A break from the business and marketing posts to update you about my new toy! I wrote a post on drones in the past but was actually given one by a client to test about a month ago. Since then I haven’t been off it. Heck I haven’t seen my family in weeks (that’s a joke) but these things are seriously addicting. I’ve played with ones like these before but never something as high quality as what I purchased. I started by reading the DJI PHANTOM 3 review on choseaquadcopter – This pretty much convinced me to go ahead and pick one up! And I’ve never looked back.
You’ve probably seen the model before online or even around the streets if you live in a popular or tech savvy area. Personally I haven’t yet seen a similar type. Below is a very by DronesETC that outlines the major reasons why I freckin love this thing (and why I haven’t got any work done in days haha!)
Applications to Business
There are obviously large scale applications to using drones for businesses. Huge brands can start delivering items directly to consumers on same day delivery, such as in extremely big cities like NY or London. But there are also implementations that small businesses can use to benefit from these little flyers. Most of the time people won’t even consider this, but below is an idea that I’ve thought of that has real world small business applications.
Assuming you don’t have the budget to buy 10+ quadcopters in one day, you now have an interesting decision. You need to purchase one and make your money back in a small period of time…. Now let’s assume you are stuck in traffic or a crowd of people and cannot see far ahead of you. Instead of pushing through the crowds or waiting for hours in traffic you can fly your drones up and check ahead to see what the issue is, and estimate how long its going to take to clear. Perfect…. But how’s that a business?
Well you can then release this data online, or through any social mediums to help people out. It’s unlikely that you will be able to charge for this data initially but long term, it’s 100% viable.
Another medium that I like the use of drones in is VR. Virtual Reality is huge at the moment with hundreds of thousands of VR headsets being sold worldwide. In the coming months this number is expected to double! Connecting a VR headset to a drone is a quick and easy process. Now we are just waiting for the game developers to give us something truly awesome using these mediums. In-game Pokemongo? That’s an awesome thought!
Last Updated 8th August 2016: In the last 12 months I’ve come out of my shell and began to actually use some technology! For the people who actually know me, this might seem totally unlike me, but it’s the truth!
I’m a businessman at heart and an investor too so although like Warren Buffet says “Stick to what you know.” I do want to begin to learn the dynamics behind the tech industry and what makes all these apps and start-ups from Silicon Valley so profitable. Although this is a double edged sword because Silicon Valley has been known to throw up some terrible business start-ups for investors like myself to get into. The trick to get around this is to not invest too early. Don’t go for the business to make you billions, stick with what is already working and invest into that.
Anyway, unlike most people I am a bit behind, but I think this actually lets me have an advantage when it comes to making money through investing. I don’t run into tech businesses that I don’t understand and If I don’t understand them, then its likely to general public (the real market makers) don’t get it either and won’t pay good money to have it/that. For example I understand Tesla, Uber and Airbnb and they are all completely tech based and successful as anything!
But anything I will get back on topic. Technology will have a huge impact on investing and here is why.
Technology speeds up life
More than this, tech advances improves everyone’s quality of life for 2 reasons. The first is you have more free time. Let’s take investing for a second, imagine there was a programme that gave me all the research I needed in one simple app or on a website that I could simply pay a subscription and have access to all this data… Well they are coming and sooner than you might think. But the second reason why this matter is because of the increased free time and increased speed of trading I can actually make better trades and generate more profitable ones. This means I have more money!!
Imagine that?! You have more time and more money! – Assuming the markets don’t collapse in the next 10 years this is where we are all heading and It’s going to be fun!
An example of Technological Advancements in Investing
If you don’t already know there have been a lot of changes in the automotive industry over the past 10 years. We mentioned Tesla earlier which is probably the biggest one of all time (since Henry Ford introduced the motor engine.) But one element that has been changing rapidly over the past 5-7 years is fuel injection in supercars. Now I’m a bit of a petrol head as are most of my friends and when it comes to supercars I could talk for hours.
But anyway, fuel injection is an industry I looked at in 2010 and invested in a number of small companies that were producing very high quality systems to help supercars accelerate faster. Boring sub-niche but extremely profitable for myself and anyone else who saw the niche. My point is this. Sometimes people think about tech advancements and want to invest in bio-medical or space travel or snapchat, but there is something you should always ask yourself.
Will this be a fad? If the answer is yes then obviously avoid it. A phrase I love when it comes to investing is: “Boring businesses make Billionaires!” – Because nobody wants to make a business that is seriously boring, everyone wants the next shiny object, and that, that can be what separates you from the investors that only make 10-20% a year, when you are making 50% year on year.
Hi and welcome to the site. GAN net is my (Harry) website talking about all things investing, finance and business. I also occasionally talk about technology and marketing as those are 2 topics i have recently started researching! Hope you enjoy the site!