Posted on January 27, 2012. Filed under: Business, Relationship Management | Tags: advertising, brand, change, market, name, options, rewards, risk, security, solution, tradition, trust, waiting game |
A big part of surfing is waiting for a good wave. You can spend hours before you get one.
On the horizon, you see it: the perfect wave. You start paddling, anxious to be on it, to feel the wind in your hair, the spray on your face. It reaches you, you can almost taste it.
And it fizzles out.
Back to the waiting game
When another wave comes, you are determined. You catch the wave and rely on the power of nature to propel you to shore. Riding into the surf, you’re enthralled. Now, you have a choice: you can go for another ride, or call it a day and lull in the surf, basking in the ride.
There is a natural ebb and flow. Businesses have the same progression. They catch the wave of a new product and ride it. They rely on the success of a product to propel them to the shore. If they don’t have another product to continue the ride, it’s over.
There are three types of companies: those that try to catch the wave but, for one reason or another, miss it; companies that actually make the ride; and those that watch from the beach.
Many companies are facing the issue of transitioning. Too many did not think long-term about what the changes in technology would mean for them. They were relying on their past instead of focusing on the future.
Every leader is trying to ride the waves of success. When they have a good ride, their leadership skills are exalted. But when they sputter, things get ugly.
Every wave rises and then falls. It’s just a matter of time. It’s no surprise that some of today’s leaders will not be leading tomorrow. A lot of companies have been switching their leadership, trying to find those with the best wave riding skills.
Without a crystal ball, it’s hard knowing where to go long-term. You don’t want to jump on one bandwagon to discover it’s already over. You have to do the research and find out what is going to be worthwhile. But you can’t take too long or you’ll find out you missed it. Opportunities have a lifespan, and you cannot let them pass you by.
Products have a short span. Living in real-time has made us expect things instantly. When I send someone a text message, I feel like there is a problem if I haven’t gotten a response within five minutes. Technology has changed the way we think about time. What once was measured in days is expected in minutes.
Vendors expect the same kind of response for their products. If something is not an immediate success, it is a failure. If a product doesn’t immediately wow, they see no reason to develop it any further.
What goes up must come down. But companies can control that. They can think long-term, creating a wave that will persevere. Or they get stuck playing in the sand.
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Posted on January 17, 2012. Filed under: Business, Relationship Management | Tags: bandwagon, chance, change, options, rewards, risk |
Every other week there’s a new band wagon to jump on. (Jump on mine! I’ll make room!) Maybe there is a new show to watch, or a new gadget to get. Some are going to fit and make you wonder how you ever did without it. Others will be mistakes that you later shake your head about. (We all have an ex that fits this category)
How do you decide which band wagon is right for you?
You jump on a wagon thinking you like where it’s going but, sometimes, things change. The axle breaks. You get stuck in the mud. A tree fell and you have to change paths and all you’re thinking is, “it’s always my wagon.” Maybe you shouldn’t have jumped completely.
Is your business going to go headfirst into a new venture? That can be dangerous to a bottom line.
The trick is finding out which toes to dip in.
A lot of companies have recently made leadership changes and the problem is: do they really know what they are getting into? It’s like ordering from a catalog, you might have all the information about the product but until it is in your hands, you really don’t know how it’s going to work for you.
Jumping in completely can be a mistake.
You might find that what you thought would be an answer was, in fact, the opposite. Oops.
Maybe you jumped in and then all your information got mangled in the transition. Oops.
Neither of these would have been so bad if the transition had been gradual.
Change is good. It’s a little scary, but what’s the alternative? Stagnation? That’s not a viable answer for any business.
While working at a design company, there was a lot of turnover. The company would remain the same but the liaison would change. Having been out of the business for three years, there is probably not a single person that I knew still in it. It wasn’t that they weren’t good at their jobs. They were, or they wouldn’t have been hired by the top national retailers.
In an effort to stay fresh and current with the market, these people were hired for one year at a time. Sometimes their contracts would be extended and they would stay an extra six months or a year, but it rarely went longer then that.
People are prone to complacency, and complacency is one step above stagnation. The market changes, you change. In an effort to keep these people ‘fresh,’ they were never able to get too comfortable.
Before you commit and buy a whole new wardrobe, try one shirt first. Before you run out and buy the cow, try the milk.
How do you know what you are getting into?
You don’t. Unless you’ve been there before, you just have to rely on the information at hand and your gut instinct.
Give it a gradual shot. The worst that can happen is you lose a toe. That’s why you have spares.
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Posted on December 9, 2011. Filed under: Business | Tags: rewards, risk |
This one’s for you and me…living out our dreams. We’re all right where we should be.
When I was younger my mother pushed me to take business classes. I wanted to take photography; she wanted me to take accounting. She wanted me to play it safe. As a typical rebellious teenager, I saw no fun in that and took photography. I did not grow up to be a photographer but I don’t regret that class. And while I may not be making any money from it, I do love taking photographs.
People both desire and reject ingenuity.
People like the idea of being ingenious and trying something new. But when it comes time to put something on the line, they balk at it. It’s a lot of fun until there is something to be lost.
We have a bias for uncertainty. It makes us a little nauseous, causes our stomach to churn. When we don’t know what’s coming, we don’t know how to prepare. If you don’t know the weather you don’t know what shoes to wear. And no one likes getting stuck in a downpour wearing flip-flops.
Why are we afraid to try things? We’re afraid the reward isn’t worth the risk.
Risk is more than just a strategic game of world domination. When it’s a game, where’s the risk in that? In real life, it gets scary. It’s the potential that a chosen action, including non-action, will lead to a loss or undesirable outcome. Why play the lottery? You might lose five dollars or you might make $100.00. People like the idea of taking chances, but they’re afraid of the risk.
Somewhere between nausea and excitement is where you’ll find me…
Risk is thrilling. It’s scary and a step out of the norm. It makes you sick to your stomach but also gives you wings. Things start out scary but might just end up changing your world in the best possible way.
You’re on the ride. You might as well open your eyes.
Sometimes risks are forced on you; sometimes you go out looking for them. Sometimes, not knowing what is going to happen is the best thing in the world.
I’ll be no worse off then I am right now and I might never get the chance again.
It’s not about taking risks. It’s about not being afraid to look down. If this is something you want at the time, you do it. Being afraid to take the risk will leave you in a state of wonder, and not in a good way. You will always wonder: could I have done it? Should I have? It’s easier to live with your self knowing you tried and failed then knowing you failed at trying.
If you want big rewards, you’ve got to take big risks.
If you knew you couldn’t lose, there isn’t a thing you wouldn’t do. But if you knew you couldn’t win, what would you still be willing to do?
For something you love, the risk is worth it. And you find out a lot more about yourself when you’ve lost everything then when you have it all.
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