“Without continual growth and progress, such words as improvement, achievement, and success have no meaning.” Benjamin Franklin, USA Founding Father
As part of the Fast Forward Summit Launch 2017 from Thanksgiving Thursday, Roger Hamilton posts one of the Top 10 Future Trends of 2017 each day on the Entrepreneur Institute’s Facebook page. The following is a summary of his top ten list explaining the ten most critical things to know about how business is changing in the year ahead.
Trend 1: The Three Lane Economy
Twenty years ago, we had a 1 lane economy. All you needed to do was to get in front of a customer and earn their money.
Ten years ago, we grew to a 2 lane economy. You could still grab people’s time with an ad or phone call, but you could no longer take people’s attention for granted.
Today, we have grown to a 3 lane economy. Attention can no longer be bought because no one is spending time watching ads. So now time needs to be earned too. This is done by interacting with people via various social media channels. The most successful companies understand the value of nurturing a community over building a list.
Trend 2: Experience vs. Content
Ten years ago, musicians would make their money by selling songs and albums. Today, most music is listened to for free on streaming sites and platforms like YouTube. Why will this trend grow even more rapidly in 2017?
Because the volume of free available media continues to exponentially grow. Mixed reality will hit the mainstream.
Trend #3: Less Walls And More Doors
Over the last decade, social networks like Facebook, YouTube, Instagram and LinkedIn, together with trading platforms like Amazon, eBay, and Alibaba, have connected people and places, markets and movements globally.
Why Is This Trend Towards Greater Connection Going To Grow In 2017?
According to A World Of Languages, out of 7.4 billion people in the world, only 335 million people speak English as a first language. Only 505 million more speak it as a second language. That’s just 11% of the world population. How did Alibaba sell in so many countries? Because they already operate in all the major world languages.
Trend #4: Learning Networks
Learning networks are the evolution of social networks. When social networks like Facebook and LinkedIn appeared ten years ago, they transformed our speed and volume of connections. Want to find the best health tips? Follow the right pages on Facebook. Want to play the guitar? Watch the right videos on YouTube. Want to keep up with future trends? Follow the right people on Twitter.
Entrepreneurs Institute Launched “GeniusU”
GeniusU is a learning network for entrepreneurs to share their best learning and connections with each other. In just over a year, we’ve attracted over 600,000 entrepreneurs from 180 countries. Education itself will be transformed not by some new school system, but by learning networks where the students drive the social learning and are united by a common purpose.
Trend #5: Digital Currencies
While digital wallets like Apple Passbook and Google Wallet, and Cryptocurrencies like Bitcoin and Ethereum have been around for some time, 2017 will be the year of mass adoption. Companies like Stripe, which just raised $150 million at a $9 billion valuation on Black Friday, allow you to accept Bitcoin with one click of a button. The year 2017 will be the beginning of a new era in which money begins a switch from being a scarce resource to becoming an abundant means of exchange.
Trend #6: The Fall Of Email Marketing
Do you use email marketing as one of the main ways to connect with your customers? Then read about the fall of email marketing. Even the best marketers with lists of 100,000+ prospects and customers are only achieving 20% to 30% open rates and 4% to 8% click-through rates (which means 20% to 30% of those opening and clicking) at the very most. A whopping 90% of their lists aren’t responding.
Compare that to 1.18 billion of Facebook’s 1.79 billion users logging in every day. That’s 67% responding daily without Facebook needing to send them any emails. This year, over 60% of people accessed the Internet via mobile phones. This October, according to web analytics firm StatCounter, the percent of total global internet usage via mobile also exceeded all desktops for the first time. When you focus on what the customer wants to read, where they want to read it, your level of engagement grows. So test, measure, and be open to change in 2017.
Trend #7: Mixed Reality
Today you’re reading this post on a Facebook Wall. In a year, you’re more than likely going to be reading, watching or connecting in a virtual Facebook Room via a wearable wrist strap. Last month Mark Zuckerberg did the first live demo of
Today you’re reading this post on a Facebook Wall. In a year, you’re more than likely going to be reading, watching or connecting in a virtual Facebook Room via a wearable wrist strap. Last month Mark Zuckerberg did the first live demo of what he called “Social VR,” where he went from the Oculus Connect 2016 stage in front of the audience to Mars, to his office, to his home. Within a few minutes, he did everything with his two demo buddies from playing chess, to sword fighting, checking messages, and ending with a selfie of his VR self with his real-life dog and his wife.
It’s hard to imagine that most of us won’t be using smartphones in 2020. It’s also hard to work out what we could or should be doing to prepare for this coming wave.
What is The Entrepreneurs Institute Doing?
We’re staying focused on the problem we’re solving for our community and our customers. The emphasis is on the need to access the best knowledge and network to support their progress wherever they are on their entrepreneurial journey. We’re partnering with mixed reality developers to help effectively solve that problem. From creating virtual rooms for global masterminds and meetings within GeniusU, to live streaming our larger summits in virtual reality.
We’re starting with the minimum viable product and then scaling as we grow engagement. All with a commitment to staying on the front edge of the wave. When faced with new technology, you have three options: sink, swim, or surf. My recommendation is to always take the third option.
Trend #8: Renaissance 2.0
Five hundred years ago Europe came out of the Dark Ages with entrepreneurs like the Medici Family bringing back the ancient wisdom of the Platonic Academy. At the same time, Humanism and sponsoring artists like Michelangelo and Leonardo Da Vinci lifted the human spirit. This age became known as the Renaissance era. It was based on artistry and personalized masterpieces.
Today, the same shift is taking place from mass production to customization, from information to inspiration, and from transactions to transformations. Tesla is an example. Every part of your car can be personalized. You can do it easily online or in a Tesla store. This expands to all areas of life. The year 2017 will see the beginning of the end of one-size-fits-all education systems and pharmaceuticals, and one-size-fits-all factories and factory farms.
What Can You Do To Shift Your Business In This Age Of Artisanship?
You can shift your business in the age of artisanship by increasing quality while decreasing quantity. Also, you can tailor the user experience to focus your business on a customer of one. You can give your customers the tools to personalize their own experience.
Trend #9: Return To Earth
We are at a tipping point which few are aware of – and it’s a positive one. After 100+ years of destroying the planet, 2017 is the year we begin the irreversible return to a sustainable Earth.
Why? The rise in innovation, the drop in technology cost, and the growing collective action to switch to renewable energy and reverse climate change. This month 197 countries issued the “Marrakesh Action Proclamation” – reaffirming the Paris Agreement. It states, “This year, we have seen extraordinary momentum on climate change worldwide, and in many multilateral fora. This momentum is irreversible.” The year 2017 will be a year we remember. When these different forces combine to make the return journey to earth, it will be the beginning of the path back to where it was before our age of destruction.
Trend #10: World Wide Wealth
In 2017, a series of buggies will land on the moon. This is the first time since the U.S. and USSR moon landings in the 1970’s left five buggies up there. These 2017 landings will give us our first images of Earth from the surface of the moon since the 1970’s.
At the time, the futurist and architect Buckminster Fuller said: “Humanity is taking its final exam. We have come to an extraordinary moment when it doesn’t have to be you or me. There is enough for all.” He said: “Whether it is to be Utopia or Oblivion will be a touch-and-go relay race right up to the final moment.” In 2015, forty years after Buckminster Fuller spoke about the final exam, the United Nations published the 17 United Nations Global Goals. These goals set 2030 as a target from ending poverty to reversing climate change, to education and equality for all. In 2016, milestones for the goals from now through to 2030 were created. On December 5th, the first Global Goals gathering and gala was held in New York.
The year 2017 will be the first time the final exam gets a global report card on World Wide Wealth. Each day we are hearing of new solutions from individuals, teams, and entrepreneurial projects that go another step to passing Bucky’s Final Exam.
Our Fast Forward Summits are one example of the final exam in action. In 2017, we will be running 8 Major Summits and 50 Satellite Summits around the world. These events will connect entrepreneurs to make the greatest positive impact on the planet. They will align all our activities to measurable progress towards the 17 United Nations Global Goals. I hope you’ve enjoyed Roger’s top ten trends for 2017.
And I hope you’ll join us at one of our Fast Forward Summits.
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