The other day I sat down with one of our investments to discuss their potential future direction. It was an interesting and productive session with some key questions arising during the conversation. One of those discussions was around who the customer actually is?
If you’re developing a B2B solution, is your customer the company, you want to sell to, or the person(s) actually making the buying decision? The answer has huge implications. Because it has a big bearing on how you frame your value proposition, how you go to market and what you need to do to close deals and show value after the purpose.
My general opinion is that the more you can focus on the one customer – the actual person – the better. The more you try to put a value proposition together for companies and teams, the more watered down it risk being because you have to fit too many different needs into just a single box. When you focus on just Customer #1, you can be really razor-sharp. And that is exactly what you need.
Great teams succeed together. A team full of individual stars lacking coordination and communication between the various positions fail no matter how good and expensive they individually are.
If those things are true in sports, does it come as a surprise that it goes for corporate innovation as well? A great football manager knows that in order to be successful with the team you recruit for players who fit the team and style of play centered around a shared philosophy for how the team should play – and win.
Greg Satell does a good job of noting the reasons why most corporate innovation teams fail. I think in many cases it can be boilt down to team – or the lack thereoff. Instead of building new teams, you should be focusing on augmenting the strengths you already have that have made your company successful so far. Succeeding in innovation is and always will be a team effort.
It’s been a month since I joined inQvation Studio, and what a month it has been; fastpaced, fun and with a lot of excitement about the challenges and opportunities that lie ahead.
I have spent the month catching up on all the thinking that has gone into building the Studio idea. Furthermore I have been fortunate enough to be able to contribute to a couple of projects already, and I am very grateful of how that has turned out and the feedback, I have received. There are just cool, skilled, fun and generous people all over, and I never grow tired of people who passionately care about what we are all doing together.
On top of that we have spent some time getting bits and pieces in play that will help us in our exploration work going forward. Essentially we’re preparing for takeoff full well knowing that (more than) one or two things will go very differently than according to plan. The coming months will have us launch properly and will show whether we can make our trajectory. Based on the first month, I am very optimistic. Onwards and upwards.