I’m one of those people who avoids watching new TV series in the beginning. Yes, you can be part of the buzz around the watercooler if you saw what happened on the hot new show last night, but all too often I get hooked on a show only to see it get cancelled midway through season two. Not only am I disappointed, but I’m left hanging as to what happened to my favorite characters. Now, I wait until a show is a few seasons old. This gives me the comfort of knowing that it’s unlikely to be unceremoniously canceled without benefit of a conclusion episode and it allows me to watch multiple episodes back to back without waiting weeks in between. Sometimes it’s good to be late to the party! It's part of why we watched SaaS system develop, took our time, and then delivered the world's best free inventory software all while taking our time. When you pause and observe, you learn.
In the past we’ve talked about timing and how important it is to not wait too long to try new technologies. We were not the first free inventory solution, but we are the best free inventory software around - because we waited and adapted to lessons learned. If you missed our piece on cloud computing click here.
If you’re familiar with the technology adoption life cycle you know that there are five categories:
- Innovators - those who create the new technologies
- Early adopters - first in line to try something new
- Early majority - quick to jump on the bandwagon
- Late majority - waits a bit, but they follow the crowd
- Laggards - extremely conservative, wait so long that the new stuff is old before they try it
From the time that we are children, we exhibit a natural inclination towards one of these categories. Some kids are so imaginative that they can turn random things around the house into a toy or game. Others are always ready to try something new. There are those who aren’t interested until they see a group of friends trying it, and those who wait to get the first group’s opinion before they join in. Then there are those kids who are very hesitant to try something new, preferring instead to just stick with the familiar.
Of course, in business the focus is on innovation. If you aren’t the one creating the new technologies the goal is often to remain on the cutting edge - an early adopter or part of the early majority. Just like with TV viewing, there are some benefits to taking a wait and see approach before trying the hot new technology.
- Price - new technology can be extremely pricey as innovators try to recoup their development costs
- Risk - if competing technologies hit the market at the same time, how can you be sure that the one you choose will become the prevailing choice? (VHS vs. Beta, HD DVD vs BluRay)
- More Refined/more reliable product - In the rush to get a product to market, offerings often have a few bugs when they are first released. Additional product testing results in better, more robust versions down the line.
If you’re not an early adopter or early majority person by nature, don’t beat yourself up over it. There are benefits to being a late majority type. You will likely get a great product at a lower price without risk of it being made obsolete by an incompatible technology once so many others have invested in it.
Of course, if you’re still waiting to give Stockpile a try we’d like to give you a nudge. There's a reason folks are buzzing about the world's best free inventory software. You’ll be amazed by how our inventory management solution can impact your small business. Plus, we’ve removed any risk by making it free. What have you got to lose? Try Stockpile today!
