“In a study of financial services executives, the more adaptable the individual, the greater their effectiveness is shown by revenue and sales growth. It’s no surprise that, in a constantly changing world, the data shows adaptability is an asset in leadership. It’s also at the heart of innovation.”
It’s a quote from psychologist Daniel Goleman, author of Emotional Intelligence, that kicked off a Monday morning presentation from Liz Schehl in at the 35Th NTSA Summit in San Diego.
Schehl, Founder and Principal of ESC Strategy, told attendees that a leader’s role has evolved.
“We are leaders of ourselves, our clients, our businesses, and our team, and we have to start thinking differently about how we manage that practice,” she explained. “We have to be able to anticipate if we’re going to encounter change. It’s most often unintentional and unanticipated. Uncertainty, legislation, all of these things will impact our business. I made a joke about writing down the number of times I heard the word change. I started to lose count after about 50 over the last two days. I said, “Well, that’s kind of an important topic to focus on.”
She implored the audience to think about the most important thing in their businesses, as well as alternative solutions to solve for it because the industry has changed.
“Most importantly, and this is something I can’t stress enough, we have got to take action,” Schehl said. “We always get all these good ideas at these conferences, and then we sit on them or put them on the back of the credenza, and that’s it. That’s where they go. The difference is we can’t afford to do that anymore.”
She then detailed a framework for action, beginning with their No. 1 priority for 2024, claiming there’s research that finds the more connected we people are to a top priority, which is their why, the more likely they are to succeed.
Top priorities from the audience included getting organized, achieving a proper work/life balance, and “getting a processor. There’s nothing but paperwork. All day, every day.”
She then provided attention-getting statistics about the pace of change, noting that in 20 years, the rate of change will be four times what it is today and will continue to accelerate.
“So, in 40 years, it will be 16 times what it is today. We’ll put it in perspective. If you are 40 years old today, by the time you turn age 60, one year’s worth of change will occur in just three months. Go back to February 2023 and think of all the changes you’ve experienced, whether it’s technology, personally, professionally, politically, or all of it. Imagine all of that happening in the first quarter of this year.”
She added that her daughter is about to turn 10 years old.
“For her, she will experience that same rate of change in eleven days. That’s basically Valentine’s Day. That’s unbelievable. We cannot afford to stay stagnant. We must anticipate, acknowledge, assess, and accept change. And most importantly, we have got to take action. So, are you ready for the next 20 years?”
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