Tag: Digital

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The Trillion Dollar Company Club

You must have heard, how recently Apple become a ‘trillion dollar’ company.

Yesterday, Amazon did the same. That’s right, they joined the ‘Trillion Dollar Company Club’. Not bad for a 24 year old company.

When they went public in 1997, their share price was $18. Tuesday, the share price hit $2,050. Valuing the company, just over $1 Trillion.

Wonder if Jeff would’ve ever thought, Amazon would be the second company to enter the ‘Trillion Dollar Company Club’ when he sat in his office, with a hand painted sign on the wall… selling books on-line.

It’s a brilliant success story.

Only 2 companies have achieved this phenomenal success. Only 2 companies in that club. But I’m certain, over the next few years, we’ll see more enter the club.

It comes down to a few reasons why Amazon and Apple have achieved such success – Innovation.

The ability to keep adapting.

The ability to keep growing.

The ability to keep thinking, trying and venturing into new areas.

To keep going… Business as Usual (BAU) – won’t get you into the Trillion Dollar Club. In fact, it probably won’t get you into any club.

But that’s the problem – you have to invest. You have to grow. You have to think differently.

So, Jeff… is one of the richest people in the world… but what’s the real secret? A few years ago, Jeff shared…

Customer first – we all know that.

Invent, Innovate… yep, got that.

Be Patient. Ah…. that’s something we don’t have these days. We don’t have the patience to let things grow, to understand and see how they turn out.

To keep trying… it’s easier to say – park it/bin it/stop it… if it isn’t working.

How much patience have you got to keep going? to keep learning, re-adjusting and figuring it out?

We could relate this to football. How managers of teams are sacked very quickly, if there’s a number of losses and the team performs very badly.

I remember when Alex Ferguson (the Manchester United boss) had a string of bad results and had one match to save his position. Funnily enough… he won that match and went on to be one of the most successful managers, in English Football, of all time.

I know this very well… because it was against Nottingham Forest.

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Bal, what TV should I buy?

I’m often asked… and rightly so, as I’m a bit of a tech person… what TV should I get Bal?

That’s a great question.

My answer used to be, how big is your room… now it’s more like, what is it you want to watch?

Our behaviours are changing… due to technology! –  We’re watching less TV… you probably knew that, right? – we’re watching more YouTube on our tablets, catching up on episodes via our phones and the short video clips via social media channels such as Facebook.

So, what you’re saying is… I don’t need a new TV Bal?

Well… depends how old your current one is… but ignoring that fact, and based on you asking me… I’m going to say Yes. Yes you do. Yes you do need a new TV.

Why?

Well… whilst it’s great watching clips and short videos on your phone or tablet…. Isn’t it great to watch a film every now and again on a larger screen? What about some sports…. maybe a game of football in 4K? If you have sky sports… you could go multi-screen! Flick between matches and games on the same channel!

Now…. Back to your original question… which TV should I get.

Simple.

Smart. 4K. TV. That’s all you really need. Size of the TV depends on how big your room is.

Now, whilst I won’t go into specific makes and models… because you get what you pay for. If you want more than the standard 2 HDMI ports…. You’ll have to pay more. If you want something with good quality sound… then you’ll have to pay more.

You want it to be SMART – so it connects to your Internet, and you can watch films via your Netflix or other such account… and there’s so much more you can do (you can still watch those YouTube videos without straining your neck at a 45degree angle downwards.

4K – so the quality is there. There is truly a huge difference between HD and 4K.

Now, this is relevant for today.

I’ve seen 8K and was blown away.

But you don’t need anything like that for the moment.

You can pick up a half decent Smart 4K TV 49” for around the £350 mark.

Yes there’s deals and offers – and you can find them cheaper (you can also find them more expensive) – but that’s the approx. price you should be looking at to pay.

You can go fancy, and get a curved one. Is it worth it – the jury’s out on that one.

You could improve sound by getting a sound bar. I would recommend this. Most new TV’s have an optical port – for you to plug your soundbar into. Fast becoming a home cinema.

So… whilst I was unable to answer your original question of what TV… I hope I’ve provided some guidance… to what… and to how much….

I once bought one of my TV’s when I was shopping at Tesco…. no joke! – I went in to buy some Milk and cookies (essentials for bedtime)… and I saw a TV, at a great price. So, like any normal person, I put my basket down, opened Google… did a quick search on the internet for the best price for that TV… had a quick look at the reviews…. everything seemed fairly positive.. for the price.. and this in-store price was alot cheaper than any on-line price, so I ditched the basket and picked myself a trolley and a TV.

There’s various sites such as – trustedreviews.com and expertreviews.co.uk –  that can show you pro’s and con’s of each latest TV and the Top 10 TV deals.

So, whilst we are watching less TV… it’s still a nice box in the corner… ok, not a box anymore… still a nice flat (or curved) display, in the corner (or on the wall) that will allow you and the family… friends… to come together and enjoy.

It’s not going anywhere fast…. Unlike computers…

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Is this the Start of the End of the High Street?

We’ve seen Toys’R’Us announce they’re closing stores.

We’ve seen it with Maplins… they’re also closing shop.

I’ll be honest – I’m surprised Maplins kept on going so long with their physical stores. Most of the ‘tech’ items you can buy in there… you can probably buy at a lower cost, online.

I remember, a few months ago – I went in there. Can’t remember what it was that I wanted, but the staff were really helpful, and they said – we’ve not got it in store, but it’s available online.

I left, went to my computer – had a look – and he was right, there it was online. But then, I thought, how much is it with Amazon (other online retailers are available). And you probably guessed it – yes, it was a little cheaper with Amazon, and being a Prime customer, I also had the option of free next day delivery.

Yesterday, in the news – it was announced that shares in Carpet Right and Mothercare fell – concerns that they’ll follow the same path as those mentioned above.

Mothercare is in the midst of a store closure programme. Their shares fell 12%. 140 down to 80 stores they have proposed… now that’s a lot of store closures.

Then there’s Carpet Right. They have 409 stores across the UK – and have been struggling and under-performing.

So the question is… Is this the Start to the End of the High Street?

Well… it’s all about change. As Darwin said, it’s not the strongest that survive.. but those who are most adaptable to change. Now admittedly, he was talking about species… but you can apply the same thinking to businesses.

Have any of the above evolved over time? Have they introduced or used, new technology to help their customers?

I feel, there’ll always be a need for a physical presence of a store – depending on what they’re selling – and a great example of this is Amazon and their new physical store they are trialing out.

It’s a shame to see these great big stores close. But if you can buy it easier, cheaper and with less hassle… elsewhere (be it online or in other stores) then why not?

All businesses should be thinking – what do I need to do, to ‘future-proof’ myself?

What technology can we use to make the life of our customers easier? – Look at Ikea and how they’ve evolved… now using Augmented Reality… or should I say, are offering within an app, Augmented Reality, so you can see what furniture looks like, in your home…

What is the overall process our customers have to go through – that we can understand better, and help them to make their decisions quicker and ensure we offer everything to them…. because it’s all about the customer.

High street shops & companies must adapt.

Otherwise – this is the start, of the end… of the High Street.

 

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‘Hook me up on Insta…’

This week, I was at a team meeting over in Madrid, Spain.

It was a lovely location, quite near the city… and walking distance to some really good restaurants, where I was able to take photos of the tasty food.

During the meeting, we had the usual on the tables… paper, pens… water… and some jelly beans.

Okay, it might be a bit out of the norm to have jelly beans, but we had several packets on the table.

Now, one of these packets was next to me, and I picked it up… had a look and placed it back down. No… I didn’t have any, on a little diet… New Year, New Me and all that.

Anyhow, what I did notice were the social media images on the back of the pack.

Now, usually – I probably wouldn’t have looked twice… but where the contact details usually are… there were social media icons. Is this the new norm? – if you want to contact them, find them on facebook, twitter, etc… and then reach out to them…?

Now, let’s be honest… we’re all on Facebook… or Twitter (or both!)… Instagram…. And I’m sure, we’ve all watched a video or two on YouTube. We know these channels very well. So it’s normal for us to be on them… for us to connect with brands (as well as friends, family, etc…)… and then be able to contact them.

And more importantly… it’s great! – you don’t have to email… you don’t have to write a letter… just when you’re posting that photo of you on the beach onto Facebook to share with your friends, why not connect with the brand and let them know your thoughts.

But moreso… what got me was…. Just icons where there. No words. That’s right… it didn’t say ‘Facebook’… it just have the logo…. It didn’t say ‘Instagram’… just the logo. Which means, these social media platforms, which have millions and millions of users… don’t need to be described or explained.

And I’ve noticed… we are using less and less words when communicating.

Take for example, Emoji’s.

One emoji = words. Could be several words. Could even be a whole sentence!

Are we moving back in time… to the era of hieroglyphics?

It’s fine. It doesn’t matter how you communicate. As long as you do communicate.

New Ways of Communication.

New Channels to your customers.

It’s about knowing your customer.

Not everyone should be using emoji’s or pictures. If you audience are elderly folk… you’ll probably need some printed, large text, leaflets and materials. But… what if your audience are young. What if your audience are on Snapchat all the time… what if your audience have more photo’s with Snapchat filters than… without!

Comes back to the basic principles of Lean. Start with the customer.

And it’s even easier these days… with the amount of data that’s available, for you to do an analysis on your customers… understand how they’re communicating and how they’d like to be communicated to.

So in summary….

  1. Have a Social Media Strategy – Everyone (nearly everyone) is on social media. Find out which is the right one for you… and understand how you can use the channels effectively.
  2. Execute your strategy – Content is King! – That’s right, build some engaging materials to share with your customers. Make them feel part of the familia.
  3. Increase your Digital Footprint – many of you are probably doing this already, but increase your on-line presence… be clear, what and where you’re sharing, informing and communicating. Because at the end of the day, you want to be Lean… in a Digital World.

Oh, and by the way… if you are on Insta and want to ‘hook up’ with me… in other words, connect… my username is @mrbalbansal… but I’ll warn you now…. It’s full of photo’s of cars, buildings… and food (which I had in Madrid!).

And…. finally, there’s many great people – who share some fantastic information and insights, but limit themselves to one platform. If expanded… think of the possibilities!

 

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Kicking the year off with CES 2018

What is CES Bal?

CES stands for the Consumer Electronics Show, and is held early January, every year…. where all the top folk who are interested in everything that is electronics (technology) related, gather for a few days…. oh… and, it’s usually held in Las Vegas.

Now, this year – is no different.

There’s various top speakers….

There’s various categories…. (for example, cars)

That’s right- anyone, anywhere, who’s doing something with regards to technology…. is there.

It’s great for people to share… collaborate and educate.

Now, as this goes on for a few days, and there’s all sorts of workshops, presentations, meetings, etc… taking place…. I’ve been doing my research, and found the top 3 items, what people are talking about (and the ones which have been winning awards!)

First up…. we have Sony, and their pet dog. Say ‘hello’ to Aibo, the pet robot dog…

Have a dog? Tired of washing it… picking up its poo….? Well, guess what… for a cool $1,800 you could have this robot dog.

Packed with various sensors on its back, chin, head, etc…. camera in it’s nose (to recognize family members) and OLED eyes…. it seems to be the perfect family pet to have! 2 hours of play… 3 hours of charge… and it even has a camera on it’s back to navigate it’s way to the charging station.

Oh, it’s also got 22 actuators… which means… it’s moving and shaking, in a very realistic manner – or at least, better than any previous models.

Sony are shipping this lovely creatures… can I call them that? – anyway, they’re being shipped with the price tag and a monthly subscription of $27. I personally don’t know the cost of owning a ‘real dog’, but… just the element of not having to pick up poo is warming to me….

Up next… Transportation… say hello to Bell Helicopter, the first flying taxi (in partnership with Uber).

That’s right – step into the first flying taxi.

Uber have been saying for a while – how they’ve been looking at Uber helicopters… Uber planes….. Uber Ice Cream vans…. (we’ll save that for another day). But it looks like their partnership with Bell is ringing in some alarming changes to the way we travel today.

Who needs roads anyway? So congested all the time! – forget that… hit me up to the skies. Bell, bought their cabin to the CES to show, the art of the possible and what they’ve been working on.

Matter of time these electronic helicopters will be cutting down our travel time….

Up next… we have The Wall! – no, not from that obstacle course show from TV… (Ninja Warrior)… but this is from Samsung.

A 146 inch… micro-LED modular built TV.

Built of lots of little micro-LED’s… allows Samsung to vary the size of the TV… So, throw out that little 32 inch you got in the corner of your living room, and start making space for The Wall!

No pricing yet from the fridge and washing machine manufacturer but we’ll soon be seeing these on the high street… or at least on their website, for on-line ordering.

There you go… my top 3 from the CES this year.

Usually, Vegas is sunny and lovely during Jan… I know, i’ve been… but this year, there’s been rain! – That’s right.. the Gods above us, have showered Vegas with some droplets… which have caused blackouts… parts of CES being closed, and therefore – people missing presentations and meetings.

It’s put a little ‘damper’ on the whole event… but with that out of the way, there’s plenty of great stuff going on… even having Alexa sing… ‘I can see clearly now… the rain has gone….’

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Start-ups can learn from Rak-Su…

Some of you, may have been viewing the X-Factor 2017 Final… I know I was… in fact, I do most years… it’s good entertainment for a cold Sunday evening.

And i’d like to take a moment to congratulate Rak-Su for winning the competition.

I’ll be honest. I’ve been watching it – from the moment they (Rak-Su) first walked into the audition room, to them performing when they’d won.

There’s been a few things I’ve picked up on… that I think, made them favourites quite early on… to win.

And these attributes, I thought, could be related to business… and especially start-ups. Because… start-ups are in a similar situation when they enter the market – or in X Factor words… ‘the audition room’.

There’s alot of competition. Everybody wants to win. Everyone is ‘new’.. and this is the start-up scene!

Everyone wants to be noticed. Everyone wants their product to stand out. Everyone wants investment.

So, there’s a lot of similarities between the X Factor Audition Room… and the Start-up scene. But what makes a small company, a start-up a success… well, let’s see what Rak-Su did, and if we can learn anything from them.

  1. Rak-Su sang their own song. 
    • Rarely done – especially in the previous years auditions, but in 2017 as a whole, many of the artists up’d their game, and sang their own songs.
    • Points for originality and points for standing out and not singing another Ed Sheeran cover.
    • What can we learn from this  – Well, it’s simple… stand out by making sure you are original. You’ll have a higher probability of being remembered and noticed, if you are doing something new…
  2. Rak-Su had their own style
    • When they performed, there was more rapping, subtle choreographed dance moves, each member had a unique offering, but the group performed very well together.
    • I’ve mentioned before, let’s move away from the Minimum Viable Product… you should be working on the Minimum Loveable Product.
    • What can we learn from this – Well it’s simple… don’t look around and copy.. .bring your own style and flavour to the game. Ensure you have the diversity and the subtle moves that will make you, a ‘MLP’.
  3. Rak-Su stood in a line.. and waited.
    • You got to be in it… to win it!
    • Just like all the other contestants, Rak-Su stood and queued in a line… got their numbers… and then auditioned. They followed the process… 6 chair challenge… live shows… etc… before being named as the winners.
    • What can we learn from this – Well it’s simple… have some patience. Go network, stand in a line and meet some interesting people. Investment, success and customers may not come over night… keep working towards the goal… and importantly… keep growing… keep learning. (By the way, Rak-Su were quickly able to have their songs on iTunes and it was charting quite high up – early on – due to the publicity via the show).

So there you go, a couple of things to think about from Rak-Su… & their journey to winning the competition.

Now… at the start, I did say… some folk may have not watched it… and I know, many folk from around the world – who read this blog – may have not had the opportunity to see Rak-Su.

For you guys.. here’s one of their performances. Enjoy.

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Bal's Friday Thought

Bal’s Friday Thought…

Go do it… don’t talk about it.

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iPhone X… Should I buy one, Bal?

That, is a great question.

Should I buy an iPhone X?

Before I answer that… you may recall my blog post about the comparison of the new iPhone X and how it was the same price as a BMW 3-series with beige interior. Obviously, I wasn’t comparing apples to apples…

So, back to the question – should you buy one?

Well, it depends on a number of factors. Main one being, do you really need it?

There’s plenty of reviewers out there – who review. And they’re the ones that would compare it against existing iPhone models, old iPhone models, and non-iPhone models. I also encourage folk to look at these reviews before making an informed decision.

The problem here is – whilst i’m sat in a very cloudy and fairly cold, London… I’ve not been able to get my hands on the latest iPhone X. Therefore, unable to conduct a review and share it with you on this blog. But that’s ok… that’s absolutely fine, because my friends at The Verge… were able to review and make a little video for you…

 

So, back to the question… should you buy one?

Really goes back to the point of, do you really need it? – with all it’s functionality and capabilities… do you need all of them? – if the answer is Yes – then go ahead, and buy one. If the answer is, not really.. then look at the iPhone 8… which i’m sure will serve all your current needs.

And I say that, because technology is advancing and so are needs of the customer. Take Augmented Reality for example, it’s come leaps and bounds in recent years… so much so, it’s in the hands of everyday folk, like you and me…. knowing what to do with it, is another thing.

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Is Innovation a ‘Buzzword’?

Recently, i’ve been seeing the word ‘Innovation’ randomly appear in people’s job title. 

At first I thought, that’s great – they’re innovating. When asking them for details, it’s more about they are looking at some new ‘things’. 

Asking them what process they are using, and they’re not sure. 

This then made me think, is the word ‘innovation’ a buzzword, that’s appearing everywhere – and attracts interest from a wide audience. It must be right? The more the word is used, along with other key words, will definitely attract interest. 

Aren’t we all looking for innovators? 

Aren’t we all looking for the next Steve Jobs?

Aren’t we all looking for the next Facebook?

So the word, Innovative/Innovation/Innovator etc… are being used more and more. Rightly or wrongly, they’ll definitely get the attention of people. 

 Moving on from people using it, I recently saw it being used for a renowned Indian singer artist’s tour name. Why it’s innovative, i’d love to know. 


I can understand shows like the below being called it.. 


By the way, i’m not promoting the above… it’s just an example, which i understand. 

Then there’s companies who are innovative… who have proven to be innovative, and have the right to use the word… 


Well… i’m sure we’ll be seeing more of the word in examples where we may have thought it couldn’t be used. 

Maybe, that’s innovation in itself.

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Toothbrush, tell me…

It’s true. In this connected world we live in and as more and more devices are becoming connected (and smart), I’m able to communicate with my toothbrush.

Its true. There’s an app available and you can pull all sorts of data and information.

It’s true. You can understand what’s going on with your brushing of the teeth and most importantly, what you should be doing to get the best results.

Its true. It’s Genius. It’s Genius 9000.