Because if you don’t do it, someone else will!
Video: Dare to Disrupt!
Daily Inspiration: “At this very moment, there are probably a bunch of really smart people figuring out how to disrupt your business model!”
“At this very moment, there are probably a bunch of really smart people figuring out how to disrupt your business model!” – Futurist Jim Carroll
Give it a few years.
You won’t even recognize the industry you are operating in.
That’s because the rate of business model change is accelerating in every single industry – and the global pandemic has made it faster. Here’s why:
- Right now, there are probably a bunch of really smart people figuring out to disrupt your business model
- If you aren’t busy thinking about disrupting your business model, they most certainly will.
- They’ll probably do this sooner than you think they will.
- The result is that 10 years out (or less), your business model will look nothing like it does today.
- Those that do mess up your business model are quite likely to be younger than you; for many folks, age provides for complacency.
- The fundamental change to your business model driven by this younger generation will be the result of digital, smart, intelligent, location-oriented technology.
- They’ll use this technology in such a way they’ll come out of the left-field with a business model idea that you’ve never even thought of before.
- Their business model will carry an undeniable ‘coolness’ factor that you can’t simply match.
- Most likely, you’ll discount the importance of their innovation, until it is much too late.
- The result will be dramatic change: it’s likely that your current business model will not even survive: and your company might not as well!
Examples of this type of disruption are occurring all around you right now.
It’s going to happen to you too.
So — what are you going to do about it?
Video: Why Do Some People Close Their Minds to the Future?
CEOs have a challenge. They need to align their team to ‘what comes next’ in order to figure out ‘what to do about it.’
Based on a discussion around electric cars and battery technology the other day, I got to thinking about what is holding many people back. I hit the virtual broadcast studio to film an overview of the trend; here’s a short extract with the salient points.
Video Flashback! Keynote on Manufacturing: Trends and Disruption
Here’s a look back at a great keynote four years ago this month.
This talk was for Legrand’s North American leadership meeting, where the CEO and his team were fine-tuning strategies and plans for the coming year. They’re big in the global tech industry, manufacturing a wide variety of component parts and cabling. My talk took a look at key trends providing opportunity in the manufacturing process, including the factory of the future, the Internet of Things, digitization, 3D printing, accelerated supply chains, and much more. Here’s a highlight clip.
Daily Inspiration: “What comes next? What are you going to do about it?”
“What comes next? What are you going to do about it?” – Futurist Jim Carroll
I love a great stage!
This one was in Connecticutt for LeGrand – a manufacturing company that needed a good look into the future of their industry for their senior executives on a wide variety of specific trends. It’s an example of where my business has been heading for 15+ years – away from association events and general conferences, towards very specific, CEO-level corporate meetings that are focused on some extremely customized topic issue.
The stage? Typical of what I began to see over time as companies started to invest heavily in these all-important team meetings. Here’s a short highlight clip – and the moment I was brought on stage to David Bowie’s Starman!
Does the quote neatly summarize my opening comments for many audiences? For sure!
Do you really know what trends are going to disrupt your world?
With that in mind, what do you plan to do about it?
Given the crisis of the last 16 months, many organizations had little time to think about these issues – they’ve been focused on triage, surviving, getting by. They’ve compressed 10 years of trends into but a few months as they focused on getting through the pandemic.
But now, as some regions begin to emerge into an era of recovery, they are once again beginning to think about their future beyond basic pressing, immediate issues – and are looking for guidance on what comes next. And more importantly, insight on what they need to do about it. The future promises to be faster than it was pre-Covid, the trends have more impact, and the world has accelerated.
As a tour guide that takes my audiences into the future, I look forward to challenging them once again!
Daily Inspiration: “Every problem is an opportunity!”
“Every problem is an opportunity!” – Futurist Jim Carroll
Invariably, during the summer, I learn a lot about the complexity of our voyage into the future from some of the folks I golf with. While they are busy concentrating on their next shot, my mind is often racing with some new bit of information with which I have been imparted. Such as it was yesterday.
We were having a discussion about the automotive industry, electric cars, and the recently stated goals in Canada and Europe to see the eventual elimination of the internal combustion engine and the dominance of electric vehicles. One older fellow scoffed at the idea – both the possibility of such a bold goal coming about, as well as the many problems that such a trend would present – such as an eventual massive increase in old electric car batteries. An environmental disaster!
I explained – after nailing a beauty of an iron shot into the green – that there was a trend underway in many industries that goes by several names – one of which is “design for deconstruction.” Led by Apple and some other hi-tech companies, the whole idea is that the lifecycle of a product should not include only the time from manufacturing up to the sale, but also the other side – the eventual deconstruction, disposal, or reuse of all constituent products. Most car manufacturers would follow a similar path I explained, discovering methods to utilize old, spent batteries. I also observed that many other companies are already springing up to turn them into valuable raw materials.
In other words, every problem is an opportunity! Old batteries are not a problem – they are a huge new opportunity waiting to be exploited.
To me, this is an obvious trend. Why do other people miss it? This got me thinking – why is it that some people find their view of significant new trends to be so limited? I started compiling a list while walking up the next fairway:
- they don’t understand the trend
- they refuse to try to understand the trend
- they won’t do any research on the trend
- they refuse to accept the reality trend
- they don’t appreciate the speed of the trend
- they can’t see the new trend because it is blocked by their thinking about an older trend
- they can’t get past their own bias about the trend
- they disbelieve the facts behind the trend, thereby rendering the trend invalid in their mind
- they prefer to think that most trends won’t really happen
- their narrow viewpoint doesn’t allow them to see the vast impact of the trend
I’m pretty certain that I’m on to something here with this list, and will keep working on it – it will probably turn into a key innovation structure as I did with my Innovation Killers listhttps://innovationkillers.jimcarroll.com – if you haven’t seen that, head over and take a look!
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