THERE’S JUST MORE THAN The Little Light on the Left Wichert van Engelen Innovation-management & Consultancy

Change & Innovation Internal Objections External Restrictions Personal blockades Innovation in Financial Services Personal innovation

Internal Objections

External Restrictions

Personal blockades

Innovation in Financial Services

Personal innovation

Internal hurdles Not invented here IT-investments are scattered We first need a strategic vision We lack knowledge and experience We first need to re-organize Fatalism (ok, but we are not like Google) Short termism (the shareholder-value!!!) Our bright ideas will be stolen by others It’s not our core-business Too complex data-handling Our services are too complex, they only can be dealt with by personal advisors Our normal IT is not even on track

Not invented here

IT-investments are scattered

We first need a strategic vision

We lack knowledge and experience

We first need to re-organize

Fatalism (ok, but we are not like Google)

Short termism (the shareholder-value!!!)

Our bright ideas will be stolen by others

It’s not our core-business

Too complex data-handling

Our services are too complex, they only can be dealt with by personal advisors

Our normal IT is not even on track

External hurdles No market Not known by clients Cannibalism Use of internet by elderly Regulations, Laws and more regulations

No market

Not known by clients

Cannibalism

Use of internet by elderly

Regulations, Laws and more regulations

Buzz or now-or-never?

Yet ……

Disruptive innovation is mostly coming from outside Electronic typemachine -> IBM Consumer PC’s IBM -> Dell Digital music Sony -> Apple Digital Photography Kodak -> ….. Airlines … -> Easy, Virgin

Electronic typemachine -> IBM

Consumer PC’s IBM -> Dell

Digital music Sony -> Apple

Digital Photography Kodak -> …..

Airlines … -> Easy, Virgin

Competitors Non- local Non -financial Look behind you

Non- local

Non -financial

Look behind you

Post-offices sell financial products

Retailers sell financial products

Car manufacturers sell financial products

Direct sellers sell financial products

Virgin is everything and a bank

Zopa: peer-to-peer lending An online marketplace where people meet to lend and borrow has huge cost advantages which is why Zopa members get a fairer deal when it comes to their money. In Zopa’s wake, copycats such as Prosper in the US, Smava in Germany and Boober in the Netherlands have sprung up across the world. Social Lending is a financial category of genuine and increasing importance.

Social networks are the dominant internet hotspots Banks must be where the people are Where are You ?

Facebook: peer-to-peer Lending

Opportunities on Social networks financial services already launched on Facebook: Lending Club's person-to-person loan marketplace Prosper's lending game Wesabe's personal finance groups Pay Me , a payment service But so far, no : Bank, Credit union, Credit card issuer , Mortgage lender, Brokerage , Rates tracking service, Credit report monitoring service, Identity theft protection service

financial services already launched on Facebook:

Lending Club's person-to-person loan marketplace

Prosper's lending game

Wesabe's personal finance groups

Pay Me , a payment service

But so far, no : Bank, Credit union, Credit card issuer , Mortgage lender, Brokerage ,

Rates tracking service, Credit report monitoring

service, Identity theft protection service

Own your own bank in SL LindeX - the official Second Life Linden Dollar exchange.

E-bay en Google offer payments anywhere

Lown entrance walls

Ideeen Genoeg Slagvaardig innoveren in de dienstverlening

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisations: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisations: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisations: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisations: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

More of the same money Incremental Radical New Business creation Radical innovation in current business Continious improvements Fresh money

1% Innovation 99% Execution Grow by managing mature business efficiently and incremental improvements Invest in creating future growth engines Run and win the game Change the game

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisations: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisations: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Functionality Kills Creativity Kills Functionality

Functionality

Kills

Creativity

Kills

Functionality

Only implemented ideas will become part of history

Ideas in your organisation The last 4 months: How many ideas were rejected ?

The last 4 months:

How many ideas were rejected ?

No company ever grew to greatness by cutting costs. (Jack Welch)

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisations: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisations: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Customer Made Brand spaces Massclusivity Trendwatching.com No Frill Chic Infolust Futureguru.com Trendwatchers

In all likelihood, world inflation is over. CEO of IMF, 1959

Remote shopping, while entirely feasible, will flop, because women like to get out of the house … Time magazine, 1966

Man will not fly for 50 years. Wilbur Wright, 1901

It will be years not in my time – before a woman will become Prime Minister Magaret Thatcher, 1969

It will be years

not in my time –

before a woman

will become

Prime Minister

Magaret Thatcher, 1969

The Japanese auto industry isn’t likely to carve out a big share of the market. Business Week, aug 1968

I think there is a world market for maybe five computers. Cthomas Watson, CEO IBM 1943

The automobile has practically reached the limit of its development. Scientific American, 1909

640 K ought to be enough for anyone. Bill Gates, 1982

The possibilities of the aeroplane have been exhausted, we must turn elsewhere. Thomas Edison, 1895

There is no reason anyone would want a computer in their home. Ken Olson, founder of Digital Equipment Org. 1977

Who the hell wants to hear actors talk? H.N. Warner, Warner Bros, 1927

Everything that can be invented, has been invented. C.H. Duell, dir. US Patent Office, 1899

Trendwatching The future is non-predictable Sharpen your 8th sense: Look outside . Managers are keeping themselves busy with internal affairs Get yourself inspired , tickle your fantasy: less research Do not become old (-fashioned), stay in tune with the youth (and their language), think in chances and possibilities

The future is non-predictable

Sharpen your 8th sense:

Look outside . Managers are keeping themselves busy with internal affairs

Get yourself inspired , tickle your fantasy: less research

Do not become old (-fashioned), stay in tune with the youth (and their language), think in chances and possibilities

Looking at trends Vision Does the trend have the potential to influence or shape your company's vision ? New business concepts Can the trend point you to new business concepts , or entirely new ventures? New products, services, experiences Can the trend inspire you to add 'something' new for a certain customer segment ? Marketing, advertising, PR Will the trend help you speak the language of those consumers that are already 'living' a trend? Trendwatching.com

Vision

Does the trend have the potential to influence or shape your company's vision ?

New business concepts

Can the trend point you to new business concepts , or entirely new ventures?

New products, services, experiences

Can the trend inspire you to add 'something' new for a certain customer segment ?

Marketing, advertising, PR

Will the trend help you speak the language of those consumers that are already 'living' a trend?

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisations: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisations: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Yet….. Top always wants innovation, but choses: the well-known the short term

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisations: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisations: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Funnel 50 ideas 10 pilots 5 in production

Innovation: It’s not a funnel. It’s a dangerous journey, from idea to money along a lot of obstacles (Eddie Obeng)

Businesscase Businessmodel

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisation: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisation: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Target-setting Regular target-setting Targets to provoke innovation Specific predictable, plannable developments Less specific Flexible, freedom to experiment, incremental insights, search for knowledge Quantitative Measurable sharp focus Qualitative Possibilities Realistic conceivable realizable Provoking Inspiring, madness, over-the-top, discussion Loss & risc averse within frames: time, quality, budget Focus on succes Definition of succes

Specific

predictable, plannable developments

Less specific

Flexible, freedom to experiment, incremental insights, search for knowledge

Quantitative

Measurable sharp focus

Qualitative

Possibilities

Realistic

conceivable realizable

Provoking

Inspiring, madness, over-the-top, discussion

Loss & risc averse

within frames: time, quality, budget

Focus on succes

Definition of succes

Nine Thoughts Look for Fresh Money There are more than enough ideas Develop your eighth sense for the future Implementation is far more important than ideas To innovate you have to work structuraly non-structured Use the power of Now The organisation: a hybrid model Be aware of the game, the actors and their roles Just do it!

Look for Fresh Money

There are more than enough ideas

Develop your eighth sense for the future

Implementation is far more important than ideas

To innovate you have to work structuraly non-structured

Use the power of Now

The organisation: a hybrid model

Be aware of the game, the actors and their roles

Just do it!

Radicality Low High Low High Passion Graveyard Line organisation Sandpit Golden mountains

6948

Ships in harbour are safe. But that’s not what ships are built for . (Alan Ada)

Innovation need intrapreneurs Always be prepared to get fired Outrun bureaucracy Do whatever it takes , no matter your official function-description Don’t work alone, get supporters Only work with the best Stay under the radar as lons as possible Dare to get dirty hands Don’t ask for permission, ask for forgiveness Keep on dreaming , but be realistic about the route Involve your sponsors , and don’t forget to thank them

Always be prepared to get fired

Outrun bureaucracy

Do whatever it takes , no matter your official function-description

Don’t work alone, get supporters

Only work with the best

Stay under the radar as lons as possible

Dare to get dirty hands

Don’t ask for permission, ask for forgiveness

Keep on dreaming , but be realistic about the route

Involve your sponsors , and don’t forget to thank them

Nothing venture Nothing win (England, 15th century)

ING Questions?