Once a monkey has gotten hold food in its hand, it is close to impossible to get them to let it go. And this makes it easy for monkey catchers to trap.
There is no one keeping that monkey captive, except the force of its own attachment. All that it has to do to escape is to let go of the food. But so strong is the force of greed in the mind that it is a rare monkey which can let go.
Aren’t many business leaders just like monkeys? We may laugh at the monkey for its stupidity but every day we see similar foolishness displayed by many business leaders who struggle with letting go. Like monkeys, many leaders fail when they hold on too tightly to something that leads them astray.
We simply can’t let go of products, services and practices that worked in the past which contribute little today but require significant amounts of our time and attention. Or we struggle to let go of our ego and pride. And some business leaders simply can’t let go of their business and stay on in their roles way past their expiry date.
But the issue is not limited to business leaders. Many people are traumatically bonded and cling on to bad relationships even though they know otherwise. Or we can’t let go of a bad habit. Worst still many hold on to old beliefs and dogma like “if it’s not broken, why fix it” and end up missing the boat when changes need to be made. Why is this so?
In the case of the monkey, greed is the key reason why they cannot let go. Greed and avarice is the reason executives fail to let go. And greed leads to fear.
Successful business leaders struggle letting go of their products and services that worked previously because they fear the unknown. The fear of losing the past outweighs the gain of the future. Thich Nhat Hanh, famous Buddhist teacher said “People have a hard time letting go of their suffering. Out of a fear of the unknown, they prefer suffering that is familiar.”
Each of us naturally wants to maintain status quo, sticking to the safe and comfortable. According to Edward Miller, dean of John Hopkins medical school, people won’t change even if their lives depended on it. He studied people two years after their coronary-artery bypass grafting, and found 90% of them had not changed their lifestyle even though they knew they could die. They just could not change their lifestyle, for whatever reason.
CEOs are supposedly the prime change agents for their companies, but they are often most resistant to change.
When Louis Gerstner took over as CEO of IBM, he started by sticking to the same old McKinsey routine that had worked for him throughout his career – analysis paralysis and strategy. He thought he could revive the company through drills such as selling assets and costs cutting which were his comfort zones. But he was wrong and to his credit, he changed his consultant approach to a more cultural transformative one, thereby enabling IBM’s revival.
But most leaders resist change and are crippled by excuses to retain status quo. If you walk into any business and you hear the following excuses, you are in a business where there are a lot of monkeys who just can’t let go:
- We’ve never done it before and it’s not possible
- We/another company/person tried it before and it won’t work here. Our company is different
- We’ve been doing it this way for the past 50 years
- Why change — it’s working OK. Everything is fine here
- Management will hate it. This company is not ready for it
- It needs further investigation and it needs more thought.
- Our competitors are not doing it. Why should we?
- We don’t have the money/resources/assets to do this
- The union will scream. It’s too much trouble to change.
10. Customers won’t buy it. It’s too radical a change
Ego is responsible for the majority of business failures. Disney, Wang Laboratories and even General Motors’ slide from glory was due to leadership ego. Even celebrity CEOs are not immune to ego issues. Steve Jobs was kicked out of the company he founded because of ego issues.
A personal example while I worked at GE is of the legendary Jack Welch, whose refusal to part with Montgomery Ward, a trouble departmental store that came to GE looking for an infusion of 100 million dollars to reverse the retailer’s fortunes. It wasn’t enough and the next year they came back and asked for more.
It is hard to identify even one single big business success that was achieved by following conventional wisdom. Yet many still rely on it daily.
While working part-time as a student at a university in the US, a secretary there refused to learn the computer and only used the type-writer. She was typing 300 words a minute and believed if she kept improving her speed, her job was safe. Whilst everything around her told her to embrace the computer, her inner belief said otherwise. A year later, they fired her and replaced her with someone who typed 80 words a minute but could use the computer.
The newspaper industry globally is in decline and many blame the advent of the internet to this decline. But researchers Michael Moore and Sean Paul Kelley believe that it is greed and the reliance on outdated wisdom that has seen print media’s decline.
Each of us has beliefs and conventional thinking stifling our progress. Take time and re-examine your beliefs and remove and replace the ones that don’t work. Businesses need to do this often too.
In life, there are many things that we have to learn to let go. We have to let go of situations, things, memories, attachment to people and even ourselves. It can be a very painful experience and feeling when it’s time to let go.
Letting go is similar to crossing monkey bars. You have to let go at some point in order to move forward. Letting go can be one of the scariest experiences in your life but only by boldly taking a leap of faith into the unknown, can you truly be the leader you were meant to be.
So, this weekend, why not reflect and learn to “let go” of something that is holding you back from greatness. Remember, every exit is an entry to somewhere else.
Think of it this way: you’re on a hiking trip and along the way you keep picking up heavy objects, things that don’t really help you get up the hill. After a while, these objects begin to slow you down and unless you get rid of them, you’ll never complete your trip. So, let them go.
Roshan Thiran is CEO of Leaderonomics, a social enterprise passionate about transforming the nation through leadership development. To learn to “stop being a monkey” and develop the leadership ability of yourself and your employees, call +60123291968 or login towww.leaderonomics.com and go to our Learning programme section in the Corporate tab.