Because of my background as an engineer, I like to be up to date about all sorts of new technologies and evolutions. The majority of those things make me enthusiastic about the future. Many 'new' technologies, like Virtual Reality, Augmented Reality, Artificial Intelligence, will have a big impact on how we live, work and lead. I realise that some people and leaders are a bit unaware or even scared about the impact of all those technological influences. Personally I'm not afraid of those evolutions because they also bring a lot of opportunities for businesses and society.
But, two weeks ago, I was on a seminar where the concept of blockchain was explained, and I have to admit that that was the first time when I really thought:
"holy crap..."
Read along and discover why we potentially must be very scared right now...
If you talk about blockchain most of the conversations immediately focus on Bitcoin. Unfortunately. Because that is actually only the first level of blockchain. The third level of blockchain is the level where the real changes will happen. In that level we don't talk about cryptocurrencies anymore. We talk about ownership in the broadest sense of the word.
Everything where there is a need to proof ownership, also data ownership, can be 'blockchained'
(if that is already a correct word ;-) ). And that will have a tremendous impact on business life!
Think about a process that runs in your organisation. Most likely it is a chain of steps where in each step someone (or something) temporarily "owns" something, does something with it, and then transfers it to the next step.
That's exactly what a blockchain can do. So that process can be automated completely!
This will give huge improvements in efficiency!
So I already hear you cheer loudly.
And for those processes that are running within your company it is indeed a big advantage. But don't forget about sub-optimization!
The processes that run within your company are most likely a part of a bigger chain that is spread out over different companies, linking the original source with the end-user.
If blockchain can take over your internal processes, it can also take over the entire process. Not only making your internal process much more efficient, but making the entire process extremely efficient! Not only eliminating specific process steps within your company, but eliminating entire companies!
So if you're in industries like banking, financial services, insurance, logistics, supply chain, or real estate, then you probably need to become a little bit afraid about your future.
Luckily there's also good news!
The things that will be eliminated by blockchain are not really value adding activities for the end customer. So if some of your processes (or your entire company) is threatened by blockchain, then that offers a brilliant opportunity to rethink the real added value of your process steps (or your company) for the end consumer.
And that's an exercise that every leader should do on a regular basis: clarifying and being very specific about your right of existence, meaning: why are you here and which added value do you really bring to that chain from original source to end customer.
As an Ambitious Leader it's not only important to know this on a company level, it's also important to know this on a personal level: why are you here, and what is your added value to the whole?
If you are very clear about what you want to bring to your company and to your people, then you need to live by it and radiate it daily.
A good way to clarify that for yourself, is to think about your legacy: what is it that you want to leave behind, and how do you want to be remembered?
Perhaps you want to be humble and don't want to be remembered. Well, let me be clear, this question has nothing to do with your ego, but has everything to do with your behaviour.
If you are an Ambitious Leader, then you need to be very specific about what that ambition is!
Because a goal is not something to go to, but rather something to come from with your own behaviour!
So start thinking about how you want to be remembered, and then start acting like that immediately!
And especially in industries that are under pressure of 'new' technologies, this question is very relevant. Because how will you -as a leader- master those technological revolutions?
That will probably be your legacy!
If you need a sparring partner to support you with these questions and reflect on your own behaviour, then feel free to book a 30 minutes (re-)connect session with me so we can have a look on what you need most.
Written by
Dennis Fredrickx, the Business Booster
Dennis helps Ambitious Leaders to reach more in an easier way.
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