We are entering a new era of business. Over the next 15 years, we will see more change and disruption than over the past 50 years.
This is because of 4 factors that are driving change at warp speed over from 2015-2030:
1. The Baby-Boomers are turning 70: The baby boom was 1946-1964 so the population spike that arrived in 1946 are the same people who turn 70 in 2016. That’s a lot of people putting downward pressure on markets and upward pressure on Government budgets.
2. The Millennial Generation seek access over ownership: The Millennial Generation outnumbers the Boomers but they have a different mindset. They don’t buy cars, houses or investments the same way the last 3 generations did. They settle down later, change jobs frequently and are less consumer orientated (except for phones).
3. Tech is now replacing jobs rather than making people more efficient: Technology is putting 47% of all jobs at risk of full-automation over the next 15 years. There’s a theory that displaced workers find new and important work to do but this usually takes decades and we’re talking about almost half the workers needing to find something new.
4. Government austerity is becoming the norm: Governments were built around geographical control of money but now money and the rich flow around the world effortlessly. This makes companies and high earners harder to tax. Until this is fixed, Governments will be left caring for Baby-Boomers with a dwindling taxation income.
If you’re thinking it’s business as usual in the coming years, think again. You’ll need to adopt a new, bold strategy that’s right for the times we are in.
