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The innovation keynote speeches from Jeremy Gutsche offer strategies for innovating as well as a variety of tips for growing your business. He focuses on the ways brands can re-establish themselves as the leaders or innovators within an industry or how they can identify new opportunities in other sectors.
One of his main points focuses on looking beyond the failure of other companies. He urges his audiences and clients to be “cautious not to let the failure of others reinforce action.” The unsuccessful endeavors of others should not serve as a red flag to companies looking to try something new.
To explain this further, he uses the story of typewriter company Smith Corona and its competitor Remington.
“Remington was the first manufacturer of typewriters and one of Smith Corona’s fierce rivals. In 1950 Remington did get into computing. But by 1975, the company started to falter. The computing division was sold off and by 1981, Remington Rand declared bankruptcy. They would no longer be making computers.
This catastrophic failure lingered in the minds of Smith Corona managers. Remington Rand had been an icon, an icon with a similar heritage. If Smith Corona expanded into new, uncertain markets, maybe they would inherit the same fate.”
As a result, Smith Corona missed its opportunity to get into the computing game early ahead of others.
For more advice from Jeremy on this topic as well as other business and innovation-related content, check out the FREE copy of ‘Exploiting Chaos’ here.