What role does your mindset play in being able to succeed in the New Next with all of its uncertainty, upheaval, and chaos? Stay tuned to find out. Hey, it’s Randy Pennington, and I am back to talk about how you flourish in your New Next. Don’t forget to hit the subscribe button and ring that little bell to never miss new content. Also, please leave us a comment, ask a question, or give us a like.
We appreciate it. Here’s the reality we are all discovering as we experience the uncertainties and upheaval of today’s world: There are a number of variables about your future that you can’t influence, but there is one crucial aspect that you can and must control – and that’s a nimble mindset and how you use that to drive positive action. The perspective and thinking you bring to the challenges of upheaval and uncertainty, and the change they require have a lot to do with the course of action you choose in any situation.
A rigid mindset that assumes a finite set of skills, knowledge, approaches, and opportunities for success dooms you to being a victim of the future. A nimble mindset, on the other hand, embraces the three requirements for success as you move forward.
A relentless focus on flawless execution today. An awareness of what’s just over the horizon that could present either danger or opportunity in the future, AND a willingness to anticipate and then quickly adapt, pursue, or ignore change to reach your goal.
The multiple focus on what works today and what is needed for tomorrow combined with that commitment to both process excellence AND creative thinking isn’t an easy one to pull off. On an individual level, our mindset and biases for action start developing at an early age. You can’t ignore the impact of genetics, and some people are seemingly born with the ability to seamlessly move between focusing on the details of execution and responding to new opportunities and change.
But there are other factors that made an impact as well. Our education and the messages we heard as children are important. So are our experiences and how they are reinforced.
Most important, our response to those experiences and the outcome of our efforts conditions us to the level of risk we are all willing to take in any situation. So, making this shift isn’t as easy as it sounds.
In organizations, the typical approach has been to separate the responsibilities of flawless execution today from those of innovating for tomorrow. That can work if you are a large organization, but even then, it can be a little clumsy. And invariably, the biases or influences at the top influences how your organization operates. If you are a small business without a R&D budget, you have to learn to balance the dissonance of competing priorities of execution and innovation. So, at the end of the day, it still comes back to individuals developing and reinforcing a nimble mindset that creates a bias for positive action.
The good news is that you can alter your mindset about how you balance the need for perfection and creativity. Netflix and its decision to move from its DVD-centric business to its streaming business is a good example. Reid Hastings has said that making that move was a tough transition, and yet, they pulled it off.
Ted Sarandos, the head of content for Netflix since the early 2000s, was quoted in an article 2018 for Variety saying: “We never spent one minute trying to save the DVD business.” And yet, Netflix continued to send out DVD’s to over 2 million subscribers in 2019.
So it is about a mindset that pursues the future through a lens of what the data tells you. Netflix knew that there would be a time when the cost of streaming was at or less than the cost of mailing those DVDs. And they were ready just as soon as it made sense. To start developing a nimble mindset, I want you to slow down to exercise control over your thinking, response, and action. Remember, you are the architect of your own experience and perception.
You can’t change the specifics of an uncertain world, but you can choose how you respond and act to flourish in it. Uncertainty, upheaval, and rapid change aren’t just the new normal.
They are the hallmarks of a perpetual state of New Next. And the truth is that has always been the case. But if you are over about the age of 15, you’re realizing that change is changing faster than you can ever remember it changing before, and it’s only going to speed up.
If you can’t adjust your mindset, you will never be able to adjust your behavior and performance. I’ll see you next time.
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