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.
Look Beyond the Failure of Others
Jeremy Gutsche Offers Tips for Growing Your Business
Trend Themes
1. Looking Beyond Failure - There is an opportunity for companies to research industries that have failed and understand why they failed to avoid replicating their mistakes.
2. Identifying New Opportunities - Companies can expand into new and uncertain markets, even if they have limited experience or knowledge if they are willing to learn and adapt to new technologies.
3. Innovating in Uncertain Times - When times are challenging or uncertain, companies can strive to innovate and pivot their business models to remain relevant or find new opportunities in other industries.
Industry Implications
1. Technology - Innovation and evolution in the technology industry are critical to avoid being left behind by rapid advancements in new technologies and trends.
2. Manufacturing - Companies should be cautious not to be complacent and think they can continue to rely on old or traditional manufacturing techniques and instead explore the use of new materials and processes.
3. Retail - E-commerce and omnichannel retail are growing trends, and businesses need to look beyond their current brick-and-mortar models and embrace the online shopping space.