2020 has been one of the most tumultuous years in modern times. With the outbreak of a global pandemic, the resulting economic fallout, and the social justice activism still alive and well, businesses, including dealerships, have been tested in harsh ways. In a recent article titled “The Bowl Has Been Shattered. You Get to Rebuild It,” David Kidder compares business to a bowl that has been shattered. He joins us today to tell us what exactly that means and also shares the rare opportunity that now exists for business owners.
“In this moment, in this case, every bowl is smashed. The organization is not fixable in many cases. You can’t reassemble it,” says David. “So, the question is how do you build a new bowl that is more resilient and flexible going forward? Preserving the past models just won’t be successful in an era with this much disruption inside and out.”
However, people are resistant to change. There is a lot of behavioral psychology around why it’s so hard to change. Humans tend to overvalue what they have and undervalue what’s possible in the future. Many business owners have control bias as well. They think I can fix this but in this situation, the outside forces are too significant. In order for businesses to remake their bowl, they need to consider changing their processes, strategies, technology, organization, culture, and people.
David is a graduate of the Rochester Institute of Technology and he received Ernst and Young’s Entrepreneur of the Year Award in 2008. Today, he is the Co-Founder and CEO of Bionic, and the New York Times best-selling author of New to Big, The intellectual Devotional, and The Startup Playbook. He is also an angel investor in over 40 companies. For more great insight from David Kidder, be sure to watch our entire interview above.
Did you enjoy this interview with David Kidder? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at email@example.com.