Grab your Free Copy of “The 4 Biggest Mistakes That Stop Companies From 10X’ing Their Revenue” at https://www.scalerevenue.io/10x
Terry Jones has become a powerful voice in the world of entrepreneurship through his numerous speaking engagements and the publication of his books, ON Innovation and Disruption Off. Terry is the Managing Principal of the consultancy, ON Inc. He has been on twenty boards over the years. Now, he is on five boards, and he is the holder of several patents.
After leaving Travelocity, Terry figured out a great career for himself, where he could be a speaker and a board member. He also consulted for several years.
For Terry, being curious is the key to success. Success, particularly in technology, is about being curious enough to put different pieces together in a new way to create more value.
Culture and having a team of people who want change and drive innovation forward are vital. Those are the two most important parts of innovation. Creating a culture where you allow failure is critical. It is usually the project that fails- not the person. It is imperative to build a culture where you take a risk, be more agile, and make decisions quicker.
During Covid, digital disruption accelerated. And new business models emerged. The companies that will be successful coming out of Covid will be the ones that understand that those disruptions are permanent. And get on board.
Many companies are now writing contracts for outcomes. And subscriptions are on the rise.
The new business models are supported by new technologies which are a combination of AI, 5G, and IoT. Those are technologies revolutionizing manufacture.
Terry believes that new technologies combined with new business models are giving companies new life and new leverage.
Selling outcomes involves finding out what your customer’s goals are and then figuring out what you, as a salesperson, can do to get them there.
Manufacturing is becoming componentized. Manufacturers are outsourcing parts of their factories to people selling various components. Then they are putting all the necessary components together for specific outcomes.
When looking at innovation and disruption, the number one mistake that Terry sees companies making is that they tend to limit innovation. People need to be left to innovate. And then they need to celebrate their successes and their failures.
Acceleration happens in companies where people feel okay about trying something out without any fear of it failing.
Leaders always need to welcome and listen to any new ideas. They could even create incentive programs to encourage people to come up with new ideas. And circulate any new ideas widely within the company.
Cloud-connected innovation with disparate products is driving everybody now-even consumer products.
People in sales always need to keep looking for a new edge. And they need to remember that the old methods also work.
“I think what’s key is being curious.”
“I’m always curious about new things.”
“One of the great things about speaking as I do now, on disruption, is I speak to so many industries.”
“Success, particularly in technology, is about being curious enough to put different pieces together in a new way to create more value.”
“Culture and team are the two most important parts of innovation.”
“Creating a culture where you allow failure is critical.”
Links and resources:
Terry Jones’s website
Terry Jones’s books:
The Innovation Secrets of Steve Jobs by Carmine Gallo
The Presentation Secrets of Steve Jobs by Carmine Gallo