Develop or Fade Out

January 27, 2022

That is the harsh reality of the business world today. With my experience of more than 30 years of coaching numerous businesses and individuals there is a pattern that notice.  

The Underlying Problem

I often get asked about what the latest trends are and sure, I can parade them for you even if you wake me up in the middle of the night. But the trends are never what companies ask me to fix. It's not what they have problems with. The problem is something else.  

It's the lack of desire to develop. Yes, you read it right. Let me explain.  

The Desire to Develop

For me, it is so incredibly obvious that success really comes from the desire to develop, it is this connection I often talk about. It's quite spectacular that the companies and the people that need me the least are the ones hiring me most. The companies that would need me are not knocking on my door. As I have been trying to wrap my head around this, I realize that there are some characteristics that the winning team have in common.   

A curious, trying and learning mindset is what I see as a trend in the successful people and companies. They always have these characteristics in common. You might reflect that these are just values and fluffy words and yes it can be but not if you do it the right way. Not if you make the words into a habit. Let me give you an example.  

One of my client companies has a curiosity account of 2000 Swedish krona per person where you can do exactly what you are curious to learn more about, after you have tried you get to share your experiences with the rest of the team. A win-win, you get to try and learn something new, and the others will get inspired. A brilliant idea in my opinion because it is creating a culture where everyone gets the chance to be experimental, open to try new things and at the same time get new insights. Additional to that they practice making "mistakes" as that is what we practice when we try out new things. All of this in combination becomes an unbeatable platform for development at a time when innovation and creativity are two of the most important competitive factors.  

Mindset is Key

Unfortunately, many companies and individuals don't open up to the possibilities of development. I do not blame them. I'm humble to the challenges of creating an atmosphere where development can flourish. But there are ways, and we at EMCAP would like to help you. It's a matter of mindset that the leadership in a company need to excel at.  

When you succeed with this you are set to follow any trend that comes about in the next century. You will never fade out but constantly develop.  

So, my question to you is are you trendy enough? 

Are you one of the people making the right decisions on the wrong facts?  

The ability to take data-driven decisions based on AI will revolutionize industry after industry. A trend I currently see in several companies working on revolutionary projects.  

The need is confirmed by Nobel Laureate, Daniel Kahneman in his latest book Noise where he elaborates on various sources of error in decision-making. He empirically substantiates man's inability to make objective decisions. In his book he shows how the same person simply makes different decisions on the same information at different hours of the day.  

Kahneman shows evidence that will take your breath away. What about the fact that judges judge differently on the same plead depending on if they judge before or after lunch or the interesting fact that a game is judged differently depending on if they won or lost their last home game. All of this is quite scary when you think of all the big decisions we make on a regular basis when running a company or a department.  

Add to that companies today often make decisions in group as a board or management group where you must elaborate with everything between 2-10 people involved in decision making. And the fact is that often enough the management don't have the knowledge or understanding about how to solve this. A problem I often see is the inability of groups to use the intelligence of the whole group if they do not use special techniques. They are simply too influenced by what individuals in the group think and say, so the collective intelligence in the group decreases and thus wrong decisions are made. We have to much trust in our gut feeling or our fellow collogues, and we don’t understand the consequences getting the right facts.  

Where should we get them then. Well, Kahneman states that in principle every simple formula or mathematical model beats the subjective human being in almost all contexts. 

That is why I believe we need to become better at making Data-driven Decision. We need to be part of the AI Based platforms of the future and we need to implement them as a good habit of our everyday life. My experience is that there are many who talk about themselves being data driven but rather few who do it for real. Making data-driven decisions is so much more than having, as they say, all the facts on the table. So my strong recommendation is to find out how to actually make decisions now for the sake of your future!  

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