New Year, New Direction
Insights by Peter Watson.
Happy New Year!
As I was watching the London Eye fireworks that marked the turn of the year I couldn’t help feeling that less is somehow more. Twelve minutes seems an awfully long time to be staring at flashes in the sky – where once we got excited by a malfunctioning Catherine wheel!
The more we get of something, the more we need to continue to make an impact. Then something new comes along to re-set. Drones have perhaps started that move in the firework world. The same is certainly true of marketing – first outbound, then inbound, all now suffer from over exposure.
How can each of us, in our own way, make more impact? We perhaps need to be more aware of where trends are taking us and ensure that we move more towards the early adopter* phase. Yes, there are uncertainties, we won’t be sure of the return, but we will be well placed when the majority adopts, and thereby able to capitalise.
* The diffusion of innovations according to Rogers. With successive groups of consumers adopting the new technology (shown in blue), its market share (yellow) will eventually reach the saturation level. The blue curve is broken into sections of adopters.
– Based on Rogers, E. (1962) Diffusion of innovations. Free Press, London, NY, USA.
As SMEs we should be able to adapt much more quickly to these trends, and when larger companies realise that they have missed the boat, they will look to acquire the expertise – at a typically high multiple!
We have just launched our annual survey for owners of software and IT services businesses. So, if this is you, please do take a couple of minutes to let us know how 2024 went and your expectations for this year. The survey is anonymous and the results will be published in our next M&A report due out in a few months. Take the survey here: https://s.surveyplanet.com/5scxrrmc
Like many people, you may have done some thinking over the holidays about your tech business and what to do with it next. If you’ve decided that selling it is on the cards within the next few years, then do check out our next live webinar taking place in February. We can help you make it more attractive to potential buyers and increase its value. If you receive our monthly newsletter there is a special discount code for you in the email. Find out more about the webinar here: www.prismcorporatebroking.com/webinar