Do you feel secure with plans?
Do you feel sophisticated investing in complex financial instruments?
Do you expect next year to be like last year?
Old mindsets may have worked for old realities. When change was slow and the next month was predictable, then laying out the path had a payoff.
But what do you observe about today’s reality? When innovation is relentless and exponentially changing, having set plans can be arrogant and rigid. How can you pivot when your expectations look nothing like what transpires?
Your competitors are hard at work innovating. Everyone is seeking to advance and when we have the tools to change things quickly – technology, publishing, platforms, communications, productization – you might be able to guess at a strategy to advance your own business or life. But so is everyone else. And they can change the game on you quite easily.
I think the better strategy is liquidity. Having cash, time and openness provides you that flexibility you need to keep assessing and iterate based on what you see coming at you. Liquidity gives you options you may not otherwise have if you are locked in.
Some ways to drive liquidity:
- Get to low or no overhead
- Test and go slowly with the people you work with
- Have clear exit strategies
- Keep your metric around cash flow and everything else second
- Avoid letting others bind you – employers, vendors, partners
- Never argue. It’s a waste of time and energy.
- Keep open spaces in your calendar to allow for serendipity
- Meet a new person every day
- Use cloud computing
Keeping things simple, open and flexible whether with relationships, systems or cash affords you the ability to change direction and move when your reality moves.
A lot of things tend to flow into our lives because we don’t guard the front gate. We get indiscriminate or we hold onto things that used to make sense but do not any longer.
How can you increase your own liquidity? What can you get rid of?