Most of the time, when I talk to entrepreneurs about what can and can’t be done, they see the potential limitation as a function of the technology. Well, I’m here to tell you that technology isn’t the issue. Just about anything short of time travel (which Google is currently working on) can be done. Technology is not the limiting factor. User behavior is.
I have at least three conversations a week about Foursquare. Most think it won’t do this or won’t do that. Well, I’m here to tell you two things:
- It doesn’t matter what you think about Fourquare and it’s future, unless your in your teens, mid 20s or a young soul. You aren’t shaping the latest features of the mobile social landscape.
- Foursquare is secondary to the behavior. The act of checking in is becoming a habit. (Pavlov RULES!) That’s what’s important. Right now according to Mashable’s Leah Betancourt, 7% of mobile computer users are aware of location based services. The old guard would say, “I’m not paying attention to that until it hits 20%.”. By the time that number hits 20% you won’t be able to release your product until that number is 30%; overload quickly to follow. Things move very very quickly! The new marker should be 5% . But go ahead and hold-off. By all means, take your time! Also, that 7% are the kind of customers you want. Connected, up-to-date and making real money.
So put your concerns about Foursquare as a business model aside. Forget the fact that someone will buy them for a sum of money that would make most investment bankers jump for joy. Ignore the fact that they’ve signed deals with Zagat, Conde Nast and The New York Times. Don’t think about Foursquare hitting 1 million users this past April after only being in business for a year. Forget that Foursquare surpassed 1 million check-ins a week several months ago. Remember. It’s all about behavior.