Unsure about how to plan to succeed in the 2020-2030 decade? Checkout our 10, 20-30 programme here.
10, 20-30 is a framework for delivering a future-proofed mindset to your team, business and lifecycle.
Why?
Every day, there’s a new disruptive business story, a new tech start-up raising millions to change something, someday.
On the flip side, and at the same time, there is regular reporting of start-ups and established firms going under. Uber loses a founder, WeWork takes a tumble and other unicorns report a year of negative returns and lose their shine. Sometimes, some things are too good to be true.
The reasons for missed ROI targets and, even closures, are many and various and all start with an assumption: you’re alright, because somebody will always need your paper, water, chocolate, steel work, cosmetics, legal services, financial advice, cars, office space…or will they?
But…
With a properly critical look at your future, at your consumer behaviours and your market, it’s possible to see what’s coming down the line to compete with you. And there will be something on your horizon that will cause some of your older revenue streams to dry up.
There it is. An uncomfortable truth maybe but one to watch none-the-less. With insight comes the opportunity to future-proof yourself.
So what?
Working with teams to create roadmaps to a profitable future, we can find that everything looks different.
You will define what your business is going to be. You’ll plot your path of baby steps so everyone knows what they must do from the minute they hear the plan.
We always make it clear that the output we create together isn’t a plan for someday: the output we generate by working with you is a plan you can use now.
Forecasts are guesses
As a process, ours is an easy one to understand. Pick a point in the future, use radical insight to inform what’s needed for that strategic end point to be viable and plot the product developments that will get you there. As far as ROI is concerned, you’ll have a general impression of size and shape.
However strong your forecasting function is, and we’ll probably disagree on that, they are guessing just as much as you are. Of course they have models and spreadsheets to justify their view of the world, but you have one thing they don’t – and that’s insight driven intuition.
This is the magic sauce that could bring your CSuite to the party.
Maybe you’ve heard of the ‘fuzzy front end’ or ‘future forecasting’. What they point to is a future sales figure that amounts to the same thing really: guesswork.
Intuition
Your senior management has been around long enough to get into the CSuite. They’ve worked through cycles of business to achieve the sort of insight that can only come with time served and they know, more often than not, what good looks like.
So, if you can’t get them involved in the actual process of innovation, it’s worth bouncing the odd ball down the board table to see where their interest lies, what sparks their excitement, and where their intuition makes them look.
Awareness vs trust
In the digital marketing rule book, we are told there are three phases to online marketing: awareness, trust and conversion. It’s the same across your business structure and vertically from bottom to top.
Being noticed isn’t the same as being trusted, but getting an innovation concept through the stage gates means tapping into what becomes a reason to believe.
This may sound a bit too much like pragmatism to be true innovation, but innovation ultimately is a matter of commercial survival.
Today, you need a plan. If you don’t know where to start, or how to sell it in to your CSuite, get in touch. We do.
In the meantime, you can download our free guide to ‘Selling innovation into your own company’ here and get detail of our 10, 20-30 programme here.
Future thinking. Future-proofing. It’s what we do.
Every day, there’s a new disruptive business story, a new tech start-up raising millions to change something, someday.
On the flip side, and at the same time, there is regular reporting of start-ups and established firms going under. Uber loses a founder, WeWork takes a tumble and other unicorns report a year of negative returns and lose their shine. Sometimes, some things are too good to be true.
The reasons for missed ROI targets and, even closures, are many and various and all start with an assumption: you’re alright, because somebody will always need your paper, water, chocolate, steel work, cosmetics, legal services, financial advice, cars, office space…or will they?
But…
With a properly critical look at your future, at your consumer behaviours and your market, it’s possible to see what’s coming down the line to compete with you. And there will be something on your horizon that will cause some of your older revenue streams to dry up.
There it is. An uncomfortable truth maybe but one to watch none-the-less. With insight comes the opportunity to future-proof yourself.
So what?
Working with teams to create roadmaps to a profitable future, we can find that everything looks different.
You will define what your business is going to be. You’ll plot your path of baby steps so everyone knows what they must do from the minute they hear the plan.
We always make it clear that the output we create together isn’t a plan for someday: the output we generate by working with you is a plan you can use now.
Forecasts are guesses
As a process, ours is an easy one to understand. Pick a point in the future, use radical insight to inform what’s needed for that strategic end point to be viable and plot the product developments that will get you there. As far as ROI is concerned, you’ll have a general impression of size and shape.
However strong your forecasting function is, and we’ll probably disagree on that, they are guessing just as much as you are. Of course they have models and spreadsheets to justify their view of the world, but you have one thing they don’t – and that’s insight driven intuition.
This is the magic sauce that could bring your CSuite to the party.
Maybe you’ve heard of the ‘fuzzy front end’ or ‘future forecasting’. What they point to is a future sales figure that amounts to the same thing really: guesswork.
Intuition
Your senior management has been around long enough to get into the CSuite. They’ve worked through cycles of business to achieve the sort of insight that can only come with time served and they know, more often than not, what good looks like.
So, if you can’t get them involved in the actual process of innovation, it’s worth bouncing the odd ball down the board table to see where their interest lies, what sparks their excitement, and where their intuition makes them look.
Awareness vs trust
In the digital marketing rule book, we are told there are three phases to online marketing: awareness, trust and conversion. It’s the same across your business structure and vertically from bottom to top.
Being noticed isn’t the same as being trusted, but getting an innovation concept through the stage gates means tapping into what becomes a reason to believe.
This may sound a bit too much like pragmatism to be true innovation, but innovation ultimately is a matter of commercial survival.
Today, you need a plan. If you don’t know where to start, or how to sell it in to your CSuite, get in touch. We do.
In the meantime, you can download our free guide to ‘Selling innovation into your own company’ here and checkout our 10, 20-30 programme here.
10, 20-30 is a framework for delivering a future-proofed mindset to your team, business and lifecycle.
Future thinking. Future-proofing. It’s what we do.
Retail space is display space. Not selling space.
It’s three years since British Home Stores went into administration. Three years, and so many signals that UK retail is not in a happy place, yet successive retail failures quickly followed. The demise of Toys ‘R’ Us and Maplins added to the signs that all was not well, but the reassuring voices of other major high-street names told us not to worry – they were on the case.
Long-standing brands are continuing to fall away, more quietly perhaps, but the rate of attrition is now established. This week, we learnt that Mothercare’s stores will follow Thomas Cook’s by soon vacating all their premises.
At the current rate, the UK is losing 110 retail stores per week from the ‘most popular town centres’, according to PwC. Sixteen a day. If you haven’t noticed yet, you’re either in a big city, or maybe you never had them in the first place.
Retail space is display space. Not selling space.
Shoppers are spoilt for choice when it comes to getting what they want at the cheapest-on-display price. Mothercare may have done a great job at displaying brands for parents -to-be to try, but why would they buy there?
The press accused Mothercare of being ‘expensive and grotty’ this week: neither of these things happens overnight. ‘Grotty’ happens when there isn’t enough money to refurbish, and ‘expensive’ happens when the competition has undercut you for so long that you need to sweat the maximum cash out of every sale.
Thomas Cook, apparently, hadn’t noticed that people don’t buy holidays from a brochure anymore. Maybe they’d never heard of Ceefax, let alone the internet. Mothercare didn’t understand its customers’ digital tendencies – or it chose to ignore them.
So, in the company of Jack Wills, Staples and Bonmarché, we’re likely to see another gap in the UK retail landscape this year.
Who loses?
You and me. I needed to buy a printer last week and I tried to do it by going to a store. It didn’t happen.
John Lewis was, frankly, atrocious. If customer service and a two-year guarantee are now their only USPs, I don’t see them surviving. Curry’s/PCWorld couldn’t sell me what I wanted and there just weren’t any alternatives. My town (@miltonkeynes) sits at the heart of the UK’s technology ‘Growth Arc’ and it seems more than a little ironic that basic products and services for the growing ‘technology’ population aren’t on sale.
As much as I hated to do it, necessity and convenience drove me to Amazon and my new printer arrived inside 48 hours.
Will this continue?
Should we expect more of the same? Should we get used to hearing ‘not another one’ when a high-street brand vanishes? Hell, yeah.
In the last month, we’ve met around eight SME businesses that won’t be in business in three years’ time. The signals of change are loud and clear, but the need to stay loyal to a founder’s vision has over-taken the acknowledgement of the blindingly obvious.
There’s even a networking business that has suspended one of its groups through a lack of interest. If ever there was a sign that grass-roots start-ups are pulling in their horns, this is it.
What are we doing about it?
It’s all very well sitting here and bleating about how bad things are, and how Amazon is taking over the world, but what is room44 doing about it?
Two things
Firstly, we’re diversifying and investing in a new activity stream. We’ve been writing about environmental matters for a long time and we’ve decided that we should do a bit more than talk the talk. We’re about to walk the walk as well (more about this later).
Secondly, we’ve built a product that will help companies, like yours, plan to outlast your competition and thrive in a tough market. It’s called 10, 20-30. Together we will build product launches to take you through the next decade and provide you with the tools to launch at least one per year, so you stay relevant in a changing market.
Because we take seriously our capacity to deliver quality, it’s only available to a limited number of clients. Take a look at the 10, 20-30 proposition here and get in touch if you’d like to know more.
Thanks for reading and, if we don’t speak, good luck.
Future thinking. Future-proofing. It’s what we do.
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