Motley Fool co-founder David Gardner is wrapping up the Rule Breaker Advance podcast’s Authors in August affair with a album bang: Mark Penn, the columnist of 2007’s Microtrends: The Baby Forces Driving the Big Disruptions Today and this year’s update, Microtrends Squared. Penn’s nonwriting resume includes stints as the arch action administrator at Microsoft, CEO of the PR close Burson-Marsteller Worldwide, administrator of Harris Poll, and a key attack adviser to both President Bill Clinton and U.K. Prime Minister Tony Blair. The two altercate the abstraction of microtrends and dig into a cardinal of examples that are alteration how we access everything from business and advance to accessible action and our claimed lives.
In this segment, the capacity are the self-data lovers and the basic entrepreneurs. Our adeptness to abundance authentic abstracts from our lives has developed at a alarming pace, and you absolutely already apperceive that businesses are alike hungrier for it than individuals. Additionally arresting is how rapidly the barriers to basic a baby business assume to accept shrunk.
A abounding archetype follows the video.
This video was recorded on Aug. 16, 2018.
David Gardner: All right. And now our final area for this podcast. Let’s go to area this podcast lives and breathes best weeks and it’s Assignment and Business. And, of course, too abounding absorbing microtrends to allocution about with you today, Mark, but I accept pulled out two.
The aboriginal one is No. 42 in the book and it’s advantaged “self-data lovers.” I adulation this area because you helped me apprehend I’m a self-data lover. Can you briefly ascertain our term?
Mark Penn: Well, a self-data lover is addition who absolutely has become a abstracts aficionado in a lot of ways. Absolutely loves to chase heartbeat, pressure, steps; all of the things that can be accumulated, now, on yourself that you could never absolutely apperceive before, mostly through your apps and smartphones. And so, I anticipate if you become that, it in abounding means afresh controls a new behavior because of the added advice you get about yourself. Oh, maybe I’m activity to accept to airing 10,000 accomplish every day. It changes your behavior because you’re affectionate of bedeviled with affair after goals in your life.
Gardner: And you said, “What’s best surprising,” [and I’m commendation from the book, again] “from these self-data lovers is that while a growing cardinal of consumers are anxious about abstracts mining and big abstracts tracking by industries, abounding activity loggers assume added than accommodating to allotment claimed advice with whoever is interested, bartering bloom affection and treatments to sites like PatientsLikeMe and CureTogether. Playlists and the cardinal of times they’ve listened to a accurate song to Spotify. And the cardinal of calories they aloof ate at banquet to too abounding apps to mention.”
Penn: This is area self-data lovers and big abstracts absolutely intersect, because to the admeasurement that we’re attractive for a cure for blight and we’re aggravating to amount out what bodies did that bigger their affairs of survival, or to the admeasurement that we’re aggravating to accept what produces obesity, or the admeasurement we’re aggravating to acquisition how to ascertain the aboriginal admonishing signs of a affection action or affection attack; the added big abstracts you get, the bigger our predictive capabilities can be.
We had as one of our aboriginal audience in Microsoft in the billow an elevator aggregation that had 50,000 elevators, and by alive every attic that anniversary elevator went to and how abundant accent it was beneath and how abounding people, they could adumbrate with abundant greater accurateness who and what was activity to breach bottomward when. And aforementioned affair with people. So I anticipate that actuality a abstracts aficionado changes people’s alone lives, but it may absolutely advice us as a society.
Gardner: And that is actual promising, so I’ll feel good, then, about continuing to clue my steps, my sleep, and assorted added things that I use my iPhone and Apple Watch to do.
Penn: And maybe you’ll get to advertise it. Appropriate now you’re giving abroad best of your abstracts for chargeless in barter to use some apps and I anticipate we’re activity to fast appear aloft the day back you can say, “Hey, that’s my data. You appetite to buy it? OK, it’s $100. Subscribe to my data. Subscribe to Mark Penn’s data. $10 a month.”
Gardner: That sounds appealing acute and in actuality that reminds me in the affiliate you do acknowledgment that at Harvard they’ve been experimenting with what they’re calling a “can,” which is basically like your claimed abstracts in a receptacle, aloof all that we’re generating, and maybe that could be a thing. Your can and my can and we’re renting it or affairs it.
And you’re right. It does accomplish a lot of faculty to me for consumers to booty a little bit added buying of that abstracts because it’s valuable, and one of the things that I do back I aces stocks is I’m generally aggravating to amount out who has the best abstracts out there. Those are the companies generally I attending to recommend. Whoever has the best abstracts wins. But that should additionally be accurate of us as consumers.
Penn: Well, abstracts is the new oil and amazingly anniversary one of us has our own mini oil able-bodied accessible to pump out that actuality which appropriate now we’re giving abroad for chargeless and few could monetize. You could monetize that to your account in assorted means as against to absolution the technology companies monetize it for you in barter for whatever chargeless casework they anticipate you would like.
Gardner: That makes a lot of faculty to me. Let’s move to our final microtrend we’re activity to allocution about on this podcast and that is No. 44, “virtual entrepreneurs.” Certainly a lot of entrepreneurs alert appropriate now. A lot of bodies who might, one day, appetite to be an entrepreneur. Allotment of what you point out with this microtrend, Mark, is that it’s easier than anytime afore to be and become an entrepreneur.
Penn: I anticipate bodies anticipate of the billow as an addition for BOOT business. In fact, the billow is one of the greatest innovations for baby business and for alone business back the PC. You can now sit bottomward at a PC, your iPad, or alike your buzz and you could alpha your absolute business. You could get assimilate chat processing or added software in the cloud. You can assurance up for your payroll. You can register, typically, with your accompaniment government. You can get your federal tax ID. You can be off and active and be a basic administrator operating in a business in a brace of hours with a smartphone or an iPad.
And afresh you may or may not additionally be able to accomplish your absolute assets off of the affectionate of new basic administrator opportunities that are on there, decidedly actuality an influencer. Look, if you could get your dog […] in $50,000; your dog could able-bodied be account $100,000 a year. So put your dog to basic entrepreneurship. But you can appear up whether it’s retail, whether it’s affairs agenda goods, whether it’s games, whether it’s alike accomplishing podcasts like this. There’s so abounding new means that you can absolutely accomplish some money.
Look, I started out at age 13 and I awash stamps to collectors through the mail. They aloof didn’t apperceive they were ambidextrous with a 13-year-old. Today any 13-year-old can accept a basic business on eBay. I abiding would accept had one.
Gardner: And you do acknowledgment that chapter, “The Rise of Basic Entrepreneurs.” You wrote [I’m quoting], “… stands to advice American women in particular.”
Penn: Because the new affectionate of mom and pop abundance is the mom and pop consulting biz. And decidedly a lot of women who appetite to be able to assignment allotment time go into consulting opportunities that now they can absolutely assignment allotment time virtually. So abounding altered means to ascendancy your own activity and actualize an activity that didn’t abide and bear a account after alike abrogation your home. I anticipate bodies belittle the basic entrepreneurship abilities and opportunities accessible to Americans today.
Gardner: And animal creativity, in my acquaintance anyway, knows no bound and hasty new things pop up actuality and there and we apprehend books like castigation to apprehend about them for the aboriginal time. I hadn’t absolutely heard abundant about basic restaurants. You were autograph that these “restaurants would accept no delay agents and no host or hostess. Aloof a kitchen creating adorable aliment with the abstraction that acclimation online and through app casework would be abundant to sustain a business.” You aloof airing into a basic restaurant.
Penn: Exactly. It’s actual interesting. Some of the best absorbing Japanese restaurants accept alone takeout, but you could accept a basic restaurant aloof accepting takeout. Aloof accepting Postmates aces up the food. You never accept to do any of that added stuff. You aloof charge to actualize an online image. Actualize an online angel and about-face out the food. You never accept to accord with a aide again.
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