Are you ready for the new marketplace?

Author of ‘Practical Steps to Financial Independence’ and personal finance coach, Usiere Uko, writes about getting ready for the impending changes in the market place

Technology is driving changes in the marketplace at an increasing speed. A lot of the things you see today, you will see them no more. They are already history. This may include your job or business. I feel concerned about the fact that most people seem to go about business as usual. They don’t foresee danger until it knocks on their door. If it is a hurricane; your guess is as good as mine.

About a month ago, I had to leave my car at a workshop and took a taxi home. The taxi driver that eventually picked me was the chairman of the taxi stand. He almost went on his knees begging me to patronise him. Along the way, he lamented bitterly how he had lost weight because business had been very bad because of Uber.

It is not only happening to the taxi business. Change is happening everywhere. Many have yet to see it. Business models are being disrupted. Electric cars are here. It is a now common sight in some cities abroad. When the price comes down to a level, people stop buying petrol and diesel cars. It will be much cheaper to run an electric car. There are health benefits also – zero air and noise pollution.  Big oil companies are already positioning themselves as energy companies. A smart oil company worker needs to do same.

Banks are moving online. I can’t remember the last time I visited a banking hall. I have not touched my cheque book for years. I pay everyone who does work for me by bank transfer, including artisans. I hardly queue at the ATM. I use my card. Banks have slowed down or stopped branch expansion. Many are closing down some branches. Customer service is moving online. Call centres are open 24/7. Bank workers do not need to wait for their sack letters before re-tooling to become relevant in the new economy.

I can go on and on, restaurants, hotels, shopping, you name it; the wind of change is blowing. If you don’t lift your head up and look far ahead, you may become part of the debris left behind by change.

Preparing for a world that no longer exists

A major challenge is that most of us still have the industrial age mindset. We virtually bankrupt ourselves, sending our children to good schools that prepare them for a world that no longer exists. Most of our skill sets have become obsolete.

The world of working for money no longer exists. You have to start bringing yourself to work, instead of leaving your passion behind at home. Your job and what you love doing needs to come together. Many of us make decisions on further education based on how viable we think the qualification is. We ignore who we are and what we are capable of achieving. We fail to figure out how we can use our gifts as a tool to make our own unique contribution to the world. Many end up acquiring skills that will soon be obsolete.

Taking decisions based on what you see today is unwise. What you see today is the manifestation of yesterday’s thinking that is passing away. What you think you are seeing may actually not be there. Let me explain.

The invisible ‘X’

What I am about to share is a true story of someone who invested in what has passed away. I will call him Tony. It also happened to Lot in the Bible when he chose to settle in Sodom. It is still happening today. Tony bought a piece of land in Lagos that was under government acquisition. There was an invisible ‘X’ on the land, but he couldn’t decode it due to lack of due diligence. He was so happy to acquire land at such a good location for such a good price.

He did not bother to get building approval either. That will slow him down. He built a mansion and moved in after a lavish house warming party. Several years later, he got a notice from the state government to vacate the property within a certain time. Tony started looking for a way out. He was still running helter-skelter when the bulldozers and mobile policemen arrived at the area to enforce the eviction notice, levelling his edifice. He could hardly get anything out aside from his family, important documents and electronic devices.

The demolition happened the day the government acquired that land, long before Tony bought it. There was a big invisible ‘X’ marked on that land. The demolition manifested the day the wrecking crew showed up. As we saw with the hurricane, it is better to evacuate before it makes landfall.

The same thing happened to Lot in the Bible. When Abraham asked Lot to choose the land he wanted, Lot must have salivated when he beheld the lush greenery of Sodom and Gomorrah. It was the perfect grazing reserve for his numerous cattle. He could not decode the giant invisible ‘X’ marked over the land. It took him years when fire and brimstone descended before reality dawned on him. He could only escape with his family. The wife looked back and was consumed, an equivalent of running back into a burning building to rescue valuables.

That the land looks free does not mean it is actually free. The fact that your job or business is still standing today does not mean it is actually there. It may have been marked for demolition due to advancement in technology. The physical manifestation is simply a matter of time.

Things are created twice. It is first conceived in the spirit and mind, put on paper and designed. That is the first creation. Until the first creation is complete, the second does not happen. If your job or business is gone on paper, don’t wait for the construction or demolition crew to show up before you know the game is up.

Never stop learning

Don’t let it happen to you. Upgrade yourself. Stop fighting technology. Face the reality that the industrial age is dead and gone. We are in the information age, the age of entrepreneurs. The world does not need your permission to move on. If you remove the batteries from your clock, other clocks are still ticking.

It is no longer business as usual. You need to equip yourself with relevant skills for the evolving world. Make better use of your time by investing in yourself and staying in touch with trends in your industry. If you have stropped learning, this is the time to resume. Rather than fight change, join the vanguard that makes change happen.

For questions or comments email usiere@gmail.com; to order the book, call or SMS to 0808 275 0980 visit http://ift.tt/2tEhPHL n.com. Follow me on twitter @usiere

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