Peer to Peer Magazine

24 PEER TO PEER: THE QUARTERLY MAGAZINE OF ILTA | SUMMER 2017 The halcyon days of increasing profits by raising rates are gone. More than ever, we need strong leaders to negotiate this upheaval and architect our tomorrow. What are practical steps we can take to ensure we have the leadership skills needed to rise to this challenge? I have found five tips that are easy to implement but confer a significant advantage. Leverage Wisdom to Outmaneuver the Hype You must manage the hype. We are being fed an accelerating stream of news flashes about revolutionary technologies. Have you heard that artificial intelligence will replace associates? The promise of these new technologies is oen oversold. Gartner's "Hype Cycle" describes the interplay between hype and technology adoption. At first, hype generates inflated expectations. Aer reality kicks in, a wave of unfulfilled promises leads to a "trough of disillusionment." As the practical components of a new technology emerge, the market achieves a plateau of productivity. Rather than get caught up in the hype, maintain a healthy skepticism of new product promotions and look to see where the plateau of productivity will likely land. 1 Wayne Gretzky, one of the world's greatest hockey players, used a similar tactic. He wouldn't chase the puck, he would skate to where the puck was going to be. This tactic not only conserves energy but also helps to avoid becoming disillusioned. Believe in Yourself and Others It's important to maintain a solid belief in your abilities and in the abilities of those you lead. As Henry Ford stated: "Whether you think you can or you think you can't — you're right." A lot of your success comes down to choice. Unfortunately, most people are their own worst critics and doubt their own capabilities and potential. They talk themselves out of pursuing their dreams because they fear failure. Rather than stretching to achieve audacious goals, they retreat to the safety of certainty. In turbulent times, it would be unwise to hold on to a status quo that is being disrupted by increasing client expectations, globalization and advancements in technology. It is in times like these that our best defense is a strong offense, one undergirded by innovation and action. However, to achieve the promise of your potential, you must believe in your efficacy. Maintain a Positive Outlook In a TED talk, Shawn Achor (a Harvard-trained researcher) describes how a positive outlook improves job performance. He points to research that indicates that 75 percent of job success is predicted by our outlook toward life and our ability to see stress as a challenge instead of a threat. The good news is there are many practical ways to foster a positive mindset, such as positive journaling, meditation and paying it forward. Positive journaling comprises taking a few minutes each day to write about something good that happened in your life. It improves not only mood but also well-being. Meditation helps people to regain focus, which is essential to solving complex problems and creating new art. To pay it forward, perform acts of kindness, such as taking the time to write a thank you note. These and similar techniques can enable us to become a paragon of positive energy. Manage Your Energy We all need energy to perform at peak levels, but most professionals spend a lot of time managing 2 3 4 by Mark Thorogood Captain of the Ship: Becoming a Leader Who Can Weather Any Storm Captain of the Ship: Becoming a Leader Who Can Weather Any Storm SMART MOVES The times, they are a-changing. The relevance of the billable hour is being questioned. Clients are taking more work in-house. The use of alternative service providers is increasing. Artificial intelligence is displacing commoditized labor.

• Cover