Exclusively staying ahead or behind the technological curve can lead to misfortune.

Over the past decades, it has been my experience that there are two basic categories of technology: "cutting-edge" and "behind the curve." Electric (rechargeable) automobiles, for instance, would be considered cutting-edge while hybrid (gasoline and battery) automobiles are behind the curve.

Interestingly, when it comes to technology adoption, there also seem to be two types of users. There are those who must be ahead of the curve, always first with the latest technology regardless of how well it may work or how much it costs. And there are those who use only proven technology that is reliable, cost-effective and offers value.

Back in 2013, a friend took delivery of an early Tesla Model S. He was so excited to finally have an electric car, and it sure was a beauty. I remember asking him how it drove. "Like nothing else I have ever driven," he responded. But when I asked how far it could go between charges, he replied "I do not know."

Look past the scary headlines and stay focused on business plan fundamentals.

Welcome to 2023. As ready as we all try to be when beginning the annual cycle of booking orders, scheduling resources, shipping product, and oh yes, collecting payment, this year many are still tweaking their annual budgets. The effects of rising inflation and a prolonged unstable supply chain are causing many to rethink how they must operate their business to maintain margin and profitability.