the future of home based and small business

Tomorrow[at]WorkEnabling Better Ways of Working

“My interest is in the future because I am going to spend the rest of my life there”

Charles F. Kettering (1876-1958)

Thursday, 23 June 2011

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The Future of Home Based and Small Business

Keynote presentation supporting the development of the Yarra Ranges Economic Development Strategy



Roadmap

IntroductionTrends shaping our futureIntersections with small business in the Yarra RangesSome final thoughts



Tomorrow[at]Work specialises in actively enabling better ways of working



The future is neither linear nor chaotic. Trends in isolation may be predictable but the convergence of multiple trends creates complex outcomes.



Which of your business (and life) challenges and opportunities are being influenced by big social, technological and environmental trends?



Trends shaping our worldIncreasing Computing PowerNetwork GrowthPeak Resource UsageGlobalisationDemographic ShiftsDiversifying Social Values



Increasing Computing PowerThere is no foreseeable end to current improvements in computing power, battery life, storage and computer size.



In February this year a computer won the game show Jeopardy against two of the games best players



By 2013 there will be more mobile computer users than desktop users



Network GrowthFacilitating greater connectivity and relationships between people across the globe



More than half of all Australians are internet users...and they are using it more than television



The power of social media to connect people with valuable ideas can not be underestimated



Resource ScarcityThe economics of resource extraction and use are leading a revolution to find alternatives



There is strong evidence to suggest we have hit tipping points in the cost of oil, iron ore, coal, copper, corn...



By 2015 it is estimated that solar will reach grid parity with fossil fuels



GlobalisationAs we move towards a borderless world our understanding of ‘we’ and ‘us’ is changing



Technology is assisting with information exchange and integration



The Global Financial Crisis has shown that a global network can also result in the spread of new risks



Demographic ShiftsDeclining mortality rates and declining birthrates will mean an older and larger population in 2020



Increasing wealth in developing nations is resulting in more pressure on our global ecosystem



In the next 10 years we are going to see five generations together in the workforce



Diversifying social valuesDriven by globalisation, environmental concern and demographic shifts



Consumers are making more conscious choices about the products they buy and who they buy them from



Shifting social values is also leading to greater expectations of business and government in relation to transparency and ethical behaviour



Intersections with Small Business in the Yarra Ranges

The Digital WorkplaceWorker MobilityThe Knowledge EconomyLife IntegrationNew Business Models



The Digital WorkplaceThe work of business is increasingly taking place online



Better connectivity will allow employees to work remotely and encourage more intentional use of workplaces



If better connectivity can allow individuals to work remotely why not move the whole business?



Social media is media you can’t buy or own, you have to earn it



Worker Mobility The breakdown of traditional forms of employment will result in new and innovative work arrangements



Companies will hire teams consisting entirely of freelancers to complete one-off projects



New business models are facilitating the outsource of a design, a project or a whole employee.



Recruiting will increasingly happen through your social networks



The Knowledge EconomyWe are experiencing a shift from logical to conceptual and creative work



80% of future labour shortages will be attributable to a lack of skills, not a lack of labour



We will increasingly look to acquire knowledge through non-traditional forms of education



Life IntegrationPeople are looking for a more seamless integration of all elements of life



We are seeking connection to people, to food, to place and to life



Consumers are demanding more authentic and local products



Innovative Business ModelsNew ways of working are beinh developed to meet a shifting business landscape



Social enterprises operate as commercial business but use their profits to delivering social outcomes



Crowd funding allows a community of stakeholders to invest in projects in which they have a personal interest



Open innovation or ‘crowdsouring’ gives customers greater input into the design and functionality of products



Coworking spaces are emerging as workers look for the services of an office without the capital outlay



The network consultancy model allows for freelancers to better meet the needs of their clients by working with like minded individuals



Some final thoughts

Identifying and building on the strengths of the Yarra RangesCreating the Yarra Ranges of 2020 and beyondAddressing our individual and collective challenges



Identify and building on the strengths of the Yarra Ranges



You are the creators of the Yarra Ranges in 2020 and beyond



We need to find ways to address challenges both individually and collectively



There are no problems or solutions, only possibilities
