Innovative executives are leading the charge in bringing about necessary change in the quickly changing business environment of today. They understand that confronting the problems of our day requires flexibility and forward-thinking approaches. These forward-thinking people don’t settle for the status quo; instead, they use cutting-edge technologies, environmentally friendly methods, and creative strategies to revolutionise industries and satisfy shifting consumer and social demands. This essay will examine how these forward-thinking corporate executives are driving the most important and significant changes, influencing both the present and future of their companies and industries.
Mr. Business in this issue of The Most Innovative Business Leader of the Year narrates the story of one such leader. In this candid interview with Mr. Business, Lionel Lodge shares some of his insights on the industry and his company.
Tell us about your experience working for the company. What motivated you to found it?
No, the first firm I founded was when I was 11 years old; SyncLodge is not the first one. I’ve also created and shut down a few businesses in the entertainment sector over the years, in addition to being a musician.
I was able to support myself in the middle of the 2000s by making music, but CD sales were dwindling, so I had to find another source of income to either completely replace or at least somewhat offset the loss in income.
Someone recommended using my music for TV shows and films through sync licensing, which is the authorized use of music in visual creations for which a licence fee is paid. I stayed there, went to many of business gatherings, made contacts, and started licensing my recordings.
I was requested to represent a few independent musicians and a few tiny record labels for sync placements. My sync licensing agency existed the next thing I knew. I became aware of the evident necessity for a digital transformation while growing the agency and through numerous meetings and in-depth conversations with business leaders.
Many people required some “digital salvation” since they were drowning in paperwork, email ping-pongs, and phone calls. There are so many areas of the work processes that may use cutting-edge technology.
I initially searched for a strategy or a set of tools that could address the issues I was observing. I couldn’t locate one that satisfied all of my workflow requirements. So, my co-founders and I set out to construct it. Today, SyncLodge is enabling creators, taking home innovation honours, and expanding into a well known industry service.
What were the first difficulties you encountered, and why has the business been so successful for so long?
The main obstacle at initially was to have frank, in-depth understanding about the sync sector of the industry’s needs, as opposed to just my opinions on what was required. As a result, we spoke with hundreds of industry players from many nations who shared their perspectives on what was required. The issue then became that there was a broad spectrum of demands and viewpoints.
This indicated to us that the system needed to be inherently flexible and cover all of the users’ preferred working methods and needs. It also demonstrated the pressing necessity for a digital transformation of the business workflow.
With direct input from these hundreds of business executives on a weekly, monthly, or quarterly basis, we spent more than 3 years developing the system. Feedback, demonstration, construction, demonstration, construction…
Those years were difficult and stressful, but they were unquestionably necessary and well worth it. Why climb a small mountain, in my opinion, if you’re going to climb a mountain at all?
Our crew is the major factor in our success. We have a fantastic team of individuals working hard to keep us in the lead. Additionally, we have a huge network of consultants.
Although some come from entirely unrelated fields of business, the majority are from the entertainment industry. They kindly give us access to their many years of expertise.
What goods or services does the business prioritise? How do your services differ from those offered by competitors?
The sync licensing segment of the entertainment industry is the focus of the very innovative software company SyncLodge.
We examine the entire market, not just specific industries. We examine the interplay between each component and how it is evolving. We offer digital solutions to meet the demands of the sector.
Although our tools are used in many nations, our staff is still tiny and is only gradually expanding. I favour lean and focused teams, thus we carefully select new team members.
Collaboration and cooperation are essential. We reach out widely, meet, listen, and collaborate with everyone we can within the industry through our network of relationships in order to deliver the tools required to address the issues within the sector. Businesses can waste a lot of money on things like concept protection, aggressive marketing, and competing with one another’s successes.
Our goal is to bring together the various industry sectors and the numerous technological advancements made by other businesses, encouraging cross-industry growth and innovation. Regardless of your position, you want to cooperate with SyncLodge if you want to work in the sync licensing sector.
How do you make the decision to expand the SyncLodge?
We are always moving forward on our plan of action. We constantly have a few projects under development. It was decided by everyone. Most of the time, it just involves listening to our members and seeing how the industry is changing. Plan, interact, defend, and adjust.
As a successful leader, would you mind sharing your thoughts on the present business climate worldwide following the Covid19 pandemic?
The Covid19 pandemic has had a highly negative influence on the financial health of many small and medium sized businesses, as it does with any significant social and economic impacting events. Our current global financial crisis, which includes rising interest rates, increased expenses, and decreased standards of life, is the result of a domino effect that started with this.
It is much tougher for firms to grow or simply sustain the income required to stay in business when it is much harder for the low and middle classes to make ends meet.
To succeed, you need a committed team and innovative leadership. Although it may not seem like it, everything is balanced; for every down, there is an equal and opposite high.
To get back up, you need to find it, use it as leverage, and then use it.
Why is it asserted that every business’ growth depends critically on its workforce? Tell us a little bit about your team.
A company would not exist without its workforce. Even if you have a fantastic idea, it will only be an idea without a strong team to turn it into a successful business.
There are countless brilliant ideas that remain untapped. The idea comes to reality thanks to the team. The team is what brings new perspectives and original ideas. An orchestra is not made up of only one violin.
I am lucky to have a fantastic staff at SyncLodge and a fantastic network of advisors throughout the world. I support a collaborative and inclusive leadership approach that gives people agency, encourages a sense of ownership, and advances a common goal.
Everyone’s ideas are valued and promoted in the SyncLodge environment. We are a group of buddies and a team. Recognising and respecting each person’s strengths and giving voice to their opinions are crucial.
At SyncLodge, we place a high value on open communication and transparency in order to create a culture of trust that fosters better ideas, greater commitment, and a general sense of enjoyment at work. We use this to create groundbreaking technologies for the entertainment sector that have won awards.
Please provide us a brief overview of your professional background.
My entire life has been spent working in the entertainment sector. My father was a major influence and figure in the music business. It was my universe as a child. I got my start in the arts through performing, composing, recording, releasing, and touring.
But the business aspect has always piqued my curiosity. I was a comical child. In addition to truly enjoying math, business management, and accounting classes, I also adored taking music and theatre classes.
So, while I followed my artistic path, I would spot business opportunities and industry requirements, and I would launch a business to address those needs. Though some were more successful than others, I always cherished the difficulties and the processes of learning.
I’ve worked for and started companies in a variety of entertainment-related fields, including a live music venue, a live music booking agency, big event management, senior editor at an entertainment magazine, sync licensing agency, and now a tech company that caters to the sector.
I’ve learned a lot, been challenged, and gained an appreciation for the value of good, frank advisors in every function and firm.
What major accomplishments have you made in your business life?
I hope a recording artist will respond with their most recent album if you ask them which is their best. Building the SyncLodge team, creating the toolkit, growing into several nations, and observing the advantages our members derive from the system have been the main business accomplishments for me.
“The secret to business growth is innovation,” Please express your opinions.
Innovation is the only way for businesses to grow. But innovation can also be as simple as coming up with the crucial three words to describe a brand-new good or service. Innovation might involve making minor adjustments to a process to improve its performance. The configuration of the conference room for longer, more in-depth conversations might be innovative. You are lagging behind if you are not inventing. There is never a still moment.
Which one of these quotes is your favourite?
I have many favorite quotes. Here is one: “Even if you are on the right track, you’ll get run over if you just sit there.” – Will Rodgers
