Hello and welcome back to the Dr. Nilda Business Foresight Show. Today I have with me my co-host Rachel Calderon.
Hello everyone. How are you.
Today we’re going to talk about a shift that we’re making in the show. I know we’ve been talking a lot about innovation and a lot of the people that we brought on are doing really remarkable things. Very innovative and very creative. However now we’re going to be bringing you a host of futurist. I’m always talking about foresight strategies and that I’m always talking about the future. Well what we’re doing now in the show is that we have been so blessed to speak to a very large group and right now I think we have, Rachel would it be like maybe 14 futurists.
Probably about 14 or maybe a little bit more than that at this point because they’re kind of coming in quickly.
The beauty is that these futurists are coming from all different backgrounds. The idea of this is to help you understand, not only understand foresight and futuring but also understand how this plays an impact in your particular industry. So, they’re coming from education. They’re coming from all different fields.
Different disciplines as you’ve stated in the past.
They’re coming from an array of disciplines and the beauty of this is that there has to be one of these Disciplines, one of these industries, one of these careers that you’re either involved in or are looking to get involved in. So, you’re going to get like a plethora of information and you’re just going to really enjoy it because these are really down-to-earth but very intelligent people. Rachel can you tell us some of the people that were looking to talk to? Rachel has been talking to the people directly. Tell me where they coming from?
Well we have people coming in from the Middle East. We also have people that are from Paris, UK, Australia. Then we have people of course around the United States which is California, Texas, etc. They’re all over so, we are excited. We’ll be giving you some names a little later on. But Nilda continue.
This is really exciting because here’s the idea the intention of the program from the very beginning was to bring new information so that you can learn things and discover for yourself. What is your position? How can you be more creative? How can you be more innovative? How can you actually position your business? That at the end of the day is the idea your business and your career. Last year I was really blessed to be able to speak in so many different arenas. The most exciting one for me was when I spoke at a stem conference and that stem conference I’m speaking to people that are doing innovative things in the areas of science, technology, engineering and math. I was thrilled to be able to couple that with futuring.
Exactly and the thing is that both stem and futuring really should be put together and oftentimes they don’t. And we’re finding that why not because this is just amazing. It’s amazing we have a tremendous lineup this year. Things are just happening quicker than fast for us. We’re just kind of going with this wave that we’ve got coming up.
We’re really looking forward to this. So, what I want to do today is I want to talk to you a little bit about certain things that you’re going to be hearing from the futurist. What I want to do with this show is to be able to I’ll give you the heads up so that when they’re talking about it you’ll know what they’re saying. And it wouldn’t be a language that’s foreign to you. It’s not that it’s complicated but it’s probably stuff that you’ve never heard before so this is where I want to start. The reality is that there’s nothing like being in the right place at the right time. This is a mere luck of the draw and in these uncertain times that’s a huge chance to take waiting for that chance of being in the right place at the right time. It is way too risky especially today when things are changing so quickly. Despite these uncertainties I know that you can actually ensure that you design your desired future. That is something that you could actually do. But, this is not a wish or a hope you have to have well-informed strategies to be able to develop that desired future. You do this by acknowledging your past or being very well aware of your present and making sound decisions for the future. When you do these things you kind of braid them together and it really is almost impossible to fail. You’re going to hear from many of our guests a lot of things about trends. I know I’ve been talking to you about trends but there’s going to be a catch phrase that they use a lot and that’s trend spot. Trend spotting is about observing patterns, tendencies and the direction of the change that industry is taking. We know that today it doesn’t really matter what industry there’s so many changes happening no matter what industry you’re in. So, it’s about spotting those trends in the industry. You want to also spot consumer trends. How are consumers purchasing now that they weren’t before? You see when you start spotting these things and you start spotting these trends you’re also spotting opportunities for your business. Trend spotting is a multi-method research and it’s something that when you start looking at this you start customizing them to your client’s needs. You start focusing on the industry and in the area that the client desires to understand where they want to be able to come more to you and what they want to be able to purchase from you.
The idea here is to reveal what is fresh new and cutting edge in that selected area or industry. It is applying the trends and the insights to your own business to make it grow, stand out and become that go-to person. By understanding the shifts in the wider context and the environment it is the interrelations with consumer behavior and ultimately, it’s understanding how consumers feel about these.
The thing is Rachel that smart companies they’re spending a lot of money on research and development and you know this as a marketer. They’re spending a lot of time to ensure that their offerings are up to date but they ‘re not sure if these are really lucrative. They’re just spending the time and they’re spending the money on research and design but they don’t really understand what does the customer really want? What are the changing shifts and when are they going to abandon ship and go on to the next thing? Traditionally the practice has always been that the work is quantitative which means it is quantitative and qualitative. They looked at the research based on numbers or based on social. This is how most research is done but the reality is that this is not really working anymore. And of course, forecasting and analyzing looks at these trends and looks at new trends of how people are doing things now. So, everything is really not a mathematical. When it breaks down it’s not all mathematical. We have to look at the social end of it. There are only a handful of companies that are actually looking at forecasting or looking at the future and those are very few companies.
Let me give you an example, automobile manufacturers. You see when we get a car it’s already outdated for them because their futurists. They’ve already looked at the makes and the models. They’re decades ahead of us. I mean seriously who would have thought that when we get what’s called a brand-new car fresh off the lot 2018 it’s already ancient for them because they’re working on several years away.
Another industry that does this really well is the fashion designers. They’re forecasting and predicting what they’re going to wear five ten six seasons out. So, when we get the fashion that we think is the latest of the greatest they’re way ahead of that. And they have to be because the idea in both the automobile and the fashion is that there has to be change all the time. So, they’ve embraced forecasting. They’ve embraced futuring. They’ve embraced this in a way where they understand that to be current they have to be ahead so they know this. The idea is that we have to learn how to do this in our industries no matter what it is. We want to know what is new in the emergence and the widespread adoption of trend spotting? We want to know what is inside of our organizations that can change? What’s out of our organization’s the environment? I’ve talked a lot about steep social technological environmental economic political. Those are all areas that affect our businesses. So, we want to know what are these things that are going to affect us? Because companies such as Walmart, Campbell Soup, Legos and Marks & Spencer they’re using trend forecasting as part of their innovation process. By doing this they’re so many years ahead. They’re leap years ahead. They’re innovative and they’re coming out with things that are actually cutting edge. That’s the beauty of forecasting. That’s the beauty of trend spotting.
The key here is to anticipate new opportunities but it is also essential to avoid potential threats. Which is what most of us don’t really focus on. We focus on all the opportunities but what are threats? What could really like almost knock us off our feet in our businesses basically? Here is why trend spotting is actually really important. It’s a multi method research customized to our client’s needs and it’s focused in the industry and areas that the client desires to understand the latest customer trends.
That’s it so the outcome is to review what’s fresh and what’s new in the selected area that you’re researching. It also gives leads on how to apply trends and insights in your own business. People that are doing this are actually disrupting the norm and they’re actually cutting right through what everybody else is doing. Amazon eight years ago was nothing. I know I’ve said this before but you don’t realize the ability that you have. The blessing that you have to be able once you have this once you understand about for forecasting once you understand the importance of it you can actually look out 15 25 30 years and be in that same area that the automobile industry and fashion is in. That companies like Amazon is in. There’s a constant evolution of change. It is not like this huge change for no purpose like oh we need to be different so we have to change. But their change that is actually being researched that they know exactly what they’re doing. So, that’s what trend spotting is.
And that’s why it’s important to be a trend spotter. I’m going to say trend spotter because you are searching for new ways that is ensuring that you don’t become the victim of that change.
Trend spotting is going to be something that you’re going to hear over and over again from many of the futurist. Another phrase that you’re going to hear quite often is going to be scenario planning. Sometimes you’re going to hear it called scenarios. Sometimes you’re going to hear it as contingency planning. But what it means is scenario planning. So, I wanted to find out for you. Scenario planning or contingency planning or scenarios is a structured way for organizations to think about the future. They’re looking at the future in a very structured way. They’re taking those trends that we talked about with trend spotting. They find the trends and then they start designing scenarios. In scenario planning what you do is that you gather your staff and you begin to develop a small number of scenarios. The recommendation is typically four. So, you come up with four scenarios or four stories on how the future might unfold based on the information that you have. This is how you might affect the issue that confronts them. Like how would you confront them if you know that this is a probability a possibility but you’re doing this with information that you already have. It’s typically four scenarios. For the four scenarios, what you do is that you start breaking it down and you’re like you know what this is not so probable. So, you’re going to set that aside and then at the end you decide on two scenarios. Therefore, those two scenarios you can either use them both or you can pull from each and you could start creating that desired future. These are some of the phrases that you’re going to be hearing from some of our amazing guests. I want to go back to Rachel. Rachel, I want you to tell the audience who are some of these guests? What is their background? What do they do?
Yes, I am excited as much as Dr. Nilda is. Some of these futurists that we have lined up here are members of the Association of Professional Futurists. If you guys do not know what that is please google that because it is amazing. The people that are lined up are just amazing. One we have is Jim Lee. What is amazing about Jim Lee is that he is a forecaster of investments and real estate. Anyone who’s in real estate this is a must watch show because we have been talking to him and its interesting how real estate has been shifting. Who would have thought real estate shifting but yes, it is shifting and it is amazing where it’s kind of going? We also have Joyce Joya who is a celebrity futurist. We have Anne Boysen who’s going to be talking about the future of transportation. So, you see we don’t have people just in one industry we have people from an array. We have Dr. Hamad who is a scenario planner. We also have Alethia from Mexico she actually does scenario planning through theater. I was blown away because knowing my daughter who loves the theatres it is incredible how this woman has put theater and futuring and married the two. It is incredible. We also have Natalie Nixon who is a fashion futurist. Again, we have an array of people from all sorts of disciplines and I am excited. That is just to name a few.
There are so many. We have 14 confirmed but of course we have to confirm dates. The beauty is Rachel how excited are they? How excited are the futurists?
They’re excited because number one this is going to be the first time that we have a platform where they can actually express to our audience and the general public about futuring and how important it is. Okay let me just give you a quick example when we purchase insurance we’re planning our future. So, this goes even deeper imagine that. Think about it. I’m like just as excited as they are as Dr. Nilda is. Really being the producer of the show, this has just been too much fun for me to put this all together and just see how we’re all just so excited. Just to let you know that if you want to find out more information you guys should be signing up at https://www.drnildaperez.com/newsletter. We’re not only going to be giving you every single month the first of the month without fail we have a team working on this. This is another exciting thing for 2018 for us is we’re going to have our newsletter going out every single month. We’re going to have case studies. We have some article writers who are going to be on there. We also are going to be featuring our guests of the month plus those in the past. So, this is amazing guys you have to sign up again that is https://www.drnildaperez.com/newsletter. Go right now as we’re on the show please. It is important.
We’ve been working on this for a few months and we’ve had amazing response from many futurists. If you’re not in the futuring world I don’t think you will understand the caliber of people that we have. But once you listen in and once you listen in to the areas especially the areas that are important to you are going to be blown away. When you hear how they’ve been able to forecast the future the benefits of forecasting the future and the things that they’re doing as a result of the information. At the end of the day that’s what it’s about. Again, I’m excited I cannot wait. 2018 is going to be an amazing year. We’ve already booked people I think through the end of April and yes, they keep coming so I look forward to having you listen in on the show. I want you to really get something out of this because these are really phenomenal people that are going to pretty much change your life. Thank you so much for being here we will talk to you again next week. Next week we will come with our guests. Our guest next week will be Jim Lee so until then I will see you guys and I look forward to more of a dialogue and to have you guys participate more in the show. Okay bye.
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