About two years ago, I wrote a book called This Is It, all about the reasons and processes behind evolving one’s life. But, what about businesses—large or small—and their leaders, executives, and managers, who are trying to figure out why and how to evolve their business? Today, I begin a new mini-series titled This is It for Your Business.

In today’s episode, we start with Chapter 1—Evolve or Else. I share why you need to evolve your business continually. I examine the lack of appreciation for the speed at which the world is changing and how this could impact what we do for a living. I recount several stories of businesses that failed to recognize this pace of change, including Polaroid, Blockbuster Video, and Skype. I discuss how industry is changing from digitization to innovation and how this is forcing companies to re-examine the way they do business. I explain why standing still is not an option. I also reveal why customers’ love is not guaranteed, making the only options keeping up with or staying ahead of what they want, which means getting your innovation act together.

“If you don’t constantly morph your business, you’ll be lucky to be a footnote in the history of business.” - Chris Colbert

This week on Insert:Human

• Why you need to innovate and evolve your business
• The pace of change in the world and how this might impact businesses and careers
• Examples of business leaders ignoring the rate of change
• The risks of focusing on growth and ignoring the truth of the market and emerging competitive technologies
• Committing to innovate what we do, how we do it, and why we do it
• Why transforming and innovating are hard, and why most leaders have a difficult time
• The shift from the third (digitization) to the fourth (innovation based on combinations of technologies) industrial revolutions
• The change in buyer behavior and the culture of disloyalty enabled by internet shopping

Resources Mentioned:

• Book: This Is It by Chris Colbert
• Book: The Fourth Industrial Revolution by Klaus Schwab
• The Conference Board
• McKinsey
• World Economic Forum
• Nielsen Catalina

Insert:Human - For a Better Life & Better World

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