Mackey Advisors was pleased to host David Houle, www.DavidHoule.com for our Corporate Fall Education event. It is our goal to offer our corporate clients the best in innovative thinking so they can thrive and prosper. This is our fourth annual Fall Education Event, and David certainly delivered. Everyone left jazzed and with a bit of trepidation about the future.
After giving a review of the pace of historical change, David presents the current time as The Shift Age, a time when change becomes part of our everyday environment. In other words, the constant is change.
There are three fundamental forces in The Shift Age:
- The flow to Global. More than ever before, we are global citizens. We are personally impacted by global events as never before due to instant access on the Internet. Our problems must be considered and solved on a Global level.
- The flow to the Individual. The power of institutions is in decline. We no longer define ourselves by the institutions we belong to. We want our products and services personalized.
- Accelerated Connectedness. Particularly from the rise of the use of cell phones, we can be connected to virtually anyone in the world in just a few seconds.
Change equals disruption, confusion, chaos and a tremendous opportunity for wealth creation. But to gain wealth, not lose it, we have to lead with more vision than ever.
David gave us five attributes leaders need to use and master to navigate The Shift Age with success. Below are the five attributes along with my personal take on what we as CEO’s can do now to embody them.
- With the speed of change increasing, every CEO needs a daily, weekly and monthly score card. Historical and trending key performance indicators are a must. Your numbers will give you guidance on the changes needed.
- Know your core business and align your marketing with that core.
- Set aside time to work ON your business. As the CEO, you cannot adapt without being aware of the big picture.
- Lower your fixed cost, and keep your capacity strong by replacing those costs with variable costs. Design a business that can ebb and flow with change and be profitable on many levels.
- Monitor your liquidity. You must know where you cash is at all times. You cannot afford to be asset rich and cash poor.
Collaborative on-going reorganization
- Transform your business. If you have a buggy whip business, you can be the best one ever and still have no market.
Trust and change of “authority”
- Social media is here to stay. Learn it, love it and use it.
- Make your product custom and personal
- Adapt to the new work force; it won’t adapt to you.
The Morph Corp
- Know the emotional content of your brand and your intellectual property value.
- Treat your business like your greatest asset (it probably is) and look at what needs to happen to maximize its return on investment.
- Look global.
If you missed this event, I encourage you to pick up David’s book, The Shift Age and make time to read and understand the new future. We cannot afford to be complacent or static.
Natalie, Andy, Grace or I would be happy to meet you at your office or for lunch to talk about these changes and how you can ready your business for the future.
As your wealth advocate, we are committed to your prosperity, now and in the future. Onward!