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Why innovation thrives in the building of sandcastles

08beach.jpgI'm off to keynote an event in Sydney, Australia; and after that, two weeks of family time in the tropics of Australia.

Years ago, inspired by similar times, I wrote about how innovation thrives in the building of sandcastles. It was a great post -- it made it into BusinessWeek. I thought it a fitting post to leave here while I'm away.

I will still be answering email and checking calls, but could just be a touch slow.

With that line of thinking,. here's my list of "10 Reasons Why Innovation Thrives in the Building of Sandcastles: and What We Can Learn From Such Creativity."

  • Hierarchy has disappeared: In most cases, there isn't a boss, a reporting structure, or anything else that can cause organizational sclerosis. People just pitch in and do what needs to be done. The lack of a hierarchy is implicit to most successful teams.
  • Creativity is implicit: Anyone can build a sandcastle. There are no rules or preconceived notions, other than some sand and water. The same thinking should drive corporate innovation efforts. Make do with what you've got and what you can find, and use creativity as your main asset.
  • If it doesn't work the first time, do it again: It's inevitable that a rogue wave will destroy your work. This only encourages you to fix the design, or rebuild it altogether. Setbacks are meaningless, and indeed, are part of the plan.
  • Experience doesn't cloud insight: Parents listen to kids, kids get bored and move on to another rampart and do something awesome. The key to sandcastle building is the combined insight of several different generations: likely one of the most important foundations for success in corporate innovation today. (See my 10 Ideas post for more on this theme.)
  • Everyone picks up on the passion: People just join in and help to build. Eventually beach-neighbors join in, and the growing castle becomes a big collaborative effort. Organizations that can build similar levels of interest in the concept of innovation don't simply succeed: they exceed!
  • Feedback is instant: You know right away how well your design works, particularly if it is at the waters edge, since everyone will make a comment on it as they walk by. That parallels' the instantaneity of today's markets: things are changing so fast, that you must have a constant ear tuned in to understand what your customers are telling you.
  • Competition is easily scoped: Need new ideas? Want to learn from the competition? Spend a few minutes walking up and down the beach and check out the other sandcastles. Study their design, their assumptions, and see how you can improve upon them. Do the same in the corporate world: develop a finely tuned radar that signals to you how and where your world is changing.
  • No idea is too dumb: There's not a lot of criticism and bias in the building of sandcastles. Any idea is welcomed. People can contribute the skills they have. Everyone is a designer, a builder and an owner. Somehow the combination just works.
  • The reward is clear: At the end of the day, a great sandcastle provides a sense of accomplishment. Photos are taken, and the team talks about the experience. That's why every innovation effort needs to be celebrated, highlighted, and championed into the corporate record.
  • It's fun: Enough said. If an organization approaches a problem the same way, innovation and creativity can thrive.
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Permanent link to this item ...posted at 4:03 PM...July 18, 2008

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Faster is the new fast -- also in auto

honda.jpgOne of the key tenets of my book, Ready, Set, Done -- How to Innovate When Faster is the New Fast,is that organizational "agility" is a fundamental cornerstone for future success.

It doesn't matter who you are or what you do -- fast defines success.

A few years ago, I spent time with management of a big car company. I don't think they got the concept.

Then there's Honda. Read this story about one of their Canadian plants -- and ponder on this sentence:

"Honda's assembly lines can switch models in as little as 10 days, spokesman Sakae Uruma said. By contrast, it could take months for most rivals to make the same change."

While certain sectors of the auto economy are in turmoil, others are in growth mode. One of the defining reasons being, they've structured themselves to act and change quickly. As big truck sales plummet, fast movers like these pick up the slack.

There's some very important food for thought here. Faster is the new fast.

More information

  • Read As others slow, Honda ramps up
  • The new face of manufacturing : agility, insight and execution...
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Permanent link to this item ...posted at 3:16 PM...July 15, 2008

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Advice for a flat world - taking your skills to a global audience

AdviceFlatWorld.jpgOne of my July columns takes a look at the idea of taking your skills to a global audience.

Years ago, I wrote about the concept of "nomadic workers," individuals who rejected the traditional concept of a job, and instead, carve out their own unique career path, mostly contingent, contract, short-term and invariably fascinating.

These are the modern day knowledge-Bedouins -- they roam the digital planet, offering their works and unique knowledge up to a global client base. I've been doing it for eighteen years.

One statistic I use in a number of keynotes observes that some 60% of engineers and architects are expected to be working on a contingent basis by 2012. That's a huge number -- and is indicative of our onward march to a massively nomadic workforce.

Read the article here

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Permanent link to this item ...posted at 9:37 AM...July 14, 2008

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Soccer moms, text messaging, and the inevitability of virtuality

Virtuality.jpgA few weeks ago, I arrived in my hotel room, and connected back to my home office via Skype. I found my sons using my Mac (long story!), and proceeded to have a one-hour video conference with them.

During this time, I ordered room service, my dinner arrived, and I ate it. All this time they played a variety of video games, worked on homework, and I unpacked my suitcase and organized my stuff.

All the while, we chatted back and forth. My youngest son made a comment at one point: "it's just like you're at home."

That's the thing about this next generation and their concept of "where is "there"." To date, few organizations have really taken to videoconferencing and other forms of virtuality ; yet as today's 15 year old enters the workforce in the next decade, that is all set to change.

One of the most significant trends I cover in my "What Comes Next" trends perspective is this one: "Resistance retires." It's worth a read -- simply put, within 10 years, much of the workforce will have grown up with technology, and the pace of how different the workplace, workforce, structure of the organization, structure of the working day, and everything else, is just going to be torn apart and rebuilt.

You can see the signs of the aging of Gen-Connect with today's new "wired soccer mom." Alabama's Times Daily just ran an article examining the phenomena, and I'm quoted liberally thorughout the article:
Jim Carroll, a futurist, trends and innovations expert, said moms between 25 and 32 grew up right along with the technology that enables them to communicate via text. Edmonton, who lives in Ford City, is 31.

"It's technology that's been around for between 10 and 12 years, so they probably started texting when they were kids in nightclubs, and now they're the parents with little ones," he said.

For those who didn't grow up with it, texting might not ever catch on, Carroll said, and e-mail will remain the way to communicate electronically.

Already, text messaging, which is known in the wireless world as SMS, or short message service, has been adapted for weather and safety alerts on college campuses in the U.S. as well as a violence prevention tool in Kenya, Africa.

So much of this, Carroll contends, is a result of people such as his 12- and 14-year-old sons growing up using the technology and finding ways to apply it in the real world.

"We're seeing this come into the work force and influence the way we think, act and communicate, and you'll see that these younger users won't think a thing about sending a text to a peer in the business community or even a young doctor preferring to send a text to a patient," he said.

The key point is, anything is on the table, and were in for massive changes in the workplace because of simple demographic change.

More information:

  • The reality of future trends: grab the What Comes Next trends overview
  • Times Daily artilce Submit it in writing: Popularity of text messaging on rise
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Permanent link to this item ...posted at 2:32 PM...July 9, 2008

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Starbuck's Icarus moment .....

schadenfreude.pngI'm quoted in a Reuters article that has run in the Washington Post, Globe and Mail, and the Sydney MX among a few, that comments on the recent woes of Starbuck's.

Titled "Not everyone's crying in their lattes for Starbucks; There's a schadenfreude among some coffee drinkers who think the java giant got too big too fast," the article looks at how some people seem to be enjoying Starbucks in its Icarus moment.

My comments?
The schadenfreude of coffee drinkers drawing satisfaction from another's misfortune is part of the popular culture that enjoys the downfall of companies or celebrities, said Jim Carroll, a Mississauga-based trends and innovation expert.

"There are a lot of people out there who take delight in seeing an icon torn down by the masses," he said.

Starbucks fell victim to a rapid change in attitude, fuelled by Internet bloggers complaining endlessly about everything from layoffs to its breakfast sandwiches, he said.

"Starbucks was a cool brand, and then all of a sudden it's not a cool brand," he said. "There's this new global consciousness that is out there that can suddenly shift."
This is exactly what I write about in my book Ready, Set, Done: How to Innovate When Faster is the New Fast. Indeed, one chapter talks about how in this era of very fast change, a brand can go from "hero to zero" in a matter of months, or even less. That's partially what we are witnessing here.

The key thing today is velocity: business is impacted by rapid consumer change, product change, business model change, cost challenges, market change. The phrase I've been using for years is "volatility is the new normal." Realize that, and build your innovation strategy around that, and you'll be set for the types of challenges that will come your way.

This is particularly true with issues of branding : brand perceptions can change very quickly today, and I don't think many organizations are prepared for that. Just look at how quickly any brand equity left attached to the US auto industry has evaporated!

More Information:

  • Buy Ready, Set, Done: How to Innovate When Faster is the New Fast
  • Blog post: Your Customers Are High Velocity: Are You?
  • Is your brand from the olden days?
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Permanent link to this item ...posted at 11:18 AM...July 7, 2008

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Get Fest-ed! Adding some life to your annual conference or event....

GetFested.jpgI've had a new article published for Association Executives for the CSAE, about how you can innovate and jazz-up your annual meeting or conference. Here's an extract:

Does your conference marketing suck? Maybe it does, and you don't know it.

People today don't want to go to an "annual conference" and attend "plenary sessions." Kids (and today's 30-40 somethings -- the demographic you increasingly want to get to attend!) go to FESTIVALS.

I think they're expecting the same brand image velocity for the conferences or events that they might attend. Would you rather go to the "121st Annual Tree Farmers Association Annual Meeting and Trade Show?"

Or would you rather go to "TreeFest 2009 - The Place Where Tree People Rock!

Me, I'm all for idea of TreeFest!
  • Read the article Get Fest-ed! adobe.gif
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Permanent link to this item ...posted at 9:09 AM...June 26, 2008

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Extreme skills: what happens when knowledge runs out?

benchstrength.jpgI'm in Vancouver, about to deliver a keynote to a global professional services firm, with the working title, "Extreme Skills Specialization: What Comes Next with Global Talent, Global Organizations?"

The working description goes like this: "The future of every career is either extremely specialized, or massively general. Most professions are fragmenting into dozens, if not hundreds or thousands of specialities. Someone needs to understand all this, and help organizations tap into narrow bands of knowledge."

This is a major trend, and perhaps one of the defining trends of the next 10 years. Here's how I'm presenting the challenges to my audience today:

  • the ability to assist your clients with high-velocity change will be a key success factor
  • because of this, the ability to find, attract utilize and retain ever more narrow niche skills will be critical, for both your clients, and yourself.
  • the ability to scale up and scale down your resource base will define your clients success, and your own.
  • our ability to access and deploy unique skills at high velocity, globally, forming project oriented teams that last but a short time, will be key.

Think about these challenges in the context of your own organization. Ask your this questions: "what's the depth of your bench strength?"

Then ask this question: "what do you need to do, from a unique structural perspective, to increase and improve your bench strength, particularly as skills become more specialized, scarce and hard to access." There's probable room for lots of innovative thinking there!

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Permanent link to this item ...posted at 3:06 PM...June 24, 2008

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Is there hope for manufacturing? You bet!

Mfg08.jpgI'm in Milwaukee today, speaking at a private group of manufacturers from across the country, who work within a particular industry.

The theme, to a broad degree, is the future of manufacturing in the US. I'm covering a huge variety of trends and issues, but two notable themes stand out:
  • manufacturing is alive and well for those who have or who are transitioning out of competing with low cost off-shore competitors. Instead, those who are focused on higher-value products that carry important and intrinsic value for the consumer are, by and large, doing ok
  • accomplishing this involves innovation: with business models, skills and capabilities of staff in the manufacturing facility, branding, marketing -- with a whole series of things.
Typical news coverage of the sector is all doom-and-gloom. That's not quite true; there's a lot of pain out there, but there are many who are undergoing a real transition. Did you know Brooks Brothers makes most of its ties in NYC? "Of course we could go to China and make a tie less expensively ....But that's missing the whole point" commented Joe Dixon, Brooks senior VP of Production, in a recent trade publication. "We do a lot on the fly, which would be hard to do offshore," states Lauren Rowen, Director of Manufacturing. They are focused on rapid style turnover, fast time to market, short logistics. You can't do that if you are tying up your inventory on a container ship somewhere.

Here's an interesting thought about Indiana -- a recent study suggested that the "top 25 manufacturing companies have consistently outperformed the DJIA"; "job losses...have largely run their course..." ; "employment will stay steady or expand slightly for next two years or beyond" ; "ranked first in investment-per-worker and private sector R&D". In other words, they're not doing too bad. A lot of companies are gone and going, but a 2nd tier has transitioned to the new manufacturing.

I think we're at a watershed point with manufacturing trends. The reality is, there is plenty of life left in the American manufacturing sector, for those who are choosing to move to what I might call Manufacturing 2.0 -- focused on agility, flexibility, fast time to market, automation, mass customization: a whole series of attitudes and capabilities.

There's a wider issue here too: we're at the point that many Asian, Chinese and Pacific region manufacturers are going to find that the price of oil, and their inability to act-fast, will be two things that will make them less competitive. They are going to have to focus on rapidity of action, and as I understand it, many of them aren't positioning with the sophisticated I/T infrastructure and deep insight that other companies in the US and Europe have put in place. So while their advantage has been low cost, they might not have the scalability, flexibility and automation that others are putting in.

To trasnsition to manufacturing 2.0, you have to make BIG BETS. Molex, an electrical manufacturer did, investing $125 million in process transformation. They state they saw a 36 million payback through year one, and expect perhaps a $100 million payback year two. Post flat strategies aren't for the feint of heart, but the payback can be real.

In other words, it might be renaissance time in manufacturing, if you do the right things, and make the big bets. Spend some time reading the manufacturing posts on this blog, and maybe you'll find some of the insight and encouragement that you need.

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Permanent link to this item ...posted at 7:43 AM...June 20, 2008

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Computational analytics is another new plastic!

At my keynote to the US Association of Actuaries this week, and for a keynote to LOMA last week (an insurance association conference), I played a series of maps that showed the rapid emergence of obesity in the US population from 1995 to the present day, The maps were provided by the Insurance Information Institute.

I challenged the audience to think about what will happen through the next five years: we will see the emergence of "location intelligence dashboards" that will allow such professionals, to examine in real time, the emergence of new risk factors in their industry.

Location intelligence is coming about as organizations learn to link massive stores of information and research to spatial -- or map oriented (i.e. Google Maps) information. An entire new profession is emerging at the same time -- location intelligence professionals.

This is part of an overall sweeping trend, in which computational analytics play a massive role in the emergence of new careers, businesses and industries. We are entering a time that involves the rapid processing of massive stores of information and unique new ways of analyzing information.I talk about this extensively in my future oriented keynotes and is a topic that is covered in several trends documents on my site.

More information

  • Read about "location intelligence" in Five More Trends To Define Your Future adobe.gif
  • Analytics is hot : "What comes next?" adobe.gif
  • Insurance Information Institute report 0- Obesity, Liability, and Insurance
  • Directions Magazine - The Worldwide Source for Geospatial Technology
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Permanent link to this item ...posted at 9:47 AM...June 19, 2008

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Transitioning the global economy

afterflat-2.jpgThere are a zillion fast, zippy cool trends out there. And then, there are the big, sweeping, massive transformative trends that change entire economies.

I just finished writing an article for an executive publcation. Here's one reality I pointed out: at a fundamental level, we are witnessing a massive global leveling of wealth throughout the world. Within the decade, the MidEast, Asia, India and China will have had billions of people move into the middle class; North America's will have witnessed a global equalization in the concept of consumption and standard of living.

The scope of the movement of global wealth is staggering. The OECD estimates that global sovereign wealth funds (Dubai, Singapore, China, etc) are currently worth some $3 trillion; within 5 years, they will triple growth to $10 trillion. If oil stays higher than $70, they will be worth some $15 trillion by 2018.

Let's put that in perspective. Some of these SWF's participated in the recent bail out of several Wall Street financial powerhouses, including liquidity investments in CitiBank, Merrill Lynch, Barclays, Bear Stearns (deceased), UBS, Credit Suisse, and the CIBC.

Their total investment? $100 billion. Pocket change.

In other words, North America is becoming but a pipsqueak player in the global economy. That's why faster is the new fast; organizations that learn to think and DO differently, and who can discover the opportunity unfolding around them in a massive global economy, will be those to thrive in the decade to come. It's a huge trend, and it's one that has massive implications.

It's about strategy-post-flat.

More information

  • Global Economic Trends: An Interview with Jim Carroll adobe.gif
  • "Where's the growth: Global innovation strategies for the long term" adobe.gif
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Permanent link to this item ...posted at 10:04 AM...June 18, 2008

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Who's hot? Actuaries are hot!

iStock_000004927019XSmall.jpgI just came back from delivering the opening keynote for the annual meeting of the US Association of Actuaries. This crowd is the risk assessment side of the US life insurance industry, and given the rapid pace of change, their job has become much more difficult through the last several years.

They know that. They also know that there are many who don't understand the critical role that they play, and so they set out to change that last year, by refocusing on a re-branding of the profession.

It turns out that they did a great job, having just picked up the Corporate Branding Campaign of the Year 2008 from PR Week magazine, even beating out "uber-cool" Tesla Motors.

The re-branding campaign fits with the challenges they are faced with : as the economy speeds up, they have to continually migrate their skills, capabilities and knowledge in order to continually assess new and more challenging forms of risk. One of those new skills might involve their transitioning to the role of "location intelligence professionals," a trend I've written about here. This would involve learning how to marry the vast stores of information on current policy holders to the vast sources of "spatial" (think Google Maps) information emerging online, to come up new forms of assessing insurance risk.

For example, during my keynote, I played a one minute movie of a US map that featured the emergency of obesity in the US population over a 25 year period beginning in 1993. I suggested they might view this, and think about what they could do if they had this type of insight as a "location intelligence capability" on their desktop.

They're a hot profession, because analytics is hot, mathematics is the new plastic, and they're in the midst of it. It should be a fun ride for them!

More information

  • Read about "location intelligence" in Five More Trends To Define Your Future adobe.gif
  • Analytics is hot : "What comes next?" adobe.gif
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Permanent link to this item ...posted at 2:15 PM...June 16, 2008

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Text message polling - on stage with instant interactivity and feedback

QuickPoll.jpgOver the last several months, I've been incorporating some live text message polling into my onstage presentations.

Yesterday, at an insurance industry conference, I put up a quick poll, and gave the audience three minutes to text message their answers in. It's quite a bit of fun, because the results begin to appear automatically on screen -- and are constantly, dynamically updated.

Here's what's fascinating : out of a crowd of about 300 people, only about 25 managed to get an answer in! There were a few reasons for this; first, since the A/V screen wasn't great, it was hard to see the text message number, and I actually called out the wrong number for the first minute and a half - until someone pointed out my mistake! But at the same time, it was obvious that a good chunk of the crowd -- baby boomers and up -- had no clue how to send a text message.

I used that observation to point out to the crowd that they're in a pretty dangerous spot if they don't understand some of the tools that are fundamental to the life of their Gen-Y and Gen- Connect customers. Key message: if you are going to innovate, you better make sure you understand your customers. The next generation is going to demand a completely different, highly interactive "insurance experience," and text messaging, Web 2.0 and other tools are going to be a part of that mix.

To do these online polls, I'm using the QuickPoll service from Quickmobile, which offers a number of innovative mobile solutions, including a "text from your Web site" capability. Services like this are at the leading edge of innovation when it comes to linking the Web together with the vast world of text messaging. Recent estimates suggest that every day, there are more text messages sent than their are people on the planet.

The quick polls, incorporated into a keynote on stage, whether with a group of 300 or 3,000 people, provide for a huge degree of interactivity with the audience, and provide for some really exciting dynamics on stage.

More information

  • Quickmobile Web site
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Permanent link to this item ...posted at 10:47 AM...June 13, 2008

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After flat? Rethink strategies and go post-flat!

As some economies continue to experience rounds of volatility, there are still plenty trying to figure out what to do next. And there are a many who are focused on the theme of "what do we do after the world has gone flat?"

In the "post-flat" world, you need to change your focus. In an upcoming keynote, I'll be concentrating on several core themes:

  • focus on growth - shift your focus to opportunity rather than cost based competition
  • think "market transformation" - don't tinker with strategy; you've got to be willing to shift assumptions, habits, routine
  • refuse to compete on price - change the rules by recreating value in your product or service
  • make big bets - whether its' infrastructure, sales force, distribution network: you've got to be willing to spend to transition
  • think international - local markets are small markets; the global economy is well within reach for any organization today.
  • think velocityOne of my most often used quotes when on stage comes from Rupert Murdoch: ""The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.""
There are three good blog posts in which I looked at this topic; an increasing number of keynote and workshop inquiries are coming from executives who want to help their organizations go "post-flat."

More information:

  • What do you do after the world gets flat? Put a ripple in it!
  • Innovating in a flat world
  • The new face of manufacturing : agility, insight and execution......
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Permanent link to this item ...posted at 3:22 PM...June 12, 2008

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Financial industry innovation - change the game!

Here's something to think about: we are going to see $12 to $18 trillion in intergenerational wealth transfer in the next 12 years in North America. (US GDP is $12 trillion). By 2053, $130 trillion will have moved from one generation to the next, in rolling waves of wealth transfer. All this will involve monies moving to new customers who are far more independent, financially savvy, and technically sophisticated.

In other words, tomorrow's customer is going to be completely unlike the customer of today. That's why innovating -- keeping up with the future - is critical!

Tomorrow I keynote a group of professionals in the life insurance industry. Next Monday, I keynote a national Association of Actuaries; the following week, an international accounting and professional services powerhouse. Last week, a major bank and a number of wealth management firms. The heavy duty theme this month is the world of finance!

Here's the thing about anyone doing business in financial services: you can drown in all the noise and short term hype and hysteria that involve markets and economies in rapid change.

Or, on the other hand, you can manage through that, and think about the innovations that are set to occur through the next five years. Focus on those, and there's your future strategy.

Here's what's certain in the insurance industry: someone will do one or more of these things, in a big way, that will cause significant and long lasting market disruption and transformation.

  • they will redefine the business model (particularly in insurance): for example, health care costs worldwide are set to explode, and the system will implode. Someone will ride this obvious trend and do something transformative that forever changes the industry. It's not about managing health costs; it's about redefining the concept of health care. Think bio-connectivity, and health care rearchitecture.
  • they will transform how business is done in the industry.Today, it's still an industry that is still about brokers and distribution. Insurance is sold, not bought, based on fear of the future. That's set to change. Tomorrow, smart widgets on top of a legacy insurance platform? The concept of "disintermediation" has been around for a long time, but here's a certainty: tomorrow's 50 year old is a very different animal from today's 50 year old! Gen-Connect expects much more!
  • they will redefine the product. Today, we buy life insurance and health care insurance and other "products." Someone will figure out that people don't want products: they want their own unique, self-defined, self-managed solutions, that likely include multiple solutions from multiple sources. Think "iPhone meets the life policy!"
  • they'll change the brand perception: fast movers will transform the product and services that are offered, by offering faster-paced, more relevant brands to consumers who aggressively self-manage every aspect of their daily life. Think Geico.
  • they'll constantly change the target customer. Today, insurance is sold to groups of employees, directly to individuals, and to affinity groups. Tomorrow, it will be sold to rapidly evolving, temporary fast-moving customer targets. Think portability: if the typical person will have 30 different careers and 50 different jobs in their lifetime, they're no longer a captive customer!

Is that a bunch of babble? Not really. Five, ten, twenty years out, the insurance industry will look unlike anything that we know if it today. Market transformation is everywhere, and its' going to sweep this industry faster than fast.


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Permanent link to this item ...posted at 10:55 AM...June 11, 2008

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Branding, marketing, and manufacturing 2.0

From a variety of keynotes through the last few weeks, here's what we've got to deal with.

The consumer of today is:

  • time challenged
  • attention starved
  • jumpy & fast with product perceptions
  • edgy and vocal when operational excellence is not provided or perceived
  • influenced differently in terms of brand / product / service choice
  • more vocal when they've been "wronged"
  • faster in adopting new trends and ideas
As a result of this, today's new product is:
  • faster to market
  • more collaborative in design
  • solutions oriented, responding to the fast consumer
  • rapidly redefined by the customer
  • having to maintain a brand image that is energized and up-to-date
Combine these two trends, and it means that todays' new branding and advertising must be:
  • more transformational
  • revived and rejuvenated on a more regular basis
  • lifestyle oriented
  • experimental
  • shifting it's focus online
  • changing faster in terms of message
  • going premium and upscale, to avoid commoditization
The key things to think about when dealing with these new realities is:
  • focus on the opportunity that comes from such rapid change, not the threat
  • don't panic at the pace
  • focus on the value of your product or service
  • collaborate with your partners (i.e. packaging companies, retailers, consumer goods companies)
  • invest in experiential capital by trying out lots of new ideas
  • understand that the pace of change is only going to increase
  • transition your team to think differently -- innovate!


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Permanent link to this item ...posted at 10:01 AM...June 10, 2008

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Seven Things I'd Do Right now

There were two pretty heavy-duty keynotes I did for companies in the financial sector last week. The second one involved a group of several hundred executives responsible for managing and overseeing the strategic infrastructure within their wealth management organizations.

I presented an overview of the trends occuring in the financial sector -- see the post immediately before this one which takes a look at the growth of sovereign wealth funds. I also outlined what I think were the key strategic concepts they should be relentlessly focused upon to ensure that they remain competitive in a very fast paced industry. These 7 points were:

  • respect the competition
  • prepare for the new analytics
  • move faster
  • stay ahead
  • maintain brand relevance
  • structure for skill set challenges
  • think transformation, not just innovation

These are all themes that I've written on throughout this blog and in my book Ready, Set, Done, How to Innovate When Faster is the New Fast.

The key issue is that as business rapidity continues to pick up, organizations need to stay relentlessly focused on trying to stay one step ahead of the fast trends which will impact them.

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Permanent link to this item ...posted at 9:36 AM...June 9, 2008

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A new era of "social wealth management?" Innovating banking at high speed!

I'm about to head out the door to keynote a leadership team, business analysts and IT staff for a leading multinational bank. The theme of my luncheon talk is, of course, innovation in the high velocity financial sector.
There's been a tremendous amount of new research undertaken in the last day, so that I can add to the insight that I've already accumulated through the years as to the innovations occuring in this sector.

There are a couple of key observations that I'll share with the crowd. I start out with a list of pretty scary headlines. American banks face financial meltdown if their reforms fail. Mortage Meltdown! Bloody and Bowed --- Money Managers Remain Badly Shaken by the Meltdown. Market Cap Meltdown --- Billions in Blue Chip Stock Values Have Been Blown Away.Congress caught in a bind over bank crisis. Crisis Looming As Realty Slump Becomes Global

Most of these headlines are from 1989-1990.

Key point being, we've been here before. Whenever there is market turmoil, there is also opportunity for growth through innovation.

And that's what I'll concentrate on the talk. How banks are transitioning staff from tactical to strategic roles so that they can provide the consultative services customers are demanding. How bank branches are becoming the "new Internet" as financial institutions rediscover the power of rejuvenated bricks-and-mortar networks. How the new era of Web 2.0 is going to have to drive a new form of "social wealth management," particularly as we witness a massive intergenerational transfer of wealth from baby-boomers to the Twitter generation. And how maintaining brand relevance is critical when products and customer service expectations continue to increase at a furious pace.

Several months ago, I wrote a Memo to the CEO of banks worldwide, imploring that they don't kill innovation it's tracks as they scramble to deal with the subprime mess. It drew quite a bit of attention: and the comments and sentiment are still critical today. It's worth a read.


More information
  • Read the Memo to the CEO
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Permanent link to this item ...posted at 9:56 AM...June 4, 2008

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Innovating in the era of the celebrity baby blog!

I just returned from a keynote for the Direct Seller Association; the industry dedicated to selling products to individuals in their homes. One might think in the Internet era that such an industry is on the skids; yet organizations like Avon, Mary Kay, and new direct selling companies continue on a growth trajectory; through innovation in traditional markets, and through fascinating growth in the Asia Pacific region.

My keynote focused on two primary trends: how the customer of today is changing; and how marketing and advertising are changing. I then spoke about how these organizations need to continue to keep up with the rate of change that is occurring around them.

So what's with the picture? One of trends I covered was that today's consumer is influenced differently when it comes to their purchasing activities. It used to be all word of mouth; it still is, but WOM has changed to a significant degree: it's widened to include the world of social networking.

For example, a recent New York Times article commented on the role of Celebrity Baby Blog when it comes to the clothes that parents are choosing for their children. US Weekly also comented on this trend, noting that when it comes to selling, "In the 1990s, everyone wanted to know about handbags.....now it's all about, 'What stroller is Naomi Watts's child in?'" (Apparently it's a Strider 3 Steelcraft in slate at $449US).

That's but one trend of about 20 key consumer, advertising and marketing trends I took a look at. House parties have been social-networked too, through Houseparty.com! As noted in the Times, "Jarden Consumer Solutions, which sells appliances under names like Mr. Coffee and Sunbeam, hired House Party to put on 1,000 parties over the Memorial Day weekend to promote the Margaritaville Frozen Concoction line of drink-making machines, which cost $199 to $379." To a degree, the more things change, the more things stay the same. Direct selling still happens; the mechanism and methodology is changing furiously.

The key issue is this: no matter who you are, what you sell, and who you sell to, your markets, products, customers, touch points and brand issues are changing at a furious pace, and you need to as well. That's why innovation in the consumer goods sector is critical.

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Permanent link to this item ...posted at 7:57 AM...June 3, 2008

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Recent keynote titles

Jim has been on stage for 15 years, and has spoken to hundreds of thousands of people. There's a certain degree of insight that comes from such experience. It's not just the deep industry insight that Jim has into countless industries -- it's the way he manages to get across the message. These are a few of the recent and upcoming keynote titles used by various clients:
  • 7 Things You Should Do Right Now If Your Strategy for Tomorrow is Already Today's Yesterday
  • Where's the Growth? What's Hot and Not When Volatility Rocks!
  • 7 Things You Need to Do Right Now: Aligning The Fast Future to Your Current Strategy
  • Game Changers: The 8 Big Trends That Will Rock Your World
  • What Do Innovative Companies Do? How to Unlock Your Potential in the High Velocity Economy
  • OMG! What to Do If Your Strategy for Tomorrow is So Yesterday
  • Where's the Growth? What's Hot When Volatility Rocks!
  • What's Happening with Your Workforce: Making Generations Work!
  • What Comes Next? Leadership Insight for the High-Velocity Economy
  • Agility, Insight & Execution: Establishing High Performance Teams in the Multi-Second Economy
  • Leading the Future: Leadership in an Era of Innovation and Change
  • The New 2.0: Staying Ahead When Everything Today is Already So "Yesterday!"
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Permanent link to this item ...posted at 1:53 PM...June 1, 2008

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Can we talk -- upside down innovation?

The media is all abuzz with the concept of "user oriented innovation," and that is certainly an important innovation trend. But it's not the only trend. Innovators would do well to recognize that there are many, many other concepts that can help to focus and refocus their innovation efforts.

While everyone focuses on having "customers" modify and design their next product, there is an even more powerful and important trend underway. I call it "upside down innovation," and it involves new levels of innovation partnership between organizations.

It's when packaging companies, retailers, and food producers get together to examine new markets and branding opportunities through powerful new ideas. Or when a retailer works with its suppliers to come up with "pre-packaged lifestyle solutions" that offer time starved consumers a neat-solution or new idea. It's when organizations in a supply chain or industry learn to innovate together -- and that can be more powerful than when customers innovate.

I keynoted the American Nursery and Landscape Association in Vail, Colorado, and offered up this example: traditionally, your local garden store features the same, endless rows of plants, in the same old order, often according to their Latin names. There's no inspiration; there's no excitement; there's no solution to the fact that you are a busy consumer and just want to "buy a backyard."

"Upside-down innovators" take it one step further; they offer a retail environment that provides you with outdoor living solutions. They've combined the insight of leading edge retail ideas, with innovative, packaged solutions, and with unique products that "fit" together.

Today, you want to look at a complete "outdoor living room solution," that happens to include all the elements you need: plants, patio furniture, outdoor entertainment solutions, decor, candles, some wine glasses -- and everything else. And that solution has been put together by the retailer with the assistance of their suppliers and packaging companies,

into one unique, outdoor lifestyle vignette.
Here's what upside-down innovators do:

  • partnership is a key focus: they recognize that great ideas might come from others in their supply/production chain
  • collaboration is critical: they know they have challenges in keeping up with all innovation opportunities in this hyper-economy, and are eager to learn how others can help them
  • they focus on providing solutions: innovative companies no longer sell products: they sell entire solutions to customers
  • they refuse to "lay flat" : it might be a flat world, but upside down innovators go to the next step by putting a ripple into the flatness, by approaching innovation in a new way
Upside-down innovation is a critical trend, and one that should be watched carefully, particularly with all the hysteria about user-oriented innovation. After all, customers often don't know what they need -- they didn't know they wanted an iPod, until they saw one.


More information
  • Creativity, trends and innovation in retail, packaging and consumer goods
  • Read What do you do after the world gets flat? Put a ripple in it!
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Permanent link to this item ...posted at 7:29 PM...May 28, 2008

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Zorbing -- and why it's in to be out!

zorbing.jpgSeems USA Today ran an article about zorbing, and my web site is being flooded with traffic because it features a picture of zorbing in action.

Here's the thing: Zorbing is part of a trend that I frequently speak about at conferences -- the rapid emergence of new sports, which is part of the overall trend of the more rapid emergence of new trends!

My coverage of Zorbing goes back to 2004, when I keynoted a New York City publicity event, where, I met with the editors of O (Oprah Magazine), Elle, Family Circle, Parenting, InStyle, Cosmopolitan, Working Mother, American Baby, Soap Opera Weekly, Woman's Day, Glamor, Teen Vogue, Seventeen, Good Housekeeing, Family Circle and about 40 other national trade magazines.

My focus, on behalf of a consumer products company, was the presentation of my "10 Trends that Will Rock the Outdoor World." In preparing, I undertook detailed research and analysis of leading lifestyle, demographic, social and cultural trends, to put into perspective what we can expect in terms of active, outdoor living in the future.

And one of the trends I talked about? The rapid emergence of new sports -- such as zorbing!

Read 10 Trends that Will Rock the Outdoor World.adobe.gif .

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Permanent link to this item ...posted at 4:08 PM...May 27, 2008

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The Secret for Association Executive Success: Study Air Guitar!

My blog post of a few weeks ago caught the attention of the folks at the Canadian Society of Association Executives -- and so I quickly rewrote it to challenge their members to think about the role of "associations in the future."air-guitar.jpg

Here's how I open the article: "