Mindset shift is critical for operating in volatile times
The adaptation rate of new technologies like phones and TV’s was decades. For smart and mobile phones decades turned into years. And now those years turn into months. For example with the Internet of Things, we can check our health with Fitbit, and turn on the heating in our homes with Nest (and other devices).
However, the way in which we think and plan in business is still months and even years. It takes us a long time to innovate (new products and services have a very long incubation period), to change the business model and to respond to opportunities.
By the time we are ready, the market has already changed drastically. It is therefor that we need to change our mindset. We need to respond quickly, learn and adapt fast. Experimenting and prototyping should be the norm. The fear of failure should not restrict us. Even in the old model, most new product introductions were failures. And that was in a rather static environment. In this dynamic world we have to move fast, if we wait too long the circumstances will have changed and our response will totally not fit.
Are you willing to deal with growing uncertainty, change your mindset and learn faster than your competition?