Oftentimes the impact of change initiated by Big Companies are felt by the very people that helped them become big or helped them keep big. Be it the change in economy for example the current state of US or a merger for example the Kingfisher – Deccan merger or a change in environment for example the Kingfisher-JetAirways alliance in the offing – the effect will be felt most by people who were in the cause itself. This is even applicable to an introduction of a new product, change in compensation plans (of course lowered). Things change and will continue to change everyday. Who gets impacted? In all these situations it’s always the one’s who are left at the receiving end. We’ve all been there and will be there again. In the Unites States for example the effect of change is felt by the people manning the show, in Deccan by the people responsible for the low cost model that got them into the big game and so on. Lets understand this self pronounced ‘jargon’ called change. When change is the effect – meaning when change is a result of something (some of the above situations) the impact is usually negative. This change is usually brought about by losses, greed, economic forces or economic conditions or in some cases to appease the stock market or investors (reduce costs and increase earnings). There are few winners and few at fault as well. Most likely in this situation and as the situation is perceived to be today, most of us may likely be feeling the dark side of change, which is: Change is lose-lose situation. Change – Why ME? I am in touch with a lot of people and businesses at a personal level. What has surprised me (actually not surprised, rather disappointed) about my recent interactions with people is the way they are approaching the impact of all the ‘downturn’ talk. Most people are making statements like – the market is down, growth is gone, job market is pessimistic, order book is drying etc. I am disappointed because people are accepting all this. Yes it may be reality and reality bites! OK! But So What? When you ask people what are you doing about it? You know the answers – Cutting Costs, Laying Off People, Sustaining Strategy, Cutting Training, Cutting Travel, Economizing ……. You know why am I really disappointed about this – NOT one person mentioned to me that we are trying to identify a way to innovate and increase sales! Can you believe it? Everyone seems to be preparing for defeat so defeat it will be, then. Not that am saying they shouldn’t be doing all this and go bust – No – If that is all you are doing – we got a problem! There is another reason, though, why people may be defeated – Look, just a few months back, everything was fine. Everything was optimistic. SO what has really changed now? Yes a couple of industries have been affected. So What? India is still going to grow at 7%. I don’t believe that in our history over a three year period – the average growth would ever have been more than this. So where is the problem? How are we de-growing? Some say there is a slow down. Some say that profits are down and disappearing. Some say the liquidity is not there. Lets very briefly study these ‘some’ – There is a general acceptance of the fact that there is a slow down in the auto industry. A report in the newspaper today points out a significant growth in Indian made automobile exports. But of course we aren’t going to talk about it. We are preparing for slow down. I think we like it that way. Some analysts point out that the slow down in the auto sector is directly related to the increase in interest rates – So banking must be the problem? Right? – But banks say the numbers of defaulters are so high that they need to cover their risks? If defaulter is the problem – it certainly doesn’t call for a major economic upheaval – does it? Some also say that India is now a Global market and hence any reaction felt in the world will then logically be felt here. Isn’t there another way to look at it? We are a global market so shouldn’t it also be that any growth reflected in India should be felt in the world too, logically! Obviously not, who thinks that way.. Am not attempting to be naive here - Yes there is a problem, the market is not what it was a year ago. But market was not what it was a year ago even when the ‘growth wave’ started. Something happened to get the market there. That something was not words like Cutting Costs, Laying Off People, Sustaining Strategy, Cutting Training, Cutting Travel, Economizing. That something was “Lets do it” People to me seem to be ‘waiting to see what happens’ – Big Mistake. Why the hell will you do that and not make happen what you want to happen. Yes, you can’t change the whole economy – but you can and should very well change your own. There were companies who reported growth even in the depression of 1929 and we are no where near a situation as that. If you are waiting to see what happens – you don’t need any rocket science to make a prediction, I’ll tell you right now what will happen – You are basically waiting to confirm if your fears are true – and because you are looking for it, you will find the evidence that your fears indeed are true. You know already what will follow then. The great Peter Drucker once said, ‘The best way to predict future is create it’ – If the future that you are predicting, rather not even predicting is the one of waiting to confirm your fears – Guess what will you be able to create for yourself in that future – ‘Confirmation’ I know the questions that will crop in the minds of few – There is evidence, there is data, there is market reality, sensex is down from 21000 to 9000, foreign investment is pulling out and….. I say you are right. There is all of this. Personally, am not even questioning it. There is, however, more data – India is growing at a least 7% - our banking systems are still one the most assured – economists say service sector will be the most hit, government records report an ‘absurd’ increase in service tax collections – exports are up, growing, someone’s buying, demand hasn’t fallen – IT is still hiring at IIM’s – So is retail – SO WHAT if the financial sector is not . Yes the sensex is down and this might be a bit of an opportunity than a problem – Besides the interest rates on Fixed Deposits aren’t down, they never were! Did I mention earlier in the article about the negative effects of change being a result of greed, too? Foreign investment is disappearing. I’d again say that this is more an effect than a cause. What do you need the money for if you really believe that there in no growth? If you believe that there is a slowdown and communicate that, who is going to invest? The only point am making is this – If you are preparing for a slowdown – slowdown will show at your door. Isn’t there another way? Can you think of defying the slowdown and asking how? Is it possible that you may have the intelligence to get an answer? I am not referring to only the way companies are treating themselves. Individuals too. Am quite certain most of the people reading this are already prepared for little or no hikes. Some are happy to have a job rather than been laid off otherwise so obviously might not be expecting a promotion. The strangest reality is this – Your predictions, even though unspoken is and will be the truth – whatever the prediction may be. Lets assume for a minute that the fear is reality. No Pay Hike, Promotion etc is true because only for now it isn’t in your control. The issue isn’t this – the issue is expecting and accepting it. Obviously you can force no one to give you something that they might not have either. So what do you do? In simple terms this is what you do – Think abundance and ask yourself how? Rather than thinking like you have no other way. Henry Ford had said ‘If you believe you can or cannot, either ways you are right’ Here are a few alternative ways to look at change. Without getting into a detailed explanation of this I’d like to say one more thing – Both the descriptors of change mentioned above are self fulfilling. You may chose either one and experience it in the same manner. Here is the reality, the remedy, and a few personal rules to help you react to change: Instead of “waiting to see what happens,” do what is in your control – Do things to be the best – I can assure you the best of the people will still be getting a raise because they can’t still be lost. - A friend of mine, a hobbyist photographer, lost his job last month with an insurance company in Mumbai. Without wasting anytime in trying to look for jobs like most others were doing – Overnight he set up a website – put his pictures for sale on it – Put it on sale on ebay - Picked up his camera – started shooting more and more – Mostly wildlife. He tells me that whatever he put up for sale is SOLD. He is not nearly making the same money but he’s on his way and much better than those lined up in queues outside other insurance companies. He wants to get back to his job but not now, he says, he will on his own terms. Change will happen everyday. Don’t get nervous – get excited. There is one guarantee anyways - No matter what happens, the sun will come up tomorrow. If you are even a little bit smart then you will be coming up too. Fear of the unknown is always greater than fear of the known. However known is what you think is ‘known’. If you rather believe in the unknown then be assured it will at least become your known. There are no easy answers when you’re in the heat of the fire. Follow your heart, and your wallet will catch up even though a little later. India will grow by 7% is a FACT. Will you be a part of the 7% growth or the 1% that is disappearing from the growth? Almost strange, isn’t it that everyone is focusing so much on the percent that isn’t even there any more and hardly on the one that there is. Keep focusing on the one that isn’t there and you will have more of it, surely. However there is a choice. A choice to focus on what there actually is – abundance.
Change is eliminating.
Change is terminating.
Change is hiding or avoiding truth.
Change is disappointing.
Change is scary.
Change is de-motivating
Change is refinement.
Change is growth.
Change is movement.
Change is acquiring.
Change is upgrading.
Change is opportunity.
Keep your attitude UP: Rather than “this sucks,” make a plan for what can be done. Think of what you can do. If you believe nothing can be done – then get out and DO something else. You should have done this long back, anyway. Don’t accept it – Defy it.
Keep your thoughts focused on Doing your BEST: Big RULE – Even in slowest of economic times – no decent company will ever fire or lay off their best people. Guaranteed.
Keep your mind open to other possibilities: What would you really like to do? Why aren’t you doing that anyway?
Stay away from politics and pity parties: Odds are that if you’re dissatisfied with what is happening, so are others. Stay away from groaners, whiners, moaners and other assorted non-solution-oriented people. Waste of your time and energy. You will unnecessary replicate stupid beliefs. Talk abundance. Discuss abundance. Attract abundance.
BELIEVE. Your outlook on what can happen - will determine how you work. Faith in yourself and your circumstance will carry the day.
FINALLY ! When there is market upheaval, economic uncertainty, or merger, people tend to look inward and ask themselves, “Is my job safe?” For example Jet and Kingfisher did that just now – “Am I safe” and took appropriate steps. All of us do this and start playing internal politics or waste our day(s) making sure all is well. The biggest vulnerability in uncertain times is NOT your job – NOT you - it’s your customers. They are the revenue source that will ultimately provide your job security. Don’t guard your job – guard your customers. Serve them memorably. Sell them more. Keep them loyal. Your customers and NOT your boss, are your ‘change’ insurance, whether you are a company or an individual. Preserve them.