Business-Building Action from Terry Brock
A few years ago I was attending the Consumer Electronics Show where I saw an amazing technology demonstrated. I’ve always had a love of learning and particularly learning new languages to communicate better. At this demonstration I was with a few other journalists and we saw a woman speak in fluent Spanish into her laptop computer. After a few minutes, she concluded, pressed a button on the laptop and something miraculous happened — at least it was miraculous then.
Her speech was transcribed, voice to text. Then it was translated into English. Those steps alone were pretty amazing. However, the next step took our breath away — which is saying a lot for a room filled with us jaded journalists. We heard her words spoken to us in English! All of this was possible with a software program that cost, at that time, $2,500.
Think about that. Previously, it would have required a live human being to interpret and translate (2 separate functions). Those highly-trained people cost a lot more than $2,500. Now, technology gave us the means to connect with others in other cultures quickly and much cheaper than ever. The company that created this technology was called SpeechGear from Minnesota.
Roll it forward to 2010. My assistant, Natalya, showed me a technology that did a similar function on my new iPad. It is called Jibbigo. With this app (runs on iPad and iPhone) I was able to speak into the device in English, my words were transcribed in English, then translated into Spanish and then spoken in Spanish! This was doing the same thing (only with better recognition) that required a fully-powered laptop just a few years before.
Oh, and the cost of the Jibbigo system? $25. The price had dropped from $2,500 to $25 in just a couple of years! Also it was more accurate and ran on much smaller, more easily carried devices. I used Jibbigo extensively on a trip to Panama last year translating speech between myself and cab drivers, restaurant workers, office workers and others. What a dream come true. Yes, $25 was a lot for an app — but well worth it.
Now roll it forward to today. I’m using my iPhone 4 and Google’s Translator. Not only does it do Spanish translation as done with the SpeechGear and Jibbigo technology, but it handles many other languages. All of this on my iPhone — and I added it, of course, to my iPad.
And the cost for the Google Translater app?
Free!
How would you feel if you ran (and invested thousands of dollars) into SpeechGear or Jibbigo? You invest all that time, money and effort into a technology that is really useful, very important and people want it. Then someone comes along and offers a better version — for free!!
Welcome to my planet.
It is tough as technology costs less and less — at least it is tough for the makers. For us consumers, this is great! But what are you and I to do about a frantically-changing landscape like this? Well, I don’t know all the answers but here are a few guidelines that might help:
- Realize technology is temporary. It is changing fast and you can’t “rest on your laurels.” That original SpeechGear demo was outstanding. Today — just a few years later — I can do even more on a small iPhone — for free! This is nice for consumers, but not so nice for those who developed the initially-expensive technology.
- Adapt quickly. You have to adapt fast in a marketplace that is moving at an accelerated pace.
- Don’t get locked into any one product or technology. Don’t put all your eggs into one technology. Move quickly as the market changes quickly.
- Focus on serving customers, not being enamored with any one technology. Remember that in business you want delighted, happy customers, not just “shiny new object” technologies. It is easy to be deceived. However, remember that it is and always will be people that pay your salary — not machines and technology!
- Be ready, willing and able to move to new technologies as the market changes. It will change and is doing it now as you read this. Stay abreast of where it is moving and watch for future trends.
Yes, it can hurt when you are a SpeechGear (wonderful people at that company, by the way). It can sting a lot when you’re a Jibbigo who designs incredibly wonderful apps that are quickly outdone by a competitor’s free product. However, if you can learn to be agile, flexible and always hunting for something new to please customers, you’ll be much farther ahead.
Copyright (c) 2011, Terry Brock and Achievement Systems, Inc. Terry Brock is an international marketing coach and professional speaker who works with businesses to generate profitable results. He can be reached by e-mail at terry@terrybrock.com or through his website at www.terrybrock.com. Join the Twitter adventure with Terry through his Twitter address: @TerryBrock. Join Terry’s Facebook Fan Page at: http://www.facebook.com/SpeakerTerryBrock
