As you get close to your end of Q1, 2019 budget presentations, one thing becomes blindingly obvious: stakeholders don’t apply logic to targets and plans. If your stakeholders are also your investors – bad luck. They’re even less likely to be sympathetic to a plan that doesn’t return them a nailed-on guarantee that they can count in cash.
We paraphrase this by stating the case more precisely, and in a way stakeholders will understand. The same two definitions apply to companies that need to innovate…
…there are two kinds of companies; those that are doing well and those that aren’t.
In both cases, the answer is to see your situation differently and give the guys with the money a reason to behave differently too. After all, doing more of the same is madness.
The misunderstanding we encounter every day is that innovation is associated with the future. It isn’t – not entirely. Innovation is about making a difference to your business fortunes now – today – to future-proof your long-term.
Re-framing the opportunity
Here’s why the confusion exists. Talking about future trends and what could happen is just the start of a process; what matters more is how you choose to use the insight you gather. If your attitude to emerging trends is to plan a course of action against an unspecified timeline, stakeholders won’t buy this.
We understand it’s hard to get your peers onside when their priority is to hit a target. That’s why you need to re-frame signals that emerge from seeing trends early. The ability to show your colleagues strong signals of change in your market and the opportunities that emerge from this insight, has real power to convince people to change their view.
See it differently
room44 interprets emerging trends and makes them meaningful for you today, linking these developments back to your current condition. We deliver immediate return on investment. We take your existing business condition, introduce a customer perspective, and work with you so that your team can learn along the way. All our projects end with an actionable short, medium and long term plan, complete with a rationale.
Example of playing long and winning short
Here’s an example of the tangible and measurable effect that thinking long to win short can have.
In two weeks, our client had established a long-range strategic endpoint that extended its immediate reach into new storage solutions for sustainably-produced electricity. We produced a roadmap of small step developments to exploit emerging technologies as the market begins to accept the concepts. More importantly, the new commercial approach shortened payment terms, previously counted in months, to a mix of payment in advance and four-week terms.
If you want to quickly find out how ‘innovation ready’ you are, click here. The best way to start is to start.Your innovation audit starts here
Seeing it differently. Future-proofing. It’s what we do.