It’s Coming!!! Innovation Strategy

Idea concept with row of light bulbs and glowing bulb

Today I wanted to share a blog on what I have coming for you in 2017! I have been working diligently to put together a course on assessing your business for innovation, providing you with the innovation you need to implement and creating a strategy for your business.

The assessment is based off of my experience working for a Big 4 and what is offered to larger Fortune 50 companies. But the reality is that unless you have millions of dollars to invest in services chances are it is not worth a big Firms time to assess your business because you would not be buying their services. Thus this puts most entrepreneurs in the position of not having access to the same strategy unless they became the next big NIKE.

Now I do not provide services to implement what I am proposing you add to your business, but I can help you to understand what you need to implement in order to succeed. Chances are the smaller your organization the easier it will be and less expensive it will be to implement change.

The strategy has been proven based off of eight years of research of all major successful businesses by leading experts. They studied Google, Ford, McDonald’s, Facebook and more! An algorithm then was developed that when you plug your business into it, you can identify the areas to innovate so that you can achieve greater success.

So who needs an innovation assessment?

  • If your business needs to grow but all the old tricks are tapped out; the markets expect you to grow but you don’t know where that’s going to come from
  • You are good at the incremental stuff, but need to get better at taking bolder bets
  • You have to get better and faster at commercializing ideas
  • You’ve got a great idea but just can’t get it developed and executed in your system
  • You need to foster more of a culture of innovation
  • You know you need to look beyond your industry/traditional competitor set; your biggest threat probably comes from if the Google's / Amazon's decide to get into your business
  • You need to get closer to customers; less “product push” and more “customer back”
  • You are experiencing stagnant growth in your core business and are looking for new platforms or new growth options
  • You have been falling short on growth objectives, and keep adding to portion of "growth goals" that will be driven by innovation
  • You are facing disruption – generally in your industry or specifically to your business model
  • You see the need to innovate with others in the value chain and rethink your business model
  • You are becoming more of a consumer-driven business or with increasing influence from consumer markets
  • When a B2B player is trying to learn how to work down the value chain and take more margin
  • When it feels like bold ideas are getting trapped by the organization’s matrix / BU politics
  • When the challenge has been made to be more innovative or to create an innovative culture by senior management
  • When the pace of innovation in the industry has been increasing, and you need ways to speed up development cycles and make them more efficient
  • When innovation feels ad-hoc and/or no clarity / direction on where to innovate and where not to
  • When a company recently did an "ideation" session and now has too many ideas and doesn’t know how to prioritize and/or move forward

The assessment will allow you to be explicit about your innovation ambition, then organize and execute accordingly. Look beyond product innovation to impact other elements of your business system. Innovation almost never fails due to lack of creativity and almost always fails due to lack of discipline.

This assessment will also allow you to:

  • Creating new growth platforms
  • Moving into adjacencies / new markets
  • Deeply understanding customers and markets
  • Tapping into difficult customer segments
  • Defining new customer experiences
  • Developing and implementing new business models
  • Taking bold ideas through launch to market impact
  • Improving how stage gate / innovation processes are working
  • Transforming innovation capabilities and implement innovation systems
  • Defining innovation’s role in the corporate growth agenda

This course will launch in the next few months! Only the final details are being set into place. But I will have a limited amount of space in this course because I want to make sure I can give the best support I can during the process. So if this sounds like something your business needs be on the look out for the official launch! I am excited to help you take your business to the next level!

 

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