Tackling an ever-changing world. What would Black Panther do?

As a leader within a large financial institution, I’m constantly on the lookout for inspiration from a range of diverse and thought-provoking sources. That’s why I brought my team together for a “Lessons in Leadership” gathering with a true subject-matter expert: Black Panther.

OK, full disclosure: technically, it was a viewing party, but with a serious business objective behind it. I felt we could learn a lot from the film, followed by some earnest discussion afterward. And we did. My biggest takeaway from “Black Panther” came from Shuri, princess of the fictional African kingdom of Wakanda and sister of T’Challa (Black Panther).

“Just because something works doesn’t mean it can’t be improved.” Shuri, sister of T’Challa (Black Panther)

Truer words were never spoken. Stasis can kill a business. Just ask Blockbuster about Netflix. Change isn’t just inevitable. It’s essential.

We’re living in a time of rapid, seismic change. The Googles, Amazons and Apples of the world are not only transforming business, but they’re also redefining cultural expectations of just about everything on the highest level imaginable. Ultimately, that affects how our organizations are viewed. So, how does a company respond to change when our entire society demands – no, thrives on – it?

My take? I like to learn from the innovation of others and pick areas to grow and change based on the core values of my organization and what’s important to our clients. We also need to balance what customers demand right now (and three, four, five years ahead), while remaining competitive and still  responsibly pursuing this quarter’s ROI.

Here’s what I mean.

Do what you do, well, better.

It’s essential to focus on the core competencies of your organization. I’m not tempted to try to be Amazon or one of the other well-known innovators, but I am fascinated with learning why they’re so effective in serving their customers. How do they gain the insights to transform an industry? How are they managing change in an intuitive way for their clients? What can I learn, and how can I apply it to my business? That’s my focus. Being impressed by market leaders in other industries can be greatly motivating and enlightening.

So, back to Shuri and “Just because something works doesn’t mean it can’t be improved.” I know that we at BMO have something that works. Our clients want what we’re offering. We know what makes them tick. Knowing that, it’s an easier step for us to figure out how to please them in unexpected ways. Do what’s best for your clients, in a way that makes them take notice, and you can’t lose. Ultimately, our clients don’t want us to be Amazon. They want us to be us. And there’s always room for improvement.

Focus on the client, not the ROI.

If you’re focusing only on the ROI, it may stop you from innovating and investing. There’s always going to be some form of capital that isn’t going to bring a return in the short term. When I think of innovators in the banking space or even among start-ups, I don’t believe they get valuations because of their returns. They get valuations because of their vision. If you’re focused on the cutting edge of customer experience – and if there’s a reason to do it – the ROI will come.

Building the team that will build change.

So, who will be by your side when change comes? To quote from “Black Panther” and T’Challa’s father, T’Chaka: “You’re going to struggle, so surround yourself with people you trust.” Choosing the right people will depend on your objectives and your situation.

T’Challa knew he couldn’t succeed on his own. He required help from a diverse set of team members and partners (Trust me, I may be geeking out a bit at this point, but it’s not necessary to have seen “Black Panther” to follow me here):

• The existing team. As T’Challa shifted away from Wakanda’s long-standing stance on not sharing its technology with the rest of the world, he relied on those closest to him (Ramonda, Shuri) to help lead the way. Leveraging leaders who already have an understanding and appreciation of your core strengths, but who also want to help drive positive change, can be invaluable in any situation. It also allows members of the existing team the opportunity to step up and grow. 
• New team members. You could say that M’Baku was always a member of the Wakandan team, but he and his Jabari tribe were largely detached and secluded from the rest of the tribes. Yet,  it worked. New team members can bring a fresh perspective and experience. Both T’Challa and M’Baku took steps to evolve beyond the views and traditions of their respective predecessors, enabling Wakanda to evolve.
• New partnerships. Agent Ross was a former fighter pilot, turned U.S. government agent, who transitioned from Wakanda outsider to vital partner. In the corporate world, partnerships can serve as a way to quickly add much-needed capacity or capability when driving change. While it was not planned, T’Challa’s partnership with Agent Ross proved to be vital to Wakanda’s evolution.

Inspiration to improve and drive positive change can be found anywhere, even in a Marvel movie. Just remember that what is good today, will probably not be good enough tomorrow. As a leader, you must balance the demands of the here and now with the promise of what’s to come. If you stay focused on your client’s needs and surround yourself with the right team, the journey will be much easier. 

And if you need inspiration, just set up your nearest boardroom for a team screening of “Black Panther.”