RUN.
My "buddy" said it. Yelled it actually.
So I did.
I ran.
I ran fast.
I ran straight into a wall.
And I spent the next 3 hours of my youth group's weekend-long retreat sitting in a classroom nursing a massive headache.
Blindman's tag... So not a good idea.
(But perhaps an explanation for repeat sinus infections? Who knows.)
I've talked before about the need to look ahead on technological innovation, even while we work to adopt and enact profitable change today.
Because doing anything blindly or because someone said we should is just plain dumb and risky.
We know AI is coming for our industries.
It's already here.
(And if it's not AI, it will be something else!)
While we may like the idea of time saving or increased profit opportunities, if we aren't careful, we may get stuck in a shifting environment that makes us more busy, more stressed, less profitable, and competing for market share.
For those who don't want to read the full article, consider what happens when, in a billable hour business, AI saves you 40% (not 5%) on client operations time but the available market for services only grows by 2-3% per year.
You'll likely still be employed - critical thinking humans are getting augmented, not replaced as this article suggests for the AmLaw100 - but as the demand for more of everything just keeps going up, that job will suck.
Sam Altman gets to win but will you?
I can't change our capitalist economy nor do I want to. But I can and do want to help build you a personal and professional economy that works for your goals.
So how do you set yourself on the track to building a personal economy? One that is not dependent on just getting more stuff done whether it's important or not.
It starts with something fundamental and simple, but that gets easily overlooked.
To the point where I bet out of anyone reading this, less than 1% will actually pull out a sheet a paper and do what I'm about to suggest.
And that is...
.
.
.
.
Write out your goals.
Specifically, we're going define your personal economy in what I typically call BeyondSMART goals.
Because going anywhere blind is stupid and reckless and, as your firm's owner or managing partner, you just can't afford the odds.
By setting goals, you'll be able to take the most effective next steps to set yourself on the right AI - or anything - adoption track for you, one that will put you at the advantage of the masses who take action unquestioningly.
Here are the components of your personal economy roadmap, step one.
Let's define those in turn.
Indicators: How To Measure For Profit & Progress
Indicators or KPIs - like those in an economy - are what tell us the trend or track that we're on. This could be the lagging (already set in stone, nothing you can do about it now) indicators like GDP (revenue or profit) or the employment rate (profit, client rating, etc.).
But there are also indicators you can use that determine where you're headed.
In the big economy, the jobs report, the volatility index, consumer sentiment, purchasing behavior... a combination of these, often in complex and reasonably predictive models, tell us whether the economy is heading into an expansion, a contraction or recession, or is just on its usual track.
True predictability of your "leading" indicators varies. Some, like in marketing, are a little more clear. That might be the number of leads coming in, how many hours you spent networking, how much you spent on ads, the number of quarterly client calls you made...
Others will adjust business by business and goal by goal. Your motivations matter (which is why you're groaning about goals but I'm still going to write about it).
By tapping into leading indicators, particularly through your operational frameworks, you create a level of transparency and predictability that isn't available inside of your regular financial reports.
So start with indicators (basic level SMART goals) and then you move to the next thing...
Identity: Progressing Toward A Defined Image Of Success
A business comes to me, thinking about an exit 5-10 years out, and they've already determined their mid term goal is to move from $2 million to $5 million in annual revenue.
But their biggest concern isn't always just the revenue.
It's building that revenue without dropping the ball on their current clients or damaging their reputation.
They already experience a ton of chaos.
Invoices take days to send out. Manual entry is prevalent and worrisome. The owner is both lead generator and client relationship manager #1.
But they have a great base of clients and a tight knit staff.
Fixing up or replacing systems (AI or otherwise), leveling up revenue, getting them from point A to B also means keeping the best parts of their culture and brand intact and thriving.
Because what else good is a systems update if it transforms your firm into something you hate, that people and clients don't want to work with, or that causes you to lose something that's vital to your long term success?
Identity is that overarching theme for this leg of your personal and professional economy.
The one that says whether we take care of the lowest among us or reward the action takers or both.
It's what somebody says about us when we're not in the room.
Believe it or not, it's actually one of the things that attracts and keeps the kind of talent that helps you scale your business with some stability - a crucial aspect of any professional services firm.
(Go getters may be welcome on the sales side. But relationship managers or back office people jumping ship every couple months does not make for a stable business or a great reputation.)
Artificial Intelligence makes the people side of your business more critical not less.
The simple truth is that companies can achieve the largest boosts in performance when humans and machines work together as allies, not adversaries, in order to take advantage of each other's complementary strengths. - Paul R. Daugherty
Who do you want to be? What is the defining identity of your personal economy?
Define that and then move on to the final thing... the one that seems to be either the most challenging or the most fun.
Individual: How Does Success Show Up For You Personally
To quote Mary Oliver...
What is it you plan to do with your one wild and precious life?
It's not about the economy. It's what the economy does for people... namely you and your people.
What are you doing this for?
I'm okay with you wanting to get a fraction of your time back and breathe a little easier. A week without emails breathing down your neck might be nice.
But there are reasons to think bigger.
There are always points in the process where it gets hard. Where it gets easy to cut corners on your reputation or decide the money isn't worth the pain.
It's normal. It even has a name. (The Dunning Kruger Effect).
But when that moment happens, often called the Valley of Despair in the vectorized version, you'll need more than the motivation of a couple minutes back in your day to stick to your pathway and climb the next hill.
For executive leaders, the imperative is clear: leveraging AI or any type of internal change or new technology requires not only operational adaptation but also a recalibration of business models and talent development.
Which means that by anchoring transformation in robust indicators, a clear organizational identity, and individual purpose, leaders can ensure that AI adoption or any change adoption stays the course and drives sustainable value creation rather than reactive busyness.
The organizations that thrive are those that balance technological innovation with intentional, human-centered strategy.
In the end, combining all three of these - Indicators, Identity, and Individual - is the key to defining the personal economy you want to build.
Is there practical action from there? Of course.
But while others are blindly stepping to technology or process change or whatever will alleviate this moment of pain...
You will have direction.
You will have purpose.
You will have something that keeps you going when the going gets tough.
It's only through this that you stand a chance of beating out the odds against you...
And not running blindfolded into the gym wall just because someone told you to run.
