In many conversations I have had in recent months with various business leaders, I have noticed an undiagnosed “symptom” that I would like to highlight. That “things will all turn out; we just need to be patient”. or for some of you, the old adage that ” ignorance is bliss”.
This crisis my friend is very different than anything we experienced before. It is distinctly different in the following ways (at least in my humble opinion):
It is global – Stop listening to your local news. Get your head out of the sand and listen to the national or international news. It will give you a broader and wider perspective. You may hear that which you do not want to, but in some instances you might just capture some good news.
It is fundamental – This time it is not just on the surface, it is at the core. It is questioning our way of life not just our actions and our financial system.
It is evolutionary – Resiliency, as important as it is, is not necessarily the answer this time around. Innovation, creativity, inventiveness and evolution, might be. I’m not sure your banker, your CEO and especially not the government knows what will come next. The truth is though, that if you are not part of the solution you are part of the problem. It is not your attitude (positive philosophy that is) that needs to change; it is your fundamental operating habits. It is what you do. Now.
It is social more than it is business – It is a radical shift from organizing and designing to serve the needs of the stakeholders to organizing and designing business to serve society.
It is here to stay – This shall not pass. There is no way for us to go backwards to what was comfortable and familiar; it is the nature of evolution.
It is not a financial crisis; it is socially economical in nature. The financial aspect is the outcome. It is a fundamental shift in our way of life and more than in the ways in which we spend, invest our money and manage our businesses. Consumer confidence is at an all-time low, not because of the credit crunch, but because people lost confidence in themselves. (If you are so bold as to tell the truth). If you want to hide your head in the sand, go ahead.
Don’t complain that you are being hit from the behind!
My grandfather’s generation had a very practical solution; “make sure you sell your products and services for more then you paid for them and do not spend more than you are making” – to simple for complicated minds, I say.
It is not a financial issue it is a common sense issue. You ether listen to the so called “experts “and yes everyone is an expert today (You know the same expert that got you into this mess is now telling you how to get out of it) or to basic human common sense.