The agency invited Jim to speak to a group of senior leaders to speak on the issue of what leaders do to innovate during times of significant transition, and the transition of innovation throughout the world.
Archives for March 2015
We're slow, we're doomed, but we aren't going to do anything about it!
It’s an interesting time for many organizations. There is a wave of business model disruption, new competition, fast paced change, a massive transition in skills and knowledge — not to mention the impact of a massive wave of technology.
That’s often the context for the keynotes that I do; many times over the last 15 years, I’ve been invited in to challenge a global leadership team to how to deal with a fast paced future. Innovation is a key theme, and my job is the wake people up to the trends that will change their industry, careers, and opportunities.
I’ll always work several text message polls into my talks (through PollEverywhere.com) to gauge the mindset of those in the room.
And in the last 18 months, I’ve woven into most of my talks, three key questions:
- do you believe you are capable of dealing with a fast future?
- do you think your business model will survive the next ten years?
- are you prepared to innovate now, to deal with this reality?
I’ve come to this conclusion. Every single audience group has answered “No.” “No”. “No.”
In other words: we’re not ready for a lot of change; we know this change will likely have a devastating impact; but we’re just going to wait a while before we do anything about it!
The thinking, to me, is truly mind-boggling.
Case in point: here’s a recent poll with one recent global leadership meeting that I was asked to open.
The first question: are you ready to deal with a fast future?
Well, not really
Next question: do you think your business model will survive?
Definitely not.
Last question: What are you going to do about it?
Um, we will just wait it out.
I’ve tried this scenario with multiple groups through the last 18 months, and there is a deadly commonality to it.
It’s kind of scary, because it implies to me that a lot of organizations, associations, professions and industries are sleep walking into the future.
We live in fascinating times!
Consumer Goods & Technology Magazine: 2015 Innovation Outlook
I’m thrilled that I’ve again been cover in CG&T Magazine’s annual outlook
. This marks 4 years in a row!
This year my comments are short and sweet – I continue to believe that accelerating change with retail models, products, technology, mobile and just about everything else makes it difficult for organizations to ensure that their capabilities are aligned to their strategies.
Here’s what I wroe for this years piece:
Going into 2015 and beyond, the biggest issue for CG executives will be to think about how they have big holes that they need to fix — and fast.
The challenge is that with this tsunami of change, many companies still aren’t capable of coping, and so many mismatches become painfully clear:
- Strategy mismatch: Are you still trying to solve the social media challenges from 2013, while in 2015 it has shifted to mobile?
- Skills mismatch: What’s your bench strength with all the new technologies flooding the space?
- Cultural mismatch: Are you equipped for speed? Everyone is talking about being agile and lean — but do you find that even with those strategies you are still falling behind?
- Worse yet, your technology mismatch is probably becoming bigger than ever. How are you going to fix these holes?
Here are some key secrets of success in an era of high-velocity change: an accelerated innovation cycle, fuelled by the rapid ingestion of new technologies/methodologies. Work on your internal pipelines to gain a faster time to market, and know how to rapidly re-focus resources for opportunity or threat. All that needs to be done in a time in which volatility is the new normal. A pretty tall order, but it will help you close the mismatches that likely exist.
Article: 5 Things World Class Innovators Do that Others Do Not
I just found this article, which ran on the ERA blog after my keynote on the future of real estate, for their 2013 conference. It’s a good read!
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5 Things World Class Innovators Do that Others Do Not,
by Tara Reid, from Owning the Fence, ERA Real Estate Blog
Consider this: 65 percent of current preschoolers, kindergartners and first graders will work in a career that does not yet exist. And, if you are working on a degree based on science right now, it is estimated that half of what you learn in your first year will be obsolete by the time you graduate.
That is how fast things are changing in this world and according to Innovation and Trends Expert Jim Carroll; the future belongs to those who are fast. In fact perhaps media mogul Rupert Murdoch puts it best: “The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”
During the ERA 2013 International Business Conference Think Tank, Carroll explained that to keep up, you have to get ahead the way that today’s best thinkers and changers do. Here are 5 things world class innovators do that set them apart from the rest.
- Think big and bold. You can view a future trend as a threat or an opportunity. Take it as an opportunity, embrace it as change for the better and prepare to make the trend work for you by thinking beyond the now. How can you make the trend bigger and better? And, how can you help others navigate change? For example, in real estate, keep in mind, according to Carroll, people want a qualified advisor to help them get through the biggest investment of their lifetime. Figure out how to exceed their expectations and you have carved out your niche.
- Check your speed. You have to move quickly to stay in the game. World class innovators constantly up their speed while checking their quality. For example, it took Apple two years to sell two million iPhones; it took them two months to sell two million iPads. It then took them one month to sell one million iPhone 4’s but only one day to sell one million of the upgraded iPhone 4S model. They get faster while they get better.
- Reframe the concept of change. Innovation is about much more than just new products. What is innovation? It is running your business better, growing your business and transforming your business. If you want to be innovative think about how you can use technology to address those three actions.
- Ride generational acceleration. According to Carroll, the next generation thrives on moving things forward. Follow their lead and adapt to new ways of thinking and acting. Half of today’s global population is under the age of 25. Your role is to understand their ideas so that you can manage their capabilities.
- Challenge organizational sclerosis. Ever hear or say the words, “It won’t work,” or “I don’t think I can,” or “It’s too risky?” Such phrases are symptoms of organizational sclerosis, the fear of change. It is important to think big, be fast and transform how you do business so that you do not end up in an innovation rut. When change gets scary, keep this in mind: “Some people see a trend and see a threat. Innovators see the same trend, and see an opportunity.”
With these five actions in mind, turn your next “oh no!” moment into an “a ha!” moment. Take that threat and turn it into an opportunity to grow. The world is not going to stop changing and trends will pop up even more quickly so grab on, hold on tight, and go for it!
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