What Business are you Really In?

In 1999, James H. Glmore co-authored the book The Experience Economy with Joseph Pine II. In it, they introduced their groundbreaking framework for understanding the progression of economic value over the course of modern human history. They proposed that each time the defining motor of an economic era shifts, it takes us some time to understand and realize that you are no longer primarily selling your customers what you think you are. In 1999, they proposed that we had already progressed from a service economy to an experience economy.
In this Tugboat Institute® talk, Jim shares this theory, along with his updated thinking on the model. While most of us have come on board with the reality that the most important aspect of what we are selling was, in fact, an experience, rather than a good or a service, we are lagging again. Jim postulates that we are now in a transformation economy, and that while many of us may not yet realize it, the focus of our businesses has again shifted.
Watch and understand what this might look like in your industry and company, and how you need to adjust your strategy to keep current.