Stimulus Mining Special Focus

Transcription

1 New Products & Services LEAD Current Customers - New Products & Services Mining Hints How can we dissolve our greatest weakness? If you were competing with yourself - what would you do? What is our greatest death threat to long term success? What is the obvious next generation industry change? What will eventually happen but no one is taking serious action on now? What technology is too expensive today - but delivers a big wow? What would give your competition heartburn? What is so unthinkable that they would be scared to do it? What would make our current offerings and competition s offerings obsolete? What Products/Services do Customers use with our offering What parts of the total solution that customers need - do we not provide Think Leading Edge Customers What customer sub-segment is willing to pay the most for an advanced solution? What customer sub-segment is small today but could be big tomorrow? What customers are UNDER SERVED? What customers have specialized needs that we ignore? What needs do our current customers have that we ignore? How can we reinvent to help our customers sell their customers? How could we get ahead of the innovation curve - and get to next generation sooner? How could we LEAD customers with technologies no one else has?

2 New Customers and Markets ADAPT for New Customers & Markets Who Else VALUES Our WOW! What are we GREAT at -- and who else would love that Wow What other industries do our vendors supply the same raw materials to? What Markets are Next Door What industries look like, feel like or are like ours - that we could explore? What market offers something that is an imperfect but functional option to our offering? What small part could we export with the greatest value? How could we sell the high value component and not commodity elements? What Intellectual Property - Trade Secret or Patent could we license? How could we add speed & customization to Win Back business? What industries are having problems with cycle times and customization ability? How could we reinvent to change and adapt faster than anyone in our industry? What customers do we miss because we offer too much? Who in the world can t use our offerings because they are too expensive or complex? How could we simplify our offering to reach a 10X larger market?

3 Sales and Marketing Message Sales and Marketing Message Innovation WHO has WHAT Problem? Confirm it s a meaningful problem that has no good solutions other than ours Explaining Our Uniqueness in a Customer Meaningful Way See, Feel and Experience the WOW that is our Meaningful Uniqueness What offering do you have that sells for less than it should sell for? Tell a Simple Story - Problem, Promise, Proof Make it a simple - and easy to understand story Make it so that a 5th grader can understand and appreciate your value advantage Translate Into A Persuasive Selling - Chalk Talk Break your story down into simple components Use analogy, diagrams and simple logic to make it a no brainer to understand Design A Rapid Cycle Test System Who and where can we test with quickly & cheaply? How can we quantify impacts & share learning quickly Drive for Quantity Develop 10 ways to tell the story of the same Yellow Card Fundamentals Never ending Fail FAST Fail CHEAP cycles of Learning

4 Sustainability Innovation Stimulus Mining Special Focus Sustainability Priority #1: REDUCE How can we use less to start? Where is there excess heat (energy) or waste (in dumpster, drains, air, water)? Where are we wasting money? How could we maximize the ratio of useful product to packaging waste? Treasure Hunt - steam traps, dumpster, excess heat, water waste Priority #2: REUSE How can we get the maximum value from every resource? How can we reuse the waste in a different part of the system? Treasure Hunt - process aids - pallets, etc - that we use again and again Priority #3: RECYCLE How can we Collect - Process - Reuse? Treasure hunt - waste that has a retained value to someone - somewhere RESTART DESIGN Start from a blank piece of paper and rebuild every offering for maximum sustainability Do the math - then implement Some Changes Now - and others for Next Generation Scenario Adventure - If cost didn t matter what is the ideal raw materials to use? Scenario Adventure - If cost didn t matter what is the ideal product process to use? Scenario Adventure - If customers would change habits - what s sustainable design? REINVENT OFFERING Reinvent materials, processes, design to maximize wow and minimize waste Do the math - then implement Some Changes Now - and others for Next Generation Scenario Adventure - If you had to be 100% sustainable what would you do Scenario Adventure - If energy costs went up 20X what would you do? Scenario Adventure - If packaging was taxed 20X what would you do? RETHINK LIFE CYCLE Rethink the total system from Raw Materials to Production to Use to Disposal How can we work with suppliers & customers to reduce waste in total system?

5 LEAN Innovation Optimize Customer VALUE WOWS Features that enable Meaningful Uniqueness The wow that drives our ability to get customers to pay more money for our offering Example: Our bigger engine allows us to tow more than any other truck FUTURE GOLD Features that enable next generation innovations Example: Overcapacity power supplies that support next generation innovation Example: Modularity that adds cost but adds flexibility COST OF ENTRY Fundamental features that are required for us to be a complete offering Stock features that if missing drive customer rejection Need to continuously revaluate - are we making an assumption that is not true anymore Example: If a soft drink came without sweeter - it would no longer be soft drink COST OF ENTRY Fundamental features that are required for us to be a complete offering Stock features that if missing drive customer rejection Need to continuously revaluate - are we making an assumption that is not true anymore Example: If a soft drink came without sweeter - it would no longer be soft drink WASTE When we introduce innovation we often are feature loaded - in time we find that we have over built. Features that are waste are those that are not wow s, future gold or cost of entry features Example: Having 200 color options when five options = 98% of sales. Optimize the Complete Yellow Card to increase Value & Profits Evaluate every efficiency improvement from the perspective of how it could be adapted to result in even small amounts of added value to one or more segments of customers. Reverse Thinking to Upgrade Increase Value & Profits What raw material, process or feature could we invest a little more time, energy or money in to improve customer value perception and our profitability.