Passing through Creative Destruction

It’s clear to me that in today’s business climate there is no such thing as security.  I think that employees are often lulled into a false sense of security when they should constantly be positioning themselves for their next role.  All the entrepreneurs I know are scrambling to figure out how to stay in business.

Andy Grove had it right, “Only the paranoid survive.”  I am also reminded of a saying I heard in a workshop presentation from 21st century mathematician James Yorke: “The most successful people are those who are good at Plan B.” (Yorke is renowned for his work involving the theory of chaos.)

As a client told me recently in an email exchange, in this market “companies ought to be reinvesting in themselves.”  I could not agree more and this is precisely what I convinced a client to do.  We’ll be working together on a revenue growth project that involves communication, presentation and sales skills but is much more strategic and much more hands on than anything I have done previously with The Henderson Group.

And the only way that the client agreed to pull the trigger was that the compensation is based largely on results.  So, if I deliver results, then the client will win and so will I.  If not, there initial investment is modest and they are exposed to very little risk.  This comp structure also motivates me to deliver results.

We are passing through a period of creative destruction.  As Wikipedia states, “Austrian economist Joseph Schumpeter popularized and used the term to describe the process of transformation that accompanies radical innovation (or change).  In Schumpeter's vision of capitalism, innovative entry by entrepreneurs was the force that sustained long-term economic growth, even as it destroyed the value of established companies that enjoyed some degree of monopoly power.”

It is not only companies that need to innovate; it is employees who must innovate to remain competitive in an increasingly competitive world.   As Thomas Friedman observed, “The World Is Flat” and we all need to keep reinventing ourselves to remain competitive.  The Internet injected Darwin's process of evolution and natural selection with steroids.

It’s time like these that we must learn to be comfortable in a state of uncertainty.

The following technique, couched in terms of public speaking, will help in ANY stressful situation when panic tends to take over.  I've used this technique when I locked myself out of the house, on turbulent airplanes, and on difficult calls with clients. Invariably, things go better and I make better decisions when I remember to do this practice.

1. Awareness
You become aware there is a problem – you catch yourself saying "um", you say the wrong thing, the media projector malfunctions, etc.

2. Practice Stillness and Silence
Stop moving and speaking. DON'T comment on what is happening with inane remarks such as, "I forgot my point." or "Oops – wrong slide!" No fidgeting, grimacing or nervous laughter. Just be still and silent.
This takes discipline and practice but will pay off in spades. The audience won't invest much import in whatever happened if you appear poised.

3. Breathe
In moments of stress, a typical reaction is to become tense and stop breathing deeply. The brain is the bodily organ most dependent on a fresh supply of oxygen. If you are not breathing deeply, your thinking will suffer. You will make poor decisions.

4. Think
Ask yourself, "How can I recover from this without making it seem important?" Even better, ask, "How can I turn this into an opportunity?" Often the most inspired moments in workshops and presentations were the direct result of a 'mistake'.

Once you've made a rational decision about how to proceed …

5. Speak

Taking a moment to become still and mindful is the best antidote to the panic that many feel when presenting.

“Difficulties are meant to rouse, not discourage. The human spirit is to grow strong by conflict.” William Ellery

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photo credit: mauren