Can “Experience” Actually Derail Your Transformation Efforts?- Keith Wyche
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Many times when organizations are undergoing changes, they look towards those who have the most experience. There is a certain confidence and comfort that companies gravitate towards in gaining insight from those who are professionals in the industry, company or organizations who have spent many years and decades performing in these roles. At a surface level this makes complete sense. However, is it possible that relying too heavily on those with “experience” can actually hinder or derail your transformation efforts?
The truth about experience is that it is most effective if the environment you are in doesn’t substantially change. However in today’s ever changing world, if new technologies are introduced, new distribution channels developed, or more non-traditional competitors enter the marketplace, the value of previous experience is diminished. In the book, “Think Again: Why Good Leaders Make Bad Decisions” the authors argue that one of the leading factors as to why bright leaders can make poor decisions is because of the over-reliance on “Misleading Experiences”. Misleading experiences for most are memories of past actions that seem similar to current situations, but can cause us to overlook certain factors.
When leading change and transformation it is essential to have individuals with “relevant” experience at the table. However, although you want people with experience it is equally important to have others with diverse ideas and perspectives involved. As we have seen, history is filled with companies that, while facing challenges, deliberately relied on those with only experience instead of a vast number of opinions. Did Blockbuster benefit from its video distribution experience? How did Circuit City’s experience in selling electronics keep it from avoiding bankruptcy? One could argue that they needed more expertise within their industry however, they could have benefited more by looking at:
- What are the “differentiating factors” that we need to better understand?
- How has, or can technological innovation help us to create sustainable value?
- How has customer behavior and buying habits changed?
- Who are the successful new entrants, and what can we learn from them?
There are many industries especially within the past few years with the pandemic that are faced with major decisions regarding their future:
- Will our customers continue to purchase our products and services or will they want new, customer-friendly delivery models?
- Will changes in technology make our platform and go-to-market strategy non-competitive or out-of-date?
- Are there two young adults in a garage somewhere building a new software application with features and functions that we’ve not even imagined?
Although no company no matter how good, has a crystal ball to help create an effective transformation plan, if they are smart and goal oriented will follow the below as well as asking the four questions above:
- Conduct an analytical review of the facts from multiple data points.
- Encourage healthy debate of the facts and the implications.
- Identify how past experiences can both help and hinder success.
- Don’t be afraid to engage others who may lack “industry” knowledge, but who can provide unique insights and perspectives, based on their diverse background.
The moral of the story is that experience matters in leading change and transformation however, it is not smart to solely rely on previous experience alone. It has to be looked at from both angles the reality of the present, and the promise and opportunity of the future.
You can view the original article here.
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Keith Wyche is a change management leader who strives to assist organizations in reaching their potential. With decades of experience managing billion-dollar businesses across several industries, Keith applies a holistic approach to sustainable and efficient change. Keith is an author and leader who advocates for diversity, equity and inclusion in workplace talent and in customers through bridging community gaps. His vast experience and skills allow him to turn around struggling organizations and create strategic solutions for the best results.
