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Showing posts with label innovating like a startup. Show all posts
Showing posts with label innovating like a startup. Show all posts

Monday, December 10, 2012

The Case Against Incremental Improvements In A Business World Turn Upside Down

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I hear this from executives and workers all the time: "I understand that we need to innovate, but why now? I'm just trying to make it to the next quarter. This is the time to get back to basics." In theory, I don't object to getting back to basics. Every company has to grow revenue, raise prices (if it can), and cut costs. That simple arithmetic never changes.

But here is the shared dilemma: Most companies today can't grow revenue by force feeding the same old stuff to the same old customers through the same old channels in the same old way. People may already be eating as many hamburgers as they are ever going to eat, drinking as much beer as they are ever going to drink, even buying as many plain vanilla personal computers as they are ever going to buy.

You just can't grow revenue significantly -- unless you bring jaw-dropping new products and services to customers. And surprise surprise….your customers are internal (employee partners) and external. Unless employee partners are working in a state of discovery and awe, rather than archaic feardoms, remarkable competitive products leaving competitors whimpering, “What the heck” on Monday mornings won’t occur.

The choice for business is really quite simple. Get busy doing the things you know to do.

 

Hire Jim

Jim Woods is principal and founder of InnoThink Group. Jim is a business turnaround expert and personal coach. His story is riveting. He has worked with government, U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. Jim W experiences, extensive research on competitive strategy and innovation have given him a fresh perspective on improving individual and organizational performance. Jim is a prolific speaker on strategic innovation, creative leadership, uncertainty and competitive strategy. Speak with us for consulting or speaking engagements call 719-266-6703 or click here for more information. Follow Jim on Twitter. Follow Jim on Facebook.  

 

The Case Against Incremental Improvements In A Business World Turn Upside Down

Media_httpinfosthetic_rlhuw

I hear this from executives and workers all the time: "I understand that we need to innovate, but why now? I'm just trying to make it to the next quarter. This is the time to get back to basics." In theory, I don't object to getting back to basics. Every company has to grow revenue, raise prices (if it can), and cut costs. That simple arithmetic never changes.

But here is the shared dilemma: Most companies today can't grow revenue by force feeding the same old stuff to the same old customers through the same old channels in the same old way. People may already be eating as many hamburgers as they are ever going to eat, drinking as much beer as they are ever going to drink, even buying as many plain vanilla personal computers as they are ever going to buy.

You just can't grow revenue significantly -- unless you bring jaw-dropping new products and services to customers. And surprise surprise….your customers are internal (employee partners) and external. Unless employee partners are working in a state of discovery and awe, rather than archaic feardoms, remarkable competitive products leaving competitors whimpering, “What the heck” on Monday mornings won’t occur.

The choice for business is really quite simple. Get busy doing the things you know to do.

Hire Jim

Jim Woods is principal and founder of InnoThink Group. Jim is a business turnaround expert and personal coach. His story is riveting. He has worked with government, U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. Jim W experiences, extensive research on competitive strategy and innovation have given him a fresh perspective on improving individual and organizational performance. Jim is a prolific speaker on strategic innovation, creative leadership, uncertainty and competitive strategy. Speak with us for consulting or speaking engagements call 719-266-6703 or click here for more information. Follow Jim on Twitter. Follow Jim on Facebook.  

Thursday, April 19, 2012

Jocelyn K. Glei: Why Entrepreneurial Thinking Is For Everyone Now : The 99 Percent

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"We need a new playbook," says entrepreneur and author Ben Casnocha. "The world has changed. The world of work has changed. Many of the assumptions that have guided how we think about careers in America are no longer true."
The Start-Up of You, written by Casnocha and LinkedIn co-founder Reid Hoffman, is that playbook. It argues that we can no longer expect to find a job, instead we must make our jobs. As Hoffman says, we have to "find a way to add value in a way no one else can. For entrepreneurs, it's differentiate or die — that now goes for all of us."*

Relevant for recent grads to mid-career professionals in the midst of a transition, Start-Up provides pragmatic, actionable advice, finishing each chapter with tasks to complete in the next day, in the next week, and in the next month.


I chatted with Casnocha — a longtime favorite blogger of mine — after reading Start-Up to explore the book's themes in more depth and investigate his collaborative process with Reid.

What role does passion play in a good career plan — if any?
Definitely plays a role. When you're passionate about something, you tend to do better work, longer. The question is whether you find passion or develop it through competence. And then how you square passion with other considerations — such as your aspirations and the market realities. So, passion is key, yes, but it's rather more complicated than many career writers would have you think. Passion without being good at it doesn't get you very far; passion that no one will pay money for is also limited in scope. You need to weigh various factors, passion being one of them.

 

Do you think there's something new about "entrepreneurial thinking"? Or is it the new word for a type of thinking that has always existed?
All humans were born with entrepreneurial instincts. We quote Muhammad Yunus to this effect — he said that for a very long time humans forged lives by finding food, feeding ourselves. The instinct to create a life is deep within us. What's new are the specific skills that complement that instinct — the skills for adapting in the modern world.

What do you think is the No.1 misconception of people heading into a new career or looking to make a job transition?
That if you simply work hard, good things will happen. It certainly increases the odds, but working hard is no guarantee of anything. There are no guarantees, period.

The question is whether you find passion or develop it through competence.


How important is being comfortable with uncertainty? 
Anything worth doing is going to have degrees of uncertainty associated with it. Clamming up and treating any uncertainty as "risk" to be avoided will preclude you from seizing the very best opportunities. So, it's important. How you actually go about embracing risk and uncertainty is something we detail in the book. One tip: induce risk in small chunks, bit by bit, to raise your tolerance.

I love the idea that you present in the book of an "interesting people fund" — where you encourage people to set aside time and money in advance to keep their networks up to date. Can you talk a little bit about this "long view" approach to networking?
The interesting people fund is a pre-commitment strategy: by pre-committing time and money to meeting interesting people, you increase the likelihood that you actually do it. Because many people know they ought to do it, and think about doing it, but when push comes to shove and it's time to take an hour out of your day or spend $40 buying someone lunch — they punt on it.

In terms of the long view of networks, if you're not taking the long view, you're doing it wrong. Relationships — be it romantic, friendship, or professional – take time to develop. A lot of time. Rushing a relationship into a short term transaction can jeopardize the long-term relationship potential.

I recently read a great quote from Steve Pavlina: "If you struggle financially, upgrade your social skills. Money flows through people." Does this resonate with you?
Absolutely. In the opportunities chapter we say that every opportunity is attached to a person. Opportunities do not float like clouds in the sky. They're attached to people. If you're looking for an opportunity — including one that has a financial payoff — you're really looking for a person.
Opportunities do not float like clouds in the sky. They're attached to people.

 

If I had to distill the advice in the book down to the simplest possible equation: It might be something like "constant curiosity + action = career success." Is that accurate? What would be your equation?

Gosh, hard question! "Constant curiosity + thoughtful action = career success" could be one. "Change + adaptability = success" could be another. Networks should also be in there somehow!

What was your writing process with Reid like?
I'll be writing about this more on my personal blog in a bit. But the short answer is that we focused on our comparative advantages. I was working on it full-time and could go deep on some of the ideas and how we should organize them. Reid thought a lot about which ideas from the start-up/entrepreneurship world could be mapped effectively to careers. As with all books, we went through a lot of iterations to get it right. Anne Lamott nailed it: "Shitty first drafts." I will say that writing a book forces a certain rigor on the ideas — the linear text limits you but in a way that ultimately sharpens the ideas, I think. Certainly that was the case for us.
--
Jocelyn K. Glei is the Editor-in-Chief of the 99%. You can follow her intermittent tweets @jkglei. via the99percent.com

Want to increase growth and avoid losses? Want to out compete your competitors? Want to bring new products and services to market faster? Want to be more agile? Contact Innovation and Growth Speaker Jim Woods. Jim works confidentially with start ups, governments as well as profit and for profit enterprises.

Visit our website:www.innothinkgroup.com Executive and Business Coaching: http://ow.ly/anBpK

Jim Woods is president and founder of InnoThink Group. A global management consulting firms specialized solely in helping organizations of all sizes in all industries catalyzing top line growth through strategic innovation and hypercompetition. Jim has over 25 years consulting experience in working with small, mid size and Fortune 1000 companies. He is a former U.S. Navy Seabee and grandfather of five. To arrange for Jim to speak at your next event or devise an effective growth strategy email or call us at 719-649-4118 for availability.james@innothinkgroup.com

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Friday, April 13, 2012

Ways To Monitor Your Website to Keep Customers

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A staggering portion of the country’s consumer activity now happens in cyberspace. Last year, individuals spent nearly $227.6 billion shopping online. Though these customers have a multitude of e-retailers to choose from, they tend to stay loyal to businesses that offer consistently good online experiences.
That makes it more important than ever to measure the experience visitors have on your website. There are various approaches, both software- and appliance-based, that are generally known as real user monitoring (RUM) or end-user experience monitoring. Using such a system can mean the difference between loyal customers and lost sales. Here are a few more reasons to consider incorporating one into your service strategy:

1. A real user monitoring system is basically a smart stopwatch for e-business. It reports the time it takes to perform the requested action, as in transferring money from one bank account to another. This capability is a natural add-on to a technology investment such as application performance management. Look for IT vendors who package RUM with their systems at no additional cost, or check out free RUM software online.

2. Make sure all applications on your website function flawlessly all of the time. The failure of an online payment service, for example, can do hundreds of thousands of dollars’ worth of damage within hours. The long-term implications are even more serious. If customers cannot complete a transaction on their first visit to a website, they are unlikely to return when so many other alternatives exist.

3. Fix problems before customers complain. When RUM reports show slow load times or other deadlocks, use the data to pinpoint and repair the problem immediately, before it affects users. A RUM solution should deliver traffic streams from the client side, server side, and the network, so you can see whether a problem resides in the data center, the network, or the browser. via businessweek.com

Want to increase the sustainability of your nnovation initiatives or need a speaker? Contact us.

Jim Woods is president and founder of InnoThink Group. A leading consulting firm specialized solely in enabling organizations of all sizes in all industries develop top line growth through strategic innovation and hypercompetition. Jim has over 25 years consulting experience in working with small, mid size and Fortune 1000 companies.