Rapid Innovation Group Escape the City Workshop slides, 9 March 2013

www.rapidinnovation.co.uk@RapidInnovation

Escape the City

Workshop

9 March 2013


Who are we?

David Gates | @davidrig81

Simon Jackson | @saimeng

Jessica Tayenjam |@JessicaTayenjam

Rapid Innovation Group | @RapidInnovation


SHOP

What is a workshop?

WORK


SHOP

What is a workshop?


SHOP

What is a workshop?



Strategy & Metrics

1.What is strategy?

2.How do I figure it out?

3.Positioning statement exercise

4.Discussion


What is strategy?

The ‘kernel’ of good strategy

contains three elements: a

diagnosis, a guiding policy

and a set of coherent actions.

Richard P. Rumelt Good Strategy, Bad Strategy


Strategy is not …


Strategy is not …


So what does strategy mean?

• How do I compete?

• Where do I compete?


So what does strategy mean?

Diagnosis is analysis, not a description of

symptoms. You don’t go to your doctor to

be told you have a sore throat. You go to

be told you have an infection and that an

antibiotic will fix it. The doctor tries to

discover “what is really going on here?”

and the measure of his competence is his

ability to do that.John Kay ‘Avoiding fluff is surest route to success’ Financial Times


What are the elements of a business model?

• How do I create value?

• How do I deliver value?

• How do I capture value?


How do I identify my market?


Why bother?


Why bother?


Why bother?


Why bother?


How can I develop my strategy?

• Ask questions

• Focus

• Iterate


So what does this look like on

the ground?


Creating a positioning statement


Creating a positioning statement

• For – Target customers

• Who – Have the following problem

• Our product is a – Describe the product or solution

• That provides – Cite the breakthrough capability

• Unlike – Reference competition

• Our product – Describe the key point of competitive

differentiation


For example …


Thefacebook is for Harvard students who want to find

out more about and connect with their fellow students

– classmates, friends, friends of friends and more.

Thefacebook is an online platform that provides the

ability to set up personal profile and search, view and

connect with other profiles on the network.

Unlike paper facebooks, our product provides access to

profiles of students across Harvard and allows you to

customise and edit your information.

For example …


For example …


For example …

Glasses are for people with vision problems who are

tired of walking into doors.

Our product is a frame you attach to your face with

lenses for re-focusing light that allows you to see where

the door is and is not.

Unlike being led around by a small child, glasses will

not lead you into a door and think it’s funny.


Strategy Exercise


Discussion


How do I get my first

ten paying clients?








IDEAL

CUSTOMER

PROFILE



Circumstances Attributes

NEW LEGISLATION

RECENT CUSTOMER WIN

>50 EMPLOYEES

POLLUTING BUSINESS

PROCESSES

AGED 18-30

RECENT ACCIDENT

AT WORK

NEW FATHER


How do I engage the market?


Elements to engagement

Message Method

Attention-

grabberCall-to-action


Methods of engagement

• Direct mail

• Email

• Events

• Whitepapers and though pieces

• Network events

• Online networking

• Telemarketing

• Telesales

• Facebook

• LinkedIn

• Pay per click – Google / LinkedIn

• Organic search

• Distributors

• Consultants

Brian Carroll


Resourcing engagement

Effort

Ou

tpu

t

Irrelevant trade show

in the US

Google Adwords Lunch with all your

investment banking

friends

Your LinkedIn

Profile



Find

Your Model

Build

Your Capability

Realise

Your Value

Rapid Innovation Group

Business

Rapid Innovation Group Escape the City Workshop slides, 9 March 2013