Important note :
We all know about the Internet succsess stories such as Google , eBay , and Amazon . I would like to point out here that these companies used the Internet and technology to “invent” themselves , not “reinvent” – an important distinction . So , you should use technology to help you do what you already been doing . Avoid technology that tries to reinvent you .
A good example of technology to avoid is one that promises the “get rich fast” solution . In today’s environment , no book would be completed without at least a state -of-the-market on technology . The trick is to use technology’s strengths : it is particularly good at capturing and organizing information and then storing that information for long periods of time . Technology ( and software in particular ) has created great efficiencies and productivity for all of us . Consumers can research products , health care issues , and the latest news over the Internet faster than ever . Businesses can do their job functions easier , faster , and better . Investors can track their investments and back up their data daily . However , the dirty little secret about technology is that there have been poor technologies released that promised castles in the sky but never worked . These empty promises consumed millions of dollars and hours of time but never provided anything useful . So how do you find the good technology and avoid the bad without becoming a technologist ? As I already said , you have to follow the simple rule : Use technology to help you do what you should already be doing today . Avoid technology that tries to reinvent you . the great lesson from history was the promise of the dot-com . The idea was simple : convert your business to an “e” business : eBanking , eRetail , eLearning , eShopping , eReal Estate , etc . Most companies that abandoned their past business models and success for the promise of the pure dot-com model were soon out of business .So again , when considering technology for your investment , choose and use solutions that make you better at what you already been doing .
