“Organizations are faced with significant challenges, particularly with the continued impact of globalization, heightened market competition, rapid business model change and the impact of new technologies. They must continually challenge themselves to keep up with rapid change in the business environment in which they operate -- Jim Carroll
Of course everyone does, particularly young kids. And as you age, you still marvel at these roaring machines and the brave firefighters who command them.
A few weeks ago, I was thrilled to be the opening keynote speaker for the Fire Apparatus Manufacturers’ Association annual conference in St. Augustine, Florida. In the room were key executives from a broad cross of section of the industry.
As with all my talks, I did a tremendous amount of research — its fascinating what you can find with some very targeted searching and analysis. That’s why I’m known for the customized insight I provide in my talks.
What I learned from this industry is the perfect allegory for what is now happening in most major industries — the acceleration of what is known as customer-focused, or better yet, customer-initiated innovation.
For as long as there have been firetrucks, the industry has operated pretty well much the same. The companies that manage these complex vehicles determine what it is they plan to build, present it to the customer (cities, towns, airports ….), who might choose to buy it, or not. Of course, through this time, there has been tremendous change to the sophistication of the offerings and the complex of the machine and support systems.
But what is also apparent is that the entire fire and safety industry is grappling with faster change, such as:
the rapid emergence of new hazards and risk (roof photovoltaics & solar present complex new challenges for large industrial or residential fires; there have been several cases of a fire chief pulling back his team due to uncertainty in terms of assessing risk)
faster, more complex challenges (new chemicals, nano materials, more pipeline risk with the rapid growth of shale oil, as well as increased rail transport risk)
the rapid advancement of science (arson / forensic skills and knowledge requirements are accelerating at a furious pace
even such things as rapidly fluctuating community size (100,000 people for tailgate parties) leads to the new emergence of new risk that must be properly managed from a safety perspective.
and lots more!
What’s the impact of all this change? I quickly started to discover a lot more folks in the industry talking about ‘Apparatus Architects‘ – fire professionals who work for cities or towns or airports or others, who now specify what they need, given the unique risk within their community. They’ll then, to make it very simple, ask the apparatus manufacturers to build them according to spec.
In other words, the innovation pipeline has gone ‘upside down.’ The customers are driving the innovation that they need; successful apparatus manufactuers will adapt to this change, or find themselves falling behind.
I’ve been writing about this trend for well over ten years. And it’s happening in more and more industries, and the pace at which it is driving industries is speeding up. Customer-oriented or customer-initiated innovation is one of the most powerful, transformative issues in every industry today. What’s happening with firetrucks provides a good overview of just what is at stake.
Of course, that’s not just all — there’s more to come. I threw in a good sampling of future trends that will provide more change, including:
aerial drones linked to in-truck multi-screen video system
robotic building explorers linked to real-time, 3D location databases
instant spectrometry air-sampling analyzers with intelligent fire suppression technology suggestions
Customer-oriented innovation and rapid technological change define the future of most industries today. Pay attention to it, and think about firetrucks!
I’m thrilled that I’ve again been cover in CG&T Magazine’s annual outlook. This marks 4 years in a row!
This year my comments are short and sweet – I continue to believe that accelerating change with retail models, products, technology, mobile and just about everything else makes it difficult for organizations to ensure that their capabilities are aligned to their strategies.
Here’s what I wroe for this years piece:
Going into 2015 and beyond, the biggest issue for CG executives will be to think about how they have big holes that they need to fix — and fast.
The challenge is that with this tsunami of change, many companies still aren’t capable of coping, and so many mismatches become painfully clear:
Strategy mismatch: Are you still trying to solve the social media challenges from 2013, while in 2015 it has shifted mobile?
Skills mismatch: What’s your bench strength with all the new technologies flooding the space?
Cultural mismatch: Are you equipped for speed? Everyone is talking about being agile and lean — but do you find that even with those strategies you are still falling behind?
Worse yet, your technology mismatch is probably becoming bigger than ever. How are you going to fix these holes?
Here are some key secrets of success in an era of high-velocity change: an accelerated innovation cycle, fuelled by the rapid ingestion of new technologies/methodologies. Work on your internal pipelines to gain a faster time to market, and know how to rapidly re-focus resources for opportunity or threat. All that needs to be done in a time in which volatility is the new normal. A pretty tall order, but it will help you close the mismatches that likely exist.
“Innovation is about much more than just new products. What is innovation? It is running your business better, growing your business and transforming your business.”
I just found this article, which ran on the ERA blog after my keynote on the future of real estate, for their 2013 conference. It’s a good read!
5 Things World Class Innovators Do that Others Do Not, by Tara Reid, from Owning the Fence, ERA Real Estate Blog
Consider this: 65 percent of current preschoolers, kindergartners and first graders will work in a career that does not yet exist. And, if you are working on a degree based on science right now, it is estimated that half of what you learn in your first year will be obsolete by the time you graduate.
That is how fast things are changing in this world and according to Innovation and Trends Expert Jim Carroll; the future belongs to those who are fast. In fact perhaps media mogul Rupert Murdoch puts it best: “The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”
During the ERA 2013 International Business Conference Think Tank, Carroll explained that to keep up, you have to get ahead the way that today’s best thinkers and changers do. Here are 5 things world class innovators do that set them apart from the rest.
Think big and bold. You can view a future trend as a threat or an opportunity. Take it as an opportunity, embrace it as change for the better and prepare to make the trend work for you by thinking beyond the now. How can you make the trend bigger and better? And, how can you help others navigate change? For example, in real estate, keep in mind, according to Carroll, people want a qualified advisor to help them get through the biggest investment of their lifetime. Figure out how to exceed their expectations and you have carved out your niche.
Check your speed. You have to move quickly to stay in the game. World class innovators constantly up their speed while checking their quality. For example, it took Appletwo years to sell two million iPhones; it took them two months to sell two million iPads. It then took them one month to sell one million iPhone 4’s but only one day to sell one million of the upgraded iPhone 4S model. They get faster while they get better.
Reframe the concept of change. Innovation is about much more than just new products. What is innovation? It is running your business better, growing your business and transforming your business. If you want to be innovative think about how you can use technology to address those three actions.
Ride generational acceleration. According to Carroll, the next generation thrives on moving things forward. Follow their lead and adapt to new ways of thinking and acting. Half of today’s global population is under the age of 25. Your role is to understand their ideas so that you can manage their capabilities.
Challenge organizational sclerosis. Ever hear or say the words, “It won’t work,” or “I don’t think I can,” or “It’s too risky?” Such phrases are symptoms of organizational sclerosis, the fear of change. It is important to think big, be fast and transform how you do business so that you do not end up in an innovation rut. When change gets scary, keep this in mind: “Some people see a trend and see a threat. Innovators see the same trend, and see an opportunity.”
With these five actions in mind, turn your next “oh no!” moment into an “a ha!” moment. Take that threat and turn it into an opportunity to grow. The world is not going to stop changing and trends will pop up even more quickly so grab on, hold on tight, and go for it!
Back at the end of March, I worked on a custom video project with the Wall Street Journal Custom Digital Studios Team on behalf of CapitolOne; it involved a small, invitation only panel discussion with a follow up custom video production. The latter is now running through out the WSJ.Com digital network.
It took place at the Modern, the restaurant area of the Museum of Modern Art in Manhattan. Sharing duties on stage with me was Soraya Darabi, a digital strategist and social media entrepreneur, Charles Devaney, senior director of investments, Capital One Commercial Bank, and David Brinker, Senior Vice President of Operations and business development and Operations at The Daily. Our general discussion was around the opportunity for organizations to make bold, innovation moves through the leveraging of technology. Click the PDF to read the entire “Special Advertising Feature.”
Click the image to read the PDF. “Of the companies in existence during the economic recessions of the 70s, 80s, 90s and the recent “Great Recession” of 2007-2009, on average, 60 percent survived, 30 percent died and 10 percent became breakthrough performers. How did the top 10 percent do it? They specifically decided to make bold moves, to invest in world-class innovation, despite economic uncertainty.” – Jim Carroll, Futurist, Trends & Innovation Expert
It was a fun event to participate in, with a very lively discussion around the theme. I certainly emphasized that technology will continue to drive rapid business model, competitive and structural industry change:
Rapid changes in technology and an ever—shifing media stage have leveled the playing field such that big truly doesn’t beat small anymore — an exciting and intimidating space for any organization. ‘‘If you think your industry is going to look anything like it does now in 10 years, you’re wrong,” he said. “You’ve got to keep up with the change that’s occurring because today’s 20—year—olds are going to be your customers and your employees.”
Here are two teaser clips from the production, 15 seconds in length:
The custom production is now running throughout the entire WSJ network, including Barron’s and other properties. I caught the thumbnail yesterday in a news story. From there, you can hit the video clips from the panel. (Note: It’s a targeted campaign, so it’s only hitting the US market.)
All in all, a great project, and an opportunity to make some key points about innovation!
I’m covered in the January / February issue of an Australian publication, Think and Grow Rich. It’s oriented toward franchise operations. Enjoy!
The Power of One from Think and Growth Rich January/February 2014
Notes Jim Carroll: ” look around and I just see a countless number of methods by which a franchisee can run the business better, grow and transform their business. And that’s what innovation is all about!”
Despite a small slump in figures during the Global Financial Crisis, franchising has come out of the mire relatively unscathed and in fact the numbers for franchisors and their franchisees are looking very healthy. TGR looks at what the franchise sector can expect as we embed ourselves in the 21st century.
Many top companies, from Disney to Visa, have hired futurist Jim Carroll to speak about his views on the future. So it is interesting to hear his views about franchising. He told Multi-unit Franchisee, “There’s nothing to fear really, if you view future trends as being full of opportunities rather than as a threat. I find that many of my clients think about future trends and think, ‘Oh, this can’t be good, it’s going to be pretty difficult to deal with.’ The first step with getting into an innovative frame of mind is to think of every trend as an opportunity, not a threat.
“So let’s think about a few of them. Consider social networks; there are huge impacts on how consumers perceive, interact and provide feedback on brands. Obviously, if you don’t pay attention to the trend, it can turn into a big negative for you. But if you get involved, engage the new consumer, and continually experiment with new ways of taking advantage of this new form of interaction, then you are doing the right thing.”
Carroll went on to say that to be successful you must keep up-to-date with current trends.
“There are just so many opportunities to grow the business. We’ve got all kinds of new location-intelligence oriented opportunities – people walking around with mobile devices that have GPS capabilities built in. Think about instant couponing apps that might encourage customers to drop in and purchase something. There are new methods of getting the brand image out there; we’ve seen so many franchise groups with successful viral videos. For restaurant franchisees, there’s the rapid emergence of the new health-conscious consumer and opportunities to reshape the menu to take advantage of that. I look around and I just see a countless number of methods by which a franchisee can run the business better, grow and transform their business. And that’s what innovation is all about!”
In Australia, the outlook is just as optimistic and there are many entrepreneurial franchisors taking this kind of innovative approach that would make Carroll proud. For instance, the Franchise Food Company led by Stan Gordon launched its Gives Back campaign in August 2013. The initiative hopes to help a number of local community groups and initiatives by donating a total of $10,000 to a variety of causes over the next 12 months.
Gordon says the program will provide much-needed support to charities and community initiatives, to help many Australians who have been met with adverse circumstances or might be doing it tough.
“Cold Rock is all about giving people a reason to smile. The campaign is for anyone and everyone who’s working hard to make a difference in their community; whether you’re supporting a local sporting team, raising money for serious illnesses or fighting to save a historic landmark, we want to hear from you so we can help you along the way.”
The unique and inclusive initiative, housed on the Official Cold Rock Ice Creamery Facebook page, offers charities and community groups four opportunities to receive a one-off donation of up to $2,500.
Community groups and individuals are asked to submit an application detailing why they need a helping hand via the Gives Back Facebook Application.
Running over the coming 12 months, Cold Rock hopes to assist a variety of organisations with meaningful donations and build on the strong history of giving that Stan Gordon and Cold Rock has developed through years of community involvement.
It’s a unique use of social media and a great marketing tool, as well as a community initiative.
Meanwhile, the FFC continues to acquire strong franchise brands. The company’s latest acquisition is the iconic Trampoline brand, which fits nicely into the treats niche along with Mr Whippy, Cold Rock, Nut Shack and Pretzel World. FFC is unique, but like any franchise business, systems are crucial and will remain so, no matter how many years we move forward.
Pacific Retail Management is one of the largest franchise companies in Australia, with ownership of Go Sushi, Wasabi Warriors and Kick Juice Bars.
Part of its success is its systems management. Julia Boyd is the project and marketing coordinator. She says, “Pacific Retail has implemented strong operational systems to assist their franchise partners at every stage of training. Travelling operational team members continue to visit all national stores throughout the year and stay for up to a week or more to assist the business. They help to improve sales and are heavily involved with the franchise partners and any issues they may have.
“Support can also come from fellow franchisees in the group who are experiencing the same things and working towards the same goals. When franchisees work together towards a common goal, you can achieve great success and a cohesive team.
“Being part of a franchise network also means assistance and guidance from industry experts with the set-up of the business. This can include help with site selection and brokering of the lease with the landlord; financing through franchisors relationship with lenders and major banks; expedited process from initiation of agreement to store opening; and ultimately the sale of the store including finding a buyer.”
Of course franchising won’t be for everyone. With the advent of social media and vast new ways to reach clientele, the model will become easier to manage and far more sustainable. However there remains a lack of independence.
“Some prospective business owners are put off franchise networks and prefer to remain independent to avoid such established systems with little room for individual creativity, having to adhere to the operating systems in place and the initial payouts including franchise fees and training and marketing launch costs,” Boyd says…
Excerpted from an article originally published in the February/March 2014 issue of Think & Grow Rich Inc. magazine. You can access the Web
“I’m now building polls, live, in real time, while on stage in front of several hundred people. Talk about a deeply powerful method of providing for audience interaction.”
As my audiences become ever more engaged with their mobile devices, I’ve learned that I must continually step up my game and ensure that they remain engaged with me!
Attention spans in society are collapsing, and we who own and do our job on stage must ensure that we keep those attention spans on the message…. whether I’m in front of scientists, leadership and researchers at NASA’s Goddard Space Center or 2,000 ERA real estate professionals in Austin, Texas.
And so my most potent powerful weapon in that regard is my use of PollEverywhere on stage.
Yesterday during a keynote in Chicago, in a pattern that I’ve been using for about a year, I took things a step further than simply using several multiple choice text message based questions from the stage.
I worked interactively with the audiences to build a list of the most difficult challenges that they may face — and another list of the responses they think might help them deal with those challenges. After coming up with each list, everyone in the room got a chance to vote on the responses!
Live, in real time, in front of hundreds of people. This is fun stuff! Think about it — working with the audience, I’m now building part of my keynote on the fly to delve deeply into the real issues and opportunities my audience is thinking about.
I’m doing this more often as of late : here’s a post I did about one recent talk, “Highly interactive, highly insightful – a private strategy meeting for 50!”.
Here is what the room came up with yesterday in Chicago, n terms of their most significant challenges — and after I built the list in my Web browser, how they voted on the list. (Click on either image below for a larger image)
I then worked the room again, seeking answers on how they might respond to the challenge. Once again, I built poll in real time, and had the room vote on the results.
This is POWERFUL stuff for a keynote presentation.
If you are seeking someone to wow your audience, challenge them to think differently about innovation and the future, then you might find this to be a really fascinating way to take your meeting or event to the next level.
By the way, when you’re on stage, you’ve got to keep your cool — and have a tech partner who excels at customer service! So it is with PollEverywhere. Somehow during the process, just after voting and building the second poll, I lost the results to the first one! While on stage, I commented about this to the audience, looked up the customer support phone number for PollEverywhere, and phoned them.
They picked up the call in just under two minutes — and immediately showed me how to fix my problem.
Read my Foreword for this report on the new era of customer interaction
Next week in Orlando, I’m set to be the opening speaker for the 14th Annual Process Excellence Week 2013 in Orlando – with folks from most global Fortune 1,000 organizations in the room.
The focus – aligning fast paced change to a customer centric world, and the need to align business process to market, customer, technology, business model change.
There’s a lot to cover
and a lot to talk about — and I’ve got 45 minutes to get these folks fired up about the fascinating opportunities unfolding in their future as we devolve to a world in which the future belongs to those who are fast!
The folks at PEX have just released their seminal 2013 white paper, “Transforming customer feedback into opportunity.”
And they were kind enough to ask me to consider writing a Foreword for the report — to which I responded with an unequivocal yes. I pride myself as a speaker on the obvious need to go above and beyond client expectations — it’s not just about the keynote, it’s about an opportunity for transformation of a profession! And turning customer feedback into opportunity!
You can read my Foreword from the report by hitting the image.
You can also request a full copy of the report here — you will need to register.
Three of my favorite comments from my Foreword:
Fix things fast
When things go wrong with a customer relationship fix them fast. Have a communications plan.Be prepared to reassure the customer quickly. In this new era of hyper-information feedback, don’t let the customer sit and stew for a moment — proactive information and proactive action is the only weapon you have, and you have to use it.
Admit that mistakes will happen
It’s ok. It’s the 21st century. Bad things go wrong all the time. Accept that, and use that as a go- forward strategy.
“Things will go wrong and we will work to fix them fast” is a better strategy than “we plan on rolling it out and holding our breath that things don’t get messed up.”
Empower people with niceness
Customer-centricity and the instant-age demands that the customer be made happy — quickly.
Give staff who have not previously had the authority, the authority to do things to the customer that are nice. That will help to ease the early part of the “pain process.”
Every company in every industry is in a situation in which the customer is more empowered than ever before. Accept that — work with it — learn from it — and use it as the base for innovation!
Here’s some of the key trends that I see unfolding through 2013 and beyond.
My unique job allows me the opportunity to see and hear what a lot of CEO’s and senior executives in a lot of organizations are thinking about. The nature of my keynotes and small board / leadership meetings allows me to understand what folks are focused on. The research I do, whether for a major manufacturing conference in Las Vegas or a small corporate meeting with an ice cream company allows me to see the key trends that are unfolding right now.
And so given this unique perch, here’s some of the most important trends which will play out in the year to come.
1. Moore’s law – everywhere!
Going forward, every single industry, from health care to agriculture to insurance and banking, will find out that change will start to come at the speed of Moore’s law — a speed of change that is MUCH faster than they are used too. (Remember, Moore’s law explains that roughly, the processing power of a computer chip doubles every 18 months while its cost cuts in half. It provides for the pretty extreme exponential growth curve we see with a lot of consumer and computer technology today.)
Consider health care. Genomic medicine is moving us from a world in which we fix people after they are sick – to one where we know what they will likely become sick with as a result of DNA testing. And that’s where Moore’s law kicks in, as Silicon Valley takes over the pace of development of the genomic sequencing machines. It took $3 billion to sequence the first genome, which by 2009 had dropped to $100,000. It’s said that by mid-summer, the cost had dropped to under $10,000, and by the end of the year, $1,000. In just a few years, you’ll be able to go to a local Source by Circuit City and buy a little $5 genomic sequencer – and one day, such a device will cost just a few pennies.
The collapsing cost and increasing sophistication of these machines portends a revolution in the world of health care. Similar trends are occurring elsewhere — in every single industry, we know one thing: that Moore’s law rules! Hence, my catchphrase — the future belongs to those who are fast!
2. Loss of the control of the pace of innovation
What happens when Moore’s law appears in every industry? Accelerating change, and massive business model disruption as staid, slow moving organizations struggle to keep up with faster paced technology upstarts.
Consider the world of car insurance — where we soon will see a flood of GPS based driver monitoring technologies that will measure your speed, acceleration and whether you are stopping at all the stop signs. Show good driving behavior, and you’ll get a rebate on your insurance. It’s happening in banking, with the the imminent emergence of the digital wallet and the trend in which your cell phone becomes a credit card.
In both cases, large, stodgy, slow insurance companies and banks that move like molasses will have to struggle to fine tune their ability to innovate and keep up : they’re not used to working at the same fast pace as technology companies. Not only that, while they work to get their innovation agenda on track, they’ll realize with horror that its really hard to compete with companies like Google, PayPal, Facebook, and Apple — all of whom compete at the speed of light.
It should make for lots of fun!
3. “Follow the leader” business methodologies
We’re also witnessing the more rapid emergence of new ways of doing business, and it’s leading us to a time in which companies have to instantly be able to copy any move by their competition – or risk falling behind.
For example, think about what is going on in retail, with one major trend defining the future: the Apple checkout process. Given what they’ve done, it seems to be all of a sudden, cash registers seem to be obsolete. And if you take a look around, you’ll notice a trend in which a lot of other retailers are scrambling to duplicate the process, trying to link themselves to the cool Apple cachet.
That’s the new reality in the world of business — pacesetters today can swiftly and suddenly change the pace and structure of an industry, and other competitors have to scramble to keep up. Consider this scenario: Amazon announces a same day delivery in some major centers. Google and Walmart almost immediately jump on board. And in just a short time, retailers in every major city are going to have be able to play the same game!
Fast format change, instant business model implementation, rapid fire strategic moves. That’s the new reality for business, and it’s the innovators who will adapt.
4. All interaction — all the time!
If there is one other major trend that is defining the world of retail and shopping, take a look at all the big television screens scattered all over the store! We’re entering the era of constant video bombardment in the retail space. How fast is the trend towards constant interaction evolving? Consider the comments by Ron Boire, the new Chief Marketing Officer for Sears in the US (and former chief executive of Brookstone Inc.): “My focus will really be on creating more and better theater in the stores.”
We are going to see a linking of this ‘in-store theater’ with our mobile devices and our social networking relationships. Our Facebook app for a store brand (or the fact we’ve ‘liked’ the brand) will know we’re in the store, causing a a customized commercial to run, offering us a personalized product promotion with a hefty discount. This type of scenario will be here faster than you think!
5. Products reinvented
Smart entrepreneurs have long realized something that few others have clued into : the future of products is all about enhancement through intelligence and connectivity. Nail those two aspects, and you suddenly sell an old product at significantly higher new prices.
Consider the NEST Learning Thermostat. It’s design is uber-cutting edge, and was in fact dreamed up by one of the key designers of the iPad. It looks cool, it’s smart, connected, and there’s an App for that! Then there is a Phillips Hue Smart LED Lightbulb, a $69 light bulb that is uber-smart, connected, and can be controlled from your mobile device. Both are sold at the Apple store!
Or take a look at the Withings Wi-Fi Body Scale – I’ve got one at home. Splash a bit of design onto the concept of a home weigh scale, build it with connectivity, link it to some cool online graohis and you’ve got a device that will take your daily weight, BMI and body-fat-mass tracking into a real motivational tool. Where is it sold? Why, at the Apple store too!
Do you notice a trend here?
6. Careers reinvented
For those who think that the economy in North America sucks, here’s an open secret: there’s been an economic recovery underway for quite some time, as companies in every sector ranging from manufacturing to agriculture work hard to reinvent themselves. It just doesn’t involve a lot of new jobs, because the knowledge required to do a new job in today’s economy is pretty complex. We’ve moved quickly from the economy of menial, brute force jobs to new careers that require a lot of high level skill. The trend has been underway for a long, long time.
Consider the North American manufacturing sector, a true renaissance industry if there ever was one! Smart engineers at a wide variety of manufacturing organizations have transformed process to such a degree, and involved the use of such sophisticated robotic technology, that the economic recovery in this sector involves workers who have to master a lot of new knowledge. One client observed of their manufacturing staff: “The education level of our workforce has increased so much….The machinists in this industry do trigonometry in their heads.”
Similar skills transitions are underway in a wide variety of other industries….
7. The Rise of the Small over Incumbents
You’ve likely see the commercials for Square, the small little device that lets your iPhone become a credit card. Once again, small little upstarts are causing turmoil, disruption and competitive challenge in larger industries — and often times, the incumbents are too slow to react.
Anyone who has ever tried to get a Merchant Account from Visa, MasterCard or American Express in order to accept credit cards knows that it is likely trying to pull teeth from a pen – many folks just give up in exasperation. Square, on the other hand, will send you this little device for free (or you can pick one up at the Apple Store.) Link it to your bank account, and you’re in business.
So while credit card companies have been trying to figure out the complexities of the future of their industry, a small little company comes along and just does something magical! No complexities, no challenges, no problems.
8. The Energy-Driven Economic Rebirth!
What is occurring in the US right now in terms of advanced energy discovery techniques – whether with shale gas, horizontal drilling, new subsea mapping technologies or other new discovery, exploration and production techniques — is probably one of the most significant trends of this decade. And in North America, the next economic recovery is happening now because of of this. We are going to witness a resurgence of industry in North America.
Consider this : PriceWaterhouseCoopers has suggested that high rates of shale gas recovery could result in a million new manufacturing jobs by 2025 in the US, and the fact that revived natural gas industry “has the potential to spark a manufacturing renaissance in the U.S., including billions in cost savings, a significant number of new jobs and a greater investment in U.S. plants.”
9. The revolution that is mobile health and fitness.
Every industry in the world today finds itself in the midst of dramatic change, as mobile smartphone technology comes to change business models, consumer behaviour, and entire professions. No where is this more evident today than what is happening in the world of health care, wellness and fitness, as a flood of new apps and technologies emerge that will forever change this world. There is an absolute revolution going on involving the “consumerization of fitness and wellness.” At this moment in time, we are witnessing the perfect confluence of several major trends:
the first signs of the reality of the massive scope of the health care crisis (both disease, lifestyle and funding related) as baby boomers begin to flood the health care system with requirements for extra care
a renewed and significant focus on “preventative” health care concepts” ;
structural change aimed at wellness programs so that people work harder to avoid or reduce the impact of lifestyle disease;
and the rapid emergence of new technologies — many involving the smart-phones that have become a ubiquitous part of our lifestyle – that can motivate consumers to do so much more with their personal fitness and wellness.
Companies are recognizing there is a big opportunity to be innovative with managing health care costs through a proactive approach that involves wellness. It’s a good example of the deep, transformative thinking that is occurring with many organizations in the health care system worldwide . Organizations are moving beyond the endless political debate, and are instead, putting in place practical, innovative programs that can help organizations manage health care costs, and employees can actively work at improving their overall health and fitness.
10. Thinking big means winning big!
“There are people who are making big bold bets, big bold decisions, we are going to change the world and we are going to do things differently.” That phrase was from my opening keynote for the 2012 Accenture International Utilities and Energy Conference last week in San Francisco. It’s a good sentiment, and a good video clip to close out this post!
Where do you stand? In a company that is focused on small, incremental nothingness, or one that is set out to change the world?
Recently, I’ve had two absolutely fascinating session, each about 2-3 hours in length.
In one case, a major private equity firm engaged me to meet with their main advisory board In another case, I met with a group of very wealthy investors who were / are owners of major family held businesses, with valuations into the hundreds of millions or billions of dollars.
Over the years, I’ve taken on an increasing number of small, intimate events for investor groups that have involved me leading a wide ranging discussion of the investment opportunities I see emerging in the future.
In both cases, these small, intimate meetings (with 20-40 people) were built around a structure in which I would cover a wide variety of future trends where I saw significant opportunity in the future. We then had a wide ranging discussion around these opportunities and a very lively debate.
Both were pretty heavy duty groups, with current and ex-CEO’s, Congressmen, Senators, venture capitalists and angel investors, university professors and researchers. Without getting into a lot of detail, one of the events had me take on four specific issues. These are the key areas that I spoke about:
big data: what’s beyond the hype, and what’s real?
intellectual property – what’s next as a venture play
oil & gas & US energy self-sufficiency: what sideline opportunities are emerging
regulatory challenges: as the velocity of change runs up against regulation, who will emerge as unique winners?
In the other case, I defined future opportunities in the context of the vast, transformative trends that are upending industries, providing for massive business model innovation, and for a lot of competitive disruption:
pervasive connectivity: massive opportunity as every device is connected, and we have awareness as to its status, location and IP address
big, bold movers: the phrase I use for organizations who are in a transformative frame of mind in solving big problems in healthcare, energy and the environment
revenue reinventors: how to find the signs of organizations reinventing their revenue stream at a furious pace, which is fundamental to success in todays economy
health care reform: what’s really happening, and who’s really innovating far beyond the political bluster. Think bioconnectivity, virtuality, mobility, wireless.
the future energy: opportunities beyond shale which involve accelerating science. Cows!
These types of sessions are tremendously invigorating; I really enjoy them, and the feedback in both cases was fabulous.
So there’s another thing that a futurist does that you might have never thought we do.
While I do a lot of major keynotes for associations and conferences — yesterday, I opened the HR Southwest conference in Dallas with an audience of about 2,000 — I also do a lot of small, executive oriented sessions.
These range from groups of 10 people around a boardroom table, or a senior leadership group of 100 or so executives. I’m usually brought in by a senior executive to provide a talk on the future trends affecting a particular industry; to help them re-frame the concept of innovation; or a combination of these two key themes.
While I often speak to conference audiences of 500 to 5,000, I also do a lot of sessions for CEO’s and other senior management teams in small, leadership oriented events, providing a key message on the necessity for innovation in the high velocity economy.
Regardless of the industry and size of the group, the planning for such a talk often involves a long conversation with the CEO or other senior member of the management team in advance. There are issues that are on the table; often, they’re planning to out of the office for a day to think, strategize and shape their focus, and I play a key role in this big investment of time. We spend time talking about how I can customize my insight, and hone the message that I can deliver.
I always scribble down little notes of our conversations; I use these when I start my research and when I’m pulling together a slide deck. And through the years, I’ve kept many of these notes; they provide tremendous, wonderful insight into the mindset of a typical major CEO or other senior executive. And spending time with so many of these folks has helped to shape the direction of one keynote that I do that is particularly popular : “What Do World Class Innovators Do That Others Don’t Do?”
I was searching through a pile of these notes the other day, and came across one from a few years ago that I think does a really good job of reflecting what’s on the mind of an executive that runs a major, global organization. This particular individual described to me what he hoped his organization and team would be able to develop in terms of core innovation competencies:
excel at seeing opportunity: the organizations needs to get better at spotting new emerging opportunities, whether with markets, customers, or products. It’s been very, very inwardly focused, and is starting to lose out on many great opportunities because the team seems to be too busy looking inwards, solving problems and firefighting, rather than looking outward to see ‘what comes next, and what should we do about it?’
adapt to fast paced markets: there needs to be a clear recognition that customers are more demanding; that the value proposition of the product line is being subjected to greater pressure than ever before; and that some competitors are moving faster in reinventing the product line. The company is competing more on price than on the value of the product, which is leading to commoditization. They’ve got to get better and ‘speed up’ the process of adapting to all of this change.
watch for disruption: clearly there are new organizations, particularly in the technology space, looking at the industry and thinking about ways to change the business model. That’s a significant challenge, and the leadership team needs to understand the potential for disruption, and think through opportunities for a strong offence and a good defence to deal with this reality.
realign innovation pipeline: for years, all R&D has been done internally, yet there’s a realization that the entire process of R&D has changed in almost every industry; the organization needs to be more outward in terms of sourcing external ideas, developing unique innovation partnerships, and seeking to align itself to the ideas of some of the small start-ups that are changing the process of development within the industry.
ride generational change : there’s a recognition that the next generation of digital natives are now making their presence well known throughout the organization. They’re impatient for change, full of ideas, and ‘chomping at the bit’ to pursue innovative ideas. The senior management team needs to be thinking about how best to utilize their uniqueness as an opportunity, rather than trying to shut down their thinking because the don’t fit the historical norms of the organization
align to technological velocity: there is a clear understanding that the next wave of technology will not be about streamlining process or providing efficiencies; instead, it is all about redefining the industry, changing products through pervasive connectivity, and accelerating change in many different ways. The organization needs to learn to ‘innovate at the speed of Apple’ as this fundamental change unfolds
re-assess skills: there is a big mis-match between what the organization has in terms of skills, and the skills that it really needs to accomplish all of the above. It needs to get better at ‘getting the right skills at the right time for the right purpose.
If you take a close look at this list, prepared from my hastily scribbled down notes, you’ll get a sense of what keeps a modern-day CEO up at night.
And it will also put into perspective the starting point at which I begin to pull together my talk.
"An outstanding presentation for an industry and association that falls on its traditions so often. We learned that our tradition should not be something that holds us back, but rather the launching pad for innovation for the future. Thanks Jim for your thought provoking presentation!"
- PGA of America Annual General Meeting
"On behalf of the entire Innovative Technology Partnerships Office, thank you for your engaging and thought-provoking presentation at NASA Goddard Space Flight Center. From the feedback we have received, the event was a great success. Thank you for sharing your insight and expertise with us!"
- NASA Goddard Space Flight Center
"We were extremely pleased with Jim’s presentation... the content was bang-on and would hopefully prompt people to think about the rapidity of change going on in our world!. Jim’s storytelling approach really helps to get his points across! He did a great job!"
- Walt Disney Company
"We thought Jim was amazing - just the positive message we wanted to leave folks with.
- T. Rowe Price
"A stunning keynote with extremely powerful insight. Humour, energy, deep research and relevant content for our audience. We loved him!"
- Swiss Innovation Forum
"Jim Carroll is an exceptional speaker. Period! Jim was the keynote for our U.S. Manufacturing Summit to support advanced manufacturing technologies. He has a boundless energy to support his well crafted presentation. It was thoughtful, persuasive, and entertaining! You have to experience Jim Carroll!"
Jim Carroll delivered an excellent and powerful keynote at our annual Innovation Summit. We selected Jim because of his accessibility and passion to tailor his expertise to fit our vision, this combination produced exceptional results. We will certainly be partnering with Jim in the future and recommend you do the same.
- Amsted Rail
People were really excited and energetic. I got comments about your presentation and the day as a whole like “home run” and “perfect.” Your presentation was policy in a thought provoking way - and with the focus on the future and technology, the Denver Chamber of Commerce will surely see this as a great “jumping off point” to their broader transportation conversation.
- Colorado Transportation Summit
"What's in the future? Jim helped us think about it, challenged us out of any complacency, and inspired us to think bigger!"
- Cruise Line International Association
"Jim Carroll recently presented at Lockheed Martin’s Executive HR Leadership conference. His content was very provocative, fascinating, and relevant. I’ve embedded a couple of his nuggets into my operating model
- Lockheed Martin
"Many thanks for your presentation, “7 Things You Need to Do Right Now: Aligning the Fast Future to Your Current Strategy” It couldn't have been more energy filled and dynamic to start the conference out on the right foot. It was exactly what the audience wanted and needed to hear. The feedback from all attendees was excellent."
- VIBE Conference, Las Vegas
"Bringing Jim into our MLC Sales Conference in Sydney was truly incredible. The key note session Jim delivered was on the money, he exceeded my expectations."
- MLC National Australia Bank
"Jim is one of the best speakers we had. He had excellent information that our attendees could take home and incorporate it into their plans immediately. He also incorporated our messages into his presentation that helped localize the information for our group. Highly recommended!"
- Illinois Bureau of Tourism.
"You certainly challenged us as to the pace of change the future is bringing to our industry, at the same time that you inspired us to embrace it’s opportunities. You were outstanding! Ranchers are pretty conservative – particularly here in Texas – but you were the best speaker we’ve ever had at our event!
- Texas Cattlefeeders Association
"After seeing Jim speak at another conference, I was so motivated by his presentation, I invited Jim to speak at a conference for my organization. Another home run! Powerful, articulate, thought provoking and energetic! Jim's delivery on the importance of staying abreast of rapidly changing trends truly can assist in changing the way we do business!"
- US Navy, Air Force, Marine Child Youth Program Conference
"... your talk hit just the right note.....I did have several people ask me if they could get a copy of your presentation as well as many who noted that the programming was fantastic and gave them a lot to think about."
-Consumer Electronics Association CEO Summit
"Thank you for an outstanding opening keynote for the 10th Anniversary Opportunities Conference: you received a 100% approval rating which has only been achieved 2 other times in our 10 year history!"
-Opportunities Conference Organizer
“We were extremely pleased with Jim’s presentation….. the content was great and would hopefully prompt people to think about the rapidity of change going on in our world! You were superb! As we make changes your message could not have come at a better time. This group likes tradition but unfortunately that often gets in the way of moving forward. Thank you again for reminding us that our greater responsibility is to the future!"
- US National Recreation and Parks Association
“I have been working with Jim for the past four years, and, without question, he is one of the most dynamic speakers and professional partners I’ve ever come across. Our audiences (internal and external) love him, and he works wonderfully with our customers. ….I’m willing to bet your first experience will lead to many, many more, as it has with SAP. I wish you the best with him….book him before someone else does!”
Healthcare in 2021? What will we be doing in 10 years time? Well, according to Jim Carroll, keynote speaker for the opening session, definitely not what we're doing today! He presented an invigorating view of what our healthcare systems could be looking like and it's up to us to decide how we get there. We'll be accepting his challenge to take three scary ideas away and think about how we can make them work, rather than the reasons why they won't. The poll4 system was fun and it was definitely the first time we'd been asked to turn our phones on during a presentation!
- International Society of Medical Publication Professionals
“Jim really walks his talk! His commitment to preparatory research for our presentation was most impressive. Jim’s material is powerfully relevant, practical and actionable. He engages the audience with humour, sharing of personal experiences and unfailing courtesy and respect for his audience.”
-Rogers Communications Inc
Sample of recent and upcoming speaking engagements
PGA - Professional Golf Association
94th Annual General Meeting
le Club B
NASA Goddard Space Flight Center
Innovation Thought Leadership Event
Computer Science Corporation
CSC Executive Exchange
St Andrews, Scotland
Walt Disney Corporation
Wall Street Journal
"Putting Capital To Work" Event
New York, NY
Southern Gas Association
Annual Executive Conference
HIPO Leadership Meeting
San Francisco, California
Global IT Meeting
San Francisco, California
World Energy/Utilities Conference
San Francisco, California
Sandia National Laboratories
Leadership Innovation Symposium
Albequerque, New Mexico
ERA Real Estate
ERA Connect Annual Conference
T. Rowe Price
Client Investment Symposium
International Dairy, Deli & Bakery Association
New Orleans, Louisiana
Global Payments Conference
Texas Municipal League
100th Annual Conference and Exhibition
Genesis Systems Group
Robotic Automation Conference
NASA - National Aeronautics and Space Administration
5th Annual Program / Project Leadership Kickoff