Skip to main content

Want to enlarge your comfort zone? Embrace the NEW!

People and organizations respond better to the familiar than the new. One reason: "buying" something new is a step out of our comfort zone. After making a demonstration call on Bell's phone in 1876, President Rutherford Hayes said, "That's an amazing invention, but who would ever want to use one of them?"

Well, the problem with that approach obviously is we may miss out on new ideas and new stuff that could make life or business better.

So, there's really only one thing to do: step out of the comfort zone. Pretty soon we see that we've simply enlarged our original comfort zone!

Writing for folks on the sell-side, Jeffrey J. Fox and Richard C. Gregory (in The Dollarization Discipline) say, "The challenge when selling a new concept is to demonstrate to the prospective customer that, despite the apparent risks of leaving behind the tried-and-true, the new product will produce a financial return so attractive that the customer would be committing management malpractice by not -- at a minimum -- testing the new product."

Are we taking the time to explore the new? Or are we commiting "management malpractice"?

Comments

Popular posts from this blog

Explorer mentality Vs conqueror mentality

A fixation on competitors and on beating them is evidence of what Amazon's Jeff Bezos calls a conqueror mentality. In contrast, people waking up in the morning thinking how to innovate for the customer -- and having intense fun innovating -- is evidence of an explorer mentality.

The explorer mentality resulted in Amazon allowing negative reviews of its products. Reacting to this, a book publisher objected, saying "You make money when you sell things." But Bezos thought, "We don't make money when we sell things; we make money when we help customers make purchase decisions." So explorer mentality also demands a willingness to be misunderstood for long periods of time.

During his 16 years as CEO, Bezos' Amazon has delivered shareholder returns of 12,266% (industry-adjusted), and the company's value has grown by $111 billion. More in HBR Jan-Feb 2013.

M&A perspective: IT staffing Vs IT consulting

This report is a simple analysis by HT Capital -- a boutique investment banking firm in New York. It basically makes the point that being a staffing company (Vs consulting company) does not provide adequate returns to most investors, especially from an M&A perspective.

Peter Rozsa, co-author of the report, is a Senior Managing Director at HT Capital. He was also my "classmate" at a Columbia Business School executive education program. I have Peter's permission to make the report available here.

Click to download PDF report.

Corrupt media: lessons for better behavior

During the US election cycle, so-called "liberal" media outlets have been misleading the people of America and the world. They focused our attention on Trump's bad WORDS instead of on Clinton's bad ACTIONS. Even their polls and predictions were totally wrong.

Post-election, they continue to fuel division, violence, and racism.

US election reporting in India too has been hate-filled (Chidanand, for example).

In the midst of all this is a fresh, objective voice. Chetan Bhagat is not only an intellectual, but a rare truth-speaker. Here are 5 things he tells the elitist media:

You are not as smart as you thinkPeople are the keyUnfair criticism always backfiresDo not impose your views on othersGet out of the bubble.
Here's his original article.