The reality for many of these people, is that they failed to see the changes in the world around them, or notice bad people, or the possibility of an accident or a dangerous situation until it is too late.
On reviewing the situation of the person walking and looking at their phone, it made me start to think about whether this same principle occurs in business. In other words, “…. are businesspeople, their managers, employees, and advisers so busy, that when do leave their offices, or look up from their electronic devices, do they look at the world around them and see what is actually happening?”
If we look at what is actually happening in the world around us, I suggest the answer in many cases, is no. For example, all too often, we find that people fail to see the number of shops closed now and wonder why, and what might the ramifications be for their business. Another example was when interest rates were cheap and warnings advising interest rates had to rise, these warnings were ignored.
Worse still, were the businesses and people which thought cheap debt would be forever, or at least until 2024. “Did these people not realise that interest rates would have to rise again in the future?” Alternatively, many people saw these messages which promoted that debt was good, savings were bad, or cash in the bank account was just a lazy asset. Since COVID and 2022, we have seen the often, and fatal consequences of those earlier thoughts about cheap debt and lazy cash.
There are always two truths in business and the world around us. The first is that promoted by businesses, people, and governments with vested interests in their own well-being. The second is that seen by people more attuned with their eyes wide open and with an open mind to the realities of life on what they personally see around them.
Once this second group of people start looking around them physically and reflected what they saw in the media, they started to query the realities. After all, what they saw around them, didn’t seem to match up with what those with vested interests were promoting.
The circumstances facing all businesses and their customers these days, suggest the world is always in an ever-increasing state of change. If we are really honest, many of these current changes are creating a fair state of volatility for all concerned. The consequences for many of us therefore, are not looking overly positive. Conversely, however, a very few businesses and people may do very well.
It is more important than ever before that when we are not in the office or stuck on our electronic devices, we look around and review the information in the media and compare it with what we see with a critical mind. Just because we may have been successful in the past, and even come through COVID relatively intact, does not mean the future is assured for any of us.
Amongst the many indicators that the world has changed, and will almost certainly affect us in some way is to study human behaviour when changes occur. For instance, what were the causes of closed shops, a lack of rental accommodation, the lack of services in major cities, home loan stress and trauma, the massive debts here and all around the world, the outcome of all the various wars happening in the world today etc.
When we see all these negative factors, what do they all mean for us, and are the outcomes necessarily negative. After all, even in bad times, businesses and people which have a no or a minimum of debt, plus savings and cash, may also do very well. In bad times, fortunes may be lost, however, they can also be created by those who “see” what is really happening and then adjust their behaviour.
In summary, many people walking around, are glued to their phones and do not look around them. As a consequence, and we have all seen and laughed at the videos on social media, when those engaged on their phones have walked into posts, fallen down holes, have been knocked over by walking against redlights and so on.
The reality for many of these people, is that they failed to see the changes in the world around them, or notice bad people, or the possibility of an accident or a dangerous situation until it is too late.
Too often, it appears many business owners, managers and their advisers also operate in a like manor and fail to see the world change around them. In a volatile world, too many people in business seem to do business in the same old way as in the past. In these volatile times, business owners, managers, and their advisers, cannot afford to leave their offices with their eyes closed.
It is only by noticing the changes and then reflecting on what these noticed changes might mean for their business, can positive changes be made to protect the business into the future.
Want to know more, contact Kim at kim@creditmatters.com.au, or 0411 649 261, or have a look at what we offer via our website at www.creditmatters.com.au
