Whether it is thanks to the coronavirus pandemic or accelerated exponential change that has been taking place for decades prior, digital disruptions are not slowing down anytime soon. And while the wave of change is bringing new opportunities all the time, it is bound to create discomfort for those who believe they are immune to change.
I coin this mentality the “wait-and-see mindset”: when a business or organization decides to wait out a massive digital disruption that is either heading its way or is already shaking up the products or services it offers. Realistically, we all wait and see in some ways — it is certainly easier to let someone take the leap and, theoretically, get banged up on the way down, showing you what not to do.
However, seldom does that turn out the way a business leader, entrepreneur, or employee was hoping, largely because that same leap will never be there for you to take again, or even worse, you could be left stranded where you are at.
But the good news is that because of how accelerated digital disruptions have become, there is likely more than just one opportunity to leverage in your industry. Therefore, if you recognize that your organization has a wait-and-see mindset around the discomfort of change, here is your chance to transform that for the better.
First and foremost, let’s understand this wait-and-see mindset a bit more to help you get more comfortable with letting go of relying on it so heavily.
In past blogs, I have addressed this mindset; however, I want to remind everyone of a fact of life: Everyone has a wait-and-see mindset initially! That’s right, even the riskiest individuals first consider waiting out something they are unsure about. This is a primordial survival trait, similar to our aversions to change.
Finding a status quo means safety for us. Just like animals have instincts that, even after domestication, they cannot shake, human beings strive for a “normal” of sorts. It is why the pandemic has been so disruptive to many people’s mental health; living like we have is so far from what we have deemed normal for centuries.
In business, protecting and defending your status quo is necessary in some ways. What you’ve built is working, and so long as your business or organization is making money, you are able to pay employees and keep the ball rolling. But getting too set in your ways, such as relying on what I’ve referred to as your cash cow that accounts for most of your income, puts you at risk for complete disruption.
Take, for example, the global supply chain. Truck drivers and delivery personnel are integral to keeping the supply chain moving smoothly, especially since so many individuals shop online these days. However, what about the boom in autonomous vehicles and drone delivery services? What does that do to trucking companies and third-party delivery services? Sitting and hoping that these technologies won’t affect your company or arrogantly boasting that “this will never be widely accepted” is wishful thinking — they are here to stay.
It is foolish to think that changes in business have a universal “end” to them.
Change will always happen so long as individual customers discover new problems with their current processes. Decades ago, the leaders at Amazon realized they would one day not be the best online bookstore alone, just as leaders at Google recognized that a search engine could not stay in the lead forever.
But what type of change impacts your business or industry? As I’ve taught in my Anticipatory Leader System, there are two different types of change: cyclical and linear change. Cyclical change happens over and over again — an extremely predictable transformation that you can leverage to your advantage. Taking our supply chain example from earlier, the holiday season and all its deliveries are cyclical, as every year, people will order more around this time, needing delivery in one way or another.
Linear change is different; it happens once and doesn’t happen again, but when it does occur, it is massively disruptive. For truck drivers, delivery personnel, and the global supply chain, autonomous vehicles and remote-controlled delivery via drones are here to stay and will only further uproot legacy systems.
At the time of this writing, fully autonomous semi-trucks are not yet largely used, nor is drone delivery the go-to solution. That means that businesses involved in the global supply chain still have time to leverage these disruptions to their benefit instead of waiting these changes out, but how?
I focus a good portion of my Anticipatory teachings toward business leaders within organizations, but for this example, let’s consider the workers affected by a wait-and-see mindset in the global supply chain industry.
Even if you are a manager or higher-level executive reading this, it is imperative to note that your employees are your lifeblood and that your organization is theirs. You are a team, and teammates look out for one another. A wait-and-see mindset is costly for all involved.
With that being said, the Hard Trends shaping the global supply chain industry can be leveraged by leaders to benefit both themselves and, perhaps more importantly in this case, their employees. With drone delivery being on the rise, offering delivery drivers the opportunity to get their drone licenses prepares them for this potential shift in the industry.
In turn, your proactivity will restore their faith in the progression of your organization. Not only will they feel prepared to stay employed in the industry, but they will also feel reassured that you are taking steps to help them continue to work for you.
Remember, there is a risky cost associated with a wait-and-see mindset and, even worse, saying no to disruptions. If these businesses in the global supply chain industry decide against preparing for a remote-controlled or autonomous shift in delivery, they not only will lose employees but, ultimately, will lose the clientele that keeps them in business.
So much information about how bad the market is or how interest rates are going higher and that is going to kill the market. Well, those are EXCUSES made by the many who refuse to do what is needed to WIN! And believe me, people out there are WINNING every single day!
Higher home prices are not stopping buyers from buying. Higher interest rates are not stopping people from buying. Inventory, or the supposed lack of inventory, is not stopping people from buying houses. Those that are winning are working, while those that aren’t are whining! You can make excuses, but they won’t help you win.
We have talked to this point over and over, and yet it seems some have missed it. You must find what is winning in your market and share the strategy so they can win, and YOU can win! Every day there is incredible opportunity to share winning strategies and secure your deals. What has been winning?
• Focus on the quality of the pre-approval and the speed with which you can close! Being ready and turning a file quickly can win deals!
• Have your buyers ready to make their best offer, and it isn’t always about the most money, it can be how confident they are in the closing and how quickly you can get it done.
• Teaching your people that life isn’t about rates, its about PAYMENTS! There are many ways you can lower your borrowers’ total payments, it’s not just about the rate!
• Credit scores can lower more than just the cost of the loan, PMI and homeowners’ insurance benefit as well. Don’t forget the possibility of your PMI Representative helping you explain how to lower that cost while people are shopping or preparing to buy a house.
You can whine or you can WIN! To learn more about winning: IMTcoaching.com
“Protecting the integrity of the game” has been one of the stalwarts of the National Football League. I’m sure it is the same in every pro sport as well as college and scholastic games. Every fan wants to see an honest game. Even games in your living room need to be played with integrity. If the opponent is cheating, it makes it not a game but an unfair contest.
During my 31 years as a referee in the NFL, I was overly cautious to avoid conversations with strangers who wanted to ask me about a certain player or a player injury in order for them to have an advantage if they were betting on games. The officials on the NFL field today need to be just as cautious. I am proud to say that in my 62-year association (I started in 1960) with the NFL, there has never — I mean never — been an on-field NFL official accused of bribery or supplying inside information to gamblers.
I am sure the NBA, NHL, and MLB have the same creed of “protecting the integrity” of their sports. Yet less than two decades ago the NBA fired a 13-year veteran referee, Tim Donaghy, who was found guilty of not only betting on his own games but also found guilty of providing inside information to gamblers. Donaghy refereed 13 seasons in the NBA. Evidence proved that he was the rogue culprit.
The concern here is that gambling is addictive and while it has become legal in many states, it has caused many to be guilty of death and loss of liberty. Yet the NFL and other professional sports have partnered with several online betting sites such as DraftKings, FanDuel, and the Fox Bet app and it continues to grow — now in 21 states. Even the dynamic, retired quarterback duo of the Manning brothers (Peyton and Eli) has partnered with Caesars Sportsbook to encourage fans to bet on games. And you don’t have to leave home to place your bets! Yes, our internet advancement had made all that possible.
It was sure different in my NFL time when game officials were denied visiting Las Vegas during the football season in fear that gamblers would contact them. Now not only are officials in Vegas to work games in Allegiant Stadium but there are also hockey officials there to work Golden Knights games. Progress may lead to trouble. Stay tuned.
Will you log in your concerns (if any) about the relationship between gambling sites and sports leagues?
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