Patience is a Virtue

They say patience is a virtue, but as technological advancements spark new product development quicker than ever before, patience becomes an even more important characteristic, particularly for those that truly support an idea from the beginning.

In many cases, technology is moving faster than the level of consumer comfort required for the mass adoption of new product or service models that people simply aren’t used to. Innovators and entrepreneurs must be careful not to mistaken slow adoption for product failure.

Four Square, for example, has been slow to catch on – but it’s potential is huge and supporters continue to believe that with time usages levels will improve. Some believe that GPS enabled products have been slower to popularize because the average consumer is not yet comfortable revealing their location. Just as the masses have grown comfortable with the privacy concerns that were raised regarding access to personal information on Facebook, I expect similar consumer tolerance of location based services over time.

According to this source, Four Square and Gowalla both had an impact at the SXSW this year, to me, a strong indication of things to come.

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