Recently, the Mortgage Banking Association (MBA) announced that the October 2016 edition of Mortgage Banking magazine, a publication that has heavily impacted my own career as well as that of many others in the industry—will be the last edition to be printed. All of the news is going digital. There has been a mixed reaction to this and, as much a fan of digital media as I am, even I am sad to see it going away.
In many ways, though, this isn't a surprise. Across all industries, many media outlets have opted to go entirely digital. Even the ones that still have successful print publications also provide an online platform for readers to engage with the material. You read all of the time about companies that fail to develop a digital presence and end up going away due to the lack of foresight. This trend doesn't just provide a lesson for media, though. It also represents an important principle for leadership.
Leadership means living in the future. Organizations that play "catch-up" and try to adapt to trends too late in the game are, by definition, not leading; they are following. Innovation is absolutely integral to what it means to be a leader because, if you aren't out in front of the trends, then you are actually following those who are. Think about your leadership in your organization. Are you focused on the future, or are you stuck with the way things have always been? Are you truly a leader—or are you acting like a follower?
David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is [email protected].