Monthly Archives: December 2014

Speed of Change

Speed of Change

Are You Innovating at the Speed of Change?

The world is changing all around us at an increasing rate, and individuals (and yes organizations too) are struggling to cope with this ever increasing pace of change.

In fact, over the last 50 years the average lifespan of a company on the S&P 500 has dropped from 61 years to 18 years (and is forecast to shrink further in the future).1

Innosight Average Company Lifespan

Nobody of course wants to be one of those organizations that goes out of business, but the fact is that if your organization can’t innovate and change at the speed of change of its customers’ wants and needs, and the pace of geopolitical, social, and economic change in the world around it, then it will likely have to change its sign from open to CLOSED, permanently.

Your organization may indeed be doomed to fail if it develops on or more of the following change gaps:

  1. Your speed of hiring is slower than the speed of your growth
  2. Your speed of market understanding is slower than the pace of market change
  3. Your speed of insight dissemination and acceptance is slower than the pace of market change
  4. Your speed of idea commercialization is slower than the pace of market change
  5. Your speed of innovation is slower than the competition’s speed of innovation
  6. Your speed of internal change is slower than the rate of external change

The last one is of course the largest and the most important, and the most complex, being composed of your speed of:

  • Market Analysis (gathering of insights and inspiration)
  • Invention (creation of innovation source material)
  • Design (building a potential solution around an invention)
  • Development (taking the design and creating a scalable, launch ready solution)
  • Test (Evaluating with customers whether the solution works as designed and scales as intended)
  • Evolution (Launching the solution into the marketplace with open eyes and ears, pivoting/improving as necessary)

While it is possible to enter a market too early, you can survive this tactical error if you enter in a small way instead of committing to a global launch with grand customer promises. However, much more damage comes to organizations that enter too late. So, as an organization we must be constantly striving to get faster at discovering new market insights and adapting and aligning our organization to fulfill newly discovered market needs more quickly than our competition, otherwise we might find ourselves locked out of our customers’ top consideration set tier.

Consumption Spreads Faster

What other change gaps do you see as you look at your business or that of your competition?

This is the first of many articles that I will be writing in the run up to my second book (to be published by Palgrave Macmillan), in which I will explore the importance and implications of change in the ongoing success of organizations, along with building up a concise set of best practices and next practices for change.

To help kick off this journey I will be conducting a FREE webinar with my friends over at CoDev, focusing on how Innovation is All About Change. This exclusive sneak peek and Live Q&A will take place from 12:00-1:00pm ET on January 15, 2015, and will feature a quick introduction to a new visual, collaborative change planning toolkit that I’ve developed and am ready to share with the world. Click here to register (link expired).

I hope you’ll come join me on this journey to improve the pace of change in our organizations!

UPDATE to banner: You can now access a free recording of this webinar using PASSCODE 1515 here (link expired)

1. Innosight/Richard N. Foster/Standard & Poor’s
2. Image Source: Wikipedia


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FREE Webinar – Innovation is All About Change

FREE Webinar - Innovation is All About Change

The hardest part of making any change is taking that first step. We may point our shoulders in the direction we want to travel, but planning our change journey and mapping the steps to get there can still feel overwhelming. This is true for co-creation and open innovation projects, change programs — even personal change.

Often it helps to be with others who are on a similar path. It also helps to have tools that simplify steps and offer motivation. I’m delighted to invite you to an exclusive conversation/webinar with me and my friends at CoDev (including host Cheryl Perkins of Innovationedge) on Thursday, January 15, 2015 at 12 pm ET.

Click here and use PASSCODE 1515 to access the FREE recording of this webinar (link expired)

In this interactive 60-minute session, I will share key tools and guidelines from my new, not-yet-published book from Palgrave Macmillan and give you some insights into what is in my new collaborative, visual change planning toolkit.

I will discuss:

  • How organizational change and project/ portfolio management tie together
  • Useful frameworks to move from the ‘what’ to the ‘how’
  • Best (and next) Innovation practices
  • Roles and responsibilities based on the Nine Innovation Roles (from his last book Stoking Your Innovation Bonfire.)
  • How innovation is all about change

I encourage your questions and look forward to dialogue with you, other members of your senior management team, and anyone else you think might have interest in the intersection of change initiatives, project management, and innovation.

Click here and use PASSCODE 1515 to access the FREE recording of this webinar (link expired)


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We Are Target. Who Are You?

By now you’ve probably seen the video of the Target employee standing on the checkout counter delivering a Mel Gibson, Braveheart inspired speech to fellow employees prior to opening the doors on Black Friday (nearly 4 million views and counting).

The video ends with “Because we are more than just a store. This is a team! This is a family! This is Target!!!”

It left me with one central idea at the end, and that’s the title of this article “We Are Target. Who Are You?” and the reason it left me with this idea is that in our companies we too often take the passion out of business. We inadvertently, through the way we communicate internally, end up sending the message that people should leave their passion at home, or feel passionate about something else other than our company.

What would happen if didn’t kill people’s passion at the same time we time we’re busy killing their creativity?

What kinds of connections with our customers could we form if we were (from the top to the bottom) passionate about serving our customers, about crushing the competition, and trying to be better than them in every way?

Do you want to work for a mediocre company?

Does your company want to be mediocre?

Does your company want to provide crappy customer service?

If not, then first work on making your company excellent in every way possible, and then give people permission to be passionate about serving customers and about demonstrating that excellence.

Then you’ll be ready to shout it from the rooftops!
(or at least from the counter)


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