Steven was interviewed by AdvisoryCloud on 07/08/2019 as part of our Featured Advisor Interview series.
AC - Tell us more about your main areas of expertise for being an advisor?
SR - The future of business will NOT be driven by the axioms that brought us into the industrial revolution of the 1940s or the information age of the internet, not even the principles of the digital revolution from a matured web environment. The future of business will ride exclusively on understanding how to develop the most significant element of business - HUMAN CAPITAL with AI here to stay - the MILLENNIAL'S driving the workforce and almost 80% of the worlds workforce either disengaged from their work or just uninterested and drawing a paycheck the world is walking into a perfect storm where the rise of a new entrepreneurial energy is going to create corporate chaos if today's leaders are not aware and actively creating a platform for change. As an adviser, I am using some proprietary mechanisms heavily focused on the application of imagination in the workforce to create a playful and highly engaged culture where work is fun and people are happy - all that transmits into higher productivity and profitability.
AC - Describe your main motivation for being an advisor?
SR - I have had the pleasure of some modest successes in business and I have had some epic business failures and the reality is I have learned way more through those failures than I ever did through my successes. End result is I love getting other people results.
AC - Elaborate on the types of situations, challenges or decisions, you feel you could add the most value to as an advisor?
SR - Blindspots - we all have them and for the highly successful corporate leader - their biggest blind spot to their success - helping them take a deep dive past the surface indicators to see how they got there and what could keep them from getting further is really important
Human capital challenges - anytime there is a disconnect between the workforce and the management and leadership - I am 1000 percent certain my mechanisms can help support bridge building quickly leading to a conversion of frustration or a diversion of energy away from business into a laser focus of enthusiasm for people
Transition management - change is everywhere and like never before - companies need to economize the change process and see the pillars of useful change are being redefined.
AC - Do you see any disruptive trends on the horizon in your industry or position?
SR - Yes for sure - the adviser role for years was and in large part still is frozen in the original ideas of consulting and advising which has been anchored in information, expertise, insight, and execution and that just doesn't play anymore because unlike in days gone by 80% of the clients were all getting the same answers and only 20% were specialty issues - the delivery of content is being trumped heavily by the context of a given situation. A.K.A. CULTURE and the things that made culture interesting and cohesive just 5 years ago don't even play - there is no more "cultural engineering" from the boardroom - and starts-ups have some particular advantages over large entities that have a board of directors and enormous shareholder issues before they even address the big piece the stakeholder.
So unless a consultant or adviser can put his or her pulse on the subjects of cultural vitality or employee engagement their value may become diminished - because if you don't address these two headliner topics for your millennial workforce you can be sure they will be out the door.
AC - Tell me about the most impactful project or decision you’ve been involved in as an executive.
SR - I had to think about that for a moment - I would say it was a period of about 4 years of my life that started with walking away from a minority ownership piece in an insurance/investment company to go start a mortgage/alternative asset-backed investment company - it required my greatest courage, my greatest willingness to trust my own ideas and to develop many of my strongest advisory skills today. It made me a ton of money and in the end it cost me everything - because the same principles that helped me grow it was the principles I departed from in its demise - from 7 people and a 50,000 dollar investment to 700 in 14 states and 21 offices to the verge of a pubic offering with high 7 figure net worth in just 3 years to total collapse and BK in the following year. I don't say any of it to impresses you or anyone who might read what you write, as much as to impress upon you - the power of failure and it impacts on the future trajectory of your life.
If you are interested in speaking with Steven Rix about this topic or others, you can book a meeting with him through his AdvisoryCloud profile here: https://www.advisorycloud.com/profile/Steven-E-Rix