The Visionary Chronicles

Ford's EV Vision Failure | Ford's Execution Failure on Electric Vehicles

CHRONICLE 165     
The Visionary Chronicles Podcast
CHRONICLE: August 14th, 2024
 
Ford's EV Vision Failure | Ford's Execution Failure on Electric Vehicles
"Whether you think you can, or you think you can't – either way, you're right." – Henry Ford
 
Dive into an engaging discussion on Ford's electric vehicle vision and its execution failures. Explore the missteps, cultural challenges, and leadership issues that hindered their success. Share your thoughts and subscribe for more insights!
 
CHRONICLE SEGMENTS
00:00 Introduction
00:11 Vision Failure
01:08 Industry Titans
02:16 Culture Challenges
03:15 Ford's Journey
04:32 Market Factors
05:39 Competitive Strategies
06:52 Vision vs Execution
07:21 Founded by Visionary
09:35 Tesla's Strategy
11:21 Learning from Failure
14:17 Early Initiatives
19:21 Leadership Missteps
21:04 Competitive Weaknesses
23:37 Organizational Challenges
27:17 Execution Failure
29:56 Production Delays
34:35 Conclusion
 
Explore Ford's missteps in the EV market and learn valuable business lessons. Discussing industry challenges, leadership, and market strategies.

The Visionary Brand | The New Age | Be Distinct or Become Extinct

CHRONICLE 164     
The Visionary Chronicles Podcast
CHRONICLE: August 8th, 2024
 
The Visionary Brand | The New Age | Be Distinct or Become Extinct
 
                                                            "Distinct or extinct." – Tom Peters
 
Discover the success behind visionary brands! Learn how adapting and evolving is crucial in today's new age. Join us for insights and strategies from top brands. Comment and share!
 
CHRONICLE SEGMENTS
00:00 Introduction
00:46 Success Formula
01:15 Be Distinct
02:26 Product Evolution
07:38 Great Brands
12:18 Survival Instinct
19:12 Disruptive Revolution
18:07 Value Beyond Product
25:21 Closing Thoughts
 
Learn the secrets behind visionary brands and how adapting and evolving can ensure business success. Watch for expert insights and strategies.

Leadership Life Balance | Finding Your Life Balance

CHRONICLE 163
 
THE VISIONARY CHRONICLES
 Leadership Balance | Finding Your Life Balance
 
Hey there! 🌟 Get ready to dive into leadership like never before. In this episode of the Visionary Chronicles, we explore the crucial balance between leadership and life. Whether you're managing a business or just trying to find harmony in your daily hustle, our insights and real-world strategies will help you lead effectively both at work and home. Join the conversation, learn from our experiences, and let's find that perfect balance together! Share this journey with your friends. 🚀🌍
 
CHRONICLE SEGMENTS
00:00 Introduction
00:42 Importance of Balance
01:35 Confucius Quote
02:15 Balance Discussion
03:20 Leadership Challenges
05:07 Finding Focus
06:13 Consistent Planning
07:09 Leadership Priorities
16:42 Ongoing Process
18:06 Conclusion
 
Bryan Smeltzer is a bestselling author, business executive, and entrepreneur. He has held executive leadership positions in brand business development, multi-category product development, and global marketing at major brands like Oakley, TaylorMade, Adidas, K-Swiss, Schutt Sports, and other international companies.
Bryan also founded a men's apparel brand and successfully ran it for ten years before selling it to a venture capital firm.
The Visionary Chronicles Podcast
Bryan hosts The Visionary Chronicles podcast, which Feedspot has ranked as the #1 Visionary and one of the Top 50 Marketing Podcasts.
The Visionary Brand
Bryan is the author of the bestselling book The Visionary Brand,The Success Formula Behind the World’s Most Visionary Brands. The book received the prestigious Readers Favorite Award for Best Non-fiction in the Marketing Genre.
The Visionary Files
Following the release of his book, Bryan launched The Visionary Brand MasterCourse. Available at TheVisionaryFiles.com, this course features 18 video learning segments, totaling nearly two hours of training aimed at unleashing brand leadership potential.
LiquidMind
Bryan is at the helm of LiquidMind Inc., a global brand strategy firm that collaborates with start-ups and established mid to large-cap consumer brands. The company empowers businesses to think and act differently, cultivate passionate cultures, and execute strategies with relentless precision.
Sessions
At LiquidMind offers bespoke Sessions One 2 One Advisory Services, providing personalized brand guidance through direct sessions with expert strategists. This service is ideal for launching new products or repositioning brands.
 
Sign up for a FREE Advisory SESSION | https://liquidmindsite.com/services/
 
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Visit Bryan’s BLOG Site | https://bryansmeltzer.com/thoughts/
 
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LinkedIn: com/in/bryansmeltzer/
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Contact Bryan |
Email: bryan@LiquidMindsite.com
 

Digital Retail Revolution | How Visionary Brands are Building the E-Comm Landscape

CHRONICLE 162
CHRONICLE: July 23rd, 2024
Digital Retail Revolution | How Visionary Brands are Building the New E-comm Landscape
 
"In a crowded marketplace, fitting in is a failure. In a busy marketplace, not standing out is the same as being invisible."
                                                                                                                                                                                                                      Seth Godin
Welcome to The Visionary Chronicles. Today, we're diving into the future of e-commerce. We'll look at how Visionary, a leading-edge brand, is adopting emerging technologies to reshape online retail and the evolution of new digital-age consumers.
E-commerce has seen explosive growth, accelerated by the global pandemic. In 2023, global e-commerce sales hit $6.3 trillion, projected to reach $8.1 trillion by 2026. This isn't just growth; it's a seismic shift in how we shop and do business.
Let's start with the tech transforming online shopping to understand the opportunity. Currently, augmented and virtual reality are creating immersive buying experiences. Imagine virtually trying on clothes or visualizing furniture in your home before buying. Companies like IKEA and Warby Parker already use AR to boost sales and reduce returns.
Voice Language Processing (VLP) through Voice commerce is another game-changer. With smart speakers in millions of homes, voice shopping is set to hit $80 billion annually by 2023. Alexa, order more coffee pods!
Another rapidly growing technology is AI and machine learning, which are personalizing the shopping experience like never before. They predict what you want before you know you want it, and Netflix video or Nike style recommendations are becoming the norm across e-commerce.
Blockchain is also enhancing security and transparency. It's not just for crypto anymore. Walmart uses blockchain to trace food from farm to shelf, boosting consumer trust.
Also, let's talk about changing consumer behaviors. Mobile is now king. Over 70% of e-commerce sales now happen on smartphones. If your site is mobile-optimized, you're gaining customers. Simple to do, not everyone does it! Just Do it!
Sustainability is no longer optional. 65% of consumers want to buy from purpose-driven brands that advocate sustainability. This applies to products, packaging, shipping, and corporate practices. To gain an edge beyond product, build a sustainability story into your brand.
Social commerce is also booming. Platforms like Facebook, Instagram, and TikTok are becoming virtual malls. Live shopping events, popularized in China, are gaining traction globally. These are brand strategies that, if adopted and authentically managed, can build both revenue and brand equity over time.
Vertical buying journey. Consumers now expect seamless omnichannel experiences. They might research on mobile, buy on desktop, and pick up in-store. Brands that can't offer this flexibility are falling behind.
So, what does this mean for brands or entrepreneurs? It's a world of challenge and opportunity. You need to stay agile, embracing new technologies and platforms. But you don't need to do everything. Find your niche. Maybe you focus on sustainability, or perhaps you excel at creating AR experiences.
The key is to know your customer. Use data to understand their preferences and behaviors. Personalization is no longer a luxury; it's an expectation.
Avoid trying to compete with Amazon on logistics. Instead, compete on experience, on curation, on community. Build relationships with your customers that go beyond transactions.
Looking ahead, what can we expect? The lines between physical and digital retail will continue to blur. We'll see more experiential retail, where stores become showrooms and fulfillment centers for online orders.
Cryptocurrency payments will become more mainstream, offering new ways to transact globally.
The metaverse presents intriguing possibilities. Virtual storefronts in shared digital spaces could revolutionize how we discover and interact with products.
To wrap up, here are three key takeaways:
Embrace technology, but always in service of enhancing the customer experience.
Focus on building relationships and community around your brand.
Stay agile and ready to adapt to new platforms and consumer preferences.
The future of e-commerce is exciting and full of potential. It's not just about selling products online anymore; it's about creating digital experiences that delight and engage customers.
That's all for this episode of The Visionary Chronicles. If you found this valuable, please share it with a fellow entrepreneur. And remember to subscribe for more insights on the future of business.
Until next time, keep innovating and stay visionary.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024

The Visionary Brand | The UX | User Engagement Strategies

EPISODE 161           
CHRONICLE: July 10th, 2024
 
Content from Bryan’s new Award Winning, Bestselling Book
The Visionary Brand, The Success Formula Behind the World's Most Visionary Brands.
Readers Favorite Award Winner, Best, Non-Fiction, Marketing Genre Business book
Amazon Bestseller
 
The Visionary Brand | The UX | User Engagement Strategies
"Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn't really do it, they just saw something. It seemed obvious to them after a while. That's because they were able to connect experiences they've had and synthesize new things.” – Steve Jobs
 
THE UX | ENGAGEMENT
User engagement must happen early and frequently as you provide value to your current or potential customers. Of course, value can take several forms and functions. Most powerfully, it can be offered through personalization, which bonds the customer to your brand lifestyle as we saw in the previous podcasts. Everyone wants to feel wanted and understood, no matter what you sell. The closer you can match an experience to individual needs, the closer you come to building a relationship with the customer, eventually turning them into a brand advocate (part of the community) or ambassador (part of the brand).
Engaging with current customers within the Loyalty Loop and securing new consumers is a delicate balance for brands. Visionary brands use a clearly defined UX and engagement strategy to balance value with acquisition effectively. The value proposition can cross over to the acquisition side, but its approach is much different as it matches lifestyle enhancement versus price point compression.
Once a customer has joined the brand community, they will adapt to the brand’s product life cycles and choose either early adopter or late adopter product acquisition timing. A brand’s ability to know where their customers are on the adoption curve will tip the marketing investment scales relative to messaging, personalization, and social engagement, in addition to Lifetime Customer Value (LTV).
This is a fine art, and being able to read demographic profiles, engage with personalization, and consistently message lifestyle improvements through the adoption cycle will help you attain a loyal base of brand advocates. These advocates are the ones who allow you to control your brand’s destiny . . . but it wasn’t always so easy.
Before direct-to-consumer (DTC) channel opportunities, brands would only engage through one-way external communications such as; mailers, flyers, unsolicited e-mails, etc.—none of which allows for the kind of personalization that can be realized today. This world is much different now, where brands are in the driver’s seat. This is an essential shift in our culture, as brands want to control their engagement across all channels (ref. the Omni-Channel podcast). In maintaining their destiny, they can better define all aspects of the purchase loop, marketing, product cycles, engagement platforms, and direct communications.
Of course, you must know how to drive through this shift! Even as your brand is more equipped to secure its own future, there is also the need to understand the intricacies of building, developing, and growing brand awareness and equity. With time, this is relatively easy and inexpensive, though you will now find more tools to fine-tune your engine. The digital world we live in waits for no one, so either jump in and start driving or run the risk of getting run over.
Engage with your current customers, stay true to your brand foundation, and build trust and loyalty while advocating the virtues of your products. These current advocates are your company’s most valuable asset, and will assist with acquiring new members into your community. They can be measured, they can be engaged, they can be activated . . . or they can be ignored. Ensure you do not ignore—always engage, always provide value beyond product, and you will be rewarded with a mutually beneficial relationship.
 
“Take care of your customers and they will take care of you.”
 
THE UX | EMPATHIZE
Understanding and empathizing with your customers brings a personal touch to your creations. Empathy is understanding your consumers’ world, perceptions, and values and providing products or solutions that enhance their lifestyle, either through better products or processes.
This personal touch perspective reflects the simple sophistication principle we discussed earlier, bringing your vision of a better way to life—simplicity in the product design, The
sophistication in how it makes your world better. Visionary brands find this both challenging and enlightening, as it makes you leave your comfort zone and move into the reality of the solution you want. It drives ongoing passion for the product and how it will improve one’s life by saving time, improving relationships, or being more efficient or effective. Whatever the motive, creating this product is a labor of love for the brand team.
In defining what creates an attribute worthy of providing empathy for its end user, brands will ask:
 
Is this a solution looking for a problem, or a problem looking for a solution?
 
As simple as this question sounds, many brands have yet to ask it and ventured forward, blinded by their short-sightedness.
Finding solutions to everyday problems is an easier path to success, as it can be translated more effectively and realized quicker by end users. The beauty of finding a solution is found in its application in the real world, where the idea becomes reality. In creating solutions, there is a way to connect the community to the brand and eventually to a product ecosystem fully integrated with their daily life. This drive to join the ecosystem is driven by empathy, as the customer is looking for solutions that are not yet reality but are opportunities to simplify their life.
Throughout The Visionary Brand, we have discussed these vertical brand touchpoints. The more interconnected they become, the more diverse the ecosystem becomes to satisfy the needs of many while personalizing the experience for each. Empathy may seem intangible, but the more tangible a brand makes this connection, the more it finds how much its products have impacted individuals, families, and communities across its community.
Empathy is intuition about when something suits the brand and can genuinely impact a person’s life. When you give a person the ability to spend more time at home with the family or a loved one, this value becomes tangible. Visionary brands understand the impact of this tangible value, and ultimately, revenue growth follows. Visionary brands think beyond products; they value the solutions their products provide for their community.
Ultimately, building a visionary-quality UX is about putting together building blocks to form a complex structure for engaging and interacting with your consumers. From the idea through to purchase, you’re shooting for a seamless execution of a brand that knows the wants and needs of its customers better than they know themselves.
Understand your customers. Empathy for improving their lives will help you find solutions to give them what they currently do not have—more time, family, money, and life. Let this empathy fuel your brand’s interactions and product pipeline. This will make you visionary in your customers’ eyes and make your brand a valuable part of their everyday lives.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024
 

Competitive Edge | Forging a Path to Market Domination

EPISODE 160           
CHRONICLE: July 3rd, 2024
 
Competitive Edge | Forging a Path to Market Domination
 
"Know your enemy and know yourself, and you can fight a hundred battles without disaster."
                                                                                                         Sun Tzu, The Art of War
 
The Forces of Competition, which determine strategic planning and marketplace execution, are shared among all industries. Those who can anticipate both industry and competitive moves will succeed for generations.
Anticipation is the "Art of War," and brands who fight and win the battle without having pulled a sword are the ones who have mastered the "Art of Competition." But unfortunately, many have gone to war and have shown nothing for their efforts; a strategy built on a foundation of brute force inevitably fails.
Find a way to determine outcomes before they are fought, and you will build a team and a brand set on a solid foundation, a fortress others cannot enter. Creating a culture where everyone knows their role, works together to ensure the foundation stands, and others envy what you have made and want to know your future Vision. The best they can hope for is to follow your path but never lead.
 
There are several forces brands must be aware of to execute The Art of Competition in the marketplace.
 
New Blood
With this scenario, new blood is the latest entry into your category, one who has a new idea and provides a potentially better service or product.
Combatting this competitor takes anticipation, an innovation process, and the ability to never look over your shoulder. Each of these allows a brand to advance with its Vision while ensuring this new blood is blocked or eliminated from establishing a beachhead without doing anything different. Changing course is not an option, but pivoting without disrupting your business is critical.
 
Scale
The scale was a strategy many were caught off guard by during the pandemic, and most were unable to recover in whole or in part.
However, the winning formula is to attain sufficient scale with a manufacturing matrix with the core competencies needed to produce a consistently excellent product and out-innovating yourself first.
 
Community
Loyalty, recurring revenue, and value creation are foundational to longevity. These pieces of your foundation will create a wall no competitor can climb.
This takes consistency, an understanding of who your customer is, what they value, and why they buy your products and is a strategic weapon built off your team's shoulders.
 
Commodity Players
The Imitators, not the Innovators, are the commodity players. They are not to be feared; instead, they are the ones to be called out and challenged at every turn.
Imitators churn great Ideas into inferior-quality products and lower-tier price points. As a result, they do not build a trusting, loyal community that embraces the value provided by the brand but rather a following looking for the next significant "draw-down."
Some have been successful with this strategy, but this is like building your foundation on the sand vs. rock. YOUR CHOICE.
 
Rivals
The most threatening part of a brand executing its future Vision is its direct Rival, those who have authentically built a loyal community, created their innovation pipeline, and stayed true to their foundation.
They are to be respected, but the Art of War principles are genuinely beneficial and provide the most benefit. You want to anticipate the moves of your Rivals,  find ways to outflank them, diminish their impact, and put the fires out before they start.
The Art of War is winning without having gone to battle. So what can you do to anticipate your Rival's next move and step out and take risks, never to relinquish your lead?
 
The Art of Competition is understanding the landscape, anticipating your Rival's moves, outflanking your Competition, and finding ways to win the battles through a strategy where you never have to draw your weapon! Find a way to win!
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024

Fail Faster | How Failing Can Lead to Success

EPISODE 159
CHRONICLE | June 26th, 2024
 
Fail Faster | How Failing Fast Can Lead to Success
 
"My great concern is not whether you have failed but whether you are content with your failure."
                                                                                 Wisdom from Abraham Lincoln
 
Failure is not fatal, but if you do not embrace Failure and make it a part of your Culture, it can prevent you from realizing your Vision.
Many companies profess to be "Innovative" yet squash any new out-of-the-box thinking that disrupts the company's status quo and your business category. Therefore, it is crucial to embrace your failures, learn from them, and adapt to move your IDEAs from paper to people.
Commercializing your IDEA is the inevitable goal, but if the product you envisioned does not match reality, there will be issues with your community and the brand itself. If you are to be a leader, you must embrace Failure and Risk to create what others may not have thought of or felt was impossible. Otherwise, you are truly just a commodity. Having the courage to do what is right for the brand is what all Visionaries have in common. Beyond product, beyond Culture, is sticking to your Foundational Principles, which drive your brand forward.
The brands that continually drive innovation embrace Failure as a learning experience and will be the ones to survive any storm. Look at history, and you will see brands that have failed and those who are still with us today. A common thread, stronger than steel, is the will to create what others said was impossible. This challenge brings out the passionate courage in all Visionaries and the satisfaction of proving others wrong. 
Remember Edison's famous quote when inventing the light bulb.
 
"I have not failed. I've just found 10,000 ways that won't work…."
 
Imagine if Edison had given up at so-called "Failure" on try 9,998? A different world than the one we live in today. I am thankful for his vision and perseverance in not giving up!
What are these Failure Stepping Stones to eventual Success?
Take Risks | No great product has ever been realized without Risk.
Embrace Risks | Different than taking risks, embracing Risk is part of your Culture.
Fail Faster | Assume Failure will happen and that it is necessary to create truly revolutionary products.
Succeed Sooner | By Embracing Risk and Failure, you are on a path to Success.
Failure is inevitable when creating anything significant! So embrace Failure and Risk and be rewarded with generational products and a culture committed to Success.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
 
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024
 

Generative AI | How Can Companies Successfully Integrate Artificial Intelligence

EPISODE 158
CHRONICLE: June17th , 2024
 
Generative AI | How Companies Can Successfully Integrate Artificial Intelligence
 
" Common sense is not so common.” – Voltaire
 
With all the madness around AI, having a clear, definitive plan in place is critical to long-term success; however, you must know the “Who?”, “What?”, “Why?, “When?” and “Where?” with your plan and execution. Before implementing, define the needs, determine resources, outline expectations, and determine the execution timeline.
Visionary brands can leverage Generative Artificial Intelligence (AI) to enhance the brand lifecycle execution process from ideation and product creation, marketing execution, development, sourcing, and operations, and gain a competitive edge.
Here are some ways in which Generative AI can be utilized.
 
Product and Service Innovation | Use generative AI to brainstorm and generate ideas for new products and services. AI models can analyze market trends, consumer preferences, and industry data to suggest innovative concepts. This can accelerate the ideation process and lead to the development of more innovative products.
 
Content Creation | Deploy generative AI for content creation, including writing articles, generating marketing copy, or creating social media posts. Language models can assist in producing high-quality, engaging content, saving time and resources for the business.
 
Personalized Customer Experiences | Implement AI-driven personalization in customer interactions. Generative models can analyze customer data to create personalized recommendations, messages, and experiences, enhancing customer satisfaction and engagement.
 
Automated Customer Support | Integrate generative AI into customer support systems to provide automated responses to common queries. This improves customer service efficiency, allowing team members to focus on complex issues while AI handles routine inquiries.
 
Supply Chain Optimization | Use generative AI to optimize supply chain processes. Predictive modeling can help in demand forecasting, inventory management, and logistics optimization, ensuring a more efficient and cost-effective supply chain.
 
Decision Support | Leverage generative AI for decision support systems. These systems can analyze large datasets, market trends, and various factors to assist brands in making well-informed, data-driven decisions.
 
Design and Creativity | Apply generative AI in design processes for graphic design, product design, or architecture. AI can assist in generating creative ideas, designs, and prototypes, enhancing the overall creative process.
 
Learning and Development | Use generative AI for employee training and development. AI-driven systems can create customized training modules, simulate real-world scenarios, and provide personalized learning experiences based on individual employee needs.
 
Predictive Analytics | Implement generative AI for predictive analytics. These models can analyze historical data to predict future trends, market changes, and potential risks, enabling brands to adjust strategies proactively.
 
Human Resources | Utilize generative AI in recruitment processes for resume screening, candidate matching, and even conducting initial interviews. This can streamline the hiring process and efficiently identify the most suitable candidates.
 
Cybersecurity | Enhance cybersecurity measures by using generative AI to detect and respond to potential threats. AI can analyze patterns in network traffic, identify anomalies, and predict and prevent security breaches.
 
Simulation and Scenario Planning | Use generative AI for simulating and planning various business scenarios. This can help brands test the resilience of their strategies and make informed decisions in anticipation of different outcomes.
 
Generative AI is a powerful tool, however when implementing generative AI in business, it's crucial to consider ethical considerations, data privacy, and potential biases in AI models. Regular monitoring, feedback loops, and continuous improvement are essential to ensure the responsible and effective use of AI technologies.
With these tools, which are improving literally by the second, it is important to stay ahead of this curve, or you will lose your competitive advantage, and potentially your foundational vision along the way.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
 
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024