Change Is inevitable, thriving is up to you, Jason Feifer is here to show you how. In this episode he shares valuable lessons from history and today’s brightest entrepreneurs to help you quickly adapt to change and Future-Proof your business. This...
Change Is inevitable, thriving is up to you, Jason Feifer is here to show you how. In this episode he shares valuable lessons from history and today’s brightest entrepreneurs to help you quickly adapt to change and Future-Proof your business.
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3:15 - Why Jason is a fan of change.
When Jason started as editor-in-chief for Entrepreneur Magazine in 2016, suddenly the question everyone had for him was: What makes someone a good entrepreneur? At first, he didn’t know the answer. But after spending a significant amount of time observing success stories and thinking it over, Jason arrived at the answer:
The most successful people are the most adaptable. They adapt for what’s coming, instead of letting your idea calcify in the past.
6:20 - The adaptability quotient
How can someone who’s stuck in a rut get un-stuck and embrace change?
Recognize your own reaction to change (loss). When we think of the loss caused by change, it can cause this domino effect which leads to panic.
For example: When recorded music was introduced, musicians were horrified, because they extrapolated the loss all the way to the end of the line. Composer John Philip Souza even wrote an article about how music emanating from a machine would mean mothers would never sing to their children, and therefore the children would grow into machine-imitating adults.
Loss A doesn’t necessarily lead to loss B through Z. Instead of being threatened by that initial loss and the potential domino effect, focus your energy on the potential gain. What new opportunity does this change afford?
14:22 - How can someone who’s starting a business embrace the uncertainty?
Be clear on your mission and value. Don’t focus on output more than who you are as a person. Disconnect what you do with why you do it.
Your what will always change. The way you deliver your what will change, and your customers will change. When something disrupts what you’re doing, you need to be really solid on your values and direction.
A trick for how to find your core: If someone came up to you at a party and asked what you do, and you couldn’t tell them about tasks, or skills — what do you tell them? Chances are it will be the thing that actually fuels you.
You may not find that answer immediately, but after mulling over it you should be able to find a short sentence that is about your why. It should be broad enough that it gives you flexibility for that change.
“You need to understand what part of you does not change, so everything else can change. That is the only thing that will help you feel grounded.”
20:10 - Passion vs. purpose
Once you get down to the core level, you may find a way to marry your passion and purpose — but that passion won’t have to be tied to your output.
22:45 - Finding your wouldn’t-go-back moment.
Jason has noticed that there’s a pattern to reacting to change:
John Philip Souza, for instance, was panicking. But the end point of adapting is (hopefully) to decide that all the change was worth it, and you wouldn’t go back.
Ask the question: What is it for? The answer might change over the years, but asking the question will help you chart a course through changing tides.
29:30 - How do you make the leap into entrepreneurship?
First thought: Entrepreneurship is not for everyone.
Next: Why would you do it? Because you can’t do anything else, and nothing else will be able to make your why make sense.
Make sure you know all of your options, and figure out what’s right for you. You need to go through the gauntlet and have your why firmly in place. You approach entrepreneurship, don’t have it thrust on you.
About our guest
Jason Feifer is the editor in chief of Entrepreneur magazine, a podcast host, book author, keynote speaker, startup advisor, and nonstop optimism machine. His goal is to help you become more resilient and adaptable in a world of constant change — so you can seize new opportunity before anyone else does!