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  • Will space tourism ever take off?
  • Will humans be cloned?
  • Will Spas remain after we have mastered DNA manipulation?
  • Will pigs fly?

Questions, questions, questions – but the Future’s not ours to see – whatever will be will be…

As a little boy, whenever I spoke with my grandmother, I got told, “whatever will be will be”….and life was fine….Then, I grew up and quickly realised that this message was only partially true. Yes, things will happen, but the most successful individuals are those who don’t wait for destiny, but start forecasting the future; develop a vision and then keep working to achieve the same.

B school jargon calls it Vision, Mission and Strategy.

Easier said than done. One of the biggest challenges faced by corporate and community leaders in this millennium is on how to forecast future trends; because winning strategies will only be those which have accurately previsioned the future and accordingly designed their products and organisations to harness opportunities which arise. The world is ever changing and thus forecasting trends, market niches and consumer shifts is becoming more and more random.

So, who are the masters at forecasting the future? Where can I access such information? Can I go and buy such a manual? Well, unfortunately, you cannot get such ready to consume data or trends from any one source. The closest we have got to compiling trends within one document is the Lausanne Report (Last published in 2016).

As a corporate advisor and senior management coach, I started trying to identify talent attributes which could help my mentees become better at forecasting trends. Here’s what I found. The best managers who forecast and correctly harness trends are those who:

  • Have a mastery over their existing set of products and processes
  • Have a deep connect with their employees; who serve as recipient antennas and early warning systems to flag shifts within the ecosystem
  • Remain open to trying new ideas
  • Remain curious and are always experimenting better ways of delivering the existing products / services
  • Do something that frightens them at least once every calendar quarter – push into the unknown
  • Keep it simple

That’s enough on structure. Now, here are some trends which have already started impacting, or soon will impact the global hospitality industry:

  • Robotisation – Products and services which are scripted, and consistently predictable are all being robotised. This is impacting product quality, speed of delivery, manpower counts, and storage systems across hotels and restaurants.
  • Uberisation of the workforce – Each employee is becoming a microbusiness. Large companies will only be able to procure their services when the individual desires to sell to the large corporation. New ways of manpower planning, rostering, contracting and also people certification.
  • Driverless Transport – Big impact on hotels? Drinking and driving? Could I sleep in my car? Or work in it? Mobile hotel rooms? Will business customers need hotel rooms in the future? Who builds car parks?
  • Priceless Luxury – Luxury will become an even stronger factor of human contact. Customers will be willing to pay large premiums for services delivered by humans and not computers.

That’s it, readers. Please go off to work on how these trends could impact your businesses and cash flows in the coming 10, 20 or 30 years and keep re-inventing your business processes.

Bonne chance!

Don’t just wait for things to happen…..make things happen.

 

Meet Yateendra Sinh at the 2nd Edition of Window to the Future on April 30th 2018

 

Author

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Yateendra Sinh CEO at Lausanne Hospitality Consulting

Yateendra has been building Lausanne Hospitality Consulting since the year 2000, and has thus been at the forefront of its business strategies and client portfolio management.

During his tenure in Lausanne, he has delivered advice, coaching and trainings in diverse situations; to Clients in 50 + countries and in areas of strategy, organisational design, business planning, efficiency acceleration, sustainable business cultures, great hotel experiences and profitable dining concepts.

Prior to joining LHC, Yateendra held various operational responsibilities such as pre-opening and managing of hotels, business clubs, townships and large IT infrastructure networks. Yateendra has expertise in many facets of the hospitality industry: planning, policy-making, industry diagnostics, strategic analysis, new product & concept development, re-engineering, marketing and information technology. He is a graduate in Economics from the University of Bombay and has a three-year post-graduate Diploma in Hotels & Management.

Outside of work, Yateendra’s passion is sport- all types; ranging from Rugby, through to Javelin, Football, Iron Man contests, to name a few. In the last years thought, he has spent most of his spare weekends on a Cricket pitch.