Corporate Innovation: Innovate like a Startup

building

The pace of global change is ageing company lifecycles more rapidly. Corporate Innovation focus needs to shift beyond products to the ways that companies operate.

The Business models and Revenue models that new age organisations use are often not that different to the past but are often applied in new ways; enabled by new technologies. When certain “catalysts” are put in place, they drive conversion. Executives, managers and leaders at all levels need to find ways to have the tools to diagnose and structure their NEXT activities to thrive.

line-png-32

This program is designed for:

✓ Corporate innovation efforts that want to build a new business area or unit.

✓ This program is about launching a speed boat off the side of the battleship to grow a future based business.

✓ Companies wanting to be proactive about disruption of their industry

This program delivers:

✓ A design plan to build a new growth division or to transform a companys‘ operations significantly.

divider_small_around

DESIGN NEXT

WORKSHOP PROGRAM

Build a new Business Unit

Format: 5 Half Day Workshops over 2 – 5 months
Outcomes: New Division, New Business Area Design

We need to build organisations that have future growth capability. If we neglect this for too long, our task becomes harder and poor results endure longer.

line-png-32

Below are 4 ways we WORK the HOW, to design NEXT

Market Model:

✧ Where is the demand for your product growing most rapidly?

✧ Sales & Communication Model – Does it work well for this growth market as previously or is it better served another way?

✧ What should your mix of Direct Sales, Distributors, Agents, Advertising and Content Marketing be?

The two choices for you to make are:

✧ Should you sell face to face or over the airwaves?

✧ Using either of the above, are you best to communicate directly to your customers or is someone else better positioned to do that?

Business Model:

✧ Is your Business model the best for current times?

✧ Is growth harder than it used to be? Do you feel like your market is changing faster than you are reacting? Then perhaps you need to consider business model innovation.

Differentiation Model:

✧ How do you differentiate from your competitors? If you go to your competitors’ websites do they say the same thing you do? You need to ask, are you truly different? To stand out from the rest you must excel at ONE if these areas: Best Product, Best Customer Experience or Best Price and daylight needs to be a clear second along that ONE dimension.

Revenue Model:

✧ What revenue model should you have? Do your customers want to buy or rent? The rise of subscription models are clear evidence that our markets are less inclined to ownership than they used to be. Are we charging for utilisation or definitive ownership transaction? This is mostly linked to the business model in place but changes can be made.

✧ If you feel like you are not spending enough time engineering future sales growth, it’s a sure sign you need to innovate the HOW as much as the WHAT.

XCELERATORS ARE DIFFERENT FROM INNOVATORS OR DISRUPTORS.

XCELERATORS ARE DIFFERENT FROM INNOVATORS OR DISRUPTORS

 

Being a large organisation used to help a lot. Investments in assets, access to talent, access to funding would create barriers to entry. This aided with many things including geographic expansion, leveraging large Research & Development budgets towards future breakthroughs and attracting the capital needed to progress company direction.

Large corporations often had first insight to new information. Leaders at these companies today can be great at what they do, but it’s no good being a great captain of a battleship if its getting a bit run down and not sure where to direct it. Sometimes you need speedboats churning off to a new ‘growth island’ destination.

With this information, corporate innovation has been encouraging hanging out at business incubators, co-working spaces, collaboration with start-ups and hack-a-thons. Everybody is talking up efforts on new business models, business transformation and disruption. A lot of this is lacking traction. Traction being revenue and profits.

Making the right changes that are big enough and fast enough, is less common, than more common. The reality is there is so much more to do, with limited people able to direct a successful course.

We see this in that Australia is not pulling its weight on innovation. Australia which should be well positioned to create disruption of its own isn’t working. We should have more companies shaking up the top tier. Australia ranks near the bottom of the 30 OECD (Organization for Economic Cooperation and Development) countries on commercialisation metrics. The 2015 Annual Innovation System report from the Office of the Chief Economist in Australia stated only 16% of Australian organisation are innovation high performers and 75% of Australian companies do not have an innovation mindset.

divider

Lean Start-up methodology is one tool companies are using, Business Model Canvas is another. Both of these have tremendous value when applied knowledgeably but they both rely on a creative and empirical approach which can take some skill and resources to manage well.

 

Our Design NEXT program sets you up as an introduction to these by providing frameworks for immediate insights about your current business model and alternate choices for immediate consideration. Designing the new unit can come quickly and then be further developed in a resource heavy approach once some validation is applied.

divider-arrow-1

Contact Paul