Last Week Licensing International President Maura Regan “sat down” with former Vice Chair of Business Innovation at GE, Beth Comstock, whose book “Imagine It Forward” discusses working and living on the front lines of change. 

The Times They Are a-Changin’

“Change is now part of everyone’s job,” said Comstock. So, what’s the key to moving forward in the midst of so much upheaval?

• Know your story – “If you can’t tell a story, you can’t sell your product.”
• Seek out feedback – A good rule of thumb always, but particularly in times of transition. A proactive approach with stakeholders will allow you to act quickly and stay ahead of problems.
• Harness the power of partnership – Any company that thinks it can go it alone, no matter how big, is going to be very surprised, says Comstock. “For example, I would argue maybe Facebook needs a lesson in partnership to help them navigate areas where they think they know the answer.” 

Become an Expert of Observation

Perhaps now more than ever, people want to know what’s next, which means that trendspotting has become a critical skill. “It’s not like you need a crystal ball. You get out in the world, and you just start to see things. Obviously, we can’t get out per se right now with the pandemic, but you can read a lot, you can still see a lot.”

Comstock says it’s all about pattern recognition, and she uses a technique she calls “Going on Threes.” “I keep a notebook of things I see or experience that I think are interesting. When I see something a second time in another context, I ask, ‘Is this a coincidence?’ The third time I see it, I ask, ‘What am I going to do about it?”

Watch the full conversation with Beth Comstock now, free for Licensing International members.

And don’t miss the next Screenside Chat on July 15 with brand reinventor and CEO of CoveyClub.com Lesley Jane Seymour.