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Laura Rowley Money & Happiness

Laura Rowley, Money & Happiness

Adapt to Change -- or You May Be Left Behind

by Laura Rowley

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Posted on Thursday, June 18, 2009, 12:00AM

I’m working on a history book about a company that has grown tremendously in the last half century by doing two things well: listening to its customers and changing as their needs changed. That’s pretty simple -- listen, change. Simple, but not easy, when you consider that dozens of its competitors failed over the years. The world changed, their customers changed, the nature of the competition changed, but they continued to do business as usual.

As the president of the successful company told me: “You see your peers not able to adapt, not able to grasp reality, and it’s really the death of a thousand cuts. The key is to change when you have 50 cuts -- if wait until you have 1,000, you’re not strong enough to change.”

Enormous shifts in the economic landscape are demanding individuals change -- their financial behaviors, their careers, even their sense of identity. Change can be incredibly disorienting, and it’s easier, at least in the short term, to ignore a new reality, to get stuck, to do nothing, to keep on with business as usual and hope that the pain will stop at 50 cuts. That’s what the automakers did, and we know how that turned out. Long-term, failure to adapt and work through change in a constructive way means recovery will be excruciating, if it comes at all.

For instance, I have a friend whom I worked with in television news. When I started in TV in the mid-90s, producing a story might involve five people -- a field producer, reporter, camera person, sound person, and an editor. Earlier this year I took a tour of the digital newsroom at a national network, where technology has collapsed all of those jobs into one. One journalist can produce, report, shoot, and edit a story, then post it online. My friend, who used to do just one of those tasks, has been mostly out of work the last few years, and not by choice. Technology is pushing that specialization toward extinction. The death of 1,000 cuts.

Dealing With "Disrupted Expectations"

In his classic book 'Managing At the Speed of Change', consultant Daryl Conner talks about what it takes to deal with “disrupted expectations.” People who do it well, he says, are highly focused, organized, positive, and resilient. They are flexible and proactive -- they think about what may be next before the change occurs. They communicate early and often as change happens to reduce the accompanying anxiety.

Everyone moves through life at his own speed of change, Conner says, and assimilates it differently. “Regardless of age, position, wealth, status, motive, or desire, no individual, organization, or society can adequately absorb life’s inevitable transitions any faster than their own speed of change will allow,” he writes. “People can face an unlimited amount of uncertainty and newness, but when they exceed their absorption threshold they begin to display signs of dysfunction: fatigue, emotional burnout, inefficiency, sickness, drug abuse.”

On the other hand, sometimes we don’t have the luxury to change at the speed we choose -- we have to change first and process the trauma after the fact. My friend Helene, a breast cancer survivor, has informally counseled other women facing the disease over the years. She recalled a difficult conversation with a woman who was procrastinating.

“She was clearly avoiding [treatment], but what she was doing seemed very constructive because she was gathering reams of research for six months,” she says. “I feared distancing her but said, ‘You were diagnosed six months ago and I know you want to make the best choice and find the best doctor -- but what you’re really choosing is death. I want you to choose life.’ Who is ready to have body parts lopped off? We can’t ignore our emotional life, but there’s a hierarchy -- first you have to stay alive and then we can talk about how you feel.”

A Loss of Identity

Or consider a segment I participated in this week on the 'Today Show', about increasing numbers of men going from breadwinners to stay-at-home dads because their jobs were eliminated. Choosing to change careers is hard enough; when it’s forced on you; it usually comes with a wrenching loss of identity. For all the spiritual wisdom that suggests our self-worth is rooted in who we are, and not what we do, the truth is, when you find work that allows you to express your deepest values and best skills, and you’re successful at it, it starts to feel like the same thing.

Psychologist Jeffrey Gardere said: “What we do find is a lot of these dads -- after they get through this issue of anger -- actually accept the role and they find it’s a fantastic way to get to know a different side of their kids and influence their kids in a different and positive way. A lot of these guys define themselves by being able to make that money and bring it to the home; now…you’re able to explore a new side of yourself and recreate who you are as far as your self-esteem.”

It’s the recreating part that’s the rub. As Conner points out, it takes focus, energy, and commitment to change, whether it’s taking on a new role in a family, adapting to shifts in an industry, or dealing with an unexpected turn in our financial lives. I think the key is to stick to your values but be open-minded and creative about how to manifest them. If the goal is to nurture kids, it can be done with time as well as money. If it’s finding financial peace, there are dozens of ways to adjust spending, saving, earning, and investing to achieve that. If it’s doing a specific job, a passion can be translated into a different medium. Listen, change. It’s simple. But it’s not easy.

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92 Comments

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  • Yahoo! Finance User - Monday, June 29, 2009, 9:28AM ET  Report Abuse

    • Overall: 5/5

    This lady seems to be right, all the time. Nice wakeup. A lot of people are not going to like this story. Thats what makes it a great story. Maybe this will get a lot of people off there "duff'".

  • Yahoo! Finance User - Thursday, June 25, 2009, 9:13PM ET  Report Abuse

    • Overall: 4/5

    good 1

  • Georg - Wednesday, June 24, 2009, 2:52AM ET  Report Abuse

    • Overall: 1/5

    Another crock from yahoo.

  • pbergn - Tuesday, June 23, 2009, 2:33PM ET  Report Abuse

    • Overall: 1/5

    There is a certain range and rate of change to which a biological organisms can adapt. Outside of that range the extinction is a certitude... Unfortunately, the present rate and range of economic decline leaves no one a chance to adapt to anything... Frankly, what is there to adapt to anyway? There are no jobs, period. The only way you can adapt is to live without eating...

  • Nick Name - Tuesday, June 23, 2009, 11:32AM ET  Report Abuse

    • Overall: 1/5

    Laura TEETH is always coming up with psychobabble but nothing of substance. This is supposed to be about FINANCE not arm chair pop psychology. Life sucks sometimes suck it up and quit whining. Too many people are waiting for Big Daddy Government to tell them what to do or deliver their next check.

  • James - Tuesday, June 23, 2009, 9:34AM ET  Report Abuse

    • Overall: 3/5

    Decent article, but Laura could've shown a few instances where the company adapted to prove her point without giving away her book. BTW "BACK TO THE FUTURE" do us guys all a favor and crawl back under your rock. (Or relocate to a Muslim country.) I don't need to be a man to succeed on my own merits and a man with any self esteem is not afraid of working with or competing with women in the workplace. Open competition regardless of race or sex and using all people to the best of their abilities is what will make this country great again.

  • Yahoo! Finance User - Tuesday, June 23, 2009, 7:09AM ET  Report Abuse

    • Overall: 2/5

    Important subject ... weak content.

  • Yahoo! Finance User - Monday, June 22, 2009, 9:30PM ET  Report Abuse

    • Overall: 2/5

    Dramatic title, but the piece doesn't seem like a lot more than the vague platitudes & anecdotes commonplace in other quickie financial guru pieces. Better than some, though. It's true that how quickly people adapt varies, but age, existing resources, and any outside assistance are certainly not irrelevant to how readily that may occur. Nor is change always simple. That could sort of depend on one's interests, family situation, and how many expectations remain a relatively inflexible aspect of personality.

  • Yahoo! Finance User - Monday, June 22, 2009, 6:55PM ET  Report Abuse

    • Overall: 1/5

    An average 8th grade student can tell you that change is permanent and the ability to adapt critical to survival. We would be stupid to believe that this article is written to be taken at face value. Compassion places a high tax on the conscience. The purpose of the article is to numb the conscience of the readers. That is why the message of change is good, love the change is so often repeated. The reader can then rationalize any cruelty to the unbelievers with this thought: We told them to change but they refused therefore they must die (“be left behind”). The clock is striking thirteen for those that seriously give 5 stars.

  • Yahoo! Finance User - Monday, June 22, 2009, 6:06PM ET  Report Abuse

    • Overall: 1/5

    What is really interesting about this article are the levels of spirit shown by the readers. And where do you all find the time to read and make useless comments about this stuff???

  • Valhalla360 - Monday, June 22, 2009, 3:03PM ET  Report Abuse

    • Overall: 1/5

    Laura: please change and start writing something rather than loosely cobling quotes together and calling it your work. Not much useful information anyway. Oh and hows, the retired housewife with a job blogging while her husband supports her doing?

  • Yahoo! Finance User - Monday, June 22, 2009, 2:53PM ET  Report Abuse

    • Overall: 1/5

    BACK TO THE FUTURE is right. We have lost control of our women. And men ARE paying the price. I remember in the 60's and 70's, men were told that a unisex culture wouldn't cost men anything. Clearly that's been proven wrong over the last 35 years. Time to go back to traditional roles.

  • Yahoo! Finance User - Monday, June 22, 2009, 2:18PM ET  Report Abuse

    • Overall: 5/5

    Great article Laura. BACK TO THE FUTUTRE; you should invest in Robert Kiyosaki's products. I have made millions of dollars in my spare time!

  • PriusCarPoolStickers - Monday, June 22, 2009, 1:54PM ET  Report Abuse

    • Overall: 4/5

    Dear BACK TO THE FUTURE: If anyone is curious about why women are succeeding where men are not, you have just written a perfect example of that failure. Please take the time to learn to spell, write, and think, and you will have a much better chance of moving away from failure and toward success. Good luck with that. PS: I'm not female.

  • Eric - Monday, June 22, 2009, 1:47PM ET  Report Abuse

    • Overall: 2/5

    People who adapt to change survive. Those that create change are great. Having a "stay at home dad" is a pathetic consolation for both husband and wife. You can't build an airplane contrary to the laws of aerodynamics.. Why do you think you can build a culture contrary to our evolutionary psychology? It's not flying, it's falling.

  • Yahoo! Finance User - Monday, June 22, 2009, 1:17PM ET  Report Abuse

    • Overall: 1/5

    Men loosing jobs and staying at home; men's incoming decline; while the majority of college students are female and more students going into law schools are female. And then men are told to accept this lower standard and 'adapt' and like it! BALONEY!!! What a bizzare culture!! This is what happens when men loose control of their females! Time to undue all the '60s liberalization for females and stick them back in their place! Time for men to men, and to let them be dominate over the females. Dominate in education; dominate in business; dominate in home life! BACK TO THE FUTURE!!!

  • toby - Monday, June 22, 2009, 12:44PM ET  Report Abuse

    • Overall: 1/5

    Yep, a one person article alright. An editor might have pointed out that anecdotal evidence is an oxymoron. Fatalism, passive acceptance of the theories surrounding the beautiful life we are to enjoy if we only embrace the change that is being engineered for us is in large part responsible for the rapid decline in the middle class standard of living that has been occuring during the last two or three decades. Robber barons are in control of our economic and political life. There has been a massive redistribution of wealth through tax policy and it is continuing through direct subsidy of failed business enterprise. Those happy soccer dads will soon be adapting to the life changes that will occur after their family goes bankrupt trying to live on one paycheck in our two paycheck lower middle class world.

  • Yahoo! Finance User - Monday, June 22, 2009, 11:55AM ET  Report Abuse

    • Overall: 1/5

    Baby Boomer said, "The language often was different as was the culture..." When my mother came to America from Estonia (LEGALLY), they did not have courses taught in Estonian for her benefit. Why do we need to CHANGE so that some illegals can APPRENDER what is going on EN LA CLASE? Your generation sucks. -- A Gen-Xer

  • Baby boomer - Monday, June 22, 2009, 9:48AM ET  Report Abuse

    • Overall: 4/5

    Change happens so there is no point in people getting angry that she points it out. Look at history and especially your own family history. Where did your ancestors come from and why did they leave the old country? Think 100 to 150 years ago and what was the situation in Europe, Middle East, China, India and the rest of the world? Talk about change, especially before phones and planes. When they left and then arrived in America, there was almost no chance of going back. Think of the changes they had to adapt to. The language often was different as was the culture, climate environment with no extended family around. Today, yes you may have lost your job, your house and/or your land but so did hundreds or millions during the changes in the last 150 years. As Stalin said: "one death is a tragedy, a million is a statistic." And so your own personal job or investment loss may be a tragedy but adapt or you and your family very definitely will be left behind.

  • Yahoo! Finance User - Monday, June 22, 2009, 9:33AM ET  Report Abuse

    • Overall: 3/5

    I agree. The real problem is when you know you need to change, you go and get retraining, and you STILL can't get a job because folks say that you went to school because you couldn't get a job. Which is true. That's why I went to school! Geeze! It's easy to say "change and adapt". It's a whole different matter in actually doing it in this environment.

  • Yahoo! Finance User - Monday, June 22, 2009, 8:21AM ET  Report Abuse

    • Overall: 5/5

    An excellent article. Not directly applicable to stock picking, which is why it is getting hammered; but full of good advice to those who will listen.

  • Yahoo! Finance User - Monday, June 22, 2009, 8:20AM ET  Report Abuse

    • Overall: 3/5

    The U.S. is in pretty deep. The country is too far gone to be saved. We don't really make anything. We have no service sectors they've been farmed out to India. Real Estate is quickly becoming worth less. The markets are continuing to drop. Chrysler is out of business so who would buy an american made car? Change? Change this!

  • Dennis - Monday, June 22, 2009, 7:59AM ET  Report Abuse

    • Overall: 1/5

    Just a bunch of sentimental mush. This isn't an article. It's a waste of time. Only good for a really slow Monday with no news.

  • Yahoo! Finance User - Monday, June 22, 2009, 1:46AM ET  Report Abuse

    • Overall: 5/5

    Laura, forget about "adapting," all you have to do is jump on board the Government Gravy Train! This may be a crappy time for working Americans, but it's an awesome time for wealthy investor-class Americans! Barack Obama is throwing literally TRILLIONS of TAX DOLLARS in stimuluis and budget spending into private business on Wall Street... he's juicing up the STOCK MARKET more than Barry Bonds on STEROIDS! It's finally real "Hope & Change" the rich can believe in! Steal from working class Americans to give more to the RICH... Hey, thanks Barack! Keep spreading the wealth around!

  • Yahoo! Finance User - Sunday, June 21, 2009, 11:28PM ET  Report Abuse

    • Overall: 1/5

    "You must adapt to change" is an astoundingly profound observation. Looking forward to Rowley's next pearl of wisdom, such as "water is wet" or "grass is green."

  • William M - Sunday, June 21, 2009, 10:47PM ET  Report Abuse

    • Overall: 4/5

    The headline is important. Her content is tame and does not do justice about accepting change. She did not mention the real future shock, folks! Competition is going to get intense with more intense world trade. But it's all for the better.

  • Katy C - Sunday, June 21, 2009, 10:41PM ET  Report Abuse

    • Overall: 5/5

    In my humble opinion, seeing the futility of beating my head against the wall any further, it makes perfect sense to change and scale down to the smallest possible existence I can create at this point. Still, I will remain hopeful that I will somehow be able to spread my wings in the future,

  • Slugabug - Sunday, June 21, 2009, 10:16PM ET  Report Abuse

    • Overall: 2/5

    "One journalist can produce, report, shoot, and edit a story, then post it online." This one sentence says a lot. Kind of explains why we don't have news reports anymore. One person cuts and pastes some blather off the internet and calls it news. Doesn't matter whether or not anyone bothered to check it for factual accuracy, it's what we're calling news today. Maybe that's why no one watches network news anymore. It's nothing but sound bites and opinion. Another change you'd better get used to is, no matter what career you train for, some douche nozzle in Washington will figure out how to ship it out of the country or import someone to do it cheaper. I've tried to change and do more home and car repairs myself to save money. Problem is, you waste half the day looking for the right hardware/part that is defective right out of the box. But we saved a little bit of money by manufacturing it in China. We have landfills full of junk that was sitting on a shelf at your favorite national chain store two short months ago. Now that's change you can believe in.

  • Yahoo! Finance User - Sunday, June 21, 2009, 7:58PM ET  Report Abuse

    • Overall: 5/5

    Unfortunately, Americans are too stubborn to change. Our lack of education is evident when we deny things like global warming. Other countries are far more ready for the change. I've been living it for years.

  • R - Sunday, June 21, 2009, 3:54PM ET  Report Abuse

    • Overall: 1/5

    I thought the article weak, with little of substance. I was a single father to my 3 sons in the 70s, and ambitious to rise the corporate ladder. It took energy and single mindedness. Looking back, I don't know how I did it all. The corporate bit got left behind when I went back to Europe in 1985 and set up my own manufacturing company. It was sold 10 years later and I then did consulting for 10 years, and returned to the USA. What's my point? People tell me I took big risks, but they weren't risks to me. I merely exercised options that I had already created. That's what it is about in life, at least to me: creating options. You cannot rely on others to make your bed for you. And you don't know how the future will turn out. When you have options, other possibilities, adapting to change is easier.

Showing comments 6-35 of 92<< PreviousNext >>
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