Productivity Tips for FOBO – the Fear of Becoming Obsolete
Stephen Hinch knows FOBO – what it is and how to prevent it. The “fear of becoming obsolete” is alive and well in the age of AI. We discussed his perspectives on the fear of becoming obsolete and innovation as a solution to business obsolescence, covering topics like AI’s role in the workplace, company culture, and time management strategies. You can watch the interview by clicking on the graphic below or read the highlights beneath it:
We covered a lot of ground surrounding tech and the fear of becoming obsolete, including:
*Why do we have FOBO?
*What exactly is innovation? According to Stephen, his business definition of innovation is the ability to 1) see opportunity in places others do not and 2) turn that opportunity into profitable reality. To save time, you need to know how to do this effectively.
*Incremental innovation – make incremental improvements to what you’re already doing or creating
*Disruptive innovation – doing something entirely new
*These two different types of innovation must be managed differently.
*AI can be helpful, but if not utilized correctly, it can lead to nowhere (and upset customers). He shared an airline story about his daughter and AI.
*Understand how you can harness the power of AI, as well as be aware of hallucinations, inaccuracies.
*What are signs your job might be becoming obsolete? Look at your data – sales, customer feedback, a drop in sales for your competitors (at the same rate or more than yours). If you wait until your numbers are drastically lower, it could be too late.
*three of the six steps for nurturing incremental innovation:
Employees must know the company’s mission.
Establish an environment that’s conducive to innovation – everyone is encouraged to share ideas.
Time is allotted for innovation without distraction.
*As a leader, ask your team members to approach you with not just the problem, but their proposed solution(s). They become better at decision-making, which saves time, and you save time from not having to do their thinking for them.
To find out more about innovation and the fear of becoming obsolete, connect with Stephen Hinch:
Website: https://www.stephen-w-hinch.com/
Book: https://amzn.to/4650ptK – Winning Through Innovation: Lessons from the Front Lines of Business
LinkedIn: https://www.linkedin.com/in/shinch/
About Stephen Hinch:
Stephen Hinch has several decades of management experience in high tech, including twelve years at the senior management level in R&D, marketing, and business general management at Hewlett‑Packard and its spin-off company, Agilent Technologies. He also served as President and CEO of TeamLogic IT. He now serves as a consultant to senior executives in high tech. Stephen is the author of Winning Through Innovation: Lessons from the Front Lines of Business.
For other Time Management Revolution podcast episodes, visit:
YouTube: https://youtube.com/playlist?list=PLAU3o93PRjlW9lca-YT38dVMADSARXUtK&si=CZWm8QGem-vc9R0l
Apple Podcasts: https://podcasts.apple.com/us/podcast/your-time-management-revolution-productivity-tips-from/id1046485977
Audible: https://amzn.to/3T21QkK
…or wherever you get your podcasts!
For more recommendations on how to create more time (which will never be obsolete), check out The Inefficiency Assassin: Time Management Tactics for Working Smarter, Not Longer.
