Balancing Tradition & Innovation: What Businesses Can Learn from Harley Davidson with Ken Schmidt

STOC 129: Balancing Tradition & Innovation: What Businesses Can Learn from Harley Davidson with Ken Schmidt   In this episode of 'Secret Thoughts of CEOs and Business Leaders,' host Chris Yonker interviews Ken Schmidt, a former Harley Davidson executive renowned for his innovative repositioning strategy. They discuss the key elements holding back family businesses and privately held companies, including family harmony, succession, financial management, and innovation. Ken shares insights into Harley Davidson's transformation, emphasizing the need for businesses to connect on a human level, foster a strong internal culture, and leverage their unique history. They explore how companies can balance maintaining core values with embracing new innovations to delight and retain customers.   What You’ll Learn   ·       Humans naturally seek and return to sources of delight, regardless of how minor they are. ·        When the human connection is made, business wins.   Timestamps 03:48 Ken Schmidt's Journey to Harley Davidson 20:16 The Importance of Company Identity 32:04 The Role of Technology in Customer Interaction 34:30 Human Connection 37:55 Building a Memorable Business 43:20 Creating a Culture of Delight   Memorable Quotes ·       “Harley does all this other stuff that, that hits people at a human level. And at the end of the day, that makes the business more desirable. It makes people willing to pay more, for the privilege of being part of that community.” [19:45]   ·        ” How can we do what we do faster, better, and cheaper to get more stuff out into the marketplace? That's exactly what customers are not looking for.” [27:55]   Websites: fambizforum.com. www.chrisyonker.com. kenspeaks.com LinkedIn: @KenSchmidt Tailgating with Geniuses Podcast   Ken Schmidt Bio:   It’s an impersonal world, where so many products and services are seen as easily-replaced, indistinct commodities. Whether you stand out or get lost in the crowd is a choice. A mindset. Ken Schmidt faced those same challenges himself and gained acclaim for his role in the extraordinary turnaround of the legendary Harley-Davidson Motor Company. That transformation was based on a change in mindset and a focus on answering three key strategic questions. While times have changed, what humans want and need from the businesses they buy from and work for hasn’t. In his high-energy speeches, Ken inspires companies and individuals to shift their thinking and ride a path to success by becoming memorable – not for what they do or what they make, but for how they connect with people. Ken is author of Make Some Noise: The Unconventional Road to Dominance. He’s also host of the Tailgating with Geniuses podcast and co-founder of Torque Sessions Leadership Training. In all of his endeavors, Ken brings an unconventional perspective that helps organizations and individuals reframe how they engage with their marketplace.   Ken Schmidt’s career in the motorcycle industry began in 1985 as a specialist in corporate positioning and media relations for the then-struggling Harley-Davidson. He was tasked with helping the company restore its image, improve its competitiveness, and create demand for its motorcycles. Within a few short years, sales of Harley-Davidson motorcycles skyrocketed, and the company returned to prominence as one of the most respected, profitable, and frequently reported-on companies in the world. In 1990, Ken became director of Harley-Davidson’s corporate and financial communications, serving as its primary spokesperson to the media and the financial communities. He frequently appeared in mainstream and business media to offer insights on nontraditional communications, customer attraction, and brand-building. His expertise and success at Harley- Davidson ultimately led to consulting assignments and speaking invitations from all over the world. In 1997, Ken left Harley-Davidson to take an ownership position with a highly successful Chicago-based marketing firm, VSA Partners. In addition to Harley-Davidson, VSA served a virtual who’s who of the world’s best-known brands. In 1999, he sold his portion of VSA to start his own business, Ken Schmidt Company, to combine two of his greatest passions, motorcycling and speaking. He uses motorcycles as a metaphor to expose people to proven ideas and concepts they’ve likely never imagined.   In addition to speaking and consulting, Ken is co-founder of Torque Sessions Leadership Training. Through a combination of hands-on training and interactive workshops, these sessions help individuals and organizations re-position themselves to become dominant competitors, maximize leadership effectiveness, build a people-first culture of innovation and foster loyalty among customers and employees.   Ken is also the host of the popular podcast Tailgating with Geniuses, wherein he talks with some of the most innovative and successful leaders in a variety of industries to discuss their unique perspectives on leadership, major challenges, and success. Ken's relatable and engaging hosting style has made the podcast a hit with listeners looking to learn from the best and achieve their own personal and professional goals.   Ken authored Make Some Noise: The Unconventional Road to Dominance, which gives business leaders an easy-to-follow roadmap for improving their competitiveness, using many of the techniques he championed at Harley-Davidson. He considers his work on 100 Years of Harley-Davidson, a global best seller, to be one of his greatest and most rewarding achievements.   After all he has accomplished, Ken remains committed to his philosophy of standing out, taking risks, and having fun in both his personal and professional life. He says, “Never do what’s expected, make yourself as noticeably different as possible, and have a lot more fun than you’re supposed to.”