Charter
Innovation as a Service
To enable and accelerate new growth platforms for advanced technologies through the capital efficient practice of agile innovation.
The biggest challenge for a company is growth.
New Growth Platforms based on strategic innovation are key bets on a company’s future that often fail to meet expectations. Industry studies cite execution as the main problem with issues related to “strategy, structure, culture and capabilities”. It’s more than business as usual and often lies beyond the scope and comfort zone of the existing business. A core team being held accountable for annual financial targets can find it to be a source of disruption, stress and distraction.
Yet innovate you must. We’ve learned it takes a fundamentally different operating mode to successfully navigate the critical early stages of strategic innovation. Adaptability and diversity embedded in a foundation of relevant experience and entrepreneurial drive are more useful than standard processes for the existing business.
We’ve found it can be difficult for a company to guarantee priority for an optimal skill set. This led to the core charter of integrating key skill sets with a highly effective way-of-working for the challenge. An XTM. A resource capable of launching an initiative as well as securing the beachhead and keep the opportunity within reach while buying the time to facilitate an orderly integration with the existing portfolio.
IaaS. Entrepreneurial experience and expert navigation where you need it the most.
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Most companies have assets, ideas and opportunities to consider a new growth platform but lack the priority, bandwidth or entrepreneurial initiative to take on the risk of the unknown and compete effectively with the priorities of an annual operating plan.
“Strategic innovators are rare and hard to find.” *
An XTM delivers the business acumen and entrepreneurial drive to get the initiative up and running.
*(“Finding and Grooming Breakthrough Innovators” - HBR, Dec 2008)
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Time is money. Market potential has a limited window of opportunity. It only adds value if it can be realized within a meaningful time frame. Strategic innovation is vulnerable to both internal and external threats, The runway for a launch can get really short really fast.
“Innovation is not process driven, it is people driven.” **
An XTM prioritizes results driven learning over fixed plans and process to drive the initiative forward.
**(“How to Fire Up Innovation” - HBR, Mar 2015)
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Companies plan for what they know because they’re good at it. However, standard operating plans often contain unconfirmed expectations, assumptions and metrics which can compromise or derail a new initiative. The plan might then be used to document sunk cost with the ability to sink your strategic innovation before its potential can be realized.
“Time is money.”
Our way-of-working is designed to schedule the most efficient use of capital. The risk is addressed up front in the initial phases of an investment by placing critical priority on the unknowns. Mitigation efforts are reviewed and ranked to build confidence when and where it’s needed the most.
As an objective and critical external resource, we are devoid of any NIH or political influences and maintain the ability to recommend termination without prejudice if too many original assumptions are proven to be wrong. Either way, the ROI stands to be improved.
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The challenges of strategic innovation are best served by an optimal way-of-working with a high degree of diversity, adaptability and tolerance for risk. Active learning is featured in a flexible framework to generate insights and provide course correction as needed. Creative problem solving is a key success factor in addressing unforeseen roadblocks and to negotiate the inevitable tradeoffs in a timely manner to keep the program on track.
“There is no process for the unknown.”
An XTM is adept at navigating unknown territory with flexibility, focus and drive.
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Innovation takes place in all markets and industries.
Our experience is based on technology driven products and services.
Our Charter was developed through considerable experience down in the trenches and reviewed against current thought leadership. Additional comments on lessons learned can be found in Bridging the Gap and Insights.
Get in Touch to discuss the potential to enable and accelerate your venture.