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xTech – Part 1 – Why I’m fed up with tech

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xtech for Sector x Fintech is challenging the Finance sector Insurtech is challenging the Insurance sector Healthtech is challenging the Health sector Will we see Techtech challenging the Tech sector? And since new technology is developed every month and every year, would we be looking at a Techtechtech sector in a decade? It’s seems ludicrous to think of it that way and it is indeed ludicrous. The reason it sounds so odd to have a Techtech sector is that we’re allowing ourselves to be focussed on the technology that’s enabling us to replace the older business models. Analysis If you get a nice interface to your banking account and that bank account has a different charging model to the older high street banks, does that make it fintech? According to the hyped world, then yes. But it’s stilll banking. It’s […]

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Charging Admission as an Example of Changing Strategy

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We should all look at the thinking behind this article in Business Of Fashion; there’s a lot we can take away from it. It shows a level of innovation and shines light on so many values that we take for granted.   The Premise The author writes about the shift of a fashion store to charging customers a fee to enter the store. The argument is that the store is an entertainment experience and that we expect to pay for other places of entertainment, e.g. theatres, cinemas, etc, so shouldn’t we also expect to pay to go to fashion stores? So instead, we could charge admission not for the store but for the experience which happens to be in a store. There’s a distinction there in that most stores will not have an experience worth charging. Indeed, as the author mentions […]

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Further innovations in the musical instrument industry

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In a previous article, I wrote about TC Electronic and what we can see from the outside regarding their innovation process. Today, I’m introducing Fender’s approach to reducing churn.   Fender Musical Instruments have released a new training service called Fender Play, which has a different aim to the current Riffstation. The central idea behind Fender Play is to keep guitarists motivated to learn, by providing shorter lessons based around their favourite songs. Fast Company have a good introduction to the service, so I won’t repeat what they’ve already written. Instead, I want to highlight a few features that are of significance from a corporate innovation perspective. Attrition rate Two phrases from Andy Mooney, CEO of Fender Musical Instruments Corporation really struck home: “About 45% of the guitars that we sell every year are bought by an absolute beginner” “Somebody […]

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Where Do I Learn? – Part 1 – Podcasts

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I regularly listen to podcasts. If I’m travelling between clients, I’ll usually be listening to a stream of podcasts. Even when taking a shower or eating breakfast, I can have a podcast playing in the background. I used to listen to a lot of podcasts as I drove between client sites. The podcast format was ideal for the time behind the wheel and expand my thinking for the few hours that I was on the road. So I had a variety of subjects and presenters. Over time, I’ve narrowed the list down to : 1. Podcasts with a focus on sales I’m not from a sales background, although I have worked on bid teams, and pre and post sales teams. Yet I fully believe that a significant part of a consultant’s job, especially those such involved in innovation, business architecture, […]

That Pedal Show

Examples of Innovation in The Musical Instrument Industry

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I’ve embedded a video below of an interview on That Pedal Show with Tore from TC Electronic. The video includes several good examples of some parts of the corporation innovation process at TC Electronic. What I like about the video is that it’s a natural conversation. It’s not a presentation of how they’ve innovated, or what their innovation process is such as we normally see with Power Point presentations at conferences. Instead, we get to watch a conversation between the 3 speakers that starts with stories, then progresses onto product demonstration with some further stories and explanations thrown in. We get to hear Tore’s tales about how he introduced new concepts such as how he developed the Toneprint feature (where the signal to the pedal is passed from phone through guitar pickup) and the mash feature on the newly-released pedals. […]