Quarters, Bitcoins, and a World Changing Faster Than Anyone Can Keep Up With
Entrepreneur Office Hours - Issue #254
The other day, I watched my eight-year-old pick up a quarter she found on the ground, study it with a puzzled expression, and then ask me, “Is this like a Bitcoin?” In that moment, I realized how far things have shifted in a relatively short time. I mean, here I was, face-to-face with a generational gap I hadn’t even realized existed. A quarter — something so basic, so familiar to me — is suddenly an artifact my kid can’t quite place in her world.
And who could blame her? When was the last time any of us used cash, let alone coins? Our kids are growing up in a world where physical currency is practically obsolete, where digital wallets are the norm, and where "money" is a concept rather than a tangible object. To her, “money” is whatever we’re using to buy V-Bucks on Fortnite or whatever number shows up in my Apple Wallet. That quarter was just another strange thing from a time she can’t quite imagine.
As entrepreneurs, these moments serve as valuable reminders of how quickly things change and the importance of staying adaptable. The tools, norms, and realities we take for granted are constantly evolving. Think about it: the world my daughter is growing up in is vastly different from the one where I started learning about money. In her world, terms like "decentralized finance" and "digital currency" might be as familiar as "ATM" and "checking account" were for me. So the question becomes, how do we prepare ourselves and our businesses for this rapid pace of change?
Honestly, the only thing I know for sure is that we need to keep our eyes open, our minds flexible, and our feet ready to pivot at a moment’s notice. The world is changing fast, and as entrepreneurs, our job is to change with it — or, better yet, to get ahead of it!
-Aaron
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Office Hours Q&A
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QUESTION:
Hey Aaron!
I’m curious to get your opinion on something I’ve been thinking a lot about recently, which is the pace of change in today’s world. With the pace of change today, especially around technology and finance, how are entrepreneurs supposed to make sure they’re not getting left behind? I honestly feel like I can’t keep up!
What’s your advice on staying current and making smart decisions about the tech world when everything seems to be shifting so quickly?"
Thanks for your thoughts on this,
Jordan
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I definitely appreciate where you’re coming from. The pace of change in the world feels absolutely overwhelming, especially in areas like tech and finance where a new “world changing” thing seems to be coming out every day.
The good news, I suppose, is you don’t have to be on top of every single change or trend to stay relevant. Instead, try to stay focused. Specifically, you want to develop a strategy that lets you stay on top of the changes that actually matter to your business. Here’s how I’d approach it:
1. Focus on Fundamentals: No matter how much the world shifts, certain fundamentals stay the same. Things like understanding your customers, building strong relationships, and delivering real value are timeless. Keep your core business principles solid, and let that be the anchor that grounds you while you explore new trends.
2. Pick Your Battles: You don’t need to chase every new tech trend – just the ones that align with your goals. So instead of feeling like you have to know everything, focus on the developments that could actually benefit or impact your business directly. Choose a few key areas to dive into, and ignore the rest. This way, you’re staying informed without getting overwhelmed (or wasting time).
3. Embrace Learning as a Constant: The best entrepreneurs are lifelong learners. Make it a habit to regularly read up on industry trends, but don’t stop there. Engage with people who are more tech-savvy than you, join communities, listen to podcasts, or even take a short course on something that interests you. You don’t have to be an expert in everything, but staying curious helps keep you nimble.
4. Lean on Experts: You’re not in this alone. Surround yourself with people who understand the areas you’re less familiar with. Whether it’s a tech-savvy co-founder, a consultant, or a knowledgeable friend, having access to expertise means you can get insights without personally having to know all the technical details.
5. Be Willing to Pivot: The reality of today’s world is that things are going to keep changing. Instead of trying to lock in a perfect strategy, stay flexible. If you’re willing to adjust and adapt, you’ll more easily navigate changes without feeling like you’re falling behind.
Ultimately, just keep reminding yourself that staying current isn’t about chasing every shiny object. Create a solid foundation, be curious, and stay open to new possibilities when they align with your goals. If you keep those things in mind, you’ll be in a good position to make smart, informed decisions, no matter how quickly things change.
Got startup questions of your own? Reply to this email with whatever you want to know, and I’ll do my best to answer!
