Failure to Adapt

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FAILURE TO ADAPT 

One of the most common decisions entrepreneurs and business owners will need to make at some point of their journey is this, Do I persist, or do I Pivot ? 

Coming up against obstacles, setbacks, feedback from customers, investors or the market may be such that current direction or vision may need  to be reviewed based on the results or feedback being received 

Eric Ries in his International Bestselling Book  The Lean Start Up explains the importance of this in what he describes as the BUILD- MEASURE- LEARN FEEDBACK LOOP (See image above)

The intention behind this model is to :

*Test and measure your product or service offering  

*Review the feedback and results that you are receiving 

*Determine whether you need to keep going despite setbacks or disappointments 

*Alter it in some way and then continue

*Totally Change direction or Pivot 

*Give up on the idea entirely 

The ultimate objective of  to model is to progress  through this as rapidly as possible  so that you are able to adapt to information and results received. A failure to do so, or being slow to adapt, increases the chances of misreading the customer or market needs and demands, and this increasing chances of failure.

This applies not only with start up entrepreneurs and new businesses. Many large and long established companies like Kodak, Block Buster Video and RadioShack failed to adapt to a changing business landscape and competitor product and service offerings and this ultimately lead to their demise 

In the Kodak example there is evidence that Kodak was in possession of the technology very early on that lead to them being overtaken, and that ultimately lead to their demise, the bigger question that comes out of this is what prevented them from adapting?

What does prevent people from adapting ? 

We have been conducting research and studying this area for some time through our coaching, mentoring and interviewing entrepreneurs and business owners and their teams. And we are passionate about studying some of the most successful people in this area on the planet. What our findings  and research reveal to us is that some of the most common reasons that prevent entrepreneurs and and businesses from adapting to information and feedback  are :

  • Fear of making the wrong decision

  • Lack of Knowledge and skills about what to do

  • Ego - not being open to views or results that are contrary to their view

  • Insecurity

  • Immaturity

  • Fearing conflict with other members of their team

  • A lack of emotional intelligence

  • A lack of self awareness

Armed with these findings, and the needs of our clients, we have been working to develop a model of coaching and support to assist them through these key decision making stages 

Far too often, decisions have been made impulsively, spontaneously, and in some cases key decisions have been avoided all together.  By navigating entrepreneurs and business owners through these key steps, it is our intention to support them to make better quality decisions, develop situational awareness and increase their chances of success. 

We are excited about introducing new programs and product offerings in this space.

Jim Karagiannis

Coach

LUX Consulting Group

Who do you become in a tough environment?

Have you ever wondered how you can stay grounded, and lead your team with confidence and certainty, even when the rate of change is happening so fast, that you are having trouble keeping up?

This is one of the most common scenarios we see with both entrepreneurs and businesses owners, and the question that invariably comes up in such situations for them is “ Who do I need to be, or become in this situation?”

First used in 1987, drawing on the leadership theories of Warren Bennis and Burt Nanus and later used within the military an acronym V.U.C.A. started to emerge in discussions and communication to describe the “fog of war” that is so common in battlefields.

V.U.C.A. is an acronym – to describe or to reflect on the degree of

  1. Volatility

  2. Uncertainty

  3. Complexity and

  4. Ambiguity of general conditions and situations

And whilst such an environment would be incredibly stressful for some individual, others thrive in such conditions.

Many of our coaching clients who are entrepreneurs, and businesses owners who have experienced rapid growth in their companies face situations where there are so many moving parts, so many unknowns. They are are in a classic VUCA environment.

So in these situations, the focus becomes less on what I have to do to react to the demands placed on me, and more to:

Who do I need to become in this moment, in order to move forward with as much confidence and certainty as possible.

And if there were specific skills sets that would support your leadership and decision making under such situations, some of them could include:

  • Situational Awareness - Having a clear understanding of what is going on

  • Being totally Present, and Focused

  • An understanding of your own Thought processes

  • Intuition - Trusting that thought, voice or feeling within you without reasoning or perception

  • Learning Agility - An ability and willingness to learn from all types of experiences

  • Adaptability - A willingness to Change in order to Adapt to different conditions

  • Managing your Emotions - Responding from your most empowered state rather than acting from a place of fear, doubt, frustration and anger

We are currently immersing ourselves in this exact topic into via a research project designed to help the entrepreneurs and business owners we work with identify and harness their decision making and leadership skills.

By interviewing, studying and researching individuals who have thrived in such environments, our intention is to break down, and code the specific skill sets they use, that if employed by others would accelerate their capacity to experience such confidence and certainty, and invariably help them thrive in such VUCA environments.

We look forward to releasing our findings, and launching our training programs and mastermind groups in these areas. Stay tuned for more information.

If you would like to know more about this specific new offering, please feel free to contact us to discuss.

The Stories We Tell Ourselves

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What story do you tell yourself? About your own capabilities, your level of worthiness to succeed, to be loved, or to live your life exactly the way you desire?

Does the mere question about the stories you tell, create a level of stress or anxiety for you?

Irrespective of what age, gender or level of success someone may have achieved to date, the stories they tell themselves about how life works have impact. The stories about what they deserve, and what things mean, can either accelerate them to a life of their dreams, or hold them back, never experiencing all that they are capable of.

Do these sound familiar to you?

Are you too OLD? 

Too YOUNG?

Too TALL?

Too SHORT?

Too FAT?

Not experienced enough?

Not ready to begin?

Scared of how you may not be good enough?

Not WORTHY

Or , do you find yourself regularly repeating a variant of the following statement

I am not______ enough!


If that is the case, it may be an indication that your thoughts are driving your reality by creating a story or a movie in your mind that when played over, and over and over becomes a self fulfilling prophecy.

Our fears, doubts, judgements and opinions set in to play a series of thoughts, ideas, and recurring beliefs about what is possible, achievable or whether we are good enough to really live the life of our dreams. 

These thoughts originate in the reptilian or primal part of our brain, and are designed to keep us safe however left unchecked and unchallenged, they also bind and shackle us and keep us trapped in our comfort zones.

But what if we told ourselves a different story?

What if we acknowledged these fears and doubts, and acted in spite of them to create a new and better reality?

What if by telling ourselves a different story we were opened up to a whole new world of experiences and possibilities that helped us fulfil our true potential and leaves us filled with joy? 

This is possible.

It all starts with a decision to change, and replacing your thoughts with new, more empowering beliefs about yourself.

Begin telling yourself a different story, and allow this new story to drive you towards a greater level of success, one step, at a time.

Blog By Jim Karagiannis




Searching for Purpose and Happiness

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Three of the most common themes and discussions we have with our clients are in the area of their Ultimate Purpose, Success versus Fulfilment and Happiness.

These topics come up regularly because some people find that they are incredibly successful in certain areas of their life, for example career and finances, and yet feel unfulfilled in others such as health and personal relationships.

In delving into this topic further, there is some great wisdom, direction and guidance from the field of positive psychology. Here we see the interrelatedness of these topics, and some practical steps towards finding the harmony that supports us to feel fulfilled and happily achieving in more areas of our life.

Martin Seligman the author of Flourish:, A Visionary New Understanding of Happiness and Well-being suggests combining 5 Elements to create a life worth living 

  1. Positive Emotions - reframing our thoughts and focusing on areas with a more positive intention

  2. Engagement - immersing ourselves in our activities

  3. Relationships - nurturing and developing quality connections with others 

  4. Connecting with a sense of meaning that comes from serving a purpose larger than yourself

  5. Focusing on accomplishments - both short term and long term that both reward us regularly and have us working, and stretching us to keep growing


When these 5 areas are incorporated together, Seligman believes they help us achieve something greater than momentary or overall happiness. He suggests that they ultimately help us achieve an outcome that he refers to as Well-being


Another author in this field, Jonathan Haidt author of the Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom, has a slightly different perspective. He argues that purpose and happiness are not necessarily found in positive emotions of momentary happiness. Or by focusing only on the happy memories of overall happiness. He suggests that the following 3 elements be considered

  1. Develop the “right” relationship between yourself and others

  2. Nurture and develop the relationship between yourself and meaningful work

  3. Connect and invest yourself in an activity or a cause that is larger than yourself


Haidt suggests that once you have done this, it will ultimately allow a sense of purpose and meaning to emerge which may lead to the most genuine form of happiness available to you.

Researcher of positive psychology, Jordi Quoidbach P.H.D, after interviewing 37,000 people in 2014 introduced the concept of Emodiversity

Emodiverstiy is defined as experiencing a wide range range of emotions. This means that we allow ourselves to feel the full range of emotions that are experienced in life. This would apply to both positive or painful emotions and the idea being to experience the full range without trying to suppress anything. In his study, Haidt found that greater levels of emodiversity predicted higher overall levels of health and well-being.

So here is a summary of the above.  We can use this as a  guide to assist us succeed, feel fulfilled, and feel a greater level of happiness.

  1. Finding activities, careers and endeavours that are meaningful to us.

  2. Fully Immersing ourselves in these meaningful areas.

  3. Nurturing quality connections and relationships with others.

  4. Allowing ourselves to experience a full range of emotions and not suppressing emotions that are uncomfortable.

  5. Finding a healthy process or strategy to deal with these emotions that are painful or uncomfortable will improve our health, wellbeing and happiness.

  6. Avoid suppressing any one emotion,  because in doing this you are numbing yourself to all the possible emotions.


References: 

 1. Flourish: A Visionary New Understanding of Happiness and Well-being

Author Martin Seligman

2. The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom

Author Jonathan Haidt 

3. Jordi Quoidbach P.H.D https://www.ncbi.nlm.nih.gov/pubmed/25285428


Blog by Jim Karagiannis


Questions that Create Change

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Questions that create change. Challenging the status quo.

What conventional wisdom is prevailing in your industry, career or business that if questioned, could potentially open up a range of opportunities and/or possibilities for you?

It is a question that was the theme of a consulting call recently, where we explored the impact of a level of established thinking, and the effect this was having in growing a client’s business. In the consultation we discussed the impact of the thought  “this is how it has always been done in our industry” was having. And the impact in how this particular client was navigating a series of obstacles that they were facing, and coming up with solutions that allowed them to regroup, pivot and move forward. 

It is this ability to challenge the status quo, and dare to ask tough questions of ourselves that empowers us to face challenges. By asking these questions about how we go about our life and our businesses for example, we may open our minds  up to solutions that were not possible to us with our previous level of thinking.

Author Michael Lewis Money Ball : The Art of Winning an Unfair Game which went on become Hollywood movie highlights this..

The central theme in the book focuses on one professional baseball organisation's unusual level of success despite its limited financial resources. It highlights the advantage to be gained by thinking creatively when evaluating talent and incorporating innovative thought-processes into budgetary decisions. 

In the early 2000s, Billy Beane, the general manager of the Oakland Athletics baseball team, and his assistant, Paul DePodesta, came to the conclusion that professional baseball players were evaluated according to a system that often gave a misleading idea of their actual value to a baseball team.

By using a history of sabermetrics—the practice of using mathematical and statistical analysis to analyse the game of baseball, they were able to identify players with valuable traits that were overlooked by other general managers and talent scouts. Through this process they could assemble a team that went on to make the playoffs, and at one point win a record-setting 20 consecutive games .

This willingness to ask different questions of conventional industry wisdom has also been used in business. Whole industries  have been ‘disrupted’ when established ways of doing business were challenged. This has lead to  multi- billion dollar companies who offer more efficient solutions to customer problems..

This is the kind of thinking that has lead to the creation of Uber - a transportation and food delivery company that does not own any vehicles. And Airbnb - an online market place and hospitality service focusing on leasing or renting real estate, without the company owning any real estate.

Just because things have always been done a certain way up until now, does not mean that that is the only way things can be done. By questioning foundational principles and accepted thinking, we open ourselves up to solutions that may be better, faster, cheaper, more efficient, profitable or personally fulfilling.

So, what would happen if you asked different questions in your world?


Reference:

Michael Lewis 

Money Ball : The Art of Winning an Unfair Game

Blog written by Jim Karagiannis