It’s safe to say that we live in a world dominated by technology. With advancements happening at an exponential rate across every industry, it comes at no surprise when I say that technology isn’t going away. Now, I know where your mind is going – “here we go, the whole please embrace technology now or we are coming for you” pitch. But, that’s not exactly the angle I’d like to take here.
So, how is technology disrupting the world we live in? As you’ve probably noticed, the key word here is disrupting. Not necessarily a positive undertone by any means (especially from someone who’s a part of a software development team). But it’s true. Arguably, technology’s main purpose is to compliment and improve our lives. However, if we didn’t throw in the idea of disruption, then I’d argue that technology wouldn’t improve at the rate it has – let alone have the impact it’s had.
Look at Amazon, which originally started as a marketplace for books. Hardly disruptive back then by any means, but it started as a way to improve the lives of those who wanted easier access to books. Now, flash-forward to 2018 and Amazon has fundamentally revolutionized the way the world sees commerce.
It’s almost impossible to argue the fact that they’ve single-handedly caused a huge disruption within commerce itself, affecting almost every brick-and-mortar store there is. Those companies that resisted the idea of embracing technology early on are now a part of history (Rest in peace, Blockbuster, Borders Books, and Toys-R-Us).
Like I eluded to earlier, it’s not all doom-and-gloom from my perspective. Yes, society dictates and forces us to use technology, but to truly embrace it you must understand the motive behind why software development teams like ours do what we do.
Trust me, it’s not that scary. Ultimately, our whole mantra is to create as much value as possible to those that we build solutions for – our clients. Wait, does this sound familiar? Trying to create the best possible product or solution for a client. It’s exactly what a financial advisor does every single day. What if we paused here and switched our mindset?
We can throw our arms up, throw a hissy fit, and tell the world that we hate that technology is disrupting us all we want. But really, it’s just a mindset. Let’s look at our software development team here at Financial Independence Group: Our primary goal is to deliver the most value to our advisors who, in turn, are trying to create as much value as possible to their client. It’s a team effort for a common goal.
Now, I get it – embracing programs like e-Apps, CRMs, and marketing trackers disrupts a process you’ve done your entire career and are extremely successful with it. But, how are you improving? And most importantly, how are you improving the lives of your clients?
The goal of these initiatives is to help financial advisors possess the tools to better improve the engagement with their clients. Engagement includes but isn’t limited to communication, access to information, and quality of advice. Every decision you make for your practice surrounds this paradigm. This should include technology as well. Too many times, we see the adoption of technology platforms because “we were told to” or “because everyone else does”. If there’s anything you take from this article, it’s this: Only implement technology where you see it creating value to your practice and clients – and understand why you’re taking the steps you are.
Easier said than done, though. This requires you to understand the platform you’re looking to implement. Do research, read reviews, and sign up for trials. Do whatever it takes for you to get a core understanding on how a specific platform will enhance your business. Embrace an application because you want to embrace it, knowing that it’ll enhance the experience for you and your clients. Don’t just pick a technology because someone tells you to. Know that it will work.
As you continue your search, you’ll begin to see something interesting: The more you know about a technology platform, the more exciting it becomes. Not only about the application itself, but about the possibilities that technology has.
It allows us to have whatever we want, whenever we want it, right at our fingertips. Could you imagine a world where you have all the information you need for a client right there, in real-time? What about a world where insurance applications take seconds, not weeks to approve? How about being told when and how to communicate with a prospect?
The list of possibilities is endless. Disruptive? Yes. Full of change? Definitely. Exciting? Heck yeah. Interestingly, a lot of articles you read about technology today conclude by stating that “it’s not a matter of if, but when.” I’d argue that the “when” has passed. Our space has moved into a whole new era.
You’re now living in an industry that has, and is, fully embracing technology. Disruption is here. Are you ready?