In the whirlwind of the ever-evolving landscape, leadership has never needed sharper acuity. Being the leader, the chief strategist, and the quarterback who must call the right plays and determine the best maneuvers is a true test of agility…and foresight.
Foresight - the ability to see what is likely to happen in the future and take appropriate action - is tricky, because as history has proven: we have no idea what the future holds.
💡In 1899 - the commissioner of The U.S. Office of Patents said, “Everything that can be invented has been invented.”
🚘In 1903 - The President of Michigan Savings Bank told Henry Ford’s lawyer, “The horse is here to stay but the automobile is only a novelty - a fad.”
⚛️In 1932 - Einstein said, “There is not the slightest indication that nuclear energy will ever be obtainable. It would mean that the atom would have to be shattered at will.”
📱In 2007 - Steve Ballmer, Microsoft’s CEO said, “There’s no chance that the iPhone is going to get any significant market share.”
What we believe to be true or happening isn’t always the truth or reality. Our perception is colored by many things, like biases (availability bias for example), the information we consume, and our Reticular Activating System (RAS) - which is a bundle of nerves at the brainstem that acts as a filter to deliver only important and relevant information to you.
So as we navigate arguably the most disruptive change yet to be seen in our lifetimes, what we choose to focus on will shape our beliefs, thoughts, actions, and ultimately the quality of our lives.
What we focus on, we find.
Have you heard the Tale of Two Wolves? It goes like this: An old Cherokee Indian chief was teaching his grandson about life.He said, "A fight is going on inside me," he told the young boy, "a fight between two wolves.
The Dark one is evil - he is anger, envy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego." He continued, "The Light Wolf is good - he is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, and faith. The same fight is going on inside you grandson…and inside of every other person on the face of this earth.”
The grandson ponders this for a moment and then asked, "Grandfather, which wolf will win?" The old Cherokee smiled and simply said, "The one you feed"
So while we can’t predict the future - there are 8 trends we're navigating through now - in this world of accelerated and exponential change.
Perspective is everything - and our ability to thrive might just come down to one question: which wolf will you feed?
1. Recession? What Recession? It’s not as bad as we thought and not as good as we want
While sensational headlines often paint a grim picture with a recession or worse, economic data from institutions like the World Bank indicate robust recovery patterns.
Regardless of where you are on the fear-to-faith continuum, pulling on the strings of wisdom from Admiral Stockdale will do us all good: To survive a difficult situation, one must balance optimism with a realistic assessment of the current reality, whatever the situation.
I don’t know about you - but I’m choosing faith over fear on this one. Who’s with me?
2. Labor Market. Everything is not as it seems
The labor market presents a fascinating dichotomy. Recent times saw significant layoffs, but juxtapose that with the massive hiring driven by tech behemoths like Facebook and Google, and a complex picture emerges. It accentuates the essence of adaptability in the corporate realm.
Thriving today mandates operational efficiency (Facebook declared 2023 the year of efficiency, while Elon was more direct and went form 7500 employees down to 1800) – delivering more with less, and at times, reimagining the playbook entirely.
It’s not just do more with less, but the less that matters more. And yeah, there are also still more than 8MM jobs open.
Will AI eat up all the jobs? Maybe…maybe not → Check this out.
3. Hybrid Work, Love it or hate it, it's here to stay
March 16, 2020, will forever be etched as a day the genie was let out of the bottle - our freedom. What was once 'business as usual' became an antiquated notion overnight.
The term 'hybrid' transitioned from being a mere organizational model to a fundamental ethos. Early adopters of this blended approach were undoubtedly at an advantage, exemplifying the merit of foresight and adaptability.
4. Nature of Disruption. It's not you, it's me.
Success breeds complacency. Change is sometimes forced upon us from external factors.
As sectors evolve, those still clinging to archaic paradigms, such as high pricing with compromised quality, will be the next Blockbusters of this decade.
The real game-changers are humans that challenge, innovate, and redefine the status quo starting from within. My good friend Jack Alloca used these slides years ago to talk about complex systems and evolution.
5. The Time Value Equation. Find it. bend it, don't waste it
Time's value is immeasurable. Assessing the offerings of services like Clear, Walmart Delivery, and Netflix, it becomes evident that our time has tangible economic worth. Whether bypassing long queues or reclaiming hours otherwise lost in mundane tasks, the underpinning question remains: How can we make every second count?
When executives ask for our help to grow revenue - our first reaction is to figure out the real value equation for their goods and services. When the value is clear and undeniable, the price is easy to swallow. And in our world of fast - time saving is the new love language.
Professor Scott Galloway had a great write up HERE.
6. All Things AI. The best of times and the worst of times
“The real problem of humanity is the following: We have Paleolithic emotions, medieval institutions and godlike technology. And it is terrifically dangerous, and it is now approaching a point of crisis overall.” - Edward O. Wilson
Whether you’re all-in to AI and have lovingly adopted it as your co-pilot, ride or die - or you think it’s devil in disguise, there’s no question that this is the direction we’re headed…and where investors are investing.
In short, follow the money and trend. As AI's prominence rises, it's essential to recall the initial trepidation that often accompanies light-your-hair-on-fire innovations.
The real challenge we’re all going to have to work through isn't the implementation of AI but its ethical integration, ensuring that humanity's core values remain uncompromised.
And if you want a lay of the land - check this out
7. Beyond Exponential. The fast fish eats the slow fish
Size no longer guarantees success. In the contemporary business arena, agility is the real game-changer. As Gary Hamel aptly put, "The fast fish is going to eat the slow fish." It's a clarion call for strategic acceleration.
8. Loneliness. In it together
In a world replete with digital interconnections, the specter of loneliness remains an ironic yet pressing concern. While loneliness is actually a state of mind, it causes people to feel empty, alone, and unwanted - which makes it even more difficult to form connections with others.
Not only are we in this one together, but leaders have a huge opportunity to help - by spearheading initiatives that foster genuine human connections and by cultivating environments of belonging and empathy.
The future is ahead, vast and uncharted. The onus is on us - we get to choose.
Will we choose to see the coming transformation and disruptive change as something to fear as we hold onto the way we’ve always done things, and the thoughts we’ve always had? Or will we be the pioneers and visionary leaders that our future generations will talk about?
Challenge the known. Embrace the unknown. The future begins now.
