For many years I've been affiliated with Vistage International, the world's largest executive coaching organization, giving talks and leading workshops on topics ranging from culture change to Blue Ocean Strategy. Recently, I was thrilled to be a recipient of the inaugural Vistage Top Performer Award for 2020, a great honor. Part of Vistage's new Speaker Awards & Recognition program, the Top Performer award is an annual recognition of speakers who have presented 25+ engagements, maintained a 4.5+ average score, and have a 95%+ recommendation rating in the previous year. Having given more than 450 talks, with a cumulative score of 4.6, I think I qualify!
I was speaking with someone recently who works for a ski resort that wanted to find a Blue Ocean Strategy®. Skiing and snowboarding are not growing, and mountain resorts—whether they are destinations or weekend retreats—need to find more nonusers to enjoy an experience.
Unfortunately, the ski resort's change strategy had not taken them very far so they abandoned it. A new business model was not in the works for them, either. While disappointing, this was not unfamiliar.
In contrast, one of our clients has robustly embraced the challenge of change and aligned their business around the undeniable fact that the next generation will not be doing things as they have been done before. While this company is in the telephone call center industry, it realized that "demography was their destiny."
It recognized that younger people don't use the phone to find solutions to their problems. They use the Internet, social media, blogs and all sorts of other means to figure out a solution. Those old 800#'s? For their parents. This company could see what was happening but also saw that their own clients weren't paying attention. So, they determined they could lead the industry by opening up a new market space embracing all types of customer care into their business model.
What do you need in order to adapt your business to changing times?
Imagine you inherit a family cabin in the mountains. You haven’t spent time there in years, and your family isn’t really interested in weekends at the cabin. Another family member offers to buy the cabin for $100,000.