Inflation is temporary.
Inflation is out of control.
Real estate is a great investment.
Real estate prices are going down.
We’re going virtual.
We’re coming back to the office.
We’re staying hybrid.
We can’t hire enough people.
We’ll soon be laying off people.
I could fill an entire page with the neck-snapping shifts in our society over the past few years, and it’s not my intention today to guess what will happen next. Instead, I simply want to pose this question:
What are you learning?
What are you learning about your own performance in the face of such uncertainty? Are you proud of how you have coped or have you made a few too many misjudgments? Do you have a plan for strengthening your ability to operate well in this environment?
What are you learning about your team? Do you see people differently today than you did a couple of years ago? Some people perform well when each month is similar to the last one, but they aren’t as comfortable when things keep changing. Maybe your evaluation of who is adding the most value has changed.
What are you learning about your strategy? To cite a simple example, just-in-time inventory seemed like a good idea until Covid hit and the supply chain started to break down. I’m not simply asking whether your strategy has shifted; I’m also wondering whether the process you use to formulate and update your strategy needs to change. Why? Because the world isn’t as predictable as it seemed in 2019.
What are you learning about working together? Conventional wisdom says that our society is becoming increasingly divisive and that we are focusing more on our differences than on our common interests. Do you have a plan for keeping relationships strong among your employees, customers, and partners? Are you a constructive force within the communities you inhabit?
There is always much to learn, but I’d like to suggest that is especially true today. If you remain curious and ask the right questions, volatile times are rich with opportunity and insights.