Reimagining Business

Change is interesting on every level. I’ve heard that public speaking is the #1 fear, even more so than death. My experience with business owners and corporate execs tends to indicate that change is even more frightening.

We soften the concept of change by calling it innovation. Still, innovation seems to be interesting mostly if someone else is doing it. When it comes to your own doorstep, as in you have to learn or do something differently now, it loses it’s sparkle.

There are a few companies who recognize that business must systemically and fundamentally change in order to be relevant and sustainable going forward. These are the brave ones, the committed leaders who’ve embraced the understanding that all business is ultimately human business and as such, must appeal to the higher nature inherent in humanity.

The old days of simply looking at bottom lines and profit margins for maximizing revenue is over. People, at an increasing rate, are choosing to do business for nobler reasons and are voting for attention to human values with their dollars. They have figured out that lower prices for them may mean hardship for others or a manufacturing process that is unhealthy for workers and/or the environment. In other words, low cost may be more expensive than anyone wants to pay.

The companies that don’t want to change will ultimately be forced to accept their responsibility to society and the environment (either by loss of sales, government regulation, or public disgrace, etc) or they will cease to exist.

It’s time to reimagine business. Do good while doing business. Make it a part of your business model, your processes, your supply chain, your people, your services and products. Perhaps you need to chuck the status quo and even daydream a little bit. What should a company looked like that actually cared about the people it impacts?

The business leaders that ask that question and make the changes necessary today will be the true leaders of tomorrow.

Success Requires Business with Higher Ideals

In 2008, Jim Stengel left his prestigious role as global marketing officer at Proctor & Gamble to start on a new mission sharing his passion for growing business through a focus on higher ideals. Below is a good video that shows the result of studying the world’s top 50 brands and their correlation to ideals. These companies are successful because they don’t just offer a product or service but reach for something higher.

It’s a great video in its entirety but please try to watch at least the first 3:20. And if you can hang in there longer, keep watching for the great example of Coca-Cola’s return to ideas by delivering happiness—guaranteed to make you smile (unless you insist on being pissy).

The research done by Stengel and his partners at Millward Brown reveals every successful brand must address at least one of the following fundamental ideals (human values):
Joy: Delight people with experiences of joy, wonder and limitless possibility (examples: Lindt, Zappos)

Connection: Enhancing the ability of people to connect with each other and the world in meaningful ways (Natura, Starbucks)

Exploration: Helping people explore new horizons and new experiences (Discovery, Pampers)

Pride: Giving people increased confidence, strength, security, and vitality (Snow Beer, Mercedes Benz)

Society: Affecting society broadly, from challenging the status quo to redefining categories (IBM, Innocent, Method)

Ultimately, every business is human business. Connect to your customer’s fundamental values and they will connect to you.

Here’s the link to his video. Enjoy!

The New Story of Brand Success: http://www.jimstengel.com/thought-leadership#articles