growth innoavtions marketing slides 8.11.10

Discovering Prosperity in An

Economic Downturn….Growing Your Future

Copy Right: Growth Innovations 2009 1

Presented by:Bill McAdory

Growth Innovations Consulting

1Copy Right: Growth Innovations 2009

Underlying Concepts


Transformational Change

Business Innovation

Resulting in new Business

Success

Transformational Change• A shift in the business culture of an

organization resulting in a change in the underlying processes that the organization has used in the past. It is an inside out proposition beginning with the leadership and ending with the buy in of the rest of the organization.


Business Innovation• Innovation is a significant shift in

perspective, a concrete, measurable leap in your circumstances beyond your previous levels of accomplishment.

• Use of a new product, service, method or processes in business practice immediately subsequent to its discovery in order to monetize the innovation.


Learning Objectives• Understand why innovation is critical to your business

success NOW

• Understanding your company’s true capabilities that will translate innovative success NOW

• Identifying innovative opportunities that fit your company’s capabilities you can exploit NOW

• Creating and aligning a new strategy and business plan to leverage the new opportunities in the emerging economy NOW and in the future


Steps to Innovating Your Business

1. Understanding the macro and micro economic realities in your market(s); the reason to innovate

2. Understand why Business change is hard; you must overcome in order to innovate

3. Uncovering your core Business competencies and capabilities; that will become your keys to monetizing your innovative ideas

4. Creating a more robust and vibrant view of your business to leverage success

5. Understand how to identify innovation opportunities in this disruptive economy

6. Creating innovative action plans to exploit them


Growth InnovationsThe Innovation process:

– Proven models and concepts – Utilized by large corporations for years– Modified so small businesses can apply

them– A proven pathway to commercial

success!


How Opportunities Are Created

The Opportunity Continuum Opportunity Identification

Accessing Opportunities

Exploiting Opportunities

The Opportunity Flow


You Must Look Here!

Your Innovation Toolbox• Change: overcoming the obstacles to change

• Business Assessment: enabling you to see your business at a deeper level

• Core Business Competencies: what they are and why you MUST know yours; monetizing your core capabilities

• Traditional Business Tools - used in a new way: Market Intel, Competitive knowledge, Market & product strategies, business planning

• Opportunity Identification: How to uncover and target unseen or improbable opportunities for your business

• Follow-on: creating and working your plan for success and continuous improvement


The Most Severe Downturn In 26 Years!


What’s going on?This U.S. economic disruption is caused by the

confluence of two simultaneous events:

1. Fundamental changes in the global economy• Accelerated business life cycles• Low cost labor• Technological Innovations

2. Changed company reactions to the new global economy• A new frugal business climate; lower spending


What Must I Do?• Unfortunately, many are waiting for

the “turn around” to rescue them…this will not happen

• Society and the economy is returning to a new “normal”

• Do you know what and how?


Lessons from History

• 1945-1995– It was the best of times and the worst of times

• Busts (deep contractions) followed by predictable expansions led by large “to big to fail companies”

– It was unrealistic, and unsustainable• Major changes were happening in the global economy in

a way the U.S. or anyone else could predict or control

– It robbed people and businesses of their survival skills

• We were trained that patience was all we needed; things would eventually get better!


What’s The Future?• There is no longer a ubiquitous market for your

products/services

• In fact, there is not much of a market at all for some of us

• It’s now about identifying and pursuing “opportunity,” not simply “hoping or waiting for a recovery”

• Pursuing success can no longer be business as usual …it must be innovative, different for each company based on their unique blend of competencies and capabilities


Old Success Plan• Polishing the old business plan, products and services

• Keeping your current customers happy

• Leveraging the latest marketing and sales techniques

• Driving out unnecessary expenses and waste


The Old Success Plan• But, it is not working…• Do you really think 50% of small businesses in the

U.S. are concerned about survival because:– Their current product offerings are poor?– They are not using the latest marketing and sales

techniques?– They have not controlled expenses?– They have poor employees?– They have forgotten the magic words to speak in

order to retain customers?….they don’t have enough customers!


What Must I know?To be successful in today’s economy; • A company must have a clear understanding of the

disruptive changes that have taken place

• Know how to innovate new pathways for achieving success

• The broadest possible “version” of your business

• How to Connect a properly defined business with a larger, previously unseen opportunity space.


Where Are The Opportunities?Must See The Complete Market

$98 BB Regional

Latent

unseen

seen


Your Current Market

Un-articulate opportunity

To be created

Exploiting Opportunities “If you are not doing on a daily basis what IBM or P&G

are doing, you will fail” Michael Gerber, author and researcher

• What IBM and others do is live and breathe innovation in all aspects of their commercial life. They seek constantly to reinvent themselves and their products for continuous success.

• Remember faster life cycles? What got you here may not keep you here!

• Innovate or risk failure…it’s that simple.1919

Copy Right: Growth Innovations 2009

To succeed in the new environment you must be:

– Aligned intellectually and psychologically with today’s economic realities

– Deeply aware of your companies core competencies and capabilities

– Innovative in opportunity identification

– Creative in the use of traditional tools and techniques – Gaining firm control of your destiny


This Means You Must….• Reconnect - with your core business competencies

and capabilities

• Reconnect - with your survival instincts

• Re-learn - survival skills for today’s economy where; failure is not an option!

• Applying - the above in an Innovative way that fits your business


Some Do Not Want The Hassle• Change is certainly Not Stress Free

• Innovation and Implementing a new strategy is stressful

• But, losing your business is also STRESSFUL

• So, there is stress either way you go

• Question is…which stress do your prefer???


The New Reality• The U.S. is on the precipice of a new age…

– Like the last new age at the turn of the last century

– Immigrants from Europe shed the yoke of their past

– Purchasing a one way ticket to a new land of opportunity

– So too we must shed the yoke of the old paradigms and our dependency on them and have the courage, as our ancestors did,

– To purchase our one-way ticket to a new future…through innovation!


Summary• The world has changed• The fundamentals of our economy have

changed• The “old normal” is not returning anytime

soon• You must accept the changes to match the

new reality; whatever it takes• You must Innovate your business to be

successful in today’s economy• Now is the time to buy that one-way ticket!


Seeing differently, playing in the whole space; In control!

Infinite Opportunities

A Broader View of My Business

My Struggling Business

05/03/2023 Copy Right: Growth Innovations 2009 25

05/03/2023 26Copy Right: Growth Innovations 2009

Nothing But Blue Skies and Green Fields

Ahead!


Growth Innovations….Growing Your Future

[email protected]

513-703-5355

growth innoavtions marketing slides 8.11.10

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