A Crisis Is an Opportunity in Disguise, Just Add Grit!
The Chinese word for crisis is made by combining two characters meaning crisis and opportunity. The wise and ancient Chinese understood that the true nature of a crisis is an opportunity in disguise.
A crisis implies change that has not been invited and an outcome that is not predictable. Rarely do changes come into our life that do not require an significant amount of restructuring and readjustment.
Similar to remodeling a house, you will be required to tear down what needs to be renovated and replace it with stronger materials. This can feel like a crisis when your abilities are tested and you reach that point where you dig deep for the grit to endure the reconstruction.
Grit is what separates successful people from their competition. Grit is not knowing what to do, but doing it anyway. It is endurance, conviction, and pluckiness. It will take you where you want to go when change starts to feel like a crisis.
Related: 5 Things Your Walk Says About You
Here is how to develop grit in times of crisis:
1. Know When To Stop Struggling
There is a difference between knowing when to quit and knowing when to stop the struggle against something that we cannot stop. When we quit, we throw in the towel, admit defeat, and feel like a victim of our circumstances.
If we stop the struggle, we face up to our fear. “What is the worst that could happen?” This is the first step toward detecting new possibilities that may reveal themselves in our circumstances.
How To Make It Work For You: Do not quit when you feel you can no longer deal with a crisis. Instead, find ways to adapt to your new circumstances. Have the grit to stay in the game but be flexible in your attempt to correct a situation according to your idea of “right.”
2. Manage Emotions
When facing a crisis, emotional incontinence is a temptation and we share our sorrows with anyone who will listen. To those who have created our crisis, it’s an admission that they have the power to hurt us. If the people who are listening are outsiders, they are helpless to offer us sound advice on how to move forward.
This doesn’t mean you should ignore and tamp down what you are feeling! Emotional competence is one of the cornerstones of mental toughness. If we are emotionally intelligent and aware of our innermost emotions, we have a much better chance of responding to a crisis in a way that is positive.
How To Make It Work For You: If you manage your emotions, thoughts, and behavior during a crisis, you will have a better chance of recognizing new opportunities as they unfold.
3. Keep Ego In Check
Our ego takes a beating when shit hits the fan and we find ourselves up to our knees in it. No one likes to suffer or face unpleasant situations. They are, however, a fact of life and if we can keep our ego in check, we can come through them stronger.
Everyone knows how to survive in good times. That doesn’t take any talent. It’s the trying times that separate those who have what it takes to succeed from those who just project the image.
How To Make It Work For You: Developing grit is a quality that is essential for our personal growth. We take responsibility for our actions. When we stop whining, pointing fingers, and blaming others—especially during a crisis—we are able to choose our destiny.
4. Maintain Clarity Of Vision
Vision is where you see your life heading. Goals are the stepping stones to get there. Goals should be reviewed and revised on a yearly basis. If you don’t, goals can end up obstructing your original vision for yourself.
Vision and passion are the linchpin of grit. It is doing something and following a dream that gives you both value and meaning.
How To Make It Work For You: When you feel your grit begin to waver, remember the reason you want to accomplish your goal. If you surrender and give up, ask yourself if it’s because there is no fire in your belly and you are not really following your vision.
5. Develop An Entrepreneurial Mindset
Most interviews or studies of entrepreneurs only look at people who have been successful. They rarely focus on asking questions about what made them successful in the first place. It’s very difficult for people to describe themselves at the beginning of their career. Most of us could not remember what was going through our mind, especially if we’re scrambling to keep our company afloat.
In a recent study, researchers interviewed over 800 entrepreneurs who had not been in business for more than 3 months. They found two commonalities in the thinking of the most successful entrepreneurs: 1) they could not come up with reasons they might fail, and 2) they couldn’t care less what people think about them.
How To Make It Work For You: Find something that makes you happy and go for it. At the end of the day, the way you feel about yourself and your potential will give you confidence that you can develop the grit you will need in times of crisis.
China's Push Toward Excellence Delivers a Global Robotics Investment Opportunity
Written by: Jeremie Capron
China is on a mission to change its reputation from a manufacturer of cheap, mass-produced goods to a world leader in high quality manufacturing. If that surprises you, you’re not the only one.
For decades, China has been synonymous with the word cheap. But times are changing, and much of that change is reliant on the adoption of robotics, automation, and artificial intelligence, or RAAI (pronounced “ray”). For investors, this shift is driving a major opportunity to capture growth and returns rooted in China’s rapidly increasing demand for RAAI technologies.
You may have heard of ‘Made in China 2025,’ the strategy announced in 2015 by the central government aimed at remaking its industrial sector into a global leader in high-technology products and advanced manufacturing techniques. Unlike some public relations announcements, this one is much more than just a marketing tagline. Heavily subsidized by the Chinese government, the program is focused on generating major investments in automated manufacturing processes, also referred to as Industry 4.0 technologies, in an effort to drive a massive transformation across every sector of manufacturing. The program aims to overhaul the infrastructure of China’s manufacturing industry by not only driving down costs, but also—and perhaps most importantly—by improving the quality of everything it manufactures, from textiles to automobiles to electronic components.
Already, China has become what is arguably the most exciting robotics market in the world. The numbers speak for themselves. In 2016 alone, more than 87,000 robots were sold in the country, representing a year-over-year increase of 27%, according to the International Federation of Robotics. Last month’s World Robot Conference 2017 in Beijing brought together nearly 300 artificial intelligence (AI) specialists and representatives of over 150 robotics enterprises, making it one of the world’s largest robotics-focused conference in the world to date. That’s quite a transition for a country that wasn’t even on the map in the area of robotics only a decade ago.
As impressive as that may be, what’s even more exciting for anyone with an eye on the robotics industry is the fact that this growth represents only a tiny fraction of the potential for robotics penetration across China’s manufacturing facilities—and for investors in the companies that are delivering or are poised to deliver on the promise of RAAI-driven manufacturing advancements.
Despite its commitment to leverage the power of robotics, automation and AI to meet its aggressive ‘Made in China 2025’ goals, at the moment China has only 1 robot in place for every 250 manufacturing workers. Compare that to countries like Germany and Japan, where manufacturers utilize an average of one robot for every 30 human workers. Even if China were simply trying to catch up to other countries’ use of robotics, those numbers would signal immense near-term growth. But China is on a mission to do much more than achieve the status quo. The result? According to a recent report by the International Federation of Robotics (IFR), in 2019 as much as 40% of the worldwide market volume of industrial robots could be sold in China alone.
To understand how the country can support such grand growth, just take a look at where and why robotics is being applied today. While the automotive sector has historically been the largest buyer of robots, China’s strategy reaches far and wide to include a wide variety of future-oriented manufacturing processes and industries.
Electronics is a key example. In fact, the electrical and electronics industry surpassed the automotive industry as the top buyer of robotics in 2016, with sales up 75% to almost 30,000 units. Assemblers such as Foxconn rely on thousands of workers to assemble today’s new iPhones. Until recently, the assembly of these highly delicate components required a level of human dexterity that robots simply could not match, as well as human vision to help ensure accuracy and quality. But recent advancements in robotics are changing all that. Industrial robots already have the ability to handle many of the miniature components in today’s smart phones. Very soon, these robots are expected to have the skills to bolster the human workforce, significantly increasing manufacturing capacity. Newer, more dexterous industrial robots are expected to significantly reduce human error during the assembly process of even the most fragile components, including the recently announced OLED (organic light-emitting diode) screens that Samsung and Apple introduced on their latest mobile devices including the iPhone X. Advancements in computer vision are transforming how critical quality checks are performed on these and many other electronic devices. All of these innovations are coming together at just the right time for a country that is striving to create the world’s most advanced manufacturing climate.
Clearly, China’s trajectory in the area of RAAI is in hyper drive. For investors who are seeking a tool to leverage this opportunity in an intelligent and perhaps unexpected way, the ROBO Global Robotics & Automation Index may help. The ROBO Index already offers a vast exposure to China’s potential growth due to the depth and breadth of the robotics and automation supply chain. As China continues to improve its manufacturing processes to meet its 2025 initiative, every supplier across China’s far-reaching supply chains will benefit. Wherever they are located, suppliers of RAAI-related components—reduction gears, sensors, linear motion systems, controllers, and so much more—are bracing for spikes in demand as China pushes to turn its dream into a reality.
Today, around 13% of the revenues generated by the ROBO Global Index members are driven by China’s investments in robotics and automation. Tomorrow? It’s hard to say. But one thing is for certain: China’s commitment to improving the quality and cost-efficiency of its manufacturing facilities is showing no signs of slowing down—and its reliance on robotics, automation, and artificial intelligence is vital to its success.
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