Welcome to Channel 2.0™
Having spent the past 24 years immersed in this ever-evolving industry, one undeniable truth remains: change is the only constant. Reflecting on the journey, it's remarkable to see how far we've come since those early days when agents embarked on the path of independence, facing the daunting task of convincing suppliers to embrace this third-party sales model we call, “The Channel”. Back then, SPIFs and residual commissions were unheard of, and the notion of Private Equity involvement in our domain would have been met with laughter and disbelief.
Fast forward to 2024, and the landscape of our industry has undergone a profound transformation in recent years. Looking back, it's evident that many of these changes have propelled us toward becoming a markedly improved version of ourselves. While the journey has, at times, been marked by moments of discomfort and uncertainty, the emergence of Channel 2.0™ signifies a pivotal shift. We find ourselves thriving in ways previously unimaginable, yet unmistakably different from our earlier iterations.
Indeed, the essence of our industry today embodies a blend of resilience and adaptation, a testament to our collective ability to embrace change and emerge stronger. As we navigate this new terrain, it's clear that Channel 2.0™ has not only arrived but has fundamentally reshaped the very fabric of our industry.
Many of us collectively theorize on what the future of this industry looks like and the one thing I can say with confidence is we are going to continue to adapt, advance, and evolve. In time, this industry will go through another iteration whether it be; acquisitions, consolidation, private equity, venture capital, or something different. The known over the next few years is continued change.
The question is, are we ready? I read a book as a part of my podcast some time ago, The Adaptation Advantage by Chris Shipley, and the future worker that is most attractive to hire is the one who shows the greatest ability to adapt to change. My question to you is, how are you adapting? What are you doing to remain relevant in this industry as we continue to evolve?