Jim Carroll- Futurist, Trends & Innovation Keynote Speaker

Back in the spring, when the entire world was caught up in the midst of global economic doom, I had a long conversation with a Dubai-based journalist. He was seeking my insight for an article on what a nation, city or economic region should do to remain competitive in the global economy.

I didn’t realize it at the time, but I suspect his call was related to an article that had run the day before (“Dubai turns to PR to revive its image,” The Financial Times, April 2, 2009), noting that the city state had hired a public relations firm to handle its financial communications strategy and “head off negative media coverage of its troubled economy.”

The world certainly changes fast and, as I stated in my August column, “a brand is no longer what you say it is — it’s what they say it is.” I was talking about consumer products, but we now live in a time when the perception of an entire economic region can change literally overnight.

Think about that in the context of Dubai: just a short time ago, it was one of the world’s most dazzling success stories. Then came the market meltdown, the huge challenges in the global economy — and suddenly the shine was off this burgeoning world-class city. Today, of course, it looks a bit more like a financial basketcase than a shimmering global success story.

I spoke to the fellow about a wide variety of issues, but emphasized that one of the most important things politicians, economic development officers, community leaders, boards of trade executives and others should be thinking about now is their region’s image on the global stage. Given the rapidity of the meltdown and changing circumstances, locations that were once seen as vibrant, progressive and growth-oriented are suddenly finding themselves with a different “brand.”

And who would want to rest their personal future economic success upon the brand of an economic region in decline? Who would want to relocate a business to such an area, or consider a career-based move to an area that had a damaged brand?

Clearly, success in a global economy on the rebound will go to those regions that can continue to draw growth industries, specialized skills and global attention; and to those willing to innovate in terms of how they promote their brand.

More information:

• Read Dubai turns to PR to revive it’s image

The CEO of the American Chamber of Commerce recently caught the essence of the state of our “new normal“, when he observed that we’re in the midst of “this move from a really bad economy, to the next economy.”

What is the shape of that next economy? While we can’t be certain as to the specifics, we do know that it is going to involve a lot more high velocity business change. If that’s the case, then the ability of an organization to respond to rapid, relentless, continuous change that will increasingly define its future success.

And so as we climb our way out of a global recession, it’s perhaps a good time for business organizations to ask themselves if they’re well positioned for what comes next – whatever that might be!

Are they? I’m not so sure. In the last decade, as a futurist and innovation consultant speaking at countless numbers of global conferences, I’ve had the remarkable opportunity to spend time with the senior leadership of some of the worlds most innovative, world-class organizations, ranging from Rockwell Collins and General Dynamics, to the Walt Disney Corporation, Lincoln Financial and Ingersoll Rand, among others.

In doing so, I’ve witnessed first hand what innovation leaders are doing to ensure that they can survive and thrive in a period of rapid economic change.

What are they focused on?

• Mastering fast markets: they’re immersed in a world in which product innovations occur so fast that “time to market” is now measured in weeks rather than years.
• Product innovation: They’re busy ensuring that they have a continual pipeline of new products or services that will generate new revenue as old revenue is displaced.
• Dealing with disruptive technology: They’re dealing with the fact that a furious pace of technological innovation continues unabated, with the rapid emergence of new technologies that change entire industries: what happens, for example, when our cell phones and smart phones become the credit card infrastructure of the future?
• Customer engagement: They are involved in rapidly changing the method by which they engage with their customer base and re-energizing their brand, knowing that consumer mindset has become increasingly difficult to capture as the relentless march of social networking technologies continues unabated.
• Business model innovation: They are busy innovating with business models, knowing that the only certainty for future success is uncertainty. Consider Wizzit, a South African bank that is based entirely upon the exchange of text messages. That business model disruption right there!

No matter what type of high velocity change organizations are dealing with, in many cases it comes down to their adaptability and capability to share ideas, collaborate, and form ‘fast teams’ to tackle new opportunities and challenges.

It’s not just these areas that they are focused upon. They also know that their ability to compete on the global stage requires that they operate with a startling degree of efficiency. They ensure that they have a cost structure that permits them to operate in a world of razor tight margins. They know that their success increasingly comes from the existence of an intelligent, up to date network and technology infrastructure that provides the foundation for their innovation engine.

That’s the new world of business, and we’d do well to pay attention to it. The reality for many organizations going forward is that they must learn to act and operate at the same high degree of razor-sharp clarity of action as any other global competitors. That means squeezing out every drop of potential efficiency as operating margins become thinner. Managing with continued ongoing cost input volatility, particularly as a result of the wild gyrations in global currency markets. Learning to collaborate and generate innovative insight at blinding speed.

In a nutshell, many companies must operate more efficiently, and learn to contend like global competitors. They need to learn to scale, act fast, innovate fast, and compete fast.

To do that, they’ve got to make sure that they’ve got the necessary foundation in place that allows us to do what the global competition does.

Next week, I’ll be in Jacksonville, as the lunch time keynote speaker for the annual meeting of the Materials Handling Association of America. We’ll have about 300 executives in the room, from a broad cross section of North American industry.

My topic? “Moving Beyond the Meltdown: Aligning Yourself for Growth Through Innovation“.

In the last twelve months, I’ve had a unique first hand opportunity to witness what’s happening on the ground throughout corporate North America as companies have grappled with the recession. Throughout this time, I’ve been fortunate enough to speak at a wide variety of leadership meetings, management get-togethers and other corporate events for a fascinating list of Fortune 500 organizations, as well as many prestigious national associations.

And in my own small way, I’ve been busy helping people to understand what they need to do to innovate their way into the “next economy.” That’s because there are an increasing number of CEO’s or other members of senior management who are bringing me in, in order to help place emphasis on their message of the urgency of change.

What’s clear is that we are in the midst of a pretty significant economic transformation. As Mick Fleming at the American Chamber of Commerce put it recently: “It’s going to be this move from a bad economy, to the next economy.”

What is the shape of that next economy? The scope of the change can be seen in the types of deep, transformational change that is underway in many an industry. Consider manufacturing – clearly, we’re moving from a world of mass production, to mass customization and agility-based manufacturing. I often use the example of Honda, as noted in a Bloomberg news article back in 2008:

“Honda’s assembly lines can switch models in as little as 10 days ….. by contrast, it could take months for most rivals to make the same change.”

Clearly, the Detroit based old manufacturing business model was seriously and deeply flawed. The newer model, based on agility and flexibility is the model that will take may manufacturers into the future.

There’s a similar fundamental transformation underway in many other industries — and to understand the link between future trends and innovation, you must get into that mindset. Take health care — 20 years from now, it will look nothing like it does today, as we move to a world of preventative medicine.

And what’s really happening with the global economy are a number of trends that point to growth:

• There are a tremendous number of new companies and new industries being built around the high velocity of ideas that surround us – which is increasing the pace of business startups;
• New ideas continue to be explored, markets grow, and industries emerge as rapid innovation occurs in health care, agriculture and countless other fields. It’s all about rapid science today — and exponential knowledge growth leading to faster discovery of the “next thing”
• Business model innovation continues unabated : I’m seeing revolutionary trends with mobile text message based banking systems, for example
• Small organizations continue to have the advantage of capitalizing on opportunity quicker; today, it’s all about speed, and these are the innovators who often win in big markets. Just look at what’s going on in pharmaceutical research, where the majority of new discoveries are happening in small labs

It’s easy during a time of economic volatility to lose sight of where the global economy is really headed. Yet while stock markets might rock, innovation thrives.

What’s my role? In each and every case, the individuals who have engaged me know that their industry and the world they live in is set for deep, systemic, transformational change. They have a compelling sense of urgency. They know that maybe the rest of their team does not share the sentiment; they’re suffering from organizational sclerosis; their ability to understand the future is clogged up by todays’ short term focus.

Leaders today know that they need to wake their people up, shake them out of their complacency, and give them a clear understanding that they had better start thinking about the future — and fast — in order to keep up with high velocity change.

And perhaps, if they are lucky, stay one step ahead of everyone else.

More information:

• Material Handling Association of America – 2009 annual conference
• Blog post: Are you watching the major transformations, or just the piddly stuff?

Just over a year ago, the global economy changed.

What has it changed to? When I keynoted the Missouri Governor Economic Development conference in St. Louis two weeks ago, I offered this quote from the American Chamber of Commerce: “It’s going to be this move from a bad economy, to the next economy.”

What is that next economy? No one is certain, but what we can be sure of is that many industries will be fundamentally different; business models will continue to evolve at a faster pace; new revenue opportunities will continue to emerge; customer expectations will ramp up in terms of quality and service; we’ll see the ongoing emergence of new competitors; product life-cycles will continue to shorten as innovation speeds up; and a lot of transformative change will occur in markets and industries as really innovative people continue to shake up the fundamentals.

So how are companies adapting to these realities?

Since the events of last year, I’ve been out on the road working with dozens of organizations. I’ve seen and have worked with two different types of organizations and leaders. I’ve seen innovation failures — companies that are stuck in their economic rut, and unable to figure out what to do next. In other cases, I’ve encountered some real pioneers and fast-movers. They are the innovation leaders — they have the same sentiment that I posted in a blog a year ago, in that they know they can’t panic — they have to go forward by innovating, changing and adapting.

So what’s holding the innovation laggards back? I think there are several common attributes:

1. Fear of the unknown: I still see many organizations who are driven by uncertainty. What happens if our market doesn’t recover? What happens if we can’t rebuild the top line? What happens if our customers don’t start spending again? So much fear and uncertainty causes a form of leadership and organization wide paralysis to set in; they’re like deer caught in a headlight, and are frozen in time. Avoid that fate – and fast!
2. Inertia is easy: when confronted by change, many people react by …. doing nothing. When things are uncomfortable, the easiest thing to do to deal with that discomfort is to avoid it. Such thinking causes many organizations and the people within them to fall asleep. They keep doing what they’ve been doing before the recession, hoping that will carry them forward into our next, different economy. Obviously that can’t work, for a whole variety of different reasons.
3. It’s easy to avoid tough decisions : organizations are faced with a lot of change, in terms of business models, customer expectations, cost pressures, new competitors, and countless other challenges. To deal with any one of these issues requires tough decisions, but in many cases, it’s easier to put those decisions off into the future rather than having to deal with them.
4. An unwillingness to confront the truth: your product might be out of date; your brand might not been seen as relevant and keeping up to date with fast paced innovation in your marketplace; your sales force might be wildly out of date in terms of their product knowledge; your competitors might have a more efficient cost structure because they made the heavy IT investments that you did not. I could go on, but the point is this: you might have serious systemic problems, and are simply unable or unwilling to focus on fixing them. Have a reality check, and use that as a catalyst for action.
5. A short term focus: you are still caught up in the economic-downturn hysteria headlines, and don’t think about business trends longer than three months. By doing so, you are missing out on the fascinating transformations occurring in many markets and industries, and don’t see the key drivers for future economic growth, with the result that you aren’t capitalizing on them. Innovative organizations have moved beyond the meltdown, and are already busy positioning themselves for the inevitable long term recovery.
6. A culture that is risk adverse: so far, you’ve survived through cautious, careful manoeuvres. Yet the recession has left you naked with that strategy: going forward now requires trying to do a lot of things you haven’t done before. You’ve got a culture that doesn’t accept such thinking. Change that — now!
7. Paralyzed by the fear of failure: related to your risk aversion is a culture that abhors mistakes. Anyone who errs is shunned; people whisper quietly about what went wrong, and what it might mean. Can that thinking: you should take your failures and put them up on a pedestal. It’s more important that you try things out, and learn about this new fast paced, post-recession world, since what worked for you in the past obviously won’t work for you in the future.
8. Failure to adapt at fast markets : I’m dealing with companies that know that constant innovation with top line revenue — which means product and service innovation — is now all about time to market. You’ve got to have an innovation pipeline that is constantly inventing and reinventing the next revenue driver. What you sold in the past — you might not sell tomorrow. How are you going to fix that? By getting into the mindset of the high velocity economy.
9. A refusal or unwillingness to adapt to new methodologies and ideas: in the manufacturing sector, it’s all about Manufacturing 2.0 or 3.0 or the next phase … in every industry, there is no shortage of new ideas, methodologies, processes, and fundamental change in terms of how to get things done. Maybe you’ve closed your mind off to new ideas, with the result that you fail to see how your competitors are rapidly shifting their structure, capabilities, time to market, product line, and other fundamentals. Wake up — we’re in the era of the global idea machine, and the result is that there is a tremendous amount of transformative thinking out there about how to do things differently. Tune in, turn on, and rethink!
10. A loss of confidence: this economic downturn has had the effect of causing such widespread damage in various industries that some people and organizations and leaders have lost their faith in the future. They aren’t certain they can compete, adapt and change. Perhaps this is the biggest challenge of all to overcome — but you can only overcome it by getting out of your innovation rut and moving forward.

Bill Gates once observed that “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. Don’t let yourself be lulled into inaction.”

It couldn’t have been put better. What’s your choice – to be an innovation leader, aware of where we are going in the future, or an innovation laggard, still mired in short term thinking?

Think growth!

One year ago today, I was on stage in Sydney, Australia, opening the 2008 Toshiba Mobility Exchange Conference.

Part of my talk focused on the issue of “innovation in the high velocity economy.”

Looking back at a clip from the talk, one year after the global economic meltdown, some key points continue to remain extremely valid going forward as the economic recovery begins.

In a summary, my point then, and my point now, is that innovative organizations concentrate on:

• an accelerated innovation cycle
• rapid ingestion of new technologies / methodologies
• faster time to market
• rapid re-focusing of resources for opportunity or threat
• rabid focus on operational excellence
• innovating for rapid customer change
• nomadic workforce
• rapid response to volatility

If you can nail those things, you are well positioned to deal with what the global economy tosses your way.

Looking back at my slide deck, I concluded with the observation that high-velocity innovators concentrate on “global scalability, rapid assembly of teams, and hierarchy destroyed, because of a relentless focus on fast, emerging opportunity.”

I don’t think any of that has changed despite everything that has gone in the last year, and it still provides a good framework for innovative thinking.

I’m doing a keynote for a leading global loyalty management company on Thursday; I’ll be incorporating several live text message polls into the talk, in order to have a truly interactive experience on the stage — this is something I do quite often.

In advance, I’m running a brief test of the polling service I use. Please participate in this poll to help me ensure I’ve got things scaled correctly.

POLL NOW CLOSED; THESE ARE THE FINAL RESULTS!

Simply use your cell phone to send in a text message to 99503, with the text response (i.e. ONEYEAR) in the body of your message (no charge for the poll from me!) or go to http://poll4.com on your Web browser and type in the one word response.

Keep an eye on this blog entry, as the results should update dynamically.

N.B. The chart is small; we’ve contacted tech support to see if we can scale it!

Enough said. Get over it. Get out and innovate.

Think growth!

I led a small workshop last week after an event, focused on the issue of “how can we establish opportunities for growth during an economic downturn.”

The cover of my handout was titled, “It’s January 15, 2020: What did we do to move through the great recession of 2009.” Inside, I presented a number of scenarios that challenged the participants to think about innovation strategies that could be pursued right now, in order to provide that growth.

The concept resonated extremely strongly. All around me, I see opportunities for growth in a wide variety of industries. And what is becoming obvious is that some organizations are aggressively adopting strategies that involve “aggressive innovation” to change their direction now, rather than later.

Since last year, when the recession began, I’ve seen some of the best and worst approaches to how organizations are dealing with the challenges in the economy. And I go back to a previous blog post, in which I identified a list of 10 more things that smart, innovative companies do to create an overall sense of innovation-purpose. It’s still a great list, and is worth repeating.

• Heighten the importance of innovation. One major client with several billons in revenue has 8 senior VP’s who are responsible for innovation. And the fact is, they don’t just walk the talk — they do it. The message to the rest of the company? Innovation is critical — get involved.
• Create a compelling sense of urgency. With product lifecycles compressing and markets witnessing fierce competition, now is not the time for studies, committee meetings and reports. It’s time for action. Simply do things. Now. Get it done. Analyze it later to figure out how to do it better next time.
• Ignite each spark. Innovative leaders know that everyone in the organization has some type of unique creativity and talent. They know how to find it, harness it, and use it to advantage.
• Re-evaluate the mission. You might have been selling widgets five years ago, but the market doesn’t want widgets anymore. If the world has moved on, and you haven’t, it is time to re-evaluate your purpose, goals and strategies. Rethink the fundamentals in light of changing circumstances.
• Build up experiential capital. Innovation comes from risk, and risk comes from experience. The most important asset today isn’t found on your balance sheet — it is found in the accumulated wisdom from the many risks that you’ve taken. The more experiential capital you have, the more you’ll succeed.
• Shift from threat to opportunity. Innovative organizations don’t have management and staff who quiver from the fear at what might be coming next. Instead, they’re alive from breathing the oxygen of opportunity.
• Banish complacency and skepticism. It’s all too easy for an organization, bound by a history of inaction, to develop a defeatist culture. Innovative leaders turn this around by motivating everyone to realize that in an era of rapid change, anything is possible..
• Innovation osmosis. If you don’t have it, get it — that’s a good rule of thumb for innovation culture. One client lit a fuse in their innovation culture by buying up small, aggressive, young innovative companies in their industry. They then spent the time to carefully nurture their ideas and harness their creativity.
• Stop selling product, and sell results. The word solution is overused and overdone, but let’s face it — in a world in which everything is becoming a commodity and everyone is focused on price, change the rules of the game. Refuse to play — by thinking about how to play in a completely new game.
• Create excitement. I don’t know how many surveys I saw this year which indicated that the majority of most people in most jobs are bored, unhappy, and ready to bolt. Not at innovative companies! The opportunity for creativity, initiative and purpose results in a different attitude. Where might your organization be on a “corporate happiness index?” If it’s low, then you don’t have the right environment. Fix that problem — and fix it quick.

What are you doing right now to make sure that when you look back from January 15, 2020, you’re happy with the fact that you developed the right sense of purpose?

I wrote this PDF report last spring, before the recession set in. Yet I still think it makes for a lot of powerful arguments as to where we will see industrial and market growth in the future.

From the introduction: Gloom has set in on global markets. Volatility rages. Some organizations have gone into a mode of “aggressive indecision,” deferring action while they try to figure out “what comes next.” A pretty lousy strategy that is doomed to fail in the longer term.

Future oriented leaders understand the reality of growth. They know that we live in a time in which opportunities for growth abound. They’ve aligned the mission of the organization so that they are capitalizing on real opportunity, not short term economic challenges.

Growth is everywhere

It’s easy during a time of economic volatility to lose sight of where the global economy is really headed. Yet while stock markets might rock, innovation thrives.

New ideas continue to be explored, markets grow, and industries emerge. A variety of trends indicate that opportunities for growth continue to surround us.

• Global food production must double in the next twenty years to match
  population growth. There’s nothing but upside in agriculture!
• New industries and markets continue to emerge as advancements in the
  science behind energy, infrastructure, connectivity and health care drive fascinating new areas of growth.
• Many simple and obvious trends drive growth. Generational growth drives the rapid emergence of new markets: by 2020, 17% of the global population will be 65 years or older. Someone will sell a lot of phones with really big buttons!

Think growth. Think opportunity. Innovate for future, don’t stagnate with the past.

More information:

• Read Where’s the growth : global innovation opportunities for the long term
• Read Infrastructure is the new plastic
• Read 7 Things to Do Right Now as the Upturn Begins

Business Week ran an article in January, “10 Worst Innovation Mistakes in a Recession.”

It’s easy to point out mistakes. It can be harder to indicate what you should be doing.

I’ve been out speaking to organizations about trends, the future, innovation and creativity for fifteen years. Since last year, when the meltdown began, I’ve been keynoting events worldwide, rapidly adjusting my theme to one of “how you can innovate during a recession.” I’ve had the opportunity of seeing first hand quite a few very innovative strategies from CEO’s and others in a wide variety of events, and I keep modifying my message at rapid speed to incorporate a vast variety of ideas.

So I just took a few minutes to post a comment to the Business Week site, and I’ll post my quick thoughts here too. Here’s a list of 10 off the top of my head:

1. Focus your team — relentlessly — on growth. I keynoted a global organization in Las Vegas in February. The CEO got on stage before me — and spoke about the recession for one minute. He then spent 19 minutes speaking to the growth opportunities that the organization could pursue. That’s what everyone needs to do right now. There are growth opportunities in every industry. Focus on them!

2. Respond faster. When I keynoted a food industry summit in New York, we spoke of the need to respond faster to the fact that consumer preferences were changing more rapidly than ever before. More people eating at home, sensitive to dollars, looking for food-comfort. Reformulate new brand and product options faster. Just do it. Don’t study — do.

3. Invest in the brand. Brands can become weaker in a recession, particularly as consumers scramble for value. Decide where you want to reposition your product/brand, and act fast to do it rather than studying it to death.

4. Mix it up. Don’t assume that worked before the recession will work now. Try out a lot of ideas, particularly around value. “I’m experimenting rapidly with price points and product mix.”

5. Invest in experience. Lots of your staff will be down in the dumps, and are spinning their wheels. Get a message out that NOW is the time to invest in experience. Try things out, to build up the collective experience of your team.

6. Kill off the innovation killers. Reframe your team, so that they are thinking “what a great idea,” rather than viewing with suspicion any new ideas. Remember — everyone is worried about being laid off, and paranoia sucks the life out of innovation faster than anything else.

7. Collaborate within the industry. When I keynoted the American Nursery and Landscape Association recently, I stood in awe of the blog they were running that was offering practical, on the ground, easy to implement ideas that retailers could put into their stores NOW.

8. Seek ideas. Go knowledge farming once a day, looking for ideas on customer service, operations, IT strategies, and just about anything else. There’s a flood of ideas out there — now’s a great time to chase them down and do things.

9. Partner up. Sure, resources are scarcer during a recession. That’s why you can speed up innovation with anything — from advertising, to customer service, business model implementation, IT strategy, opportunities for operational excellence or just about anything else — by seeking partners to help you out. That will help you achieve key goals faster.

10. Get over it. Lots of organizations are still stuck in the anger and denial phase of the Seven Steps of Economic Grief. Make a decision to get into the acceptance stage, and move on. This will recession will pass, just like every other one.

There are dozens more…..

I was the opening keynote speaker yesterday for Opportunities 2009, a conference in Ontario, Canada, that was focused on workplace trends to 2015.

The keynote description went like this:

What Comes Next: And What Should We Do About It?

Is there a future out there? Definitely yes, but a constant drumbeat of negative news can cause people and organizations to lose sight of what will happen with careers and jobs in the future. That’s where Jim Carroll comes in — this noted international futurist, trends & innovation expert spends his time with globally innovative leaders. He’s gained keen insight into some of the key trends which will impact industries, organizations and careers in the next few years to come, in a wide variety of industries from health care, to technology and manufacturing, to the skilled trades. Jim is a passionate believer in the reality that every career and profession is in the midst of a transition, and that additional, new careers are being born before our very eyes.

Jim Carroll will challenge you to focus on the opportunities of today and tomorrow, rather than the challenges of the past. Jim will provide an outline of how the economy will evolve from this point out — and how we should be planning and acting in order to innovate in career development ahead of fast-paced events. He’ll provide us a look at “what comes next, and what we should do about it.“

In the coming weeks and days, I’ve got a lot to blog about this keynote: I took a good hard look at emerging careers, transitioning careers, and how existing careers are changing as a result of ever-increasing velocity.

The talk was extremely well received — probably because I focused the 700+ people in the room on the opportunities of the future rather than the current economic muck of today.

What was interesting was that for the first time, one of my keynotes was tweeted from the room – you can read the thread here.

I was interviewed some time last month by FoodProcessing.com – this was related to their discovery of the keynote I did for the Readers Digest / EveryDay with Rachel Ray team food industry summit in New York last fall.

They ran a short article, “March of the New Machines: The Future of Food Processing” — and ran my comment on what I’ve seen in terms of CEO’s who have relentless focus on growth. Many of my recent keynotes — several in Las Vegas, Austin, Miami and New York — have been focused on how to maintain  growth strategies during an economic contraction.

Here’s an extract from the interview. Some good food for thought on the need to be RELENTLESS on the future and opportunities.

In a tough economy like this, it’s time to hold the line on spending and to be especially cautious of leading-edge technology. Right?

History’s full of companies that leapt ahead of competitors by increasing spending, especially on innovation, during down times. Jim Carroll, author and innovation consultant, recalled a speaking engagement in which he followed the CEO of a global restaurant chain, who spoke for a brief but powerful 20 minutes.

“For the first minute, he spoke about the global economy and the meltdown. He then spent the next 19 minutes identifying eight growth opportunities and how this organization could do great things if they relentlessly obsessed over them.

“How cool is that?” asks Carroll. “All these other companies are retrenching, pulling back, and here’s a guy who’s saying to his team, ‘Let’s focus on growth.’ ”

He says growth plans and strategic if judicious spending is mandatory for managing during a downturn. Companies that aren’t paralyzed by total spending freezes can get the jump on those competitors who are. And when the economy is back on track a year or whatever from now, Carroll says only then will we be able to point to companies and say which ones lagged and failed and which ones “took risks and did great things.“

The article at FoodProcessing.com itself takes a look at the technologies, production platforms, processes, ideas and methodologies which can provide for innovation in terms of market growth, product development, cost management and other areas. There’s no shortage of opportunity for innovation in the food and consumer product sector – or any other industry.

What is missing right now for many organizations is the COURAGE TO TAKE RISKS and INVEST!

Innovators focus on the future, they focus on growth, and they focus their team on opportunity. That’s a key message, and you’d do well to obsess over it.

Think growth!

More information:

• Read March of the New Machines: The Future of Food Processing
• Read the RDA Food & Entertainings Consumer Food Symposium summary (PDF)

The New Yorker has a great article out, “Hanging tough,” about how some companies choose to ensure that they stay innovative in recessionary times.

That’s the theme I’ve been focused on for the last 8 months on stage. Here’s a clip from a recent Las Vegas event for a global organization, addressing the theme, “Innovators get out in front of the recession”

People seem to be catching on to the idea that now is not the time to hunker down, but to push forward, innovate, change and adapt.
More information

• New Yorker article, “Hanging tough”

On stage in Las Vegas, Jim challenges his audience to think about the importance of innovating in order to stay out in front of the recession.

I had a long conversation with a Dubai-based journalist yesterday; he was seeking my insight for an upcoming article on what a nation, city or economic region should be doing to ensure that it can remain competitive in the global economy in these challenging times.

I spoke to a wide variety of issues, but one theme that I emphasized was that one of the most important things that politicians, economic development officers, community leaders, boards of trade executives and others should be thinking about right now was their “brand image.” Given the rapidity of the meltdown and changing circumstances, regions that were once seen as vibrant, progressive, growth-oriented, are suddenly finding themselves with a different “brand.”

Success in the global economy as the rebound comes about will go to those regions that can continue to draw growth industries, specialized skills, and global attention. That’s going to involve a lot of effort to freshen up a brand image that might have been hurt. Or, it will involve ongoing effort to ensure that national or regional attributes are pushed out as part of the branding process. My fear is that with the downturn, some political, civic and business leaders are losing sight of this important reality.

After the call, I dug into this theme a little bit more. Turns out that Dubai had just gone and hired itself to hire a PR firm for a ‘makeover.” He didn’t lead me in our conversation, but I guess I was hitting on a key issue!

Apr 2, 2009 – Dubai has hired London-based public relations expert Finsbury to help the emirate improve its image and offset the effects of the negative media coverage of its economic problems, the Financial Times reported.

WPP Group’s (LON:WPP) subsidiary Finsbury will be entrusted with handling the emirate’s global financial communications amid the downturn that has hit the city state.

– Dubai hires PR specialist to improve image, British Business Monitor<

Two years ago, I keynoted a global financial conference in the Cayman Islands …. and part of my theme was that one of the key battlegrounds for nations in the 21st century will be the war for talent. Those who can get appropriate momentum behind their “brand” — that are seen as progressive, fast to change, and rapidly respond to challenges — will be the ones to thrive. Now with the downturn, that type of thinking is becoming more important than ever before.

Here’s a brochure extract from another upcoming conference. The theme : “Moving Beyond the Meltdown: Focusing on Growth Through Innovation.”

It’s been a busy six months since the meltdown.

Throughout this time, I’ve been keynoting events all over North America, for organizations and events large and small, focused on the theme of innovation and working our way through challenging economic times.

What has been fascinating is that in sharing the stage with a variety of CEO’s, for both massive, global organizations and smaller associations and businesses, there are many who share a relentless focus on opportunity.

There’s no doubt that there is lot of pain and retraction and pullback out there. But my experience in the last six months indicates to me that there is an equally fast pace of innovative thinking, as to ‘what should we be doing with these new realities in which we find ourselves.’

My most favorable moment comes from one particular event: before I went on stage, the CEO of one particular global organization went on to give his “call to action” to his team.

He spoke about the challenges of the global economy for a little less than a minute — and then went on a fascinating 20 minute outline of the great things that the company could accomplish with revenue growth by focusing on 8 succinct strategies.

I now use his story (and many other similar stories) when I’m on stage, in order to get people thinking about GROWTH again.

What I’m out there talking about are the real, practical strategies that organizations are pursuing to stay focused on opportunity. There are dozens of things I’m seeing happen first hand. Some of the other strategies, off the top of my head (most of which I’ve written about in this blog):

• act faster to respond to fast changing consumer demands
• innovate locally in a global economy
• focus on customer retention as a core strategy
• go upside down – innovate with supplier partners to achieve faster product or service innovation
• enhance community knowledge – rapidly leverage best practices
• speed up efforts to collaborate internally, and reshape hierarchy to be able to respond to faster change
• innovate with skills access in order to form fast teams
• anticipate customers needs before they know they need them – stay in front of your market

The list goes on. The key thing is: when do you innovate? You do it NOW. Watch this Youtube clip.

IBM’s Cognos division has put up an interview with me on their BIRadio site, which focuses on business intelligence.

The key theme of the interview: “Author and Innovation Consultant Jim Carroll explains how to avoid “aggressive indecision” and why now is the perfect time to forge ahead with new ideas”.

Here’s an excerpt:

Kelsey Howarth: You write that the danger is an idea recession, or innovation paralysis. Do you think companies are still in that shock phase?

Jim Carroll: They’re like deer in the headlights. They’re so focused on the headlines, they’re so focused on every single twist and turn of what’s going on with the economy and if you sit back and you think about the industry you’re in, there’s probably lots of potential for growth. What we’ve got to do is we’ve got to get people beyond this paralysis and get them focused on the future again. You know, I coined the phrase a few years ago when we had the last downturn after, the dotcom collapse. I said that people were going into a state of aggressive indecision. You know, they just decided to not to make decisions about anything. You know, they just, sort of everybody went on pause and I think we have to recognize we’ve got to get beyond the pause button. We’ve got to press the play button and start doing things. We have to keep moving forward.”

More information

• Access the BI Radio show: Thriving in turbulent times

Another clip from a recent keynote in Las Vegas.

Quite a few global organizations are bringing me in these days to inspire their leadership team to stay focused on growth, opportunity, and innovation.

In this clip, I talk about these issues, and put some perspective on dealing with challenging economic times.

Cognos has run an article I’ve writen about the importance of not sliding into an “idea recession.”

Here’s an excerpt:

Given the economic challenges that swirl around us and the rapidity with which the events of the fall of 2008 unfolded, a unique and challenging mindset seemed to quickly envelope many organizations: corporate idea factories were turned off, and innovation paralysis settled in.

The result is that we’re not just in an economic recession – we’re entering another idea recession, similar to what occurred with the last downturn starting in 2001.

Yet in allowing this to happen, many organizations are missing the fact that an economic downturn provides a great opportunity for innovation. After all, companies like Burger King, Microsoft, CNN and FedEx all started up during a recession.

As events continue to unfold and cycnism settles in like a wet blanket, ask yourself this: are you going to focus on the future and opportunities for growth, or are you going to sink yourself by continuing to be immersed in the relentless negativity of current news coverage?
Here’s another key quote from the article:

The greatest mistake that any organization can make right now is to avoid action. Inertia – real or implied – establishes a culture of inaction, and that can lead organizations down another slippery slope.

Challenge yourself on that front. Think GROWTH!

More information:

• Read the article: Rethinking innovation: Is now the time to forge ahead?
• Innovation and the “Seven Stages of Economic Grief?”

I was in Louisville, Kentucky yesterday, as the closing speaker for the annual conference of the American Nursery and Landscape Association, This was a repeat booking; they had me in for a management clinic in Vail in 2006. I posted a blog entry, found below, on trends impacting commercial horticulture.

This time, I mostly focused on innovation strategies in a challenged economy. The keynote description pretty well captured the essence of my talk.

They are, in and of themselves, a very fascinating and innovative group. There is a lot of information sharing within the industry on issues of store layout and design; what works in terms of new products and lines; partnership strategies that can help improve yield within the nursery. And they’ve certainly seen a lot of the economic damage that has occurred through the last year. But overall, I found an upbeat, eager-to-keep-focused-on-the-future crowd.

And I was thrilled to have so many nice comments from people on my talk — as we all seemed to end up in the airport departing together!

Here’s the keynote description from the conference brochure:

7 Things You Need to Do Right Now to Focus on the Future!

Innovating at high velocity is vital to turning challenge into opportunity. Jim Carroll believes that organizations that focus on staying ahead of fast paced economic trends can “ride this thing out,” and can position themselves for growth. It’s a fast paced world — and that’s why leading edge organizations are focused on key leadership strategies that provide for a fast paced future.

Innovative organizations succeed by mastering the pace of the new high velocity economy. And in an era of economic challenge, they focus on discovering opportunity!

Customer retention strategies become essential, and operational and service excellence is the way to firm up revenue relationships. Watching for, and adapting to, fast-paced consumer trends is critical in order to discover fast moving retail opportunities. Aligning staff towards a common goal of collaboration and insight becomes a key method of keeping in touch with the pulse of the customer base.

In this closing keynote, noted futurist, trends & innovation expert Jim Carroll will challenge you to focus on the opportunities of today and tomorrow, rather than the challenges of the past. Jim will provide an outline of how the economy will evolve from this point out — and how we should be planning and acting in order to innovate ahead of fast-paced events. He’ll provide us a look at “what comes next, and what we should do about it.”

Jim’s client list includes the BBC, the Walt Disney Corporation, and Readers Digest Food & Entertainment group, the publisher of Everyday with Rachel Ray.

More information:

2006 posting Trends Shaping the Future of Commercial Horticulture

Read 7 Things to Do Right Now as the Upturn Begins