There are two concepts that are going to have a radical influence over the next 10 years of business, and unless we embrace them, we are going to be left behind by those individuals and companies who do.
The first is the management of change.
As the saying goes, change is the only constant.
But today’s successful leaders not only accept that change is the driving force behind everything, but they aggressively try to modify the behaviour of the marketplace.
Here are some factors that you need to recognise has to happen if you are to keep up with the major players:
They successfully use the latest technology to effect the changes that need to be driven
They partner with clients to gain rapid adoption of the new models that are driving change
Their marketing skills are driven by what makes their customers’ businesses succeed
They have the ability to build solutions quickly and effectively for the new markets
The business benefits of these changes can be seen as strategic weapons for future inroads into your market.
The second concept is the management of risk.
This can be seen as fundamental in the business market, or it can be ignored as something we have no control over.
Judith A Neal writes about four key skills that a risk-taker needs to develop in order to meet this future challenge head on.
She asserts that these four will help you divert attention away from the fear that is associated with risk:
Visionary Consciousness. By this, she means that the person elevates risk by having a strong sense of values and integrity. They are able to consciously take what they have experienced in the past, learn from any mistakes they have made and build their strength from those lessons
Multicultural Responsiveness. Risk-takers of the future will recognise they span conventional barriers, and have an innate curiosity about what makes markets tick. They look for commonalities in a world of differences and ensure they see the strengths they can build on and alleviate the problems associated with taking risks in the future
Intuitive Sensitivity. They take their future information from many sources, are avid readers and are always looking from many sources, creating themes and patterns that can be integrated into their working practices. This intuition can be built by the skill of deep listening. Remember, when you read the words of an influencer, you are listening to their thoughts in the same way you would when they are talking face-to-face with you. Build your intuition by taking note of what the key thinkers are saying the future of your industry looks like.
Self-Awareness. The epitome of the strong personality includes that of low need for control. By this, we mean that if a person is needy or requires being in control of everything that goes on, they will naturally feel aggrieved when it doesn’t happen. Being self-aware involves recognising times when your emotional intelligence deserted you, or that you’re not creating a future-benefit system that you can follow. It’s necessary to develop this awareness in order to solidify your risk-taking.
These components (managing change and managing risk) will probably be two of the most important areas for us to concentrate on when we are dealing with the challenges businesses face over the next few years.