Lesson 8: Technology
I explained earlier that technology is a huge growth area because it will empower individuals more and more. Of course it's been doing so for the last 250 years, and those involved at the beginning of any meaningful technology have reaped huge rewards. So if you've got a chance to be on the ground floor of any big new technology, you'll want to look closely.
Today, I believe cell phones, tablets, and apps are at the heart of some big opportunities, along with any technologies involved with my other trend areas -- financial (including cryptocurrency), green living, and health.
I don't need to go very far into this -- it's pretty clear that people will spend money on technology because of how it improves their quality of life -- it typically allows us to do more for less.
If anything, people spend MORE on technology during stressful economic times because it allows so much for so little. Unlike eating out, buying expensive clothes, buying expensive cars, etc. ... those things suffer with a tough economy. But technology thrives. Especially think of that in terms of "apps," where 99 cents can buy you countless hours of entertainment.
On that note, keep in mind my tips to finding a good company to work with. No matter what, VALUE is a key that consumers are looking for, and if you can offer them an honest value that competes with the retail marketplace, you have an opportunity to make sales; if you can work with a technology that beats the pants off the retail marketplace, you could do extremely well for yourself.