Gaining the Technology Leadership Edge, Episode #38
How Technology Evolution is Secretly Changing the Business World – Stay Ahead or Get Left Behind!
Show Notes
About The Guest(s):
Sid Mohasseb is an experienced entrepreneur, investor, and advisor to Fortune 500 executives. He has built multiple companies, written books on entrepreneurship and business evolution, and is known for his visionary insights into the future of technology and business.
Summary:
Sid Mohasseb discusses the importance of evolving in business and embracing technology. He emphasizes the need for businesses to focus on the reasons behind customer exchanges rather than just profits. Sid also highlights the importance of building strong relationships with employees and creating a harmonious work-life balance. He encourages businesses to adapt to new technologies, such as AI, and not resist change. Sid shares his belief that the future holds great opportunities for those who are willing to evolve and embrace technology.
Key Takeaways:
- Businesses should focus on the reasons behind customer exchanges, rather than just profits.
- Building strong relationships with employees is crucial for success.
- Work-life balance should be viewed as work-life harmony, with a focus on creating harmony rather than balance.
- Businesses must adapt to new technologies, such as AI, and embrace change.
- The future holds great opportunities for those who are willing to evolve and embrace technology.
Quotes:
- “We forget the fundamentals of business and focus on things that are less important and forget the fact that we have to evolve always in order to be competitive.” – Sid Mohasseb
- “The focus is not at the right place. You as a company have zero control over the revenue you generate. You know who’s in control. The buyer is in control.” – Sid Mohasseb
- “The key is to be able to realize these exchange rates with your employees as well. If the exchange is right, if the employee feels that they’re getting what they want to get.” – Sid Mohasseb
- “Balance requires two things to be exactly equal. Harmony means sometimes it’s a little bit here and sometimes it’s a little bit there, and it’s up and down and movement.” – Sid Mohasseb
- “Competitive advantage in the future is not necessarily about sustainable competitive advantage, creating a thing and staying with it. It’s about how do you have a sustainable organization that can evolve with technology.” – Sid Mohasseb
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Episode Details
Gaining the Technology Leadership Edge: Evolving in the Age of AI
Welcome back to another episode of “Gaining the Technology Leadership Edge.” Today, we have the pleasure of speaking with Sid Mohasseb, an experienced entrepreneur, investor, and advisor to Fortune 500 executives. Sid has written two books, “You’re Not Them: The Authentic Entrepreneur’s Way” and “The Caterpillar’s Edge: Evolve Again and Thrive in Business.” In this episode, we will explore the main themes from Sid’s books and discuss the importance of evolving in the ever-changing world of technology and business.
The Need for Evolution
Sid emphasizes the importance of evolving in order to stay competitive in business. He believes that many companies forget the fundamentals of business and focus on less important aspects. According to Sid, the key to success lies in constantly evolving and adapting to new technologies and approaches. He states, “We have to evolve always in order to be competitive.”
The Role of Reason in Business
Sid challenges the traditional focus on profits and revenue in business. He argues that companies should shift their perspective and focus on the reasons behind customer transactions and employee engagement. Sid believes that understanding the exchange relationship between a company and its stakeholders is crucial for success. He states, “If we shift our perspective under reason, we’ll look at the world entirely differently.”
Empowering Employees
Sid believes that the traditional notion of empowering employees is flawed. He argues that employees already have power and that leaders should act as facilitators rather than enforcers. Sid states, “The idea is we have to be facilitators as opposed to enforcers.” He emphasizes the importance of creating a fair exchange relationship with employees to foster loyalty and creativity.
Work-Life Harmony
Sid challenges the concept of work-life balance and suggests that we should strive for work-life harmony instead. He believes that balance implies opposition, while harmony allows for flexibility and collaboration. Sid states, “It’s about harmony. It’s not about balance.” He encourages individuals to focus on building harmonious relationships and collaboration rather than compromising.
The Future of Work
Sid acknowledges the impact of technology, particularly AI, on the future of work. He believes that AI will revolutionize various industries and change the way we work. Sid encourages individuals to embrace technology and evolve alongside it. He states, “We can’t stop progress because somebody is going to lose their job. We have to get with it as humanity.”
Embracing Change
Sid shares a story about Amazon’s early vision and how they evolved from selling books to becoming a global e-commerce giant. He emphasizes the importance of embracing change and staying relevant to customers. Sid states, “The reason people fail and don’t evolve is because they think they know.”
The Path to Success
Sid’s message is clear: in order to gain the technology leadership edge, we must evolve and adapt to the ever-changing world of business and technology. He encourages individuals and companies to embrace change, foster harmonious relationships, and focus on the reasons behind customer transactions. Sid believes that by doing so, we can thrive in the age of AI and create sustainable organizations.
In conclusion, the future of business and technology is constantly evolving. To stay ahead, we must be willing to adapt, embrace change, and foster harmonious relationships. The path to success lies in our ability to evolve and thrive in the ever-changing landscape of technology and business. Let us embrace the challenges and opportunities that lie ahead and continue to gain the technology leadership edge.
Contact Information for Sid Mohasseb
LinkedIn: Sid Mohasseb
Website: Mohasseb.com
Timestamp | Summary |
---|---|
[0:00:02] | Introduction to the guest, Sid Mohassib |
[0:00:30] | Inspiration behind writing the books |
[0:03:06] | Reasons why businesses don’t evolve |
[0:05:47] | Shift in focus from profits to reasons |
[0:08:48] | Number one mistake companies make with staff |
[0:09:37] | Empowering employees vs. facilitating their power |
[0:12:03] | Importance of work accomplishment over hours worked |
[0:13:24] | Balancing work and life vs. harmonizing work and life |
[0:15:01] | Work as a means of earning a living vs. growth and innovation |
[0:15:27] | Work-life harmony and changing perspectives |
[0:15:27] | Relationship should be about collaboration, not compromise. |
[0:16:20] | Work-life harmony is up to the individual to make happen. |
[0:17:10] | Marriage is not about compromise, but about making each other happy. |
[0:18:33] | In a mutually beneficial relationship, focus on what you do for the other person. |
[0:20:12] | Hybrid work model with some days on-site and some off-site. |
[0:21:15] | Building relationships and loyalty through physical presence at the office. |
[0:23:10] | Our lives are changing due to automation and evolving technology. |
[0:24:52] | Focus on outcomes and business value, not the method used. |
[0:25:30] | Embrace tools like Chat GPT as a resource for coding. |
[0:26:50] | Competitive advantage is about evolving with technology. |
[0:27:26] | Companies shouldn’t sit on their laurels after implementing technology. |
[0:28:05] | Technology evolves over time and moves towards perfection. |
[0:29:59] | Amazon’s visionary expansion from selling books to various products. |
[0:31:46] | People fail to evolve because they think they know everything. |
[0:33:21] | AI advancements like Amazon’s payment system shouldn’t be resisted. |
[0:34:37] | AI will have a massive economic impact and can’t be stopped. |
[0:35:01] | Mindset is the biggest challenge for people in adopting AI. |
[0:35:28] | AI tools like Amazon’s review summarization improve customer experience. |
[0:36:32] | Relevance and evolution are crucial for staying competitive in business. |
[0:37:43] | Sid Mohassab’s objective is to provoke people to evolve and embrace technology. |