To Reject, To Take Risks & To Change

Message: We must reject, take risks and accept change. Most of us grow up asking ourselves, “Am I normal? Can I run as fast as the other kindergartners?” In school/college, the question becomes, “Am I normal? Can I get a date?” “Am I normal? Can I make the grades?” In the corporate world, the question becomes, “Am I normal? Can I get the job and do the job?” Well, let me answer all the questions at once: To reject and change is normal. To take risks is not. We’ve heard the old saying that nothing is constant except change. Our interests change…. Our clothes change…. Our cars change…. The face of our workforce changes…. Our politics change…. Our philosophies change…. Even our cultures change. Change and rejection has become the status quo. Think of that. Rejection and Change is the only thing that’s the same. That’s normal. But to take risks… well, that’s… risky. It’s risky to get too enthusiastic about new ideas. Someone has observed: “We have never learned to support the things we support… with the enthusiasm with which we oppose the things we oppose.” We’re vocal about the status quo. It works—at least to some degree. But we’re much more vocal about new ideas that we count risky. After all, risky can mean wrong. You’ve heard it said that two wrongs don’t make a right. Well, that may be true when you’re talking Mathematics. But in matters of performance and humans, two wrongs may very well lead us to right. We need people who are not afraid to be wrong occasionally… in order to increase our chances of being right most of the time—when it counts. I repeat: What’s normal? The normal reaction to a new idea is to think of reasons it won’t work. But we can’t afford that normal reaction. The greatest risk of all is to take no risks. But risks take courage. It takes courage to reject, think creatively about what if…. It takes courage to break through barriers. Pepsi CEO risked changing Coke’s formula to increase market share. Allen Neuharth risked profits and reputation to start USA Today, because he believed there was a market for a new type of newspaper. If you study our My/Wali’s past record, I think you’ll agree that risk-takers have always been around—I myself variety of movers and shakers. Try your hand at this rhyme or brain-teaser from former Citibank Chairman Walter Wriston: “If wages come from work,… rent from real estate,…. and interest from savings,… where do profits come from?… The answer is that profits come from risks.” We agree on risks, rejection and change. And we intend to set a climate for constructive change and risk-taking. We intend to applaud, not undercut, risk-takers. We intend to provide recognition and reward rather than rules and reins. So here are our principles for dealing with rejection, change and taking risks. We want you to see change not as an obstacle but as an opportunity: One, do your homework—collect the available information and analyze it. Notice I said “available information.” No one will ever take a step if we wait for all the information to come in. It never does. Waiting for all the market studies,. waiting for all the reports,… waiting for all the numbers,… is simply delayed decision-making. The risk-taker uses the numbers that are available,… analyzes them,… and then acts. Maintaining the status quo can be a costly mistake. Three, take action. You may find that you can’t get all the sign-offs you need before the opportunity has passed. You may find that the market has moved on before the research has been completed. But if you’ve collected the available information and weighed the risk of the status quo against the change, act. Four, admit mistakes. This is not contradictory to what I just said. Taking risks doesn’t always result in profit. Never mind that. Example Admitting mistakes has to be a way of life as much as rejection and risk-taking. It took Coke about 78 days to bring back its old formula as Coca-Cola Classic. But admit their mistake they did, rather than further anger their loyal customer base and lose more market share. Admitting mistakes and then going to work to reverse them is a natural part of risk-taking. Let me list these steps again: One, do your homework—collect the available information and analyze it. Two, calculate the risk of maintaining the status quo against changing something. Three, take action. Four, admit mistakes. That’s what Wali and My rejection is encouraging you to do. No, more than encouraging. We are expeced to take risks, reject and change. In other words, change the meaning of normal. Normal does not mean “conformity.” Normal will mean “different.” Different like me and Wali. Today’s environment—as fast-changing as it is—requires rejection, change and risk-taking. Companies large and small, new and old—have to risk to grow. Businesses do not win by letting marketing research studies, short-term profit reports, and fearful employees dictate the future. CEO of Phillips Petroleum C.J. Silas has summed it up this way: “We’ve exchanged free enterprise for frightened enterprise. Some people fear being unprofitable. Some fear going to court. Some fear embarrassment. Some fear rejection.” But we don’t. At least here at (Class), our group fear inaction and stagnation more. Yes, it takes courage to change, to risk and to reject. Taking risks means moving forward while others are waiting for better times. Taking risks means moving forward while others are waiting for proven results. Rejection and taking risks means moving forward while others are waiting for applause on their past performance. Yes, it takes courage to reject, to change, and to risk. But then we have never aimed to hire the normal employee. We hire only the abnormal,… the extraordinary,… the excellent.