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

Posted 1 CommentPosted in Articles, Innovation, Strategy

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

Posted Posted in Articles, Innovation, Service Redesign, Strategy

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 […]

The Kano model can operate in reverse: exploring the travel industry

Posted Posted in Articles, Innovation, Service Redesign, Strategy

You may have come across the Kano model before. It’s an analytical technique for understanding what your customers want and, importantly, what they’ve come to expect as required. Exploration I was travelling on a local train last week with a largely empty carriage. I had the choice of seats. I am familiar enough with these carriages to know that there are heating vents in blocks underneath every third row of seats, so I didn’t sit behind one of them. That way my feet would have somewhere to fit. So I a seat two rows behind. Then I noticed that my knees didn’t fit. Actually, couldn’t fit. I was seated as far back in the seat as I could go and still my legs could not fit straight in front of me. I had to resort to man-spreading (the shame of […]

Revised Revenue Vs Confidence 4 box model

4 box model for deciding on the future – part 2

Posted 1 CommentPosted in Articles, Innovation, Startups, Strategy

I finished the previous part of this article with a four box model that had two quadrants with the same outcome. With that article, I’d stated that the outcome you may want to choose would probably depend on the lifestyle you want to lead. That still applies, but I want to show what I do with similar four-box models The issue I don’t like when four-box models show opposite quadrants with the same outcome. The reason is that the quadrants are an approximation so we’ve blurred what we do with data points that fall around the centre (like around a bullseye) of the model. Imagine a point of x=49 and y=51, why should that be treated different to x=51 and y=51? or x=49 and y=49? How to interpret What we recognise is that if the diagonally-opposite quadrants are more a […]

RevenueVsConfidence

4 box model for deciding on the future – part 1

Posted 1 CommentPosted in Articles, Innovation, Startups

I regular make decisions about where I’m going to spend most of my working effort. A few years ago, I was sharing my ideas and potential options with a few friends and ex-colleagues. I used an extension to the typical four-box models. This simplified the thinking and forced me to recognise a few major questions that I’d been skirting around. I wasn’t short of ideas for businesses; some proven, some not. But I recognised I didn’t have enough time to do everything, nor enough available funding to pay others to do everything. Importantly, I didn’t have sufficient time or energy to chase funding to make all the ideas happen (and chasing too many would disqualify the ideas from most potential funders). Horizontal axis – annual revenue forecast I didn’t initially approach this in a mercenary way, but after trying a […]

guitar

Further innovations in the musical instrument industry

Posted Posted in Articles

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

Posted 1 CommentPosted in Articles, Innovation, Mentoring and Training

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, […]

Idea Post-its

Business Architect for Free*

Posted Posted in Articles, Innovation, Mentoring and Training, Methodology, Problem Solving, Service Redesign, Startups, Strategy

I’ve got some time in between clients where I’d like to contribute back or pay-it-forward. I’d like to donate my time for free and raise a bit for charity while I’m doing it. What’s the offer? You get a Business Architect for free* *What does free mean? You don’t pay for my time. Instead, you pay expenses (we can agree up front and they could end up being zero) + you make a donation to a registered charity (I’ll leave the amount up to you). You’ll get me for up to a day, plus time beforehand over email/messenger to discuss how to use that time. Alternatively, if you just want a chat in person/over Skype, I’m happy to get involved. This is open until Fri 25th August 2017 to one more company or organisation initially. I have one already booked in, […]

That Pedal Show

Examples of Innovation in The Musical Instrument Industry

Posted 1 CommentPosted in Articles, Innovation

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. […]

Lean Canvas

How the Lean Canvas Promotes the Sharing of Innovation Ideas

Posted Posted in Articles, Innovation

I had the great opportunity to see how different organisations approach short-scale corporate innovation, at the NWG Festival of Innovation (#NWGInnovationFestival) earlier this month. The Festival was set-up to resemble a summer festival, complete with the action happening in temporary tents around the racecourse. There were several different design sprints each in their own tent section, each tackling a different theme. The Challenge Walking through the different sprint rooms, it took time to understand what problem was being solved, how the team were approaching the solution and what was being designed. This took longer for some of the sprints than for others. In one particular group, understanding what the teams were doing was an amazingly easy and quick task. Stepping back, I noticed that each of the teams in that sprint room were using the same tool and they were […]