Made for walking?

As I struggled around London yesterday, between Tube stations and meeting venues, a version of Nancy Sinatra's 1966 hit single was running through my head, like a kind of feverish mantra.

My formal black leather shoes appear to have ticked all the right boxes when I bought them: size, fitting, build-quality, reputable manufacturer, compliance with my wife's sense of taste...What one could not say about them, however, was that they were easy or comfortable to walk in.

Which, when it comes to shoes, is not an insignificant part of their purpose in life, I would have thought. Shoes need to facilitate movement, not cripple you in the process.

As I nursed a rapidly-developing blister I thought this a reasonable metaphor for the kinds of business model that one encounters within IFA firms, even those ostensibly preparing for the RDR (I am not concerned here about those preparing to exit stage-left at the end of 2012, of which there appear to be a frighteningly large number).

In business model terms, we need enough structure to support us in our journey from A to B, but not so much that it hinders every incremental step along the way. We need enough flexibility to allow us to adapt or compensate for obstacles that require rapid avoidance, or for sudden, unforeseen changes - rather than hemming ourselves in with a restrictive mindset that does not permit us to develop or react to circumstances. At times, we need a capacity for speed (ie. to make sudden and significant change) whilst at others we'll need to settle in for the long haul (prolonged, focused movement towards a desired goal).

Yesterday, my conclusion was that "These shoes are not made for walking" (apologies to Nancy), and I decided to relegate them for use in contexts which don't require much movement. I need a new pair of shoes, that will support my objectives - a pair of Nike trainers come to mind. Sometimes, you may need to make a similar kind of decision about your business model - no end of 'working with it', or fine tuning it is going to cut the mustard - it will simply continue to be an ordeal for all concerned.

[A quick reminder for ValidPath Members who have not signed up yet: our 6th December Workshop ('Money & Ethics') is intended to provide some space for this kind of consideration.]

Kevin Moss, 25/11/2011