Opinions expressed by Entrepreneur contributors are their own.
Key Takeaways
- Business fundamentals need to be continually reexamined as technology, customer expectations and the nature of work evolve rapidly.
- Every generation of entrepreneurs inherits rules from the generation before it. The smartest ones figure out which are still worth following.
My parents’ generation largely grew up believing you found a good company, worked hard, moved up the ladder and, if everything went according to plan, stayed there.
Today, people change jobs for better pay, flexibility, titles and that elusive thing every company claims to have — great culture. At the same time, we’ve raised a generation accustomed to immediacy. Order something today, and it might arrive today. Want to watch something? Stream it. Need an answer? Ask AI.
That changes consumers, employees and entrepreneurs.
Some of the old startup playbook focused on things that looked good: elaborate offices, cool perks, corporate initiatives and, for a while, apparently putting a slide in the middle of the office. None of that compensates for getting the fundamentals wrong.
Building a company now requires constantly questioning what those fundamentals should be.
1. Use AI to compete with AI
A good friend owns a marketing company and is an incredible graphic designer. Her custom, hand-drawn work is head and shoulders above the generic AI material we’re seeing everywhere. But she’s competing with something that can produce an image in seconds.
Customers may recognize that her work is better and still ask: Why should I pay more and wait longer when AI can give me something good enough right now?
My question to her was: Why not offer both?
Let AI handle what doesn’t require her talent, then apply her creativity and judgment where they actually change the result. If AI turns a 20-hour job into a two-hour job, eventually the economics change too. Someone will deliver faster or cheaper.
You’re not just competing with AI. You’re competing with the entrepreneur who learns to use it better than you.
2. Rethink the job before you hire for it
Another friend is an accounting director at a Fortune 500 company. Her company is reconsidering certain titles, degree requirements and experience expectations while simultaneously pushing employees to use AI. AI utilization is even becoming part of how performance is evaluated.
Think about where that could lead. An accountant may spend less time producing information and more time validating it, finding errors and deciding what it means.
Eventually, AI may become good at some of that too. We don’t know. That’s why entrepreneurs shouldn’t automatically recreate yesterday’s job descriptions.
Before hiring, ask what actually needs to be accomplished. Can technology do part of it? Can you eliminate the process altogether? Can one exceptional employee with the right technology accomplish what once required three?
Design the job around the work that exists today.
3. Build a multigenerational company — and listen to it
A 22-year-old employee grew up in a completely different consumer environment than someone who’s 55. They may instinctively understand platforms, expectations and behaviors an older executive had to learn.
The 55-year-old may have lived through recessions, hiring booms, layoffs, management trends and supposedly revolutionary technologies that disappeared five years later.
Hire both. More importantly, listen to both.
Your youngest employee may recognize where customers are going before you do. Your most experienced employee may recognize a mistake because they’ve already watched somebody make it.
Different generations aren’t just a workforce statistic. Their collective experience can be a competitive advantage.
4. Recognize that “instant” has changed your customer
Customers no longer compare your service only to your direct competitors. Amazon delivers the same day. Netflix streams instantly. Uber shows exactly where your driver is. AI answers a question in seconds.
Then a company says, “We’ll get back to you in three to five business days.” That increasingly feels ridiculous.
Not every business needs to operate at Amazon speed, and speed doesn’t excuse bad work. But immediacy has changed what good service feels like.
Friction is now part of your product whether you intended it to be or not.
5. Don’t assume AI can’t replace you
There’s a comforting prediction about AI: Great designers, accountants, lawyers, marketers and engineers aren’t going anywhere.
Maybe. I wouldn’t bet my company on it.
Instead of defending the old way of doing something, ask what happens if technology becomes dramatically better at it. Could you build the technology that makes an old process obsolete instead of being the person defending that process?
Then ask a harder question: What should technology replace?
We assume removing human involvement makes something less human. But technology’s purpose shouldn’t be preserving jobs or eliminating them. It should be improving outcomes for people.
Entrepreneurs should be willing to follow that question wherever it leads.
6. Invest in what technology makes more valuable
If practically anyone can generate an article, advertisement, logo or marketing campaign in minutes, simply producing something competent isn’t much of an advantage.
So what remains scarce? Trust. Relationships. Reputation. Judgment. Taste. Community. Original ideas. Exceptional service.
And human connection.
In a world filled with automated interactions and synthetic content, genuine relationships may become more valuable.
Don’t only ask what AI commoditizes. Ask what becomes more valuable because everything else has been commoditized.
7. Think for yourself
“We’ve always done it this way” has always been dangerous in business. But calling yourself a “disruptor,” “innovator” or “cutting-edge” isn’t particularly meaningful anymore either.
Maybe thinking for yourself is disruptive enough. Do you need an office? Does that position require a degree? Does the customer care about that feature? Does this meeting need to happen? Does a human need to perform that task?
And keep asking.
The opportunity isn’t to build the company someone taught you to build and sprinkle AI on top. It’s to reconsider what the company itself should look like.
It might have 100 employees. It might have 10. It might automate something competitors still do manually while investing heavily in people somewhere everyone else is automating. The answer isn’t always more AI.
Every generation of entrepreneurs inherits rules from the generation before it. The smartest ones figure out which are still worth following.
Key Takeaways
- Business fundamentals need to be continually reexamined as technology, customer expectations and the nature of work evolve rapidly.
- Every generation of entrepreneurs inherits rules from the generation before it. The smartest ones figure out which are still worth following.
My parents’ generation largely grew up believing you found a good company, worked hard, moved up the ladder and, if everything went according to plan, stayed there.
Today, people change jobs for better pay, flexibility, titles and that elusive thing every company claims to have — great culture. At the same time, we’ve raised a generation accustomed to immediacy. Order something today, and it might arrive today. Want to watch something? Stream it. Need an answer? Ask AI.
That changes consumers, employees and entrepreneurs.
