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“Mark twain” actually meant that the river was only 12 feet deep-barely enough for steamers. Rivers are like trends. Rivers eventually change the terrain, as do trends, and those who take advantage of these changes benefit greatly – while those who ignore such changes can run aground on a sandbar in the river.
Happy Holidays, 2016! Here are some ideas to prepare your market sensing for the new year and some of my latest Forbes posts.
Most companies use a form of Status Quo planning- using past data to predict a Defend and Extend strategy. That works fine until a competitor jumps on a trend. Here’s how to upgrade your innovation planning process.
“Scenario Planning” sounds like an esoteric MBA topic. But, it could not be a more valuable tool to identify Trends. The success or failure of your marketing plan or your company are dependent on trends. Here’s how to find the right Trends to follow.
Market changes are not as obvious as Fall is on the calendar. This newsletter is all about predicting change, and preparing to pivot to meet those changes. Growing firms know that adapting – pivoting – is essential, and it always requires reading the trends and preparing to change.
August is beach season – you are probably on, near or thinking about relaxing on a beach! Well, to an innovation/disruption expert like me, beaches remind me of…white space! That’s the market which is beyond the “box” of the current success formula.
Did you sample the televised fireworks broadcasts on July 4th? Ratings confirmed that over 17 million people tuned in to the national broadcasts, and millions more watched locally broadcast displays as well. Advertisers have capitalized on this growing audience.
Why are more people watching these shows? What happened to the picnic blanket and the concussion of loud shells? In a word: Trends.
Summer is here in the Northern Hemisphere, and it is time to get outside. And it is also time to take a new look at what’s going on outside your business.
Why do most companies spend all their resources on projects that support the current, internal company status quo? Why is 85% of corporate public information focused on the past? Why is past data scrutinized ad nauseum? Why does the planning process rely almost exclusively on past results? After all, isn’t it most important to project what will happen…in the future?
No, this isn’t an SAT question, but what do they have in common? Ripples.
Ripples as in wavelets. Stock market theory for years has taught about ripples, waves and tides as an analogy for patterns in financial markets. The same idea can be extended to using trends as a way to anticipate business opportunities.
How does your company manage risk?
Companies prepare for the most visible risks, such as in-kind competition, supplier failures or regulatory change. They build “moats” around the core business up and down the value chain. They buy suppliers, buy distributors, use industry standards to increase cost of entry, add new features and bundled pricing plans, influence favorable legislation – countless other techniques.