AFO Associates, LLC
My Point of View
August 6, 2017 | Mark Matthew
Without trying to date myself, I remember back in the days of my early corporate finance career, when green ledger paper, white out, and a whole lot of paper and file cabinets were utilized to conduct day to day business operations. In school, I took tests to show speed and accuracy or “wpm” (words per minute) on a typewriter. Today my kids ask me “What’s a typewriter?!?” I tell them that it used to be THE state of the art way of writing up professional looking correspondence. In fact, it was the only way, and now, it is just obsolete. They just laugh. My 6-year-old son could already navigate a laptop and use a cellphone before he learned his ABC’s in kindergarten. I didn’t even think about typing until high school and for that matter, when I was in high school, “cellphone” wasn’t even a word! Yep, I went and did it, I dated myself…I am no spring chicken! That’s okay, I don’t consider age as a detriment. I look at myself, rather, as a well-seasoned bird!
Does anyone out there remember:
Carbon paper: It used to make the worst handwritten copies. I liked
the new carbon-less triplicate forms. Top sheet was white, middle sheet yellow and 3rd sheet usually pink or blue. You had to write with a hammer and chisel in order to read the 3rd copy. Carbon paper was also used in early Brother Fax machines.
The Dewy Decimal System: you actually had to be IN a library to understand this system. I do remember that Math & Natural Science was under the 500’s, Applied Sciences – 600’s and Geography & History – 900’s. Today, when I ask my kids where the Technology books are, they say “Aisle 9 by Starbucks!”
The dinosaur of computer printouts! Talk about wasting paper. Green and white ledger paper with hole guides you had to line up and feed into the printer. It was perforated and folded in such a way so that if you lay the 1st few sheets down on the floor just right as it was printing, your 500 page report would stack nicely back and forth. Then you had to tear the perforated hole guides off and separate each individual sheet, take it to the copier and reduce the image so you can produce a report that can be reviewed by upper management. You also had to make sure you printed on the right side, not the green AND white side.
Anyways, I can go on and on… The whole point of this exercise is this, been there, done that, lived it, and other than vinyl records, would I go back to any of it in a business setting? Odds are no. Because of the advancements in technology, which btw, is still listed in the 600’s under the Dewey Decimal, now called a “Classification” System, the way we conduct daily business processes today has changed so dramatically in just a short period of time. Think about it. How much has changed in 20, 10, even just 5 years ago?
20 years ago, when you left work at 5PM, that was it until the next morning, zero hour, 9AM! - Elton John(Rocket Man-1972)
10 years ago, when you left work, your boss could still contact you by email on a Blackberry. (Blackberry is already considered old tech)
5 years ago, if you ever got to leave work, you are still totally accessible via desktop, tablet and mobile device.
Here is another example of how technology has changed in just a few short years:
“Alexa, play music!” and “Alexa, reorder more supplies!”
Where do you think technology will take us in just another 5-10 years?
Businesses that incorporate technological advancements to their advantage tend to move ahead. Look at Amazon.com. Do you have a Prime account? Amazon created and just ran their 3rd annual Prime Day in mid-July 2017 with record sales. It’s Christmas year-round for Amazon! While we’re on the subject, I used to work for a retail company that went belly up because of a fierce competitor we all know as Wal-Mart. Did you think that anyone would ever challenge this MEGA RETAIL GIANT? Well, it took an Amazon (not Wonder Woman)!
Businesses that don’t evolve with the changing times tend to end their time as a business. A&P, Blockbusters, Borders, Circuit City, Linens & Things and Radio Shack just to name a few that recently have or are in the process of folding up their tents. Corporate America, a place where you can go thru Chapter 11 before you get to Chapter 7! Trust me, I’ve been through this story a few times. Neither of these chapters is a very good read and the ending was always bad.
If you are a business owner or thinking about starting your own business, consider all of the resources that you have at your disposal and use them to your advantage! Keep an eye on what is trending in the market and be prepared to adjust so your business can evolve with the changing times. Don’t be reluctant to change just because you are comfortable doing the same processes you have always been doing. Complacency can destroy any good run. A recent example of this is
Blackberry. In 2006, Blackberry controlled half of the world's smartphone market. Then in 2007, a guy named Steve Jobs took to the stage and said Apple had just re-invented the phone! We call it an iPhone. Blackberry reps said the iPhone was nothing to worry about, we'll be fine! In just 5 years, Blackberry went from a profit of 2 billion dollars to a loss of almost 6 billion! Today Blackberry is barely 1% of the smartphone market and my kids ask "What's a Blackberry?" If a billion dollar corporation like Blackberry can take a downturn like this, it can happen to any business! So in order for your business to grow, YOU, as the business owner, must grow with it. Embrace change and stay ahead of the competition.
That’s my point of view.
When you think of Aristotle, you think of logic. Some say Aristotle was the creator of the computer by utilizing just his mind and an abacus. His influence on philosophers set the table for the technological revolution that we are experiencing today.
Imagine what Aristotle would have done with an iPhone in his hand…
Imagine how many he would have influenced if he just had a website…
“Mathematics may be defined as the subject in which we never know what we are talking about nor whether what we are saying is true.” - Bertrand Russell
Something I wanted to share:
My family and I visited a popular park in our area(Bergen County, NJ) the other day and I saw some writing on the wall that I appreciated and wanted to share. It went like this…
IF YOU PLAN FOR ONE YEAR, PLANT RICE.
IF YOU PLAN FOR 10 YEARS, PLANT A TREE.
IF YOU PLAN FOR 100 YEARS, EDUCATE YOUR CHILDREN.
Bonus points if you can name the park.
Double bonus points if you have a picture of the wall…like I do.
One more thing:
What things do you remember using or doing when you were growing up that are now considered obsolete?
Remember working water fountains in parks? The good ol' days when we used to drink water right out of the tap without any fears. Now you have to seek out water like a Bedouin Nomad that’s lost in the desert! And even worse, have to PAY for the bottled water and schlep it back home from BJ’s like a camel! What’s next? Bottled air?!? FACT: Scientist say that oxygen wasn’t discovered until 1773. Really? What was everyone breathing in 1772?
ABOUT THE AUTHOR:
Mark Matthew is a member of AFO Associates, LLC. AFO Associates provides business solutions in an innovative environment. Mark Matthew, along with many other collaborators, are always seeking to provide platforms to assist others in reaching beyond their expectations.