The global economy is broken and there is a shift taking place, in part brought about by the power of the internet and by the transparency created by online networks, new business channels, new technologies, new opportunities and re invented industries and markets, essentially, shifting the power from biggest to fastest and as always, the smartest.
Contrary to this, has the recent recession shifted our focus on keeping what we have, rather than boldly going where we have never been before. Humans have a history of taking risks, however are we valuing the things as they are… more than the upside or the journey into the unknown. Our ability to assume risk relates to a clear understanding of our goals and purpose. The majority of humans spend our time, looking into the future considering what we might lose, rather than what we might gain! This is a counter productive way to live or run our companies… as without innovation (in our companies) and growth (in our lives – im not talking about money here), no business, no job or relationship (or perhaps mindset) will be safe for long.
We can clearly define and figure out a thousand reasons why we shouldn’t, the challenge is, to find and understand the 1 reason why we should.
I spent 4 years working with a CEO who managed his company purely driven by prevention and protection, avoiding all risk. In 4 years the word innovation was never mentioned. This is called prevention minded and is dangerous in shifting markets. What is true is that the world is changing and moving faster with business models shifting every day. The core principles remain the same, the channels however are continuing to change. During this shift, if you are the person who thinks only of prevention and not innovation then consider this idea… you will lose, maybe not now, but you will lose. The idea of losing market share if you don’t do something (specific) is usually a good indicator that we should. Find the balance.
The most cautious, conservative and protective among us will gladly take a risk, once you help him understand why it would be a greater risk not to.
Photo Reference: Remeber the Record Store. CD’s? How about DVD retailers… time to innovative or lose.