Happy to report the great 3-page spread, written by Caleb, for the London Business Journal, Volume 4, issue 3, 2018.
Happy to report the great 3-page spread, written by Caleb, for the London Business Journal, Volume 4, issue 3, 2018.
NOMINATED FOR THE BUSINESS BOOK AWARDS 2018
Disruption is an oft-used term for that fact that we can rent out someone’s spare room online or order a restaurant’s food to take away and someone on a pushbike delivers it to us all using an app on our phone.
Disruptive Business Models and Disruptive Innovation have been with us for a surprising long 23 years.
It’s the term used to headline this book – Future Proof – on how to get your business ready for the next disruption. Whatever that may be.
A digital branding and strategy consultant with an AI consultant as co-authors, feels like this could be one of those journeys perhaps overly obsessed with Silicon Valley’s ways; and predicting all sorts of technologically induced utopia or dystopia depending on whether you’re a Kurzweil or Lanier fan.
So does this book do what it says? Mostly, yes it does.
First of all, I found it more practical than I expected. Simpler language, not jargon-fuelled acronym fests of overly excitable futurology. It’s written gently. Philosophical quotes to open each chapter is used by many authors, but in this book they serve as a very relevant intro to what’s to come in the 21st century words of the authors.
Secondly, this felt like every useful article I’ve ever read on LinkedIn about any of this stuff had been curated, edited and set out for me to read on one plane journey to SXSW in Texas. If you don’t know what SXSW is, then this book might be a great gap filler for you. If you’ve been to SXSW, it’s my guess that you won’t need this book.
Thirdly, the book is really trying to be your field guide for the next 2 years or so. Practical advice is included in the form of a suggestion or a prompting question. My guess is that this has come from the author’s experience in consulting and advising – it feels like a consultant’s book. But that’s not necessarily a bad thing. When so many of these concepts in the book are in-development, emerging technologies of the digital and analogue sense (like collaborative economies and platform based, algorithm-led learning apps), such consultants have to get to grips with to help their clients. This book feels like it’s being helpful to “clients” who happen to be readers.
If you are thinking “So, is this book for me?” and you already read Lanier and/or Kurzweil, I’d say not.
If you’re only just a little aware of Don Tapscott, Robert Ford, Bettina Warburg, Gerd Leonhard and Nathalie Nahai, then this book will bring a lot of things they share and talk about into a digestible sprint. Through areas like the Cloud, Blockchain, 3D Printing and Cyber Security. It’s not all digital but there’s a lot of digital in here.
I come across a lot of HR professionals a bit overwhelmed by things they hear about but don’t quite understand, because such things (blockchain and AI) are not influencing their practice – yet. This book will give some people a head start on catching up. I’d even suggest this book is aimed at those in corporate roles a little bit distant from the cutting edge of new product development.
So I liked it – well put together.
Did I learn much? Not really but I still enjoyed how they presented practical advice on things that to some are far far away technologies.
Well done Minter and Caleb. I hope your readers will urge you for a revised version 3 years hence when Quantum Computing; 4D printing; Neuralinks and Nanobots are the next wave of disruptions to future proof ourselves against.
Perry Timms, Founder and Chief Energy Officer, PTHR
We are excited to announce that, starting in August, Futureproof will be given away to guests at the Conrad Hotel in New York as part of a bedside reading offer. The initiative received some unexpected press coverage:
As cited in one of the articles:
“Bedside Reading®, the only program to place complimentary best-sellers at the bedside of luxury hotels across the U.S., is introducing the Beside Reading program to Conrad New York as the first business-focused hotel to provide both business and leisure travellers with a way to unplug and enrich their minds while travelling.”
Caleb and I are thrilled that Conrad accepted Futureproof. It’s a prestigious hotel in the high season! We’ll have to wait to see how it rubs off!
Caleb and I are delighted to announce that our book, Futureproof, has won the Business Book Award 2018 in the category of Embracing Change. While I was away at SXSW, fortunately Caleb was on hand to receive the award. By all accounts, it was a grand evening. The Business Book Awards (BBA) has been organised by the ebullient Lucy McCarraher, who is also the co-founder and Managing Editor of Rethink Press. The MC was Nadine Dereza and my friend, Dan Priestley, gave an apparently very inspirational keynote speech.
In the Embracing Change category, we were up against four other fine finalists:
Core (Routledge Press) by Neil Gaught
Caleb and I would like to chance this chance to commend all the competing titles and join in celebrating all the other winners:
Thanks to Lucy for putting on the awards, to our editor Eloise Cook for the hard work and support, as well as the crew at Pearson for the ongoing support. Also, a shoutout to our friends and family for their support!
We are delighted to announce that Futureproof has been voted a finalist in the inaugural Business Book Award 2018 in the category, Embracing Change.
The awards ceremony event will be held on March 16, 2018 at the The Grange City Hotel London. Caleb Storkey (co-author) will be on hand at the event.
The four other finalists are:
Daniel Rowles, CEO Target Internet, Author of Mobile Marketing and Digital Branding
Technological change is almost always told as a story of destruction. A new thing is invented, and it crushes everything in its path. From Frankenstein’s monster terrorising villagers in 1818, through post-nuclear Godzilla stomping Tokyo flat, we have ended up in 2015 with Benedict Evans telling us that “mobile is eating the world.”
But is that view of technology, innovation, and disruption always true?
It sure is some of the time! From 2002 to 2015, US print newspaper ad revenues in constant dollars fell 78%, with a compound annual decline of almost 10%. Coin-operated arcade game revenue fell 89% between 1992 and 2015, again in constant dollars. The largest video rental company in the US went from $6 billion in revenues in 2004 to bankruptcy and zero revenues in 2010, at least in part due to streaming video on demand services. But that was a single company, not an entire industry: the real poster child for digital destruction is what happened to sales of recorded music after the MP3 file and the various players. From 1999 to 2015, US compact disc sales fell 92% in constant dollars.
Can you even imagine being in an industry where revenues – not profits, but revenues – fell 92%? Even Godzilla left more buildings standing!
Based on these examples, it is clear that growth in new technologies always means the end for old industries: digital destroys the old ways of doing news, games, video and music. Case closed.
Not so fast. Being able to read text on a screen has truly changed the world of print newspapers (not to mention print magazines, print directories and print catalogues.) One would therefore reasonably expect the same disruption to occur for print books. Famously, Nicholas Negroponte predicted in 2010 that print books would be dead in five years. Here it is in 2015, and not only are eBook sales stuck under 20% of all books purchased in the US, but sales are actually declining while print book sales are rising.
The gaming market is certainly influenced by new technologies. The rise of the smartphone, tablet and casual games has changed the market, with mobile games surpassing console games in 2015 and predicted to exceed PC games revenues in 2016. But although mobile will be the single largest gaming market, both console and PC games are still growing, up an anticipated five and six percent respectively in 2016. Further, although PC and console titles are not the only game in town (as it were), they will still represent over 60% of the global market in 2016; a far cry from the fate of coin operated arcade games.
Streaming video disruption led to boarded up video rental stores across North America and the largest player will have over 70 million subscribers in over 60 countries by the start of 2016. But what impact has streaming had on traditional TV in North America so far? Although there were fears that 20% of the nearly 100 million subscribers to pay TV service would cancel and ‘cut the cord’ as long ago as 2012, the actual decline was fewer than 170,000 subscribers in 2013 and 2014, and fewer than 10,000 subscribers in 2012. Or between 0.01% and 0.2%. Further, the monthly price paid for pay TV in the US is still rising, and even the number of minutes of TV watched daily has fallen by only seven percent from the peak (of 334 minutes of live and time-shifted TV per day) in 2013. The rise of streaming has had a negative effect on the traditional TV business, but it is orders of magnitude smaller than what happened to rental stores.
Finally, let’s go back to our digital destruction poster child: the music industry. The MP3 file didn’t just change CD revenues into some other kind of physical format revenues, or even into digital revenues, instead the growth and ease of piracy has caused ALL music sales to collapse, right? In fact, between 2008 and 2015 one US live music company saw its concert revenues grow 23% in constant dollars, or 2.8% annually. The digital trend that almost obliterated the CD industry a) didn’t seem to hurt live music at all, and b) may in fact have freed up consumer dollars for spending on live concerts.
Writing from Paris in 1913, Gertrude Stein said “A rose is a rose is a rose is a rose.” She didn’t write it on a smartphone, and a century later I want to modify her quote: digital is not digital is not digital. The forces unleashed by innovation and disruption are not the universal and obliterating things that we imagine or read in the media. The same digital trend that is crushing print in many forms is leaving print books more or less intact. Live music is benefitting from piracy. Sometimes disruption destroys a traditional industry, sometimes it hurts it a bit, and sometimes it actually helps.
Director of Research at Deloitte Canada
The Web-enabled Force is the most importance force. There, I said it.
It’s hard to imagine anything more important than the flexibility of the Internet accessed through a browser. The scary thing? We have quite a bit of untapped potential left with respect to the Web-enabled Force.
Let’s take a look at the facts, shall we?
For one, e-learning has barely reached the apex of its growth. With the rise of college tuitions sharply on the rise, options such as Khan Academy and Coursera will only continue to grow. This will put onus, eventually, on higher ed institutions to invest deeply in distance learning, as well as to increase the odds that the next captains of industry hail from unexpected circles that would have previously not had access to such education.
Now in some ways, standing up for the Web-enabled Force as the most crucial force may be cheating, in a sense, and I’ll tell you why. Quite simply, the Web-enabled Force might be one of the most broad and expansive out of all the forces discussed in this book. It touches and layers over so many other forces, it’s hard to ignore its importance.
For most busy white collar professionals, the Web-enabled Force affects them on not just a regular basis, but on a minute-by-minute basis. So much of our lives are impacted by being connected to the Web, that when Internet connectivity is temporarily lost, we don’t know what to do with ourselves. In fact, I recently encountered some competitors at a nearby agency bemoaning the fact that access to the Web was finally being brought to their underground subway line. They had previously used this time to catch up on offline reading, listen to audiobooks, and ruminate about the day ahead. Once they were Web enabled during their subway ride, their entire process changed in a heartbeat. So Web enablement isn’t always a force for good – but it’s certainly a disruptive one.
From an organizational perspective, so much needs to be done to take advantage of it properly. For example, one has to understand that while face to face connections won’t go away anytime soon – there’s a biological component to that – distance collaboration tools such as Slack for communications, Box for file sharing, and Asana for task management need to be adopted by companies in order to stay competitive. The organization that doesn’t appreciate how employee expectations have changed, all because of the Web-enabled Force, is not likely to succeed in the long run.
At the same time, organizations are not talking enough about the negatives that our always-connected society bring along with them. For example, knowledge workers often don’t know when to “unplug” metaphorically speaking and use their intellect to create unique value for their customers and clients rather than to reactively check their work email account every 5 minutes.
Any discussion of the Web-enabled Force wouldn’t be complete without a discussion of social media, a form of communication that shouldn’t be underestimated. As a result of social media, we now have the ability to connect with people who we would have never had the ability to discover in previous generations. The Taipei-based entrepreneur looking to build the world’s first solar-powered hovercraft can now connect with a solar-obsessed investor – who’s also a hovercraft aficionado – located in Sao Paolo. The opportunities for this type of collaboration are endless.
Moreover, previously enterprises might not have gotten off of the ground because of being unable to find the right raw equipment or materials, or they could not be procured at the right price. Thanks to our Web-enabled society, that’s no longer the case for most of society. B2B ecommerce has largely been solved by platforms such as Alibaba, while marketplaces such as Craigslist are not just valuable for small businesses, but for classifieds-style listings, including dating ads. Speaking of dating, apps and websites as diverse as eHarmony, Tinder, Match, and many others have transformed the concept of dating and marriage across many strata of society.
I’m not going to be so bold as to say the Web-enabled Force has barely tapped its potential; far from it. There has been so much transformation in our society due to Web-enablement that it’s hard to believe its impact will only continue to grow over time. One thing is certain: it is hard to imagine a force that could have more of an overall impact to our society from a social, experiential, and professional perspective.
Jeremy Goldman, @jeremarketer
CEO and Founder of Firebrand Group, Author, and Keynote Speaker, Founder at Mosaic; Author at Going Social: Excite Customers, Generate Buzz, & Energize Your Brand with the Power of Social Media
Inc Magazine & The Next Web (TNW) columnist
As consumers can whip out their phones to get instant, on-demand access to products and services they want, we’re seeing a shift in thinking from ownership to access. It’s almost expected at this point. If your business can’t offer something to compete with this nearly frictionless effort, you’re vulnerable. When highlighted against the four disruptive forces (mobile, mindset, Internet related, emerging technologies), the collaborative economy hits all all four.
And while there is growing concern around sharing startups’ lack of regulation and aggressive global expansion, it hasn’t slowed the growth of the collaborative economy (especially behemoths like Uber and Airbnb), making it critical for established brands to understand consumer sentiment, learn their preferences and capitalize on these shifts now more than ever.
A three-pronged opportunity has emerged for large companies — but it isn’t necessary to pursue all three simultaneously; there may only be one strategy that suits each company. They can choose to compete on price, convenience or brand.
Price is fairly obvious, as financial savings is one of the top drivers of the collaborative economy with 82% of sharing transactions partially motivated by price. Established brands are well-positioned to offer greater value to providers in the collaborative economy, as traditional purchasers would use collaborative economy services for a 25% savings.
Convenience is another strong driver. To be able to pick up a device and get a service (or at least secure a service and view the length of waiting time and status of the request) appeals to the human need for immediate gratification. Convenience poses a major challenge to established companies, because it’s exactly where sharing startups have a structural advantage. However, convenience is a factor that established organizations can compete on, with value-added services that create efficiencies, on-demand access to products and services, mobile apps, and even the sale of locally-sourced and crafted products.
Having a trusted and well-known brand – even when competing with well-liked startups – is an advantage. There’s a close relationship between brand recognition and market dominance. Most people have heard of big collaborative economy players like eBay, Craigslist, Etsy, Uber and Kickstarter, and many of the top-sharing players have positive reputations. Yet more than 25% of would-be sharers will consider traditional buying if it means doing business with a reputable brand. The role of brand in the collaborative economy presents an opportunity for large companies to take advantage by marketing on trust or partnering with sharing services to leverage their brand.
Scott Monty @scottmonty
Scott Monty is the CEO and co-managing partner of Brain+Trust Partners, a strategy consultancy firm specializing in digital transformation, technology selection and executive advising. He speaks to groups about the fundamentals of the human condition that are relevant to business today.
Scott spent six years at Ford Motor Company, as a strategic advisor on crisis communications, influencer relations, digital customer service, innovative product launches and more. He also has a decade of experience in communications and marketing agencies, where he had clients that included IBM Healthcare and Life Sciences, Coca-Cola, American Airlines, T-Mobile, GE Software and more.
He is a board member of the American Marketing Association and an advisor for RPM Ventures, My Dealer Service, Crowd Companies and Clever Girls Collective. He writes about the changing landscape of business, technology, communications, marketing and leadership at ScottMonty.com, where he distributes the widely acclaimed Week in Digital newsletter, and is the executive editor and co-host of the Sherlock Holmes website and podcast I Hear of Sherlock Everywhere.
Yu and Orlando are the co-leaders of the Meaningfulness Movement. This dialogue was one of their many discussions that led to start of the movement.
Orlando: Our search for meaning is not a luxury but a duty. For me, meaning is the substance of our joy and the expression of our power. We experience our humanity through meaning. We are the creator and inventor of our meaning; it’s a free choice, not an accident.
Yu: You are spot on about the essence of meaningfulness. We are the creator of our inner and outer worlds. Meaningfulness starts from the moment that we truly recognise the power within us and commit to take full responsibility for our life.
I’m struck by the fact that so many people are disengaged at work and feel unfulfilled in their lives. The crisis of meaning is spreading fast in our modern western society when we seem to have more freedom to define meanings than our ancestors. But why? I think one of the reasons is because we— as a society—have lost the ability to tap into the power of practical wisdom, which was one of the main functions of ancient philosophy.
O: Until the middle of the nineteenth century, philosophy was meant to help us. But then it deserted us. Philosophy no longer integrates knowledge and wisdom, and it’s become the servant of science and logic. Contemporary philosophers are busy writing articles aimed solely at academia. That exercise, however, lacks the power to offer any help toward the crisis.
Y: The failure of contemporary philosophy has prompted individuals to take more responsibilities for themselves: to think deeply and critically about their lives. We acquire wisdom through self-inquiry, through vigorous practice, through expansion of our awareness, through our intentions. That’s the ultimate source of meaningfulness. Earlier on we talked about the importance of recognition of our true power to create meanings. How do we start?
O: That depends on who we are and where we are at. One possibility is to find something that has meaning now, or that used to have meaning, and then ask the question of how it has or had meaning.
Not why, but how! Meaning is not a thing or object; it’s a process and a flow. The important thing is not to ask typical questions to “analyse” it, but to try to catch our mind in the process of creating. That’s the first step.
Y: The question of “how” is often overlooked. Some people assume that meaning is somehow hidden, and if we are lucky, it might show up and talk to us. However, if we look very carefully, and trace back to where the meaning was started, clearly it’s not from anywhere else: we are the creator of that meaning. So “how” is the first step to understand the way in which we make meaning, and to realise from our first-hand experience that we as individuals create meaning, no one else. With just this simple realisation, I believe we can create a big shift in many aspects of our lives.
O: Agree. I want to stress the point that meaning is a process. We need to “catch” the mind at the beginning of its creation, and be fully conscious of its dynamism and flow. Meaning is also about taking responsibility and learning how to do it better with greater sense of deliberation. It’s not just being mindful, much more than that.
Y: Interesting that you mention about mindfulness! Mindfulness is about the expansion of our awareness. There is this misperception that “being aware” is enough. Well, I disagree. “Being aware” is just the starting point, and it doesn’t lead to change automatically; only when reflective awareness also takes place and we consciously make the choice to take action, then we see the real shift occurring. I think that’s the power of meaningfulness: it’s a complete process to truly express our creativity.
O: Yes! That’s a crucial point: meaningfulness is about creativity. It is not just observation, but also doing, changing, improving with enthusiasm and joy.
Y: By no means is this an easy process. It requires tremendous patience, enthusiasm and consistent practise. I remember we talked in length about developing practical tools to help people in this process. I know you have been working on creating a meditation practise lately.
O: Meditation has become such a buzzword; it’s everywhere, but lots of people only understand it on a superficial level. Meditation is a state of consciousness. There is no better or worse form of meditation. In fact, every moment of our existence is an opportunity to become aware of the fact that we are in a meditative state. The skill of meditation is to direct the power of the mind in a chosen direction, or an object, or a condition.
“Meaningfulness Meditation” is a guided meditation with seven steps. It is designed to help people to enter into a meditative state by concentrating on meaning through the process of thought construction. By tapping into the power of the mind while in a state of concentration, insights and wisdom emerge, and it’s a very empowering experience.
Yu Du and Orlando Fernando started the Meaningfulness Movement to create a community with a mission: to create and live meaningful lives. They plan to grow the community through discussions, workshops, events, retreats, tears, laughter, silence and much more.