Are you trapped in the OLD economy?

In this week's Dial P for Procurement podcast , I dig back into my recent interview with Koray Kose and Rik Vera to re-examine the difference between the old economy, the new economy, and the space between.

Here are a few things I am sure of:

• The minute you are too busy defending your 'turf' to grow, it is all over. You can't innovate from a defensive stance. You also can't innovate if you resent the people you are competing with. Propel yourself forward; don't try to hold others back.
• The new economy will reward creativity and strong relationships. Both of those are exhausting and take time. We will need to reprioritize and automate to succeed. We also have to realize we are in a personal ecosystem as much as a business one. Burn bridges at your own peril.
• Elon Musk is a time traveler from the new economy. The more out of place he seems to you, the more connected you are to the old economy. However, as fascinating as it is watching him try to take Twitter private, I'm sure it does not feel awesome to the people who work at Twitter. Empathy will be essential in the new economy.
• There is no such thing as a free lunch. Each of us will have to give something up to gain admission to the new economy. With traditional authority-based models phasing out, most of us are not going to achieve the same kind of notoriety as the people who inspired us to follow our current path. We will have to define and measure success in completely new ways.
• Some people will chose to remain behind in the old economy, for different reasons. They have the right to make that decision and bear the consequences of it just as much as those of us trying to get into the new economy will have to do the same.

Other content released this week:

?? This Week in Business History for April 19th: Cross-word Mamma You Puzzle Me : Have you ever wondered who invented crosswords and why? What about the role they played in World Wars I and II? Listen to this week's podcast and you'll hear almost 100 years' worth of history on the crossword puzzle.

???The Sourcing Hero Podcast Episode 61 : The American Dream Campaign - Connecting Veterans with Opportunities with Paul Lawrence, a veterans advocate I met during the LinkedIn Creator Accelerator program.

?? Why does your company invest in supplier diversity? We all know it is the 'right thing to do,' but companies need ROI. Read my latest article on the Supplier.io blog to discover these 4 Unexpected Benefits of Supplier Diversity .

6?? Have a short attention span but want to stay on top of the latest procurement content? Listen to the Procurement 6 on Art of Procurement . Every week, a member of the team takes turns hosting - and this is my week! Click here to listen!

?? Don't Say Digital: Hitchhiker's Guide to the New Economy : The future will favor courageous people able to thrive in the midst of uncertainty. Find out what we need to do (and give up) to escape the old economy's gravitational pull.

?? I'm getting tons of emails from people wanting to know when the winners of the 2022 Supply Chain and Procurement Awards will be announced. Bad news - I am FABULOUS at keeping secrets! Join us by?signing up for the live awards ceremony ?on May 18th from 10am - 12n ET.

?? What are the best procurement and supply chain events happening next week? Buyers Meeting Point releases recommendations every Friday for the following week. Click here to receive them in your inbox on Monday morning!