SPOS #933 – Steve Dennis On Driving Leadership And Innovation

May 26, 2024

Retail expert and bestselling author, Steve Dennis, discusses driving leadership and innovation in a rapidly evolving landscape. He emphasizes the need for agility, differentiation, and creating emotional connections with customers. Steve warns against incrementalism and highlights the importance of understanding factors impacting businesses for swift responses to volatility.

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INSIGHT

Broader Leadership Issues

Many retail issues affect other businesses as well.
Leadership issues like ego, fear, and lack of introspection hinder responses to change.

ADVICE

Aim Higher, Move Faster

Leaders must aim higher and move faster in today's business environment.
Being remarkable involves creating an emotional connection with customers.

INSIGHT

Technology Drives Competition

Technology is the primary driver of increased competition.
Easy access to information empowers consumers and makes it harder for brands to differentiate.

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Welcome to episode #933 of Six Pixels of Separation - The ThinkersOne Podcast.

Here it is: Six Pixels of Separation - The ThinkersOne Podcast - Episode #933. Let’s dive deep into the transformative insights of Steve Dennis - a strategic advisor, retail leadership expert, and bestselling author. Steve's latest book, Leaders Leap - Transforming Your Company At The Speed Of Disruption, dissects why so many transformations fail and reveals what leaders must do to keep their organizations relevant in an ever-evolving landscape. With a diverse career that includes c-suite roles at two Fortune 500 companies and his current position as President of SageBerry Consulting, Steve brings a wealth of experience to the table. First he was at Sears and then Neiman Marcus Group, where he pioneered customer insight, loyalty, and omnichannel marketing strategies, making him a sought-after voice in retail innovation. Steve underscores the urgency for leaders to aim higher and move faster to navigate a world of abundant choice and zero friction. He argues that being remarkable is not just about standing out but creating an emotional connection with customers. In an era where technology has leveled the playing field, businesses must differentiate themselves and offer value beyond price. Steve stresses the need for agility in leadership, urging leaders to understand the factors impacting their business and respond swiftly to volatility. He warns against the trap of incrementalism and highlights the importance of creating a sense of urgency and embracing change. Steve's insights are not just theoretical - they are grounded in his extensive practical experience and are vital for any leader looking to thrive in today's fast-paced business environment. He is also a Forbes senior contributor and co-host of the Remarkable Retail podcast, which amplifies the themes of his first book, Remarkable Retail - How To Win And Keep Customers In The Age Of Disruption. Enjoy the conversation...

Running time: 1:03:30.
Hello from beautiful Montreal.
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Please visit and leave comments on the blog - Six Pixels of Separation.
Feel free to connect to me directly on Facebook here: Mitch Joel on Facebook.
Check out ThinkersOne.
or you can connect on LinkedIn.
...or on Twitter.
Here is my conversation with Steve Dennis.
Leaders Leap - Transforming Your Company At The Speed Of Disruption.
Remarkable Retail - How To Win And Keep Customers In The Age Of Disruption.
Remarkable Retail Podcast.
Follow Steve on X.
Follow Steve on Instagram.
Follow Steve on LinkedIn.
This week's music: David Usher 'St. Lawrence River'.

Takeaways

Being remarkable is about creating a distance between your brand and the competition, and making an emotional connection with customers.
Leaders need to aim higher and move faster in order to stay relevant and avoid becoming irrelevant or extinct.
Technology enables access to information and substitutes, making it crucial for businesses to differentiate themselves and provide value beyond price.
Leaders must understand the factors that impact their business and be agile in responding to a volatile and uncertain environment.
Creating a sense of urgency and embracing change are essential for driving innovation and staying ahead of disruption.
Success anomalies can be misleading and it is important to analyze them critically and not draw general conclusions from them.
Attracting and inspiring talent is crucial for the success of a company, and it is important for leaders to create a culture that values and leverages the unique gifts of their employees.
Brands taking a stance on social and political issues can be a complex and risky endeavor, and leaders need to carefully consider the impact on their customers and stakeholders.
Physical retail still has a role in a digital world, particularly for experiential and social shopping experiences, but it needs to evolve and provide unique value to customers.

Chapters:

00:00 - Introduction and Background
02:49 - The Power of Being Remarkable
06:04 - Aiming Higher and Moving Faster
08:55 - Navigating a Volatile Business Environment
13:03 - The Role of Technology in Driving Innovation
28:48 - Analyzing Success Anomalies
30:39 - Self-Reflection and Adaptability for Leaders
39:21 - Attracting and Inspiring Talent
44:03 - Navigating Brands and Social Issues
49:20 - The Role of Acquisitions
51:08 - The Evolving Role of Physical Retail