The technology industry strongly favors innovation. A company entering a market with a new and innovative product can leapfrog the competition. The iPhone, released in January 2007, definitely dominates the market today. Since the 2007 introduction Apple’s (News - Alert) stock price has increased more than 1000 percent and, earlier this year, the company became the first to exceed $800 billion in market capitalization.
Investors with unlucky timing, however, could have incurred considerable financial losses, as Apple definitely hit some speed bumps on its ride to the top. This is why financial advisors strongly recommend that you should only invest for the long term and only after careful research. I am not trying to offer financial investment advice but simply remind you that timing and research are also decisive factors when investing in new applications and services.
Research is the most critical and, analogous to buying a new car, test drives are essential. Take your time before making a decision, particularly if you are a reseller. Selling a recently purchased car may result in a short-term monetary loss, but driving your company and customers in the wrong direction will be much costlier. Test drives are particularly crucial if you are evaluating communications and security products. The customers are relying on your knowledge and expertise to safeguard their operations, so customers will be closely observing your every move.
All of the entertainment media hype regarding hacking and malware are making many people paranoid and distrustful of new technologies. Prospects with limited technical skills are the most vulnerable, as they may have difficulty separating fact from fiction. Therefore, resellers must be fully current on today’s emerging products to provide candid advice on the ideal solution for each prospect. The one- size-fits-all solution simply does not work in today’s anxious environment. Customers need to see your confidence and product knowledge on display during your sales presentation, so make sure your test drives have been thorough.
An added sales resource is the TMC (News - Alert) website (www.tmcnet.com). Customers can be assured of getting an accurate picture of today’s emerging products and services rather than sound bites intended to increase viewer anxiety and ratings. Regular site visits should be strongly encouraged. Notifying customers and prospects on upcoming TMC webinars that match their areas of interest will serve both as an educational tool and a reminder that you continually have them on your radar screen.
Max Schroeder (News - Alert) is Vice President Emeritus of FaxCore Inc. (www.faxcore.com) and managing director of the DPCF.
Edited by Erik Linask