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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Everything Connects summary
Faisal Hoque and Drake Baer
How to Transform and Lead in the Age of Creativity, Innovation and Sustainability
4.1 (28 ratings)
13 mins
7 key ideas
Audio & text
What is Everything Connects about?
CEOs practicing meditation, the challenges of corporate politics, social differences between team members and customer satisfaction: it’s all connected. Using a holistic approach, Everything Connects (2014) will help you transform your working environment into one that understands such connections and supports as well as increases creativity and innovation.
About the Author
Faisal Hoque is an entrepreneur who founded MiND2MiND Exchange and B2B ForeSight. He has written articles for The Wall Street Journal, Fast Company, the Huffington Post and Forbes. He was also named one of the “Top 100 Most Influential People in Technology” by Ziff-Davis Enterprise.
Having previously worked as a contributing writer at Fast Company, Drake Baer reports for Business Insider, covering leadership, strategy and organizational psychology.
Table of Contents
Everything Connects
summarized in 7 key ideas
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Key idea 1 of 7
In this modern economy, you need to be innovative and deal with change today or you’ll perish.
Much like a surfer rides a wave, a company must ride the waves of economic change or it will go under.
In 1942, economist Joseph Schumpeter dubbed modern capitalism an innovation economy, with ”violent bursts and catastrophes” as well as revolutionary inventions. He described how products and companies are constantly swept away and replaced by new ones, calling it “creative destruction.”
To prevent being swept away, a company must innovate. Schumpeter argued that in an innovation economy, the market isn’t directed just by efficiency but by innovations that can alter entire markets.
The old model of success had companies offering the best product for the lowest price. Today, while one company works to create a cheaper product than the competition, another firm is instead developing an invention that makes that original product obsolete.
For example, Nokia was an efficient producer of mobile phones, yet the company fell behind and lost customers once smartphones were introduced.
A successful company not only needs to invent things to change the market, but also be able to constantly adapt to the changes in the market.
Yet it’s not just technology that is changing; we do things differently now, too. In many industries, a company that cannot recognize and adapt to the latest developments is going to fail.
Borders was once a major player in the retail book market. The company however failed to acknowledge the changes inspired by the internet, and chose not to enter the market for ebooks.
Other book retailers were able to adapt and thus stayed alive, while Borders went bankrupt.
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Best quote from Everything Connects
We have to assume that everything we think is right today will be wrong tomorrow.
—Faisal Hoque and Drake Baer
Who should read Everything Connects
- Anyone struggling to foster creativity in their company
- Anyone wanting to know how a leader’s mindfulness is connected to customer satisfaction
- Anyone wanting to strengthen their company in today’s rapidly changing business world
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