Our human bias will (negatively) impact our business?

What was life like before we could ‘Google it’ to find an answer, get direction on our smartphone from various map apps or connect with friends around the world on Facebook?

Most of us forget that Google, Facebook, apps and social media sites have been around for less than 10 years. Although we marvel at the rate of change, we have trouble remembering what life was like just a short time ago.

The trouble is that despite knowing the huge change we have just been through, we tend to believe that how we do things now will be the norm (with marginal adjustment) going forward.

Most of us have a human bias towards the status quo. We don’t prepare to change until either we have no choice or the weight of the market or population forces us to adapt.

In business, the rate of change can render our business obsolete very quickly, particularly if we are set on retaining our current way of working.

The answer?

We have to prepare by creating far greater optionality in our strategy, systems and business models. Having a number of ‘bets’ that allow us to be flexible; to more readily adapt if the market or competitors take a different path than the current way of working.

I found the recent Forbes article interesting on ‘technologies that will blow up business’. To me it is not these technologies per se, but how they (and others) will impact the way we do business in 2015 and beyond.



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