20 ways businesses adapt to industry changes without losing momentum

Shayne Fitz-Coy contributed to Forbes’s expert panel, “How Emerging Market Real Estate Investors Can Assess And Mitigate Risk.” Do A “Coffee Shop Test” While others obsess over market data, I prefer the “coffee shop test.” Spend a few days in an area to observe traffic patterns, routines, commutes and development momentum. Quantitative analysis can be…

Shayne Fitz-Coy contributed to Forbes’s expert panel, “How To Maintain Company Culture Amid A Generational Shift.” Plan For Regular Cultural Rebirths Plan for your company culture to die and be reborn every few years. Instead of preserving outdated traditions, empower younger employees to remove values and practices that no longer serve the company and its…

Shayne Fitz-Coy contributed to Fast Company’s expert panel, “14 ways to manage the rising costs of emerging software innovations.” IDENTIFY TWO TO THREE CORE FEATURES THAT MATTER MOST. Integrating new technology is a great opportunity for cost escalation. To manage it, really try to identify the core two or three things that need to go…

Shayne Fitz-Coy contributed to Fast Company’s expert panel, “How to master PR without a communications team on board.” PRACTICE RECORDING YOUR MESSAGE. It’s the same way to Carnegie Hall: practice. Record multiple takes and select the last one for the best delivery. While the first take feels authentic, later takes are more polished while retaining…

Shayne Fitz-Coy contributed to Fast Company’s expert panel, “20 ways leaders stay grounded and motivated in changing times.” LETTING FAMILY MOMENTS SHIFT YOUR PERSPECTIVE My children’s magnificent indifference to my importance keeps me grounded. After closing our biggest deal, my 4-year-old interrupted the celebration to ask if I’d seen her doll. That perspective reset was…

Shayne Fitz-Coy contributed to Fast Company’s expert panel, “15 potential pitfalls to eliminate from the innovation process.” BUILDING AN ‘INNOVATION TEAM’ Don’t treat innovation like a department; make it a habit. I’ve watched companies build “innovation teams” that become expensive idea museums. At my company, we scrapped our innovation group and instead embedded “possibility sessions”…