Whether it is a revolutionary product that changes the way we do business or an event that immediately forces business to comply to the new normal, if you can relax and assess the situation, you may find opportunities when others see disaster or vulnerabilities.
Time to put on your entrepreneurial foresight glasses and get creative.
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Transcript:
Podcast 66 – Opportunities Today COVID19
Jim Edwards: Hey guys, we are live, and today we’re doing something fun…
This is the Sales Copywriting And Content Marketing Hacks Podcast episode 66, or 67 Stew can’t remember which one it is…
So I put that in there…
But today we are talking about how COVID-19 is going to revolutionize our lives forever and moving forward…
And Stew, you were actually inspired by a cartoon that I reposted yesterday or that I shared yesterday that I found from the MarkeToonist,
Stew Smith: That’s a good one.
Jim Edwards: Do you have that pulled up…
Do you have that where you can show it real quick or?
Or I can show it real quick?
Yeah, I’ll just pull up…
I’ll pull up my pay.
Stew Smith: Oh, I got it, I got it…
Jim Edwards: Okay, show it on your screen then…
That’s fine…
All right…
Let’s do it…
I’ve got it too…
But there you go.
Stew Smith: So, yes.
Jim Edwards: I love that Tom Fishburne stuff at marketing…
dot com you can subscribe and get those, but digital transformation is years away…
I don’t see our company having to change anytime soon…
And then here comes COVID-19.
Wack.
Stew Smith: Like a wrecking ball.
Jim Edwards: And so, we wanted to talk today just about some of the ways that we think it’s going to change stuff for business personal everything moving forward…
And I don’t know if you want to go first do or how you want to do this or what your thoughts are, but I’ve got some thoughts.
Stew Smith: Let me do this…
Let me open it up with two things that happen…
Throughout history…
You have a revolutionary product or change that completely changes everything from the Industrial Revolution, Technology revolution…
Let’s talk about it…
Jim Edwards: Things like things like the steam engine or cotton gin or the microchip
Stew Smith: Printing press.
Jim Edwards: Domino’s Pizza
Stew Smith: Yeah, those are revolutionary products that change everything…
But it also causes a disruption and things like 911
Jim Edwards: Yeah.
Stew Smith: It changed everything. Our world is different even though that’s not a product or anything or an event, an event just like this COVID-19 is an event, and is it a complete disruption?
Or will it create revolutionary change?
And so whenever you have revolutionary change it there is always a disruption that occurs.
So, for instance, let’s think about the iPhone, obviously a revolutionary product, it changed the way you and I do business way we communicate, changes our social lives completely.
It was kind of gradual.
Jim Edwards: That some of these things are, they’re immediate, some are immediate, and some are gradual, and they pick up speed over time, but this is making me think of the old thing of an airplane, where an airplane starting right here, but if you change by six degrees, once you get from California to New York out with Hawaii if you’re off by six degrees, you’ve run into Russia…
You and that’s I think part of what’s going on for some people…
It’s a radical shift right now for other people.
It’s a, it’s a pop out of orbit that over the years is going to result in being in a totally different place as well.
Stew Smith: Oh, yeah, absolutely.
Well, think about it this way.
So the iPhone has made a lot of people rich completely by just having an app…
So, for instance, the hotel industry, the largest hotel with the most hotel rooms, doesn’t even own a hotel.
They have an app.
The largest taxi service doesn’t own cars.
They have an app, right.
So, there’s a disruption that occurs somewhere whenever you have these changes like this.
And so, our question was, where do you see that change occurring?
And disruption.
So, for instance, what we’re all doing now is we may be using delivery services more because you don’t feel like going shopping.
Jim Edwards: Or you’re not allowed to.
It’s against the law to leave your house.
Stew Smith: Yeah.
Or you’re no longer working at a place of work.
So, you’re working from home.
So now you’ve equipped your home with this home office.
But how where does that disrupt commercial real estate?
Now?
Will more companies say what, I guess we really don’t need this building anymore.
We’re just going to work from home.
Jim Edwards: Right?
Oh, and by the way, we can use COVID as an excuse to declare bankruptcy, and we can get out of our lease.
Stew Smith: Now, one thing I have seen with two kids that are still in school is online classes.
Yeah, they are doing I mean, that has been something that is already in the process of evolving, but now it has boom, you…
You have no choice.
You are doing online classes if you’re going to go to school.
Jim Edwards: Yeah…
Stew Smith: So, what were some other ones that you may see that’s kind of what this question is bringing on?
Jim Edwards: Well, the big one thinking about telecommuting, tele-training, tele-meetings…
I’m a) it’s mainstream they talk about all the time…
Stew Smith: Yes.
Jim Edwards: b) it’s causing companies to massively improve their infrastructure and underlying stuff so that they can deal with bigger numbers…
You’re also seeing a lot of discussion now about when we talk about infrastructure of going the last mile, where it’s out in the country…
There’s still a good percentage of people in the US and around the world that do not have that access to reliable high-speed internet and finding ways to bridge that last mile because it’s like power, we take power for granted, but there were people in the 50s…
And even in the 60s who didn’t have electricity because they were part of that last mile, then they finally got to them with rural cooperatives and things like that…
But bridging that last mile, so everybody’s plugged in because the online economy and online connectivity is part of the brick and mortar economic system…
It’s unavoidable…
Now…
I think another thing to look at though, when you look at that is the hardware that it takes to do that too…
I think you’re going to see like this, I use a Blue Yeti mic…
I betcha their sales are going through the frickin roof…
People who create all of the things that you need to be able to do it really good webcams…
I mean and switchers and other stuff where people are getting more sophisticated like I used to have just a webcam built into my computer…
Now I’ve got 123 webcams that I can use to do a multi-cam shoot…
All kinds of things are going to happen with the equipment to make it so that you can have a highly effective home studio…
And one of the things that will drive that also is the fact that now TV news it used to be TV news tv talk shows was everybody had to go to a studio, you had a set you had a studio audience you had this thing that made you legit…
Now, you see people like whatever news channel you’re watching, there might be one person in the studio, and everybody else is broadcasting from home, and it’s hilarious to see what crap job professionals in media are doing as far as their background…
Oh, camera angle, they’re sitting quality, all the things that we have kind of figured out they haven’t figured out yet.
So, we’re now honestly on the same technological par with people in the mainstream media, and in some cases, we’re ahead of them as far as our ability to deliver and do stuff.
And so we need to really capitalize that, but you’re going to see in my opinion a lot of people moving away from the mainstream media and little fiefdoms and experts and people really rising to the top it’s not going to, with…
Do you have Roku?
Do you know what a Roku is.
Stew Smith: Nope,
Jim Edwards: Okay, well, there you go…
Roku is a set-top that plugs in the internet that you can stream anything anywhere in the world…
And you can get everything from Netflix to amazon video to specialized chat…
I mean, it’s how it’s how you turn any TV into a Smart TV, but it’s more than that because you can actually…
I don’t know exactly how to do it, but you can get your own Roku channel, you can all these…
It’s going to get more and more dispersed, and so your ability to broadcast quality High Definition, high-quality video from your desk is going to make a huge difference and create massive opportunities for people…
As their as it just becomes more prevalent because it’s like, I’m looking at this person that used to go in the studio, and now they’re sitting at home, they’re sitting there in the underwear.
Stew Smith: doing their own makeup.
You badly.
Yeah, yeah, exactly.
Yeah,
Jim Edwards: that’s why I don’t wear it…
I just say, I just it is what it is…
I do
Stew Smith: I have some blush over here…
Jim Edwards: I know you do.
Um, I think the other thing with the I just pinch my cheeks like this…
Now I got that I think what you said about delivery services, that there are a lot of specialized delivery services that are really taking off right now that are going to take the place of a specialty store that you would go to.
Because what’s happening is people are getting used to okay order it today…
It’ll be here in two days.
They’re able to delay gratification by a couple days because they have to.
And so like, there’s a site called beverage universe.
Any kind of soda delivered right to your door?
Well, you can’t get a soda at that thing…
If you like a specialized kind of diet soda or something…
Or just you want some soda.
You can go to beverage universe.com or beverages direct.
And they’re all these places that we like we started getting these things.
It’s called…
It’s not called the leftovers…
It’s ugly…
It’s basically ugly produce…
Oh, yeah, I’ve seen that…
It’s amazing, dude, it’s ugly pieces, but there’s nothing wrong with it…
It’s just it doesn’t wouldn’t look good in the pyramid of tomatoes.
Stew Smith: Right?
Jim Edwards: We got it.
Stew Smith: Yeah, when you think about that basically that is probably some farm, taking out the middleman…
Jim Edwards: Oh, yeah…
Stew Smith: And doing the distribution themselves…
And that’s where delivery services can really make an impact and be the distributor to the individual versus
Jim Edwards: direct to the consumer. Yeah, that’s really mad that
Stew Smith: that is the future of farming, I betcha…
Jim Edwards: think about all the other things now when people are sitting at home, and they have to figure out how to get the things, the services, the goods, the whatever, that they can’t get it the way they used to…
Going down to the middleman…
The grocery stores the middleman.
Stew Smith: Yeah…
Jim Edwards: Walmart’s the middleman, electronic store, like Best Buy, is the middleman…
Sure…
And I think that if you think about anywhere if you’re analyzing anything, who’s the middleman?
And is the middleman a location?
Or is the middleman an app, just like you said, is the middleman a site?
Who is the middleman?
And is that middleman going to excuse me…
The middle person who’s the middle person?
Um, the middle being.
Stew Smith: Yeah.
Jim Edwards: In this whole thing…
And is that middleman either is this going to make that stronger?
Or is it going to make it weaker or not even necessary anymore because people don’t need to do it?
Right…
We went to the grocery store today to pick up some stuff that we couldn’t get any other way, but man, we were in and out, it was not screwing around…
It wasn’t a social thing.
It wasn’t a recreational thing.
It was a holy crap. Get it, it was dodging the germs down the island, …
And it just, that’s the kind of thing that is creating opportunities…
I personally think that Netflix, and maybe they already do this, but I can’t figure out how to do it.
But I think if there was a video service, where you could tee up a movie, and also incorporate,
Like, if you and I wanted to watch a movie like you and I were bros, and it was like, hey, Stew let’s watch Red Dawn this afternoon at three o’clock.
We’ll kickback…
I can see you watching it…
You can see me watching it…
We’re watching it together, and we can holler at the screen and talk smack back and forth.
I think that kind of a thing could really kick ass.
Maybe not with you and me, but like I really miss my grandsons.
If Disney plus had a way for us to watch a movie together, and I knew they were watching it, and I was watching it at the same time, and we were like, yeah, and even just seeing them watching it while I was watching, even if we weren’t talking, I think would be amazing…
And maybe their son is telling me in the comments if there’s a function or something that already does that, but I just think that would be really, really, really super cool.
And I’m probably not alone…
And if somebody invented that I don’t even know how watch parties work on Facebook or nothing…
But I mean, you see what I mean?
Stew Smith: would be that’d be almost like your own little mystery science theater…
Do you remember that?
Jim Edwards: Yeah, that was Yeah,
Stew Smith: That was some hilarious stuff.
Jim Edwards: Twilight Zone was really good…
And then they the new Twilight Zone and the third Twilight Zone and all that stuff…
So, I just I, I’ve been thinking about that a lot lately, not enough to try and solve it…
I just want somebody to figure it out…
Yeah, hotwire it.
But I think that would be a lot of fun.
So, I just, I think the obvious stuff is telecom, delivery services and really thinking about how all the stuff that we used to have to do in person…
How could that be done more efficiently in over like zoom or what we’re doing now?
But also, then, I don’t know if this is true or not…
But I know I’ve been feeling about a lot like this lately…
I heard you can go for three days without water three, something without shelter three weeks without food,
But you can only go about 30 days without some sort of human companionship before you start losing your stuff.
And I think where we’re also going to have to figure. You’re out how to have meaningful interactions with people in the real world when this is done too…
With a not let all this going to video and telecommunications and stuff…
How can we have meaningful in-person contact with the people that we care about?
And also, with people, we don’t know so we can expand our physical circle of friends,
Because of friends on Facebook, 99.99%, not your real friends.
I wouldn’t let anybody they wouldn’t let me stay at their house.
You can’t stay at my house.
That ain’t how it works, you’re acquaintances.
But how to facilitate meaningful in-person contact with people.
I think there is something else that we’re going to have to refigure out as a result of this.
Stew Smith: Yeah, regardless, I mean, anytime there is an event like this or a Technology boom like this, it causes a disruption.
Obviously, in business and schooling and just the future, the way we do things…
But there’s also when there is a disruption, there’s also vulnerabilities and opportunities thrown in there…
And you have to look at all of these as, where’s your vulnerabilities first, but then also, where are your opportunities second, so you can fix any vulnerabilities and then react to potential opportunities that are open to you.
And like Jim said, looking at that person in the middle of business, is there a vulnerability there for an entrepreneur to come in and have some of that market share?
Right, without completely disrupting the world.
But yeah, there’s going to be a lot of changes going on between delivery services, education Home Gym markets probably going to increase versus going to a big gym, home office equipment.
It’s kind of like when the Gold Rush occurred…
People made a lot of money selling shovels and picks.
Jim Edwards: and liquor.
Stew Smith: and that changed travel I mean people started traveling all the way across the country,
Jim Edwards: and just like the internet and the interstate highway system changed everything.
Stew Smith: Yeah, yes, government admin will probably change a bit, I would imagine. Religion last things everything so well…
Jim Edwards: And one last thing to talk about, how do you think this is going to change people’s behavior and attitudes and beliefs at something else and will it ever go back, I remember…
911 was a terrible was a terrible thing…
And I remember, though, that we all came together as a country better than I’ve ever seen in my entire lifetime.
That was people flew the flag.
People were kind they everybody, we were in this together.
And over the years, that attitude has fractured, and that’s why we don’t talk about politics.
We only talk about puppies.
Stew Smith: Yep…
Jim Edwards: But I hope and pray that we get some out of this where people feel compassion and empathy towards their fellow man, and this lasts…
This feeling of helping others.
I think we’re going to see I think one thing we’ll see is if even a fraction that people can keep the habit of hand cleaning and no face touching…
And not getting up in people’s grill, I think you will see an effect of less disease moving forward, less communicable disease for a while, and I hope that sticks…
Stew Smith: Yeah, I’m a clean freak now…
Yeah, I mean, I was never. I mean, I washed my hands before ate, but it wasn’t something I did every time I walked outside and inside.
Jim Edwards: yeah, so there’s going to be that’s going to be one of those “six degrees” effects that I think is going to happen over the years as well so very interesting you’re a deep-thinking dude.
Stew Smith: Well, thank you. I’m not always just this pretty face.
Jim Edwards: I know with talking about disruption and stuff.
You’re absolutely right, so we shall see.
So appreciate you guys and hope you enjoy this we went live to do the podcast episode if you are not a member of the Jim Edwards Method Premium you should be!
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Stew absolutely changed my life as far as fitness I’ve been working with Steve now for what six years six, seven…
Stew Smith: Yeah…
Jim Edwards: Well, Stu helped me get in the best shape of my life and actually has me in the point now where I look forward to doing workouts that other people would say you did
Stew Smith: You’re crazy.
Jim Edwards: so that I get that a lot.
Stew Smith: But here’s something else too.
If you’re not used to seeing these podcasts, which, we’re doing it live here on Jim’s Facebook page…
You can get them all on YouTube…
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Also, on Spotify, Apple podcasts Google Play.
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So, there are over 60 of these podcasts that you can find and check them out because Jim really gets into some really helpful business information for you.
Jim Edwards: Awesome, appreciate it…
I appreciate you guys, everybody.
Have a wonderful day, and we will talk to you soon.
Bye, everybody.
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