Control What You Can: A Blueprint For Thriving As A Legacy Company

Forbes

26-06-2025

Scott Murphy, President and Chief Executive Officer, Jewelers Mutual®.
While tradition and heritage are valuable assets for legacy companies, they can sometimes create a false sense of security in the face of rapid change. Technological change and evolving customer expectations are irresistible forces that, if you are not careful, can easily overwhelm your company's infrastructure in a matter of months.
If you lead an established company, you likely already feel the strain between preserving what works and staying relevant. I have experienced this firsthand at my company, which has more than 100 years of history, and I have learned that staying still is not an option.
Our transformation has included digitizing core processes, acquiring new businesses, and reimagining how we support customers and partners across our industry. These are all tried and true practices, but what makes them effective strategies in managing change is how you execute them: with a proactive approach and a belief that change can help you maximize your success instead of toppling it.
Creating A Blueprint For Change-Management
Here are four actionable strategies I recommend to other legacy business leaders looking to drive growth while honoring their company's roots:
Resistance to change is often your biggest internal threat. I have found that success in overcoming it starts with how you communicate change. For example, our company began tying every change initiative to a customer outcome and ensured all levels of leadership could clearly explain the "why" behind the initiative. We also made it a habit to involve employees early through ideation sessions and to provide regular updates. Celebrate your progress often, even small wins—it helps build momentum and normalize innovation.
Legacy companies typically have the resources and trust to lead disruption—but you must be willing to rethink even your most successful offerings. We recognized the need to modernize jewelry insurance at the point of sale, which led us to develop a mobile app. It was a bold shift from traditional models, but the decision to act proactively—before our customers demanded it—gave us a competitive edge.
Ask yourself: What part of your business are you afraid to touch? That is often where innovation needs to happen most.
Many organizations collect customer feedback, but the differentiator lies in how effectively that feedback is synthesized and acted upon. By combining usage trends from your various touchpoints (such as your website and mobile app) with data from service centers and post-interaction surveys, you can identify friction points and iterate quickly.
For example, we implemented a unified customer data platform that allows us to proactively resolve service pain points, improve digital self-service functionality and strengthen omnichannel support. These insights have informed product enhancements and led to measurable improvements in engagement and satisfaction.
I encourage you to invest in tools that centralize and surface feedback, whether they be a CRM system or custom dashboard. More importantly, empower your teams to act on what they learn. I have found that true personalization is not about having more data—it is about using that data to show customers you are listening and can meet them where they are.
Build influence, create space for innovation, communicate your progress effectively, and empower your teams to do the same. In my experience, focusing on what can be controlled—and not letting things outside of that control paralyze your progress—is key.
Establish a framework that empowers employees at every level to take ownership of ideas and drive initiatives forward. Look for technology solutions that generate measurable ROI, such as reducing manual processes through automation and digitization. I also recommend investing in self-service tools and streamlined digital platforms that directly support customer experience and business growth. This kind of proactive mindset can not only accelerate progress but also build organizational confidence and support a culture where innovation is continuous and sustainable.
The Advantages Of Embracing Change
By prioritizing continuous adaptation, you can regularly assess and adapt your business processes, product offerings and customer engagement strategies. You can also foster stronger, more long-term customer relationships. With expertly tailored personalized communication and a commitment to customer satisfaction, these relationships can feel more valuable to the customers they are meant to serve.
Conclusion
Legacy companies often have strengths that younger organizations do not, including history, trust and a strong foundation. I have seen how honoring our past while building boldly toward the future can be a winning combination. If you pair that foundation with a customer-first mindset, the right tools and a willingness to challenge assumptions, your legacy can not only survive, but thrive.
Change is inevitable. Growth is optional. Choose to grow.
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