Two days ago the US Patent and Trademark Office (USPTO) published the very first Apple patent related to autonomous vehicle technology. One might ponder whether or not that was a critical goal or milestone for the corporation in 2017. We could learn a lesson from this tech giant, not when it comes to slowing down old devices, but rather, the importance of audacious goal setting in a climate where the fixation around quarterly profits sometimes gets in the way of innovation.
Another example is the Apple watch, which may soon be transforming from a luxury fashion accessory into a serious medical device. As you think about your business, what are your New Year’s Resolutions for 2018? We’re not just talking about industry-changing tech devices here. You may opt to start with the basics and getting those right, so treat yourself to some self reflection and goal setting time over your holiday break. Then kick of the new year right with a team meeting on January 2 to relay and orient the troops to your vision.
Here are three thought starters to get you started:
Big Data
What is the role of data in your organization and do you need a Chief Digital Officer, Chief Data Officer or both? By 2019, 90 percent of large global companies will have an appointed CDO, Gartner predicts.
If you are based in Europe, or have business operations there, how will General Data Protection Regulation impact you? GDPR will go into effect May 2018, and will strengthen data protection rules for all organizations that touch personal data for EU residents.
For a trend report on other 2018 data predictions and insights download the Top Data Trends for 2018.
Net Neutrality Repeal
As a result of the 3-2 vote, on Dec. 14, consumers no longer have equal access to the Internet. Online SMBs and startups with less revenue and consumer reach would be the first to feel the pain of deregulation. Do you have the budget to pay for prioritization if it comes to that? What other risk mitigation strategies should you be thinking about to make your business more resilient in 2018. Maybe this is a way to put your corporate tax saving to work.
Tax Bill
The corporate tax rate has been cut from 35 percent to 21 percent starting next year, and the new laws will first be applied to 2018 tax filing season. While AT&T, Comcast and Boeing promise bonuses, and Wells Fargo claims to increase its minimum wage for U.S. employees from $13.50 to $15, how will the new tax bill impact your fiscal decisions at home and in business? Might be a good time to check in with your CPA although you will not be able to write off his/her services next year.
Beyond these thought starters, give your business some real scrutiny and remember that pain points or obstacles can be transformed into opportunity. Here’s to a great 2018.