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Today’s Purpose
                    • More PROFITABLE
                    products or services


     MATRIX
Teach a
Reliable System
for Accelerating
                      (new or improved)

                    • More PROFITABLE
                    customers & markets

Profitable Growth
Today’s Training Simulation
is about...


   MATRIX
MATRIX
History
1. Founded in 1989
2. By George P. Burdell after he was laid off
3. Created Red Devil Security System in his Garage
THE RED DEVIL
  Security System




MATRIXUnique Features
      • Cross Zone
      • Flash Memory
      • AES
      • Sleek Control Panel
THE RED DEVIL
                                Security System

Primary market is the 6,000,000 Small Businesses
                Misc. Small


MATRIX          Businesses
                                          Jewelry
                                          Stores




                  Consumers
THE RED DEVIL
          Security System
          Sales Trend
US Competition Cloned Us




MATRIX
                           China Competition
                           Introduced




  Won Bid
                                   Lean
  for Tiffanys                     Made Us Price
                                   Competitive
Owner and Founder
George P. Burdell


    MATRIX
Has gone to Hawaii to celebrate the
Lean Turnaround.

He’s not had a holiday since 1989.
THE RED DEVIL
  Security System
  Sales Trend




MATRIX
                    Today
MATRIX
The team has analysed what’s
happened ... and sent a report
to George...
We Need Ideas For

MATRIX
  PROFITABLE GROWTH

  5 Minutes
  to work with your team
…let’s see how George
  MATRIX
likes our ideas...
New products/services drive growth….
Growth Rate (%) vs No. New/Improved Products/Services in 3 year period




        MATRIX
New customers drive growth….
Average GROWTH RATE




                      MATRIX
                       Number of NEW CUSTOMERS over the past 3 years
What Makes This Program UNIQUE...




     MATRIX
Innovation Success Factors
Discovered by
REVERSE ENGINEERING
what separates winners from losers




        MATRIX
    4,000+ ideas were studied
    Over 2,000 Academic Journal Articles Reviewed
Process Success Factors
Discovered by
Quality Control Charting of




        MATRIX
    6,000+
    Innovation Teams
Its NOT about
Balance Sheets,
Accounting

   MATRIX
or Cost Control
Today is about changing your



     MATRIX
THINKING SYSTEM
for Accelerating Innovation
“94% of failures are
due to the SYSTEM
   MATRIX
6% are due to the
worker”
The FACTORY offers
3% of the Opportunity for
Company Improvement.
MATRIX
MATRIX
….why does innovation matter?
“If you’re not      Monopoly

unique you’d
    MATRIX
better be
cheap.”
        Doug Hall
                    Commodity
Quick Test for Meaningful Uniqueness
       Are your profit margins...


      10%    20%      50%
     MATRIX
higher than your industry?
   If not, then you are
 NOT meaningfully unique
Why the Focus on
PROFITABLE GROWTH?
Only 1 in 7

    MATRIX
small businesses
close leaving debt


  Over 80% Close Because
  “It’s not worth the effort”
today……..
 MATRIX
MATRIX
Profit 101
  MATRIX
= learning simulation
Challenge Programme
     MATRIX
applies the system to your business
Responsible for £1.5Bn in new
   MATRIX
products & services globally.
effectiveness endorsed by…



  MATRIX
6 Key Learning Concepts
      1. Dramatic Difference
      2. Overt Benefit Difference
      3. Real Reason to Believe Difference

  MATRIX
      4. Explore Stimulus
      5. Leverage Diversity
      6. Drive Out Fear
  Agenda --- Basic then ADVANCED
Your Simulation Workbook
      Put your name on it!
Everyone has a different COLOUR
  on the front of their workbook


MATRIX
  Notes from the presentation
are placed throughout the book
Why Are We Here?

  Why do we at Buzz Electronics
  need to change our system for

MATRIX
  accelerating profitable growth?
  10 Minutes
  to work individually
  & with your team



    Handout + Pages 4 & 5
Report Out!

thunderous applause
MATRIX
    guaranteed
6 Key Learning Concepts
      1. Dramatic Difference
      2. Overt Benefit Difference
      3. Real Reason to Believe Difference

  MATRIX
      4. Explore Stimulus
      5. Leverage Diversity
      6. Drive Out Fear
  Agenda --- Basic then ADVANCED
Dramatic Difference
  You TRIPLE your odds of success when
  you offer a DRAMATIC DIFFERENCE in
  Overt Benefit & Real Reason to Believe

       MATRIX
   Dramatic Difference


   Low Dramatic Difference
                                Probability of Success

                                       14%


   Medium Dramatic Difference                            40%


   High Dramatic Difference                                    53%
Average % Profit Margin vs Core Business Strategy
16




15




14




13




                MATRIX
12




11




10




 9




 8




 7




     Low Cost   Quick Delivery   Voice of Customer   High Quality          Innovation


                                                               Georgia Institute of Technology
                                                                                        n=738
370%
Greater chance

   MATRIX
of profitable
success for ideas
that are
Extremely/Very
Unique
RADICAL Innovation
        versus Incremental Innovation

  Company

     MATRIX
  Valuation


Marketing
                                    7X


Effectiveness                            9X
Companies That   It’s NOT the
Patent Grow       Certificate
5X Faster


    MATRIX
                   It’s the
                  MINDSET!
THE FIRST!
THE ONLY!
 MATRIX
   New Customers love

   NEWS & hope
6 Key Learning Concepts
      1. Dramatic Difference
      2. Overt Benefit Difference
      3. Real Reason to Believe Difference

  MATRIX
      4. Explore Stimulus
      5. Leverage Diversity
      6. Drive Out Fear
  Agenda --- Basic then ADVANCED
Overt Benefit Difference
You TRIPLE the effectiveness of
your marketing efforts by OVERTLY
communicating your customer benefit

   MATRIX
      Low Overt Benefit
                          Probability of Success

                                    13%


  Medium Overt Benefit                       26%


    High Overt Benefit                             38%
Features are not Benefits

  Features are the
     - Facts

 MATRIX
     - Figures
     - Technology
     - and Details
  That make up your offering
Benefits are…
WHY should I care?
   I = the customer
  MATRIX
 “Our product will make you
          Smarter...
          Faster...
          Healthier...”
MATRIX
feature         benefit
stabilisation   reduces
control         rollover risk
MATRIX
feature      benefit
quality      long-lasting &
wax blends   glossy shine
MATRIX
feature   benefit
On-Line   You Save More
Banking   with auto budget
MATRIX
feature           benefit
Contains          Fast Teething
Benzocaine 7.5%   Pain Relief
WHY should I care?
WHY should I care?
  MATRIX
WHY should I care?
WHY should I care?
WHY should I care?
Features to Benefits
  Turn 3 Unique Features
  of the Red Devil
  into OVERT Benefits


MATRIX
  Work individually then
  work with your team

  15 mins


                    Pages 6-7
Benefits are Relative
         to a

 MATRIX
 Specific Customer
Target


compete
In BBQ
       MATRIX
Audience =
Those who
             Cookshack Cookers
             Send You to The
Competitions Winners Circle      1,000+ Wins
NEW Target Audience
 Those who don’t compete

                WARNING

MATRIX         This Electric Cooker is
              ILLEGAL in Competitions

                It gives the user an
               UNFAIR ADVANTAGE
                as the even heating
                makes it too easy to
            Make Perfect BBQ Every Time
6 Key Learning Concepts
      1. Dramatic Difference
      2. Overt Benefit Difference
      3. Real Reason to Believe Difference

  MATRIX
      4. Explore Stimulus
      5. Leverage Diversity
      6. Drive Out Fear
  Agenda --- Basic then ADVANCED
Overt Benefit     Real Reason to
 Difference      Believe Difference




   MATRIX
gets customers    closes the sale
    excited
If you’re promising a
 BENEFIT DIFFERENCE
Then…
      MATRIX
You MUST Be Doing
SOMETHING DIFFERENTLY
 (i.e. have a “Reason to Believe” Difference)
Real Reason to Believe Difference
 You DOUBLE your odds of Success when you
 Communicate a REAL REASON TO BELIEVE
 That your OVERT BENEFIT will be delivered.


         MATRIX
       Real Reason To Believe


   Low Real Reason to Believe
                                   Probability of Success

                                            18%


   Medium Real Reason to Believe                    29%


   High Real Reason to Believe                              42%
if every company did what
   MATRIX
they promised…..
MATRIX
there would be no need for…..
“Real
Reason to
 MATRIX
Believe.”
93% of consumers do not have
   confidence in the advertising
messages of major corporations.
    MATRIX         -Yankelovich
64% of consumers do not believe
that the news media get their
   facts straight.

     MATRIX                   -Gallup
Your Overt Benefit Should…


 MATRIX
 DEMAND
Real Reason to Believe
It’s Simple


   BE REAL
 MATRIX&
 Tell the TRUTH
do what you promise.
The Truth


MATRIX
    Added 5 Words ...



“baked in not
painted on”
MATRIX
$20M
Growth
Five Strategies for adding
     Real Reason to Believe
                                             Probability of Success


      MATRIX
                                                 Holding all else constant

•       1. Tell the Truth                                  42%
        2. Testimonial                                     41%
        3. Pedigree (Methods, Materials)                   41%
        4. Data or Demonstration                           45%
        5. Guarantee (That’s “risky”)                      60%

         “risky” to you, not to the client
the TRUTH


  MATRIX
expert TESTIMONIAL


  The Service: Laser Vision Correction



           MATRIX
      The Benefit: Near Perfect Vision


          The Real Reason to Believe:
Testimonials from DOCTORS who have
    used this DOCTOR for Eye Surgery
PEDIGREE
 “Arguably the Best Whisky in
 the World.”
 Dave Broom
 Whisky Magazine

“The Greatest All Rounder in the

         MATRIX
World of Malt Whisky.”
Michael Jackson
Whisky Expert

“The world’s greatest distilled spirit
at the present time. Buy what ever
you can find.”
Paul Pacult
Spirit Journal Retaste 12.07
                                Overt Communication of
                               Pedigree Grew Sales 30%+
DEMONSTRATION




MATRIX
MATRIX
6 Key Learning Concepts
      1. Dramatic Difference
      2. Overt Benefit Difference
      3. Real Reason to Believe Difference

  MATRIX
      4. Explore Stimulus
      5. Leverage Diversity
      6. Drive Out Fear
  Agenda --- Basic then ADVANCED
Explore Stimulus
   • Uniqueness Mining
   • Customer Mining
   • Technology Mining


    MATRIX
Stimulus Available
    Low Stimulus
                     # of practical ideas invented
                            22


 Medium Stimulus                  38

    High Stimulus                       47
Stimulus 1 + 1 = 3

     +       =
MATRIX
      +       =
Traditional Model
                      draining
    Individual Brainstorming


  MATRIX
Before                     After




                  Suck Method
                   Uses Your Brain Like A
                      LIBRARY
COMPUTER



MATRIX
Stimuli sets off a CHAIN Reaction!!!
Where To Go On Holiday?




   MATRIX
Where To Go On Holiday?




MATRIX
Like when you FIRST started your
company or started your job…



    MATRIX
6 Key Learning Concepts
      1. Dramatic Difference
      2. Overt Benefit Difference
      3. Real Reason to Believe Difference

  MATRIX
      4. Explore Stimulus
      5. Leverage Diversity
      6. Drive Out Fear
  Agenda --- Basic then ADVANCED
Leverage Diversity
Diversity multiplies the impact of stimulus.



      MATRIX
Diversity of Thinking
      Low Diversity
                        # of practical ideas invented
                                19


   Medium Diversity                  30

      High Diversity                      46
Clones Create Clones


 What is a rose?       “Beauty”


      MATRIX           “Beauty”



                       “Beauty”
Diversity Multiplies
   Stimuli

                          “Beauty”
What is a rose?


      MATRIX              “Vitamin C Tea”



                          “Rose Water”



                          “Tango”
Leveraging
Diversity
  MATRIX
is not for
WIMPS!
STIMULUS MINING
    •   Customers
    •   Technologies

MATRIX
    •
    •
    •
        Suppliers
        Distributors
        Sales People
    •   Customer Service Complaints
DIVERSITY
              Finance          R&D




   MATRIX
Operations
                               Marketing


     Sales        Purchasing
breaks down internal silos
STIMULUS MINING

   Uniqueness Mining

MATRIX
 Customer Mining

          employees inputs
          Pages 8 & 9
For Example…

Uniqueness Mining
  MATRIX
Our sensors have tonnes
of extra memory



                    Idea...
Use the memory to add a
computer game to the system



  MATRIX
 Security System PLUS
    Mission Impossible Game
Buzz Ideas
  PAIR UP TO
  INVENT IDEAS
  for new


MATRIX
  PRODUCTS / SERVICES
  for BUZZ Electronics

  ON Pages 10 & 11
  using stimulus
  from pages 8 & 9       15mins
MATRIX
is not
a strategy
for success
MATRIX
What is it?
MATRIX
is not
a strategy
for success
CHALLENGE
The more Dramatically Different




 MATRIX
     CONFUSION
              The Greater The
Confusion                               Clarity
Barrier compositions and articles       Cancer-Safe Fast Food Tub
produced with the compositions
A stable, aqueous barrier coating
composition includes: (a) prolamine;
(b) cold water insoluble polymer; (c)
                                        The first biodegradable fast food
water; (d) water-soluble co-solvent;


          MATRIX
                                        sandwich container that provides
and (e) stabiliser. The composition,    grease protection without the
when applied to a substrate,            chemicals that have been found to
produces an article having a high       cause cancer.
surface energy and resistance to oil
and grease penetration. A method of
producing the article involves
applying the composition to a
substrate...
Hot Water Tap
Confusion
The finest quality tap available.                  Clarity
Made from heavy cast brass
patterns, copper tubing with         Our Industrial Water Taps...



           MATRIX
stainless steel and aluminium
accessories, these faucets are
designed, built and tested to last
                                     1. Provide 2 times greater flow
                                      19 vs. 6 gallons per minute at 25 psi


for the life of your plumbing
                                     2. Installs in half the time
system.                                Use a standard 1 3/8ths drill bit
                                       vs. Chiseling a 3 inch hole
They’re the BEST Available!
Half the Time

MATRIXDouble the
             Flow
Research finds
that you should….

Write So That A

       MATRIX
12 Year Old Can
Painlessly Understand
Your Idea
CLARITY is especially necessary with
        TECHNICAL Offerings




MATRIX
Geek    to   Geek         to
                                 Marketing
                               & Accounting
One or Two Benefits = 44% Success

Three or More Benefits = 37% Success


 MATRIX  Conclusion:
Do One Thing Great!
FOCUS - improves CLARITY



  MATRIX
  Free tasting of 24 flavors of jam.
FOCUS - improves CLARITY



  MATRIX
   Free tasting of 6 flavors of jam.
FOCUS - improves CLARITY



  MATRIX
                 6 flavors
    24 flavors   12 % Bought
    2 % Bought
Golden Rule of Clarity
Let a customer say NO…
because what you offer doesn’t apply to them.



      MATRIX
But NEVER let a customer say
NO because they don’t
understand what you’re offering.
Yellow Idea Card
 MATRIX
Our Focus:

New products / services
  MATRIX
for Buzz Electronics
MATRIX
you have 15 minutes…..
Buzz Ideas


  Team adds CLARITY


MATRIX
  Write idea on Yellow Card


  Use pages 12-13 as guidance
Why do we hope a miracle will occur?




    MATRIX
The Innovation Systems Way to Leverage Group Diversity



              1. INDIVIDUALS        2. CREATE with Partner
                 Explore STIMULUS      Leverage DIVERSITY


 10 Minutes

               MATRIX                         20 Minutes




                       3. LISTEN & LEARN from Team
                          Drive Out FEAR

        20 Minutes
Advanced
MATRIX
  Topics
Advanced
MATRIX
STIMULUS
Best Place To Look for Stimulus


Competitive
 / Customer

    MATRIX
    Scouting
 Technology         5X
   Scouting         More Effective




                       Journal of Product Innovation Management 2005;22:258
STIMULUS MINING
     Open Innovation

MATRIX
OPEN INNOVATION
      is the Future
  Old World                New World

  MATRIX
  All Smart People
 work for us and we
   do it all ourself
                        Connecting Outside means
                          85% Increase in R&D
                              productivity
 Not invented here         Reapply with Pride
We don’t partner with   Our biggest competitor is
    competitors          our biggest customer
OPEN INNOVATION



MATRIX
Companies are Desperate
Innovation Success is Poor
Only 4.5% of projects
meet ROI Goals
                         Success




        MATRIX
            Failure
           Boston Consulting
                Group              32% Odds versus 4.5% odds
They’re Turning to
OPEN INNOVATION
   To Accelerate Success




MATRIX
OPEN INNOVATION
      is the Future


  MATRIX
% of P&G
ideas from
outside the
company
“94% of failures
are due to the
   MATRIX
SYSTEM
6% are due to the
worker”
the three stages of the system…


                          Evaluate                  Launch
Create Ideas
                           Ideas

        MATRIX
                                                     Ideas



   A system for       A system for picking      A system for getting
 creating as many    ideas with the highest     ideas to market with
ideas as possible.   probability of success.   the minimum of time,
                                                  money and risk.
Some examples of Open Innovation Marketplace s
      Where Innovation Buyers, Sellers, Investors & Distributors
                       Speak the Same Language

            e.g. http://www.innovationsupplychain.com/



           MATRIX
Seller BENEFIT
60 Second
Business Credibility
Inventor’s ideas are taken more
                                          Buyer BENEFIT
                                          Smarter, Faster, Cheaper
                                          Innovation Development

                                          Companies can painlessly access a
                                          virtual Innovation Department that is as
seriously by companies because each
idea comes with an independent            much as 3X times more successful, 85%
research report and sales forecast that   more efficient and requires 50% less
can be understood in 60 seconds.          capital investment.
Remember...
                DIVERSITY
                 Finance          R&D




      MATRIX
   Operations
                                  Marketing


        Sales        Purchasing
   breaks down internal silos
Open Innovation
             Finance          R&D




   MATRIX
Operations
                              Marketing


     Sales       Purchasing


breaks down company walls
STIMULUS MINING
Open Innovation Mining
                           from the
                          Innovation


 MATRIX                  Marketplaces
                           on
                         Pages
                         14 & 15
Open Innovation
Stimulus

    MATRIX
Intelligent motion detector
that knows the difference
between humans & animals

                            Idea...
The Terminator


MATRIX
   The system
   also
   exterminates
   rodents!
WIPE YOUR
MIND CLEAN


    MATRIX
Create a FRESH Idea
Create a NEW Idea
Buzz Ideas
  PAIR UP to INVENT IDEAS
  for new PRODUCTS/ SERVICES
  for BUZZ ELECTRONICS


MATRIX
  ON Pages 16 & 17

  using Open Innovation
  stimulus from pages 14 & 15

                         15 mins
Lunch Break
    MATRIX
ADVANCED


Overt Benefit
MATRIX
   Topics
Customer Pull
   is about offering…
MATRIX
  CLEAR & SPECIFIC
Overt Benefit Advantages
Generic
 MATRIX
 Claim
It’s just as GENERIC as
“what makes us great is...”


MATRIX
Specific & Numeric Benefit Advantages

Overt Benefit Advantages . . .



   MATRIX
Clear Benefits . . .

Features . . .

Confusion . . .        Where are you?
A NUMBER
Increases odds
    MATRIX
 of success by
      52%
SPECIFIC & NUMERIC

 MATRIX
   Examples
Be Specific!




      MATRIX
SERVICE
“100% Delivery in 24 Hours we keep
inventory so you don’t have to”
Be Specific!

    QUALITY


MATRIX
    “Our SIMMS fishing
    wader zippers WORK -
    they’re the same quality
    as Air Force exposure
    suits.”
Be Specific!

   PEOPLE

MATRIX
   “Our service
   people
   get it right the first
   time - each has at
   least 10 years of
   experience”
Under extreme heat

MATRIX
   our Air Blasters
   produce up to 50%
   more force than
   competition.
“But my customers are only
  interested in low price!”


   MATRIX
Low Price is Specific & Numeric



        MATRIX
The only way to beat it is to

 OFFER MORE VALUE
Are You Catching a Theme?

“If you’re not meaningfully
   MATRIX
unique you’d better be
cheap.”
Buzz Ideas


  Team adds NUMBERS


MATRIX
  Write idea on YELLOW Card

  Use pages 18-19 as guidance
Vote at Table
Use ALL of your coins



    MATRIX
                    Where should
                    we Invest
                    George’s Money?



    To Accelerate Profitable Growth
Report Out!
thunderous applause
    guaranteed
MATRIX
REVIEW:YOURCULTURE


    MATRIX
Thoughts?
Ideas?
THINK:YOURCOMPANY


    MATRIX
Let’s use your homework.
Create a FRESH Idea
Create a NEW Idea
The Truth is...
    DRAMATICALLY DIFFERENT IDEAS



      MATRIX
      Cause Operational
      CHAOS       CHAOS
SOLUTION = Fix the SYSTEM

“94% of failures

  MATRIX
are due to the SYSTEM
6% are due to the
worker”
System Based on the
 Masters of Innovation….

MATRIX Up
     Start
            Companies
Start Ups Are…
The Real EXPERTS of Innovation Commercialisation




       MATRIX
% of Innovations
Still in Business after 3 years
The Simultaneous Engineering Approach

                1. Plan
                                              Product
       4. Act         2. Do
                                            Development
                3. Study




            MATRIX
 Fail Fast - Fail Cheap
                                            Rapid Cycles
                                              of Test &
                                               Learn


                                                            Business
                               Marketing
                                                              Model
                              Development
                                                           Development
How to START UP like a START UP




Open Innovation
  MATRIX
“Borrow don’t build or buy”
Manufacturing – Distribution Investment - Ideas
The SCOUT
                                        (project General Manager)
                      Is the HUB of the WHEEL
                    R&D / Engineering




MATRIX
Finance             SCOUT
                                            Market Research




Sales / Marketing
                                 Manufacturing / Operations
The RELAY RACE Approach
Doesn’t Work


   MATRIX
The Simultaneous Engineering Approach

                      Product
                    Development




     MATRIX         Rapid Cycles
                      of Test &
                       Learn


                                    Business
       Marketing
                                      Model
      Development
                                   Development
Innovation is about “Whack-a-Mole”

                      Product /
                       Service
                       Reality




MATRIX  Customer
                     Rapid Cycles
                       of Test &
                        Learn



                                      Profit
        Promise                      Formula
The Deming Cycle
               Scientific Method


     1. Plan

    MATRIX
4. Act    2. Do

    3. Study        “Fail Fast Fail Cheap
                          Get Smart”
Old World
    “Proper & Mature”
   Business Innovation
                                             Fail Fast - Fail Cheap
         System
                                                   Get Smart

   Expensive & Slow
                                          1. Plan                      1. Plan




 MATRIX1. Plan
2. Study
2. Study
2. Study
2. Study
                      2. Study
                      2. Study
                      2. Study
                      2. Study
                                 4. Act



                                          3. Study




                                          1. Plan
                                                     2. Do   4. Act



                                                                       3. Study




                                                                        1. Plan
                                                                                  2. Do




                                 4. Act              2. Do
           2. Study                                           4. Act               2. Do

           2. Study
           2. Study                       3. Study
                                                                        3. Study
           2. Study
Fail Fast
Fail Cheap
& Get Smart

   MATRIX
test with
vending
machines
Fail Fast
Fail Cheap
& Get Smart

   MATRIX
test at
trade shows
MATRIX
Approach
Focus on Biggest Threats or “Unknowns” First



        MATRIX                      KILLER
                                    Death Threat


      Small     Small     Small
      Problem   Problem   Problem
P&G Does the Same
Focus First On Project
Death Threats

     MATRIX
“Teams like to address easy issues first. At P&G we
have flipped the sequence. Teams must identify so-
called “killer issues” - problems that must be solved
for the innovation to succeed.”
                                           A.G. Lafley
                                                Retired CEO
Focus on Biggest Threats First
Turn KILLER Threats
Into Manageable Threats
                              1. Plan




       MATRIX
                              What Death
                              Threat?
                   4. Act
                   Apply               2. Do
                   Revise              Learn
                   Stop
                            3. Study
    KILLER                  What learned?


    Death Threat

                                               Manageable
                                                 Threat
MATRIX
MATRIX
MATRIX
Situation: Bill a home brewer thinks he's invented a
    beer that prevents hangovers. He uses a secret
    collection of herbs to make it work.




 MATRIX
Death Threats: Bill meets with an investor who
is interested in the idea. However, the
investor has identified two Death Threats that
he's asked Bill to address before he invests.


         1. Is it legal to sell it?
         2. Does it really work?
1. Is it legal to    2. Does it really
   Death Threat
                                     sell?               work?
            Ask for Advice     Ask the herb
Innovation Supply Chain
Customer Feedback              company to
 - Problem
 - Idea / Product              investigate
          Do the Numbers
•Estimate Sales




         MATRIX
•Estimate Cost
•Reduce Uncertainty
           Dig for Truths
•Data & Research Dig
• Technology & Patent Dig
• Inventor & Expert Dig

           Make it Real                            Test it with 10 people
•Feel the PAIN (Problem)
•Fast “Works Like” Prototype                       who typically get
•Fast “Looks Like” Prototype                       hangovers
We’re not trying for a TOTAL Solution

   Just trying to remove it from DEATH THREAT LIST




            MATRIX
        Give attention to the plate that is about to fall just
        enough to keep it spinning.
Buzz Plan
   THINK
   Fail Fast

MATRIX
   Fail Cheap
   Get Smart
   Methods
  15 Minutes
  to work as a team      Page 26
Report Out!
thunderous applause
    guaranteed
MATRIX
Some Ideas Get Accelerated NOW

But no ideas are

    MATRIX
THROWN
AWAY
Pipeline Management of Innovation


       High Probability        Correct
         Ideas (£/€)       Understanding of


   MATRIX
      =
      Medium Probability
         Ideas (£/€)

       Low Probability
                                Value


                           Max Chance of
                           Hitting Growth
         Ideas (£/€)        Targets From
                             Innovation
A Simple Pipeline Management System…
              Conservative Most Likely   Aggressive   Development Proprietary
  IDEA          Forecast    Forecast      Forecast       Status     Status      Trailblazer

 ACTIVE


Project #1        £0           £0           £0           1 to 5      1 to 5        name

Project #2

  Later


Project #3
             MATRIX
                  £0




                  £0
                               £0




                               £0
                                            £0




                                            £0
                                                         1 to 5




                                                         1 to 5
                                                                     1 to 5




                                                                     1 to 5
                                                                                   name




                                                                                   name


Project #4        £0           £0           £0           1 to 5      1 to 5        name


 TOTAL            £0           £0           £0         average      average
Good
 News
  MATRIX
Profitable Growth
is Not Random
Leading Profitable Growth
  1. Dramatic Difference
  2. Overt Benefit Difference


MATRIX
  3. Real Reason to Believe Difference

  4. Explore Stimulus
  5. Leverage Diversity
  6. Drive Out Fear
Challenge Programme
  MATRIX
 Applies the Learning
     In-Company
• Cross-border trade advice
        Whatissues of taxation, regulations, etc (see Simple Guide
     Dealing with
                    information we can
•   Sectoral reports
                           provide
      to Cross Border Business)


        In-depth reports on sectoral dynamics and cooperative



         MATRIX
        opportunities (eg: construction materials, agri-food, etc)
• Company leads/databases
       Details of potential leads by sector, size and region

• Size of the all-island marketplace
        Trade and business sentiment statistics to help companies take
        informed decisions (see http://www.intertradeireland.com/trade-
        statistics/ )
• Business Information Centre - specialised electronic databases for:

Business Information Centre and
• Company information: Search by location, size, activity to find
  potential customers, competitors or new suppliers
  Enterprise Europe Network
• Market Information: Market size, forecasts, channels to market, key
  players, and more




           MATRIX
• Enterprise Europe Network NI
   - one of over 500 contact points in Europe backed by the European
  Commission advising companies on EU
  legislation, programmes, opportunities, selling to the public sector

• To make an appointment: Tel: 028 9069 8135 E-mail:
  bic@investni.com
• See sector guides:
  http://www.investni.com/index/publications.htm?filter=S
  (Scroll to bottom)

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Red Devil Security System Growth Ideas

  • 1.
  • 2. Today’s Purpose • More PROFITABLE products or services MATRIX Teach a Reliable System for Accelerating (new or improved) • More PROFITABLE customers & markets Profitable Growth
  • 4. MATRIX History 1. Founded in 1989 2. By George P. Burdell after he was laid off 3. Created Red Devil Security System in his Garage
  • 5. THE RED DEVIL Security System MATRIXUnique Features • Cross Zone • Flash Memory • AES • Sleek Control Panel
  • 6. THE RED DEVIL Security System Primary market is the 6,000,000 Small Businesses Misc. Small MATRIX Businesses Jewelry Stores Consumers
  • 7. THE RED DEVIL Security System Sales Trend US Competition Cloned Us MATRIX China Competition Introduced Won Bid Lean for Tiffanys Made Us Price Competitive
  • 8. Owner and Founder George P. Burdell MATRIX Has gone to Hawaii to celebrate the Lean Turnaround. He’s not had a holiday since 1989.
  • 9. THE RED DEVIL Security System Sales Trend MATRIX Today
  • 10. MATRIX The team has analysed what’s happened ... and sent a report to George...
  • 11. We Need Ideas For MATRIX PROFITABLE GROWTH 5 Minutes to work with your team
  • 12. …let’s see how George MATRIX likes our ideas...
  • 13. New products/services drive growth…. Growth Rate (%) vs No. New/Improved Products/Services in 3 year period MATRIX
  • 14. New customers drive growth…. Average GROWTH RATE MATRIX Number of NEW CUSTOMERS over the past 3 years
  • 15. What Makes This Program UNIQUE... MATRIX
  • 16. Innovation Success Factors Discovered by REVERSE ENGINEERING what separates winners from losers MATRIX 4,000+ ideas were studied Over 2,000 Academic Journal Articles Reviewed
  • 17. Process Success Factors Discovered by Quality Control Charting of MATRIX 6,000+ Innovation Teams
  • 18. Its NOT about Balance Sheets, Accounting MATRIX or Cost Control
  • 19. Today is about changing your MATRIX THINKING SYSTEM for Accelerating Innovation
  • 20. “94% of failures are due to the SYSTEM MATRIX 6% are due to the worker”
  • 21. The FACTORY offers 3% of the Opportunity for Company Improvement. MATRIX
  • 23. “If you’re not Monopoly unique you’d MATRIX better be cheap.” Doug Hall Commodity
  • 24. Quick Test for Meaningful Uniqueness Are your profit margins... 10% 20% 50% MATRIX higher than your industry? If not, then you are NOT meaningfully unique
  • 25. Why the Focus on PROFITABLE GROWTH? Only 1 in 7 MATRIX small businesses close leaving debt Over 80% Close Because “It’s not worth the effort”
  • 28. Profit 101 MATRIX = learning simulation
  • 29. Challenge Programme MATRIX applies the system to your business
  • 30. Responsible for £1.5Bn in new MATRIX products & services globally.
  • 32. 6 Key Learning Concepts 1. Dramatic Difference 2. Overt Benefit Difference 3. Real Reason to Believe Difference MATRIX 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear Agenda --- Basic then ADVANCED
  • 33. Your Simulation Workbook Put your name on it! Everyone has a different COLOUR on the front of their workbook MATRIX Notes from the presentation are placed throughout the book
  • 34. Why Are We Here? Why do we at Buzz Electronics need to change our system for MATRIX accelerating profitable growth? 10 Minutes to work individually & with your team Handout + Pages 4 & 5
  • 36. 6 Key Learning Concepts 1. Dramatic Difference 2. Overt Benefit Difference 3. Real Reason to Believe Difference MATRIX 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear Agenda --- Basic then ADVANCED
  • 37. Dramatic Difference You TRIPLE your odds of success when you offer a DRAMATIC DIFFERENCE in Overt Benefit & Real Reason to Believe MATRIX Dramatic Difference Low Dramatic Difference Probability of Success 14% Medium Dramatic Difference 40% High Dramatic Difference 53%
  • 38. Average % Profit Margin vs Core Business Strategy 16 15 14 13 MATRIX 12 11 10 9 8 7 Low Cost Quick Delivery Voice of Customer High Quality Innovation Georgia Institute of Technology n=738
  • 39. 370% Greater chance MATRIX of profitable success for ideas that are Extremely/Very Unique
  • 40. RADICAL Innovation versus Incremental Innovation Company MATRIX Valuation Marketing 7X Effectiveness 9X
  • 41. Companies That It’s NOT the Patent Grow Certificate 5X Faster MATRIX It’s the MINDSET!
  • 42. THE FIRST! THE ONLY! MATRIX New Customers love NEWS & hope
  • 43. 6 Key Learning Concepts 1. Dramatic Difference 2. Overt Benefit Difference 3. Real Reason to Believe Difference MATRIX 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear Agenda --- Basic then ADVANCED
  • 44. Overt Benefit Difference You TRIPLE the effectiveness of your marketing efforts by OVERTLY communicating your customer benefit MATRIX Low Overt Benefit Probability of Success 13% Medium Overt Benefit 26% High Overt Benefit 38%
  • 45. Features are not Benefits Features are the - Facts MATRIX - Figures - Technology - and Details That make up your offering
  • 46. Benefits are… WHY should I care? I = the customer MATRIX “Our product will make you Smarter... Faster... Healthier...”
  • 47. MATRIX feature benefit stabilisation reduces control rollover risk
  • 48. MATRIX feature benefit quality long-lasting & wax blends glossy shine
  • 49. MATRIX feature benefit On-Line You Save More Banking with auto budget
  • 50. MATRIX feature benefit Contains Fast Teething Benzocaine 7.5% Pain Relief
  • 51. WHY should I care? WHY should I care? MATRIX WHY should I care? WHY should I care? WHY should I care?
  • 52. Features to Benefits Turn 3 Unique Features of the Red Devil into OVERT Benefits MATRIX Work individually then work with your team 15 mins Pages 6-7
  • 53. Benefits are Relative to a MATRIX Specific Customer
  • 54. Target compete In BBQ MATRIX Audience = Those who Cookshack Cookers Send You to The Competitions Winners Circle 1,000+ Wins
  • 55. NEW Target Audience Those who don’t compete WARNING MATRIX This Electric Cooker is ILLEGAL in Competitions It gives the user an UNFAIR ADVANTAGE as the even heating makes it too easy to Make Perfect BBQ Every Time
  • 56. 6 Key Learning Concepts 1. Dramatic Difference 2. Overt Benefit Difference 3. Real Reason to Believe Difference MATRIX 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear Agenda --- Basic then ADVANCED
  • 57. Overt Benefit Real Reason to Difference Believe Difference MATRIX gets customers closes the sale excited
  • 58. If you’re promising a BENEFIT DIFFERENCE Then… MATRIX You MUST Be Doing SOMETHING DIFFERENTLY (i.e. have a “Reason to Believe” Difference)
  • 59. Real Reason to Believe Difference You DOUBLE your odds of Success when you Communicate a REAL REASON TO BELIEVE That your OVERT BENEFIT will be delivered. MATRIX Real Reason To Believe Low Real Reason to Believe Probability of Success 18% Medium Real Reason to Believe 29% High Real Reason to Believe 42%
  • 60. if every company did what MATRIX they promised…..
  • 61. MATRIX there would be no need for…..
  • 63. 93% of consumers do not have confidence in the advertising messages of major corporations. MATRIX -Yankelovich
  • 64. 64% of consumers do not believe that the news media get their facts straight. MATRIX -Gallup
  • 65. Your Overt Benefit Should… MATRIX DEMAND Real Reason to Believe
  • 66. It’s Simple BE REAL MATRIX& Tell the TRUTH do what you promise.
  • 67. The Truth MATRIX Added 5 Words ... “baked in not painted on”
  • 69. Five Strategies for adding Real Reason to Believe Probability of Success MATRIX Holding all else constant • 1. Tell the Truth 42% 2. Testimonial 41% 3. Pedigree (Methods, Materials) 41% 4. Data or Demonstration 45% 5. Guarantee (That’s “risky”) 60% “risky” to you, not to the client
  • 70. the TRUTH MATRIX
  • 71. expert TESTIMONIAL The Service: Laser Vision Correction MATRIX The Benefit: Near Perfect Vision The Real Reason to Believe: Testimonials from DOCTORS who have used this DOCTOR for Eye Surgery
  • 72. PEDIGREE “Arguably the Best Whisky in the World.” Dave Broom Whisky Magazine “The Greatest All Rounder in the MATRIX World of Malt Whisky.” Michael Jackson Whisky Expert “The world’s greatest distilled spirit at the present time. Buy what ever you can find.” Paul Pacult Spirit Journal Retaste 12.07 Overt Communication of Pedigree Grew Sales 30%+
  • 75. 6 Key Learning Concepts 1. Dramatic Difference 2. Overt Benefit Difference 3. Real Reason to Believe Difference MATRIX 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear Agenda --- Basic then ADVANCED
  • 76. Explore Stimulus • Uniqueness Mining • Customer Mining • Technology Mining MATRIX Stimulus Available Low Stimulus # of practical ideas invented 22 Medium Stimulus 38 High Stimulus 47
  • 77. Stimulus 1 + 1 = 3 + = MATRIX + =
  • 78. Traditional Model draining Individual Brainstorming MATRIX Before After Suck Method Uses Your Brain Like A LIBRARY
  • 79. COMPUTER MATRIX Stimuli sets off a CHAIN Reaction!!!
  • 80. Where To Go On Holiday? MATRIX
  • 81. Where To Go On Holiday? MATRIX
  • 82. Like when you FIRST started your company or started your job… MATRIX
  • 83. 6 Key Learning Concepts 1. Dramatic Difference 2. Overt Benefit Difference 3. Real Reason to Believe Difference MATRIX 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear Agenda --- Basic then ADVANCED
  • 84. Leverage Diversity Diversity multiplies the impact of stimulus. MATRIX Diversity of Thinking Low Diversity # of practical ideas invented 19 Medium Diversity 30 High Diversity 46
  • 85. Clones Create Clones What is a rose? “Beauty” MATRIX “Beauty” “Beauty”
  • 86. Diversity Multiplies Stimuli “Beauty” What is a rose? MATRIX “Vitamin C Tea” “Rose Water” “Tango”
  • 88. STIMULUS MINING • Customers • Technologies MATRIX • • • Suppliers Distributors Sales People • Customer Service Complaints
  • 89. DIVERSITY Finance R&D MATRIX Operations Marketing Sales Purchasing breaks down internal silos
  • 90. STIMULUS MINING Uniqueness Mining MATRIX Customer Mining employees inputs Pages 8 & 9
  • 91. For Example… Uniqueness Mining MATRIX Our sensors have tonnes of extra memory Idea...
  • 92. Use the memory to add a computer game to the system MATRIX Security System PLUS Mission Impossible Game
  • 93. Buzz Ideas PAIR UP TO INVENT IDEAS for new MATRIX PRODUCTS / SERVICES for BUZZ Electronics ON Pages 10 & 11 using stimulus from pages 8 & 9 15mins
  • 97. CHALLENGE The more Dramatically Different MATRIX CONFUSION The Greater The
  • 98. Confusion Clarity Barrier compositions and articles Cancer-Safe Fast Food Tub produced with the compositions A stable, aqueous barrier coating composition includes: (a) prolamine; (b) cold water insoluble polymer; (c) The first biodegradable fast food water; (d) water-soluble co-solvent; MATRIX sandwich container that provides and (e) stabiliser. The composition, grease protection without the when applied to a substrate, chemicals that have been found to produces an article having a high cause cancer. surface energy and resistance to oil and grease penetration. A method of producing the article involves applying the composition to a substrate...
  • 99. Hot Water Tap Confusion The finest quality tap available. Clarity Made from heavy cast brass patterns, copper tubing with Our Industrial Water Taps... MATRIX stainless steel and aluminium accessories, these faucets are designed, built and tested to last 1. Provide 2 times greater flow 19 vs. 6 gallons per minute at 25 psi for the life of your plumbing 2. Installs in half the time system. Use a standard 1 3/8ths drill bit vs. Chiseling a 3 inch hole They’re the BEST Available!
  • 101. Research finds that you should…. Write So That A MATRIX 12 Year Old Can Painlessly Understand Your Idea
  • 102. CLARITY is especially necessary with TECHNICAL Offerings MATRIX Geek to Geek to Marketing & Accounting
  • 103. One or Two Benefits = 44% Success Three or More Benefits = 37% Success MATRIX Conclusion: Do One Thing Great!
  • 104. FOCUS - improves CLARITY MATRIX Free tasting of 24 flavors of jam.
  • 105. FOCUS - improves CLARITY MATRIX Free tasting of 6 flavors of jam.
  • 106. FOCUS - improves CLARITY MATRIX 6 flavors 24 flavors 12 % Bought 2 % Bought
  • 107. Golden Rule of Clarity Let a customer say NO… because what you offer doesn’t apply to them. MATRIX But NEVER let a customer say NO because they don’t understand what you’re offering.
  • 108. Yellow Idea Card MATRIX
  • 109. Our Focus: New products / services MATRIX for Buzz Electronics
  • 110. MATRIX you have 15 minutes…..
  • 111. Buzz Ideas Team adds CLARITY MATRIX Write idea on Yellow Card Use pages 12-13 as guidance
  • 112. Why do we hope a miracle will occur? MATRIX
  • 113. The Innovation Systems Way to Leverage Group Diversity 1. INDIVIDUALS 2. CREATE with Partner Explore STIMULUS Leverage DIVERSITY 10 Minutes MATRIX 20 Minutes 3. LISTEN & LEARN from Team Drive Out FEAR 20 Minutes
  • 116. Best Place To Look for Stimulus Competitive / Customer MATRIX Scouting Technology 5X Scouting More Effective Journal of Product Innovation Management 2005;22:258
  • 117. STIMULUS MINING Open Innovation MATRIX
  • 118. OPEN INNOVATION is the Future Old World New World MATRIX All Smart People work for us and we do it all ourself Connecting Outside means 85% Increase in R&D productivity Not invented here Reapply with Pride We don’t partner with Our biggest competitor is competitors our biggest customer
  • 120. Companies are Desperate Innovation Success is Poor Only 4.5% of projects meet ROI Goals Success MATRIX Failure Boston Consulting Group 32% Odds versus 4.5% odds
  • 121. They’re Turning to OPEN INNOVATION To Accelerate Success MATRIX
  • 122. OPEN INNOVATION is the Future MATRIX % of P&G ideas from outside the company
  • 123. “94% of failures are due to the MATRIX SYSTEM 6% are due to the worker”
  • 124. the three stages of the system… Evaluate Launch Create Ideas Ideas MATRIX Ideas A system for A system for picking A system for getting creating as many ideas with the highest ideas to market with ideas as possible. probability of success. the minimum of time, money and risk.
  • 125. Some examples of Open Innovation Marketplace s Where Innovation Buyers, Sellers, Investors & Distributors Speak the Same Language e.g. http://www.innovationsupplychain.com/ MATRIX Seller BENEFIT 60 Second Business Credibility Inventor’s ideas are taken more Buyer BENEFIT Smarter, Faster, Cheaper Innovation Development Companies can painlessly access a virtual Innovation Department that is as seriously by companies because each idea comes with an independent much as 3X times more successful, 85% research report and sales forecast that more efficient and requires 50% less can be understood in 60 seconds. capital investment.
  • 126. Remember... DIVERSITY Finance R&D MATRIX Operations Marketing Sales Purchasing breaks down internal silos
  • 127. Open Innovation Finance R&D MATRIX Operations Marketing Sales Purchasing breaks down company walls
  • 128. STIMULUS MINING Open Innovation Mining from the Innovation MATRIX Marketplaces on Pages 14 & 15
  • 129. Open Innovation Stimulus MATRIX Intelligent motion detector that knows the difference between humans & animals Idea...
  • 130. The Terminator MATRIX The system also exterminates rodents!
  • 131. WIPE YOUR MIND CLEAN MATRIX Create a FRESH Idea Create a NEW Idea
  • 132. Buzz Ideas PAIR UP to INVENT IDEAS for new PRODUCTS/ SERVICES for BUZZ ELECTRONICS MATRIX ON Pages 16 & 17 using Open Innovation stimulus from pages 14 & 15 15 mins
  • 133. Lunch Break MATRIX
  • 135. Customer Pull is about offering… MATRIX CLEAR & SPECIFIC Overt Benefit Advantages
  • 137. It’s just as GENERIC as “what makes us great is...” MATRIX
  • 138. Specific & Numeric Benefit Advantages Overt Benefit Advantages . . . MATRIX Clear Benefits . . . Features . . . Confusion . . . Where are you?
  • 139. A NUMBER Increases odds MATRIX of success by 52%
  • 140. SPECIFIC & NUMERIC MATRIX Examples
  • 141. Be Specific! MATRIX SERVICE “100% Delivery in 24 Hours we keep inventory so you don’t have to”
  • 142. Be Specific! QUALITY MATRIX “Our SIMMS fishing wader zippers WORK - they’re the same quality as Air Force exposure suits.”
  • 143. Be Specific! PEOPLE MATRIX “Our service people get it right the first time - each has at least 10 years of experience”
  • 144. Under extreme heat MATRIX our Air Blasters produce up to 50% more force than competition.
  • 145. “But my customers are only interested in low price!” MATRIX
  • 146. Low Price is Specific & Numeric MATRIX The only way to beat it is to OFFER MORE VALUE
  • 147. Are You Catching a Theme? “If you’re not meaningfully MATRIX unique you’d better be cheap.”
  • 148. Buzz Ideas Team adds NUMBERS MATRIX Write idea on YELLOW Card Use pages 18-19 as guidance
  • 149. Vote at Table Use ALL of your coins MATRIX Where should we Invest George’s Money? To Accelerate Profitable Growth
  • 150. Report Out! thunderous applause guaranteed MATRIX
  • 151. REVIEW:YOURCULTURE MATRIX Thoughts? Ideas?
  • 152. THINK:YOURCOMPANY MATRIX Let’s use your homework. Create a FRESH Idea Create a NEW Idea
  • 153. The Truth is... DRAMATICALLY DIFFERENT IDEAS MATRIX Cause Operational CHAOS CHAOS
  • 154. SOLUTION = Fix the SYSTEM “94% of failures MATRIX are due to the SYSTEM 6% are due to the worker”
  • 155. System Based on the Masters of Innovation…. MATRIX Up Start Companies
  • 156. Start Ups Are… The Real EXPERTS of Innovation Commercialisation MATRIX % of Innovations Still in Business after 3 years
  • 157. The Simultaneous Engineering Approach 1. Plan Product 4. Act 2. Do Development 3. Study MATRIX Fail Fast - Fail Cheap Rapid Cycles of Test & Learn Business Marketing Model Development Development
  • 158. How to START UP like a START UP Open Innovation MATRIX “Borrow don’t build or buy” Manufacturing – Distribution Investment - Ideas
  • 159. The SCOUT (project General Manager) Is the HUB of the WHEEL R&D / Engineering MATRIX Finance SCOUT Market Research Sales / Marketing Manufacturing / Operations
  • 160. The RELAY RACE Approach Doesn’t Work MATRIX
  • 161. The Simultaneous Engineering Approach Product Development MATRIX Rapid Cycles of Test & Learn Business Marketing Model Development Development
  • 162. Innovation is about “Whack-a-Mole” Product / Service Reality MATRIX Customer Rapid Cycles of Test & Learn Profit Promise Formula
  • 163. The Deming Cycle Scientific Method 1. Plan MATRIX 4. Act 2. Do 3. Study “Fail Fast Fail Cheap Get Smart”
  • 164. Old World “Proper & Mature” Business Innovation Fail Fast - Fail Cheap System Get Smart Expensive & Slow 1. Plan 1. Plan MATRIX1. Plan 2. Study 2. Study 2. Study 2. Study 2. Study 2. Study 2. Study 2. Study 4. Act 3. Study 1. Plan 2. Do 4. Act 3. Study 1. Plan 2. Do 4. Act 2. Do 2. Study 4. Act 2. Do 2. Study 2. Study 3. Study 3. Study 2. Study
  • 165. Fail Fast Fail Cheap & Get Smart MATRIX test with vending machines
  • 166. Fail Fast Fail Cheap & Get Smart MATRIX test at trade shows
  • 167. MATRIX
  • 168. Approach Focus on Biggest Threats or “Unknowns” First MATRIX KILLER Death Threat Small Small Small Problem Problem Problem
  • 169. P&G Does the Same Focus First On Project Death Threats MATRIX “Teams like to address easy issues first. At P&G we have flipped the sequence. Teams must identify so- called “killer issues” - problems that must be solved for the innovation to succeed.” A.G. Lafley Retired CEO
  • 170. Focus on Biggest Threats First Turn KILLER Threats Into Manageable Threats 1. Plan MATRIX What Death Threat? 4. Act Apply 2. Do Revise Learn Stop 3. Study KILLER What learned? Death Threat Manageable Threat
  • 171. MATRIX
  • 172. MATRIX
  • 173. MATRIX
  • 174. Situation: Bill a home brewer thinks he's invented a beer that prevents hangovers. He uses a secret collection of herbs to make it work. MATRIX Death Threats: Bill meets with an investor who is interested in the idea. However, the investor has identified two Death Threats that he's asked Bill to address before he invests. 1. Is it legal to sell it? 2. Does it really work?
  • 175. 1. Is it legal to 2. Does it really Death Threat sell? work? Ask for Advice Ask the herb Innovation Supply Chain Customer Feedback company to - Problem - Idea / Product investigate Do the Numbers •Estimate Sales MATRIX •Estimate Cost •Reduce Uncertainty Dig for Truths •Data & Research Dig • Technology & Patent Dig • Inventor & Expert Dig Make it Real Test it with 10 people •Feel the PAIN (Problem) •Fast “Works Like” Prototype who typically get •Fast “Looks Like” Prototype hangovers
  • 176. We’re not trying for a TOTAL Solution Just trying to remove it from DEATH THREAT LIST MATRIX Give attention to the plate that is about to fall just enough to keep it spinning.
  • 177. Buzz Plan THINK Fail Fast MATRIX Fail Cheap Get Smart Methods 15 Minutes to work as a team Page 26
  • 178. Report Out! thunderous applause guaranteed MATRIX
  • 179. Some Ideas Get Accelerated NOW But no ideas are MATRIX THROWN AWAY
  • 180. Pipeline Management of Innovation High Probability Correct Ideas (£/€) Understanding of MATRIX = Medium Probability Ideas (£/€) Low Probability Value Max Chance of Hitting Growth Ideas (£/€) Targets From Innovation
  • 181. A Simple Pipeline Management System… Conservative Most Likely Aggressive Development Proprietary IDEA Forecast Forecast Forecast Status Status Trailblazer ACTIVE Project #1 £0 £0 £0 1 to 5 1 to 5 name Project #2 Later Project #3 MATRIX £0 £0 £0 £0 £0 £0 1 to 5 1 to 5 1 to 5 1 to 5 name name Project #4 £0 £0 £0 1 to 5 1 to 5 name TOTAL £0 £0 £0 average average
  • 182. Good News MATRIX Profitable Growth is Not Random
  • 183. Leading Profitable Growth 1. Dramatic Difference 2. Overt Benefit Difference MATRIX 3. Real Reason to Believe Difference 4. Explore Stimulus 5. Leverage Diversity 6. Drive Out Fear
  • 184. Challenge Programme MATRIX Applies the Learning In-Company
  • 185. • Cross-border trade advice Whatissues of taxation, regulations, etc (see Simple Guide  Dealing with information we can • Sectoral reports provide to Cross Border Business)  In-depth reports on sectoral dynamics and cooperative MATRIX opportunities (eg: construction materials, agri-food, etc) • Company leads/databases  Details of potential leads by sector, size and region • Size of the all-island marketplace  Trade and business sentiment statistics to help companies take informed decisions (see http://www.intertradeireland.com/trade- statistics/ )
  • 186. • Business Information Centre - specialised electronic databases for: Business Information Centre and • Company information: Search by location, size, activity to find potential customers, competitors or new suppliers Enterprise Europe Network • Market Information: Market size, forecasts, channels to market, key players, and more MATRIX • Enterprise Europe Network NI - one of over 500 contact points in Europe backed by the European Commission advising companies on EU legislation, programmes, opportunities, selling to the public sector • To make an appointment: Tel: 028 9069 8135 E-mail: bic@investni.com • See sector guides: http://www.investni.com/index/publications.htm?filter=S (Scroll to bottom)