I don’t know if it is just me, have you noticed that everyone wants everything now?
I expected quite a bit of ‘Now-ism’ after the majority of Covid restrictions eased. After all, we had two years of pent-up impatience just waiting to be smashed.
We had to wait for our favourite restaurants to re-open, for our family and friends to be able to visit, for our in-person (no delivery fee, no waiting) shopping fix, for that wedding. And as for our overseas holidays a lot of us are still waiting, whilst some people have thrown caution to the wind and jumped on a plane. Many businesses entered holding patterns and are now keen to jump forward.
But in some cases it seems as though Now-ism is taking over from common sense.
“Afterpay’s success lies within its ability to identify a need in the market, and capitalise on every opportunity along the way. The top priority for customers today is not price, but rather convenience. Afterpay addressed a convenience factor in its business model, making it easy for customers to use.”
The fact that people can now buy something so easily with money they don’t yet have is ringing warning bells within charities, financial planning and financial counselling services. Sure we have had credit cards for a long time, but they are expensive and quite hard to get these days.
But Buy Now Pay Later (BNPL) is so easy. A few clicks and you have access to things you should be waiting for. At least with old fashioned ‘lay-by’ you had to wait to get your goods, even if you were forward-committing. Each BNPL company is probably doing things right, however put together a few, and young people, those on low incomes, and some business people are increasingly getting themselves into trouble.
Add this to the increasingly cashless economy where money is a lot less ‘real’ and we have disasters piling up in their rush to be the next one to happen. Children playing shops use cards to pay for things. Dolls even come with credit cards now for their shopping adventures!
People are contacting their superannuation funds in droves, hundreds of enquiries per day trying to access their funds needed for later right now! Some are genuinely suffering financial hardship for reasons beyond their control, but many just want to get their hands on their retirement dollars now, to buy a new car (a depreciating asset), pay their BNPL or other debts, go on a holiday, or pay their rent.
Rising inflation, rising interest rates and the ATO clawing back tax debt, as well as staff and supply issues mean it is a tough time for many businesses. Some are in the position of wanting to take advantage of unique opportunities, and yet too scared to jump in to moving away from their home office to a bigger, more professional space. Wanting it now could mean committing to something risky, or it could be the kick-start needed for impressive growth.
We used to say “you can’t have your cake and eat it too!”
I don’t know the origins of that saying; however many people seem to be trying to do just that with their desire to have everything now. But are they being careful enough? Will there be any cake for later?
Coworking is a great way for a business to have your cake and eat it too. Shared office space can help with your desire to take a leap of faith into the future and just nibble on that icing, without gobbling up the whole cake. No fit-out, bond or furniture and supply costs, professional, and with no long-term contracts or lock-ins. Coworking allows you to upscale or downscale as your budget permits.
Perfect for those leaps of business faith, without a dangerous canyon to fall into. Now-ism without all the risks.
Now we just need an answer for those people who need to buy new clothes right now, have that perfect cupboard for that difficult spot in the kids room before they get paid, or fall for the crazy sales pitches warning them they need to buy things now or miss out.
If you interested in how coworking can help your business book a tour and come and check out Platypus Coworking.