Sunday Post - Team in AI Era / Millennials

Read time: ~6.35 minutes

Happy Sunday!

Every Sunday I offer strategies for the week ahead and a thought to fuel your action.

Our world is changing. 

As we navigate the swift currents of change, it's evident that the way we have known the world will forever be different in the future. 

The principles we once clung to are being reshaped, challenging us all. But, in the face of change, we draw inspiration from tales of adaptation.

"Who Moved My Cheese?" by Dr. Spencer Johnson is a powerful read and one that resonates deeply with me. 

It presents four characters: Sniff, Scurry, Hem, and Haw, all in search of cheese—a metaphor for our quests in life. When their cheese disappears, their responses diverge. Sniff and Scurry venture forth without hesitation, embodying agility. Hem resists, entrenched in denial, while Haw, despite initial reluctance, chooses to explore new avenues. Their decisions become a powerful allegory for our times: adapt like Haw, Sniff and Scurry, or risk stagnation like Hem.

Domino's Pizza's transformation is a modern-day embodiment of this allegory. 

After going public in 2004, they faced a stark reality: their stock plummeted by over 50% in three years. In 2009, they confronted the uncomfortable truth—their pizza wasn't cutting it. 

In a move of Haw-like agility, Domino's reinvented itself. They shifted from being a pizza company to wanting to be a technology company that sold pizza. They broke down walls, inviting customer critique, and investing in technology that revolutionized their service—from mobile ordering to real-time tracking. Hackathons and incubators became their new norm, fostering a culture of innovation. While their new employees were developers, data scientists and IT specialists. 

This willingness to embrace change, to seek out new 'cheese,' paid dividends. By 2023, their stock had risen an astonishing 7,819%, dwarfing the Dow's growth.

Some may point to the fact that Domino’s had a clear sense of urgency for change and our industry doesn’t. We continue to grow and our industry is one of the few that can see revenues increase without adding a new client. 

But this falls into a trap that Jeremy Gutsche points out: “Successful people and companies overestimate their own control and command of the market.” 

If we think about it, our sense of comfort lying in our industry’s ability to grow independent of adding a new client puts our safety valve in the hands of something outside our control, the market. 

Many companies have felt the safety of their current business and felt in control of their market. 

Companies like Excite were dominating and turned down an opportunity to buy Google for $1 million. Myspace was a leader in social media and declined buying Facebook for $75 million. Western Union rejected Alexander Graham Bell’s telephone saying it was “idiotic.” And of course there is Blockbuster who turned down the opportunity to buy Netflix, three times, for $50 million. 

As humans, we have difficulty seeing a world that is different than today. We base our future perceptions on the knowledge and information we have today. 

We think linearly, yet the world changes exponentially. We can see this in just the way technology is adopted over time. 

(Source: https://www.pewresearch.org/short-reads/2014/03/14/chart-of-the-week-the-ever-accelerating-rate-of-technology-adoption/)

And so today we are facing this new advancement that is poised to change the way we know and understand the world. Artificial Intelligence (AI). 

AI is changing the way that people interact with technology, gather information, interact with companies and how internal teams service clients. 

With technological and generational shifts happening faster than ever, how might we, as an industry, Haw and not Hem. How can we mirror Domino’s progressive thinking into our firms? 

In Jeremy Gutsche's book "Create the Future," we find our blueprint. To thrive amidst AI's rise and rapid change, we must blend 'farmers'—the steadfast stewards of our current success—and 'hunters'—the visionaries eager to forge new paths. Traditional organizational structures prioritize farmers, whose discipline and loyalty keep the day-to-day thriving. However, to ensure long-term survival and relevance, we need hunters—figures like Sniff, Scurry and Haw, curious and bold, ready to challenge the status quo and pioneer our future ventures.

Incorporating hunters into our ecosystem means creating spaces where innovation is not just encouraged but expected. Spaces where, like Haw, they can seek out new 'cheeses' that may define our industry in the next decade. These hunters ensure that even if the landscape remains unchanged, the efficiencies and advancements they introduce will still propel us ahead of the curve.

With hunters in our fold, we are better prepared to pivot, not react when change inevitably arrives. It's the same dichotomy Hem and Haw faced: one lamented, the other acted. We aim to act.

This is how we ensure that, irrespective of the direction the world takes, we come out ahead. Like Domino's, we can transition from a Hem mindset to a Haw mindset, from playing catch-up to leading the pack.

By marrying the diligence of farmers with the dynamism of hunters, we don't just wait for the future; we create it. It's a story of change, a tale of transformation—ours to write.

A Thought To Ponder This Week

Lately, I've been contemplating the role of an employer.

For clients, it's about delivering meaningful value. For shareholders, generating positive returns is key. But when it comes to employees, what exactly is our responsibility?

Is it to foster their growth, provide opportunities, and instill a sense of purpose? I believe it’s all of the above. 

Our company should be more than just a workplace; it should resonate with a deeper purpose.

This leads to an intriguing question: Whose responsibility is it to find this purpose? Should employees seek growth and meaning within their roles, or is it up to employers to facilitate this journey?

Employers rely on employees to fulfill the company's mission. In turn, employees look to their employers to enable fulfillment – to achieve their personal and professional goals.

The relationship is inherently symbiotic.

Yet, when it comes to nurturing growth and embracing change, who takes the lead? 

We are currently navigating a workforce increasingly comprised of a new generation, with different needs and a different upbringing.

Which leads me to a thought for all of us to ponder as we head into the week; who should make the adjustments for a harmonious and productive relationship? Who should adapt to whom? 

The best is ahead!

-Matt