Five Keys to Ensure Professional Relevance

While we may give voice to the first three there is no doubt we are also concerned about our own roles and our own capabilities This hold true whether we work in a company of a hundred thousand or are selfemployedBusiness ModelsThe past decade has made clear to every business and individual that the biggest threats and opportunities to any business come from outside our category or competitive set The moment one benchmarks only against current competitors or historical performance and cost data one has begun a slide into irrelevanceDollar Shave Club came for Gillette Google came for the newspapers and classified advertising Tesla and Uber came for the auto industry Netflix and Spotify and Substack came for the content industry Mark Cuban Cost Plus Drugs is coming for Anthem United Health and other PBMs None of these were spotted or taken seriously till they did significant damage to the leadersCompletely new ways of marketing in a world of empowered purposedriven people innovative experience and datadriven storytelling is challenging every marketer and agency and media companyDo not ask for whom the bell tolls and what AI Blockchain ARVR and 5G are coming for Go here to read about how real 5G is already changing experiences and expectations when it is deployed in private networks They are coming for all of us but they are also coming to help us reinvent and turbocharge ourselves our companies our growth and our futureWe are in reinventing times To reinvent we should consider the blank sheet of paper exerciseIdentify a challenge or opportunityAssume we have every asset we currently haveDo not constrain our solution except that we need to keep within the law what is technologically possible today and some goal to break even or show results in x monthsEvery team that does this exercise will come up with amazing ideas to address challenges or opportunities and will realize that most constraints are selfimposed If we do not do what we have imagined we can to address our challenges and seize our opportunities to reinvent someone else will and they will clean our clocksOrganizational StructureThe future does not fit in the containers of the past Most companiesamp8217 organizations and incentive systems have been optimized for their past or existing business rather than the world we are moving into If we want people to work together but we measure how our individual units do we will not gain collaboration If we want people to think multiplatform and multimedia but we promote and incentivize magazinepage sales or radio or tv inventory we will fail to transform If we try to manage tomorrow and today with the same teams we will have a diluted today and a noncompetitive entry into tomorrowIf we delude ourselves in thinking scale marketing spending brand and access to resources create a moat we will find that what we have done is build walls and laid the seeds of selfdefeat in a world where data ecosystems ideas talent and access to modern marketplaces are the new scaling drivers In addition today we also have to design organizations that incorporate inperson and remote teams and grapple with how to combine and integrate and set expectationsAnd if we blame Wall Street quotmanagementquot or some other factor no customer or client will really care It is just fear and bad leadership Companies and management that thrive bend structures and processes to adapt to change Change and marketplaces do not bend to fit our yesterdayamp8217s shapes and business modelsAt minimum consider a model of quotschizophreniaquot Develop a team to optimize for tomorrow with its own specific goals and incentives while focusing the rest of the organization to maximize today with their own goals and incentives Both teams report to the same management and are aware of each otheramp8217s goals and can swap talent and resources as necessary but need to focus on their goalsPartnering EcosystemNo individual is an island and no company in a connected world can prosper without great connections to other individuals or companies whether they be suppliers partners sources of talent technology and other platformsIn a world of Amazon Web Services Azure Shopify Open Ai Upwork etc which are bring new sources of solutions talent and scale while at the same time every service provider is upgrading themselves to remain competitive all of us need to ensure that we have the best people the best processes and the best value as we partner with the marketplaceAll smart managers are asking if we are investing enough in upgrading and resourcing talent If we work for ourselves are we investing enough in ourselves Are we ensuring tight coordination with our partners and suppliers Are our external resources constantly iterating and improving to help give ourselves and our companies an edgeManagement RelevanceToday managers are buffeted from every direction There is a quotdelayeringquot mania underway as companies try to find cost savings and increase agility to cope with transformational times This is most acute in technology companies where between twenty and twenty five percent of employees have been let go with a particular emphasis on midlevel management and anyone who is not a revenue contributor or a maker builder and creatorAt the same time there is a deepening generational mindset divide with many GenZ youth holding senior management in low regard wondering what they do and contribute besides allocating monitoring and delegating while senior management looks askance at middle and lower management who are refusing to work quothardcorequot painting them as crybabies and softies who need a kick in the pants and a dose of realityEvery individual and manager can continue to be successful in a transforming world The issue is how to see think and feel differently and then execute iterate and improve to remain relevant Provide personalized guidance and nuances versus mandates Be a coach versus a boss Communicate clearly and be transparent versus thinking that information and data is power And be open to receiving and giving feedback including recognizing the turd on the tablePersonal RelevanceThe scale and rate of technological demographic mindset and global change The Four Shifts means the halflife of knowledge and skills is growing shorter and shorter This places a premium on having to learn new skills while simultaneously unlearning skillsTake any senior or middle manager for drinks and sooner or later you will discover we are all struggling with how we can add value to a world which seems to be so different and alien The competitors are different the category dynamics are changing the talent landscape and the workspace seem to be shapeshifting in ways we do not recognize At the same time the workload is increasing the expectations rising and change which sucks is coming so fast that we cannot a hope to wait it out until we retire b have the time to manage our today while preparing for our tomorrow c fake it with buzz word bingo AI Data Lake Personalization Platform Strategy Disruption or d play for time by launching task forces or hiring consultants to do landscape overviews competitive benchmarking and scenario planning which everyone else can see and we know ourselves is nothing but doing the 3D dance of delaying dawdling and ditheringCompanies do not grow or remain relevant unless managers grow and remain relevant Every individual is a manager in that they manage themselves We will all spend the rest of our lives in the future which begins as early as tomorrow so we must find our time today to prepare for tomorrow or there will not be a tomorrowThe future is bright for all of us in what may be the most exciting times All we must do is upgrade ourselves to continue to remain relevantAIVolution of CultureClearly remaining relevant will include staying on top of AI One of the boards I serve on is at a company called Quilt Ai and they are holding an incredible event at The Times Center in New York City on September 6 2023 where they will bring together marketers storytellers builders and technologists to understand the fundamentals of AI and discuss the integration of it into their business and how to use it for goodQuilt has provided me with access to a limited number of free tickets for people who might want to attend Speakers will include the Chairman of the Editorial Board of The Financial Times an Oscar nominated director the head of a major museum fashion leaders pioneering CMOs and technologists Everybody will get lots of free books content and software subscriptions You can read about the event and sign up by clicking here and get in for free with my code rishadxquilt There is a limited number of free passes so do sign up if you can be thereIt will also be streamed globallyPosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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Five Keys to Ensure Professional Relevance

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Rishad Tobaccowala

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Five Keys to Ensure Professional Relevance

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