16 Oct The BIGGER you in a SMALLER world
Amplification has always been about extending an existing idea, process or eminent object into the broader universe of acceptance and adoption. For business owners, traditionally this has meant big balance sheet investment to capture the economy of amplification and usually reserved for the corporates. Given the scale of investment involved, evolution of adoption has been slow, visible and somewhat predictable.
Fast forward to today, a new paradigm is in town. According to Steve Vamose (bio at the end), every individual now has the power to amplify their potential. Whether it be in farming, engineering, commerce, the extension of capability is within reach for everyone depending on the propensity to apply the multiplier of technology with their experience, knowledge and execution know how.
Steve Vamos with Ian Robinson:Robinson Sewell Partners
The two things that we need to think about ALL THE TIME is the human element AND change.
The more technology there is, the more people matter. This is because it is the people who innovate and change, technology just amplifies it.
The key points to our thought process must entail the following;
- The world has changed. Yesterday is not the same as today.
- Change is the main game. If you don’t change then you are left behind.
- Change is hard. And change comes with transfer costs and mistakes.
- We must think differently. Especially the way we think.
Where is the Value?
The real value is inherent within the people within your business. This is the greatest asset. To place it in perspective, around 80% of the value of a company in the 1980’s listed on the ASX was in the accumulation of land, property and cash. Now, it only represents circa 10-30%. People’s knowledge and capability make up the remaining value. Imagine if you can create that leveraged value in a farming business?
It is the people that create value. People innovate and people connect with people.
The true value of your capability lies in the multiplier effect of what you know (knowledge) multiplied by the people you connect with. Knowledge is power, but it has no value if you cannot connect to the key people within your industry to commercialise it or act upon it. Increase your networks and increase your knowledge. Or just as commanding, bring people into your business that have both. This creates a bigger you in a smaller world.
In summary, curating and nurturing your network creates value in your business.
Change is hard because we are all human and fear is a real emotion. Fear is not a constructive emotion and it inhibits change.
Change is hard because past success and old knowledge creates an argument to prevent change. This concept falls into the old mindset of controlling the environment from which you operate, don’t make mistakes in business and always know the answer. Unfortunately, these thought patterns in the modern world can kill you.
The new mindset is care, connect and enable. Try new things and be willing to fail, listen and learn.
Bear in mind there is nothing that we are good at today than by the mistakes we have made and the lessons learnt along the way. Celebrate failure and learn the hard lessons.
As Steve aptly noted, be a “learned all” not a “know it all”
People’s view of the world is often instinctive based on emotional and cognitive biases. When it comes to borrowing from banks, a common narrative will construct an argument that will prevent positive change or applying strategic reasoning. Our view of banking is qualified, based on sound eternal experience within a professional landscape. Bridging those worlds is education and knowledge. An area that we are most passionate about.
Steve Vamos: Background
Steve’s celebrated career involves CEO of Microsoft Australia & NZ, VP and MD of Apple Computer Asia Pacific as well as being a non-executive Director of Telstra and Fletcher Building Ltd plus other organisations. His core philosophy is that technology does not disrupt, but people do. Technology just amplifies the potential of people.