In this episode, we discuss how we can’t stop things from changing, but we can gain new skills to deal with them.
Full Transcript
Hi Everyone, welcome to the You’re Daily Cup of Joe Podcast, with your host Joe Bautista. In this podcast, my goal is to give you quick lessons that you can reflect on in your journal to grow yourself physically, mentally, emotionally, and spiritually and have a better career, better relationships, and better personal finances. At the same time, you enjoy your morning cup of coffee.
I’m also the author of the book “More You Know, More You Grow: How to Get Better Every Day.” In this book, I wrote down over 30 tips to help you grow in those four cornerstones. I’m also the Grow With Joe founder, where I combine self-development coaching and financial planning for Latino Professionals.
In today’s episode, we will talk about how we can’t stop things from changing, but we can gain new skills to deal with them. I grew up in the 90s, and I remember going to the grocery store to get photos developed. It was a surprise to see how the photos would turn out, but now that feeling is gone for me because, with my phone, I can see the photos right away.
A big issue with Kodak and its downfall was that Kodak thought it was a chemical company even though it was the first company to create a digital camera. They put that technology off to the side and started buying more chemical companies to add to its portfolio. Now in 2020, Kodak is not a relevant player anymore.
Kodak didn’t learn how to surf when the wave started coming in the new millennium. I remember quickly buying a digital camera when I started making money. It was so much more fun to see the camera right there on my camera, and I didn’t need to develop the photos because I could store them on my camera.
There was a wave of consumers moving away from the film because people could take photos on a digital camera, and now people take photos on their smartphones. There was no amount of advertising or new improvements in the film sector to keep consumers there.
There will always be a wave coming because of the hardest things for a society to suppress our ambition. Someone will see someone’s cash cow and then figure out a way to make the price lower, deliver it faster, or provide better service.
With my last company and financial advising, I saw a wave coming with how business was changing. I decided I needed to leave the broker-dealer world and start my own fee-for-service investment company. Earlier this year, the SEC came out with a new rule called Regulation Best Interest, which made it harder for broker-dealers to stay in business. Now people at my old company are complaining about how much work they have to do for the same amount of money.
I saw the wave coming, and I’m glad I learned to surf. I have to learn many other things, but I can delegate to other people down the road once I grow a lot bigger. It’s not extra regulation that is slowing me down. This is why I like to learn so much, so I can see which waves are coming. I don’t want to be blindsided by one if I can help it.
The news is not a good place to see where waves are coming unless it’s a niche new site like the Wall Street Journal or Chief Information Officer dot com. You have to listen to long-form podcasts on a specific subject to see which waves are coming. Now we can’t learn about everything, so I would focus on your specific field and what’s important to you. The key to this is to learn how to surf before the wave comes. Do this, and you will glide by everyone else.
And that’s it for today’s episode. To summarize it, you can’t stop the wave, but you can learn to surf. A wave is coming, and we need to constantly be working on our skills to stay ready when it actually comes. And if you’re doing the same thing, and you’re doing it because it’s always been done that way, then a wave is probably going to becoming. So learn different skills and work on building up your network to surf with a group of friends. In this new economy and future that we have, more waves are coming, so start training because we don’t rise to our expectations, we fall to training.
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Thanks for listening today! To get a free copy of my Audiobook “More You Know, More You Grow: How to get better every day,” go to my website growwithjoe.me/book, and you can download it right there.
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