"Instant is the new fast," speaker Ross Shafer told the attendees at NAFEM's Annual Meeting and Management Conference just last month. "And fast is the new slow."
Living in a world where the pace seems to accelerate constantly and expectations seem to shift on a minute by minute and customer by customer basis can be overwhelming. It is virtually impossible for everyone to make everything their top priority. As a result, it is important for you to be able to comprehend the trends of the day and prioritize those that have the potential to impact your business the most.
In writing these words I know they seem pretty fundamental, meaning this concept is something that most foodservice professionals already understand and readily embrace. But I would challenge you to look deep inside your organization to see if that's really the case. Business school textbooks feature one example after another of industry defining companies that are either a shell of their former selves or completely out of business.
While many of these companies, like Blockbuster, Woolworth and Kodak, hail from different industries, they all share a couple of common traits, according to Shafer. "They all got arrogant and fell in love with the way they made their profits," he said. So a significant challenge every company faces is determining how to make sure your business remains relevant for the next five or ten years.
Doing something like this in the context of your day to day responsibilities can be incredibly challenging. Let's face the fact that in a market that's not growing rapidly the way most foodservice companies — suppliers and operators alike — continue to flourish is by taking share from someone else. As a result, you do not show up at work each day wondering how to kill eight hours. Even under the best of business circumstances making the time to remain current and to understand your company's place in the larger context of the entire foodservice industry represents a significant challenge. It also is a challenge you must master in order for you and your company to evolve.
For those in the highest levels of management, addressing these challenges can be pretty lonely. The good news is that you are not alone. Many of your peers continue to wrestle with many of the same challenges as you. We must all work together to make sure that everyone succeeds. That's because when one is successful, we are all successful.
Countless people can benefit from your experiential-based knowledge and you can benefit from theirs. The foodservice industry features countless platforms that facilitate the exchange of ideas and experiences for professionals from all disciplines. For example, you can attend or even present at a conference or share your thoughts and experiences through articles in FE&S or various association publications.
No matter which steps you take, know they do more than take up your time. Participation gets you to look at your experiences differently and put you in a position to interact with and learn from your colleagues, all key components to driving the necessary innovation that will keep your company relevant for years to come.