulated more than $1 billion in global revenue. Each of them was creating and selling next-generation products and services that not only addressed the consumer challenge of selling in the online world, but also incorporated sophisticated technology.
It’s no surprise then that technology is a crucial part of how they stay ahead in this fast-changing industry. It’s the single most important investment you can make as a business. The two examples I would like to talk about here are connected to the Internet and Internet of Things (IoT) and Internet-connected smart devices. Of course there’s infinite value in perhaps a third example which will only be mentioned in passing, which is of course big data. The latest top 20 online casino UK list is indeed about more than people who are interested in online betting, for instance, because those are real users who have demonstrated a real ability to spend real money. They naturally have other interests, needs, desires, etc…
The Connected Technology That Makes Businesses Unstoppable
Everything has become digital; data is at our fingertips and finding out the answers to almost anything is easy and quick. This enables our smartphones to connect with anything we use and thus the smartphone becomes one of the most important technologies we have in the world today.
The smartphone also enables us to make use of smart devices that make using the smartphone a lot more efficient. Smartphones can be used to remotely manage many different things such as thermostats, cameras, smart fridges and much more.
Smart refrigerators are an important part of the connected technology ecosystem. They help make our business operations more efficient in many ways. For example, they monitor the temperature, water and gas in a home to make sure the home stays at a certain temperature and water is replenished regularly. Additionally, smart fridges can also automatically start the microwave or make adjustments to the temperature or quantity of water based on different demands such as when someone needs a quick breakfast.
Connected appliances provide us with a seamless technology experience that connects us with our business operations. For example, smart water pumps connect a water pump and the water supply in your home. This enables you to have your refrigerator send you real-time data on the water level, the temperature, how much water is available, and the amount of water your refrigerator is providing. The smart appliance has the ability to also shut off the water supply when the water level in the house is too low.
Technology and the Internet of Things have the ability to make businesses un-stoppable. It’s what the smart entrepreneurs are looking for and it’s the reason why they are investing so much in building their business ecosystem using innovative solutions.
It’s not so much about the technology itself but what the technology enables us to do as a business. This is exactly where entrepreneurs are placing the focus in 2016: their business ecosystems.
I’m not saying IoT devices are going to make businesses un-stoppable. But they will make your business grow even faster than it would have grown without the technology, enabling you to scale faster than you would have been able to otherwise.