Chief Change Officer
When I ask IFA’s to state their problem, the first thing most people say is GROWTH. I tell them “Growth is not your Problem; Growth is the Result of your Problem.”
Let us say I fail in an exam twice. The Result “Fail” is not the problem. The problem lies in this “Why did I fail?”. Is it because I did not study or work hard? The problem is always different. The real problem I failed is ME. That is exactly the same problem I see with most IFAs. We are the problem. It is time to fix ourselves.
Look at this Sketch.
Each and every component is changing at an Exponential Pace. Are you keeping pace with the speed of Change?
I read an interesting column in Business World by Prakash Iyer “The Bridge on the River Choluteca”. In the column, he gives an example of the Bridge over the river Choluteca, in Central America, Honduras. He says that a Japanese firm built a brilliant bridge that survived the most ravaging hurricane. All bridges were destroyed in 1998, except this one when Hurricane Mitch hit the region. 7000 lives were lost, the roads were swept, and the river itself changed course. However, this bridge stood there, an engineering marvel over Nothing and going Nowhere.
Our situation is exactly like this bridge. The winds of change have changed this industry forever and will change the industry further in the next 10 years.
It is time to be the Chief Change Officer at your Firm. Every CEO /CXO must assume the role of a Chief Change Officer or let your firm be swept away with the strong winds of change.
Charles Darwin’s quote should ring strongly in your head “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.”