I am going to show one family vacation photo. I apologize first to any citizens of Britain who may be in the room.

This is a great example of focusing on the wrong thing. I'm going to start out with some difficulty of predicting the future. I want to show you how sometimes we focus on the wrong thing and that predictions are mostly wrong.

Here is an image of the dangers of forecast: It's the prediction of the use of cell phones.

ATT was a relatively late investor in the cell phone market. The consequence of that was the end of the market for Ma Bell. This is a bit of a stretch but had they been a leader there may have been another future for them

I synthesized the forms you turned in last night. If you see that I've misinterpreted any of your comments, please let me know. So let's look at the aggregate of your responses.

People are thinking of these strategic questions. Here are your responses to the questions, what your issues are, and what are the obstacles.

There were a number of interesting comments and they will all be available on the website.

The first thing I want to point out is that when an organization reaches that moment of change, you have to go through unlearning. There comes a point when you no longer fight the impending reality. From this moment of truth you can undertake meaningful change. You need to confront reality first.

This is a model of personal change, but we've adopted it wholeheartedly as a corporate model of change. What this means to us from the standpoint of strategy is that we can make an observation of how organizations think about the future.

Most companies predict one future and then have one strategy to address that future. If you look at the graphs with those quotes, you can see that reality is not predictable.

What we advocate is that you want to prepare many options for many futures. The future is rational only in hindsight. It takes a lot of time and effort to do this. As an aggregate, as a community you have the resources to do that.

In our view, innovation and strategy are intimately linked. You can't talk about performance without those things too. To collaborate effectively across the entire chain is critical to success particularly in effecting change. You must be able to talk to each other.

The understatement of the year is, "The current situation faced by the CDFI industry is an opportunity for collaboration, innovation, strategy design and execution."