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With the beginning of the tech era, millennial tech entrepreneurs have given big established companies numerous reasons to be scared of them. While big companies work to satisfy their clients and compliment the projects assigned to them, the young entrepreneurs are working to solve a different kind of problems they themselves have gone through. Concentrating on millennial tech entrepreneurs, the young heads are working to solve technically low backgrounds of their countries and helping the local vendors to put their business forward by providing them software, applications, and platforms to showcase their products. That is the reason why Flipkart CEO SachinBansal and Brainscape CEO Andrew Cohen have grown to be millionaires in no time.
Seeing the fast-growing profits of the startups, the big companies are trying well to copy unique traits of millennial entrepreneurs and their work ethics to double up their profits. If this continues, soon the tech start-ups will diminish to ground zero level again and the big companies will again overtake the market. However, millennial tech entrepreneurs are growing to take over the market and in no time, they shall be operating the big companies on their footsteps.Seeing the new technological upbringing, it is evident that people are getting more technology dependent and hence searching for inventions which can reduce manpower and brain workouts. Science has already given us a clue, a clue to bound all humanly works over remote controllers and the technology is named as 'IoT (Internet of Things). IoT is a new kind of machine to machine technology which enables data transferring and computing over the internet network. Big brands like IBM have already launched consultancy service, Global Watson based on IoT technology and a whole new platform to build and manage IoT technology. Now it's time for the millennial tech entrepreneurs to concentrate on 'IoT' technology before big brands squeeze them away from the global market. Here are few reasons why millennial tech entrepreneurs must concentrate on IoT rather than programming new android apps.
1. IoT is the frontier of technology
Internet of thing is the latest technology in the market and it has the power to conquer the world. If the tech entrepreneurs are serious about their long-term market building dream, then its high time for them to concentrate on IoT technology.
2. Small change for big outcome
Finally, the technology is here which can cut off the man power of your company and save you some payroll and taxes. If you make use of your present IT assets, you can make your devices talk to your customer. Imagine a robot talking to your customer at your reception desk.
3. Interconnect your devices to save time and money
A onetime investment on your devices to make them IoT enable can save your time, money and fetch new customer easily. People go for organizations with better technical upbringing. Interconnecting your devices will make the work easier both your customers and employees.
4. Speed up your business
Enabling your devices to talk to each other and transfer data over a network can definitely speed up your business. Machines respond faster than the living head. Analyzing and computing data takes a lot of time. IoT helps to analyze the problem in shorter time and think for solution faster.
5. Customer friendly
People opt for places which delight their mood. IoT can finally help you win every customer's heart. No one likes to change 100 clothes in the fitting room to get one perfect one. Instead, enable a sensing robot which can help customer give a virtual view of the product on them. It will save time and increase sales.