We are dealing with unprecedented change invoked by the COVID-19 pandemic. What we need more than ever is a sense of hope. So, we’ve taken The Outthinker Process – a strategic process that helps business leaders step outside of conventional thinking to redesign their business models and strategies – and reformed it specifically for what we’re going through right now.
In March, as the reality of COVID-19 started taking hold, when my team received our fifth request in one day to postpone a keynote speech and my calendar was suddenly, unexpectedly, free for months, we sat down to discuss what to do. We figured that (a) other business thought-leaders are similarly, suddenly free and (b) many are wondering what would happen to the business they own or work.
As I write this, I’m resting in an elegant second-floor hotel lobby overlooking the cobblestone streets of a pedestrian shopping district in Dublin, Ireland. Over the past 48 hours, I’ve delivered nine hours of speeches and workshops, conducted three podcasts and radio show interviews, and come to appreciate the remarkable advances Northern Europe has made to become a vibrant technology innovation hub.
In the 1830s, an artist and tinkerer, Samuel Morse, directed his curiosity to a question few had considered before. Numerous scientists and inventors across the globe were working on the problem of how to communicate across long distances more quickly.
Last month, I was thrilled to attend Parliament’s PowerShift, a gathering of diverse opinion leaders, change-makers, creatives, and corporates seeking to find interesting solutions to some of today’s biggest challenges. At the event, I had the opportunity to speak with Peter Sims, CEO of Parliament, about some of the themes of my forthcoming book, Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen.
Netflix made headlines recently for their unexpected decline in new subscription growth and drop in subscriptions in the US, which pushed their stock price down. Critics are asking if Netflix’s business model is relevant in the changing competitive environment, when Disney and other content owners have started pulling back their content from streaming services like Netflix in order to build their own.
In 1968, Olympic fans and athletes watched in bemusement as a college sophomore jumped over the high bar backward. Until that day, every gold medal winner, indeed every Olympic athlete, who had competed in the high bar had gone over forward. Dick Fosbury literally turned his back on that tradition … won the Olympics … and forever changed the way the competition is played. Within eight years, 90% of high jumpers were using what came to be called the “Fosbury Flop.” Today, the Fosbury Flop is just the way you do things.
In my forthcoming book, Seeing Around Corners (now available for pre-order wherever you buy books), one of the major themes is that a major blind spot for organizations is that they tend to see the world through the lens of their existing industry. There are a lot of good reasons for this, but it can cause otherwise smart organizations to stumble.
This month, Harvard Business Review featured a compelling piece – “The Age of the Continuous Connection: When You Can Interact with Your Customers 24/7 You Need a New Business Model” – by Nicolaj Siggelkow and Christian Terwiesch, co-directors of Wharton’s Mack Institute for Innovation Management. The piece inspires some exciting new strategies to stay ahead of the competition. But we think it only scratches the surface of what is possible.
After a flight home long enough to empty my inbox and complete three important pieces of work, I found myself in a quiet house, family sleeping upstairs, with time on my hands. So, I stretched out on my couch and indulged in a movie.