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Pound Ridge Native Helps Businesses Deal With Disruptive Age

Mark Monchek
Mark Monchek Photo Credit: Contributed

POUND RIDGE, N.Y. -- It's unchartered territory for any new business and Pound Ridge resident Mark Moncheck is hoping he can help you through it.

Monchek, Chief Opportunity Officer at The Opportunity Lab, has written "Culture of Opportunity: How To Grow Business In An Age Of Disruption," which was published in May.

In 2008, Monchek was at a low point. Right as the economy was crashing, someone who worked for him stole money from his company and he sank into a deep depression.

"I woke up in the hospital with a sense of gratitude and opportunity," Monchek said. "I started to see what this opportunity was for me."

Monchek said he saw companies like Bear Sterns, Lehman Brothers, Research in Motion and Nokia going out of business or being reduced to a tiny fraction while companie like Air BNB, Uber and Facebook were soaring.

"They saw this crisis as an opportunity to do something different while other companies were living in fear," Monchek said. "It was a totally different way to think about the culture of a company."

The market has become much more disruptive with things being sped up and the world getting smaller, Monchek said.

"The world was predictable and companies had 10-year plans," Monchek said. "Macy's, Sears and Best Buy bet on big box stores, they had a footprint on real estate."

Businesses will be measured on their customer engagement, employee engagement, new product development, the speed of their service and how they look for and evaluate new opportunities, Monchek said.

Monchek said businesses should create "A Year of Opportunity."

"Turn it into an opportunity plan," Monchek said. "Have defined results with a powerful opportunity team. Know what successful DNA is."

A company like Uber knew people had cars and wanted to make money while hearing about how people always had trouble getting taxi cabs.

"They took these current opportunity forces and said if we develop an algorithm, we got something," Monchek said. "Look at AirBNB- millions of people had a home and were willing to rent their home for extra money."

Businesses also have to make sure they focus on being resilient and sustainable.

"Businesses can no longer the impact they have on the environment or the community they work in," Monchek said. "Millenials will not buy or work for them or live in the communities where they do business."

To purchase the book, click here .

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