Facebook has recently announced its new cryptocurrency which is called, Libra. Libra will be independent of Facebook and will evolve not only as a currency but a financial institution eventually. Facebook being one of the three tech giants, entered the cryptocurrency race and this is not surprising.
Governments and regulators are uniquely aware of the benefits as well as the concerns about the dominance of the big 3: wiping small competitors, disregarding regulations and rules, and imposing their heftiness on every one else.
When giants ruled the earth, a billion years ago, the rest of the species grew too. And yet in the era of uber-competition and massive technological race, it is really a zero-sum game- the swiftest with the mostest?
If the government can't battle with the billion-dollar corporations in terms of implementing regulations to support consumers' interests, where will the consumers go for protection, support, and welfare?
In geo-politics, the rise of the two superpowers 60 years ago culminated in the dominance of only one big superpower- the United States of America which became the 'accidental cop' of the world. Yet, regional powers have emerged with renewed vigor, upsetting the hegemony of a superpower using trade, economics, and partnerships to leverage their reach amongst other nations and impose their interests.
This echoes what has been the current narrative about it: it is good when it is benevolent and moral, and it's really bad when it acts like an evil empire- which can be embodied in one organization at any given time.
Scarcity mentality in people is very dangerous. And if applied in organizations, it is doubly lethal.
It can cause organizations to be reactive, defensive, and insecure, hoarding the little asset they have thinking that it would protect them from the ravages of change.
With little that they have, they are afraid to invest in strengthening their core and increasing their value, thereby getting stuck in diminishing returns.
They are not ready to innovate, experiment, take prudent risks, change anything substantial because they are afraid to lose.
Being afraid to lose instead of going for the win is what separates the winning organizations from those that have decided to stay behind and wait.
Have you heard lately? People in organizations say beware of the consultants. They borrow your watch and tell you the time!
There is a reason for that. From top 5 consulting giant firms, to any Tom-Dick-Harry, everyone is saying they are consultants. From coaches, mentors, palm readers, salespersons and marketers, suppliers, computer geeks, web designers, coders, and anybody that is a solo business owner, they call themselves consultants too!
Well, there are management consultants, technical consultants, executive coaches, psychological counsellors, legal advisors, and many more are plenty around in different professions.
The marketplace is field with consultants of various stripes and colors, peddling different sorts of solutions based on various formula and potions.
Nowadays, there is a bit of cynicism about consultants because not all are good, not all are ethical, and not all could make it in six-figure take home income.
There may be hundred of consultants in one room but there is a huge diversity in application, in background, in skills set, in expertise, in geographical, sectoral experience, and many other essential variables.
It is up to the discerning client or prospective client to figure out the fake from the true ones, filter out the noisy from the substantive elements, and engage those that have actually created real value to comparable organizations in this sector. This is not a daunting task and more and more organization need that extra third party, objective, external validator, verifier, sounding board, advisor to accelerate your growth goals to the next level.
-Check them out. Get recommendations and references from previous clients.
-Know what you really want to achieve in every transaction. Just like any partnership, it should be a win-win proposition.
-Does this person have the credibility, integrity, expertise, and connection that you need? Are there things in your list that are a must or good-to-have?
-Don't go around shopping for the cheapest one. Price is not a predictor of value. Look for quality, value, and undisputed credibility in the field.
Whether you are buying a training material, planning a company retreat, or designing a performance management program, know you needs versus what your want. This will save you lots of time, effort, and troubles.
Take it from me. I am a consultant.
You might have heard 'business is a contact sport.'
No amount of preparation will be enough once you get punched in the face.
Then the rest is up to your training, background, experience, insight, prior knowledge, and correct assessment of the situation.
Using common sense, learning on the fly, being adaptive, flexible, and creative will get you through some of the business challenges that are out there.
When you know that things that are coming and did not prepare, you deserve a kick in the butt.
But some things come from nowhere and will leave you totally unprepared. These types of scenario are the ones that no amount of preparation will be sufficient.
Take heed, learn everything you need to learn, and take counsel from those that have been there and been successful, not the armchair advisors. To mitigate the risks and weather the storm, your present response matters a lot.