Innovation is good for your bank account, but you have to get certain things right. Our mission is to assist companies and investors to "make innovation easier and more profitable".
These are the (Summary of) Slides for the 2014 Small Company - Big Business Workshop Series. Please note that many slides are not self-explanatory, so if you've missed the workshop and are interested in the content or our assistance or services then please contact us.
Phone in Australia: 1300 037679
www.ICEBERG-Innovation.com
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ICEBERG Innovation - Summary of Slides for the 2014 Small Company - Big Business Workshop
1. It's not what we make,
it's what we make possible. ™
Presented by Robert Buhrke
(Founder and MD of ICEBERG Innovation)
1 September 2014 at the Hilton Hotel in Cairns
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3. 3
It is not the strongest of the
species that survive, nor the most
intelligent, but the one most
responsive to change.
Charles Darwin
4. WELCOME
TO
4
Using
INNOVATION
to “get in”
or “get an edge”
or get to the top!
5. •Something NEW or
NOVEL that has
VALUE and IMPACT
in the marketplace
•It can be so much
more than a new
product
What is INNOVATION?
5
6. Lookout for
• Short Intro
1. Innovation
• Some Basics
• Profits
• Techniques
2. Access to Funding
3. Tips & Case Study
Overview for today’s session
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7. About Robert
• Qualified Sparky (in EU)
• Dipl.-Ing. (MSc) Electrical and Computer Engineering
• Lived in DE, CA and AU
• 20+ years experience with New Product Development
• Innovation Expert, international clients
• 1st Innovation Coach in Australia
• Developed and pioneered 3 Innovation Programs for Gov
• Co-Founder of the Tropical Innovation Awards in Cairns
• well over 10,000 hours of practical Consulting
+ Commercialisation work experience
• LOVES small business and traveling (25+ countries)
• LOVES GREAT IDEAS & AWESOME PRODUCTS
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11. We assist business owners to
“Make Innovation easier & profitable”
through unlocking hidden value
1. Innovation Products & Services
2. Commercialisation Consultancy
3. Access to Capital
• Proven products, methods and tools
• Collaboration & Strong Partnerships
• Access to Technology & Manufacturing
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26. Why innovate?
61% of CEOs worldwide say that
INNOVATION IS A PRIORITY
(or a PRIMARY FOCUS) within their business.
So… what’s wrong with the other 39%?
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32. WHY INNOVATE?
• Solving a meaningful problem / Helping others
• Profit / Survival of the Company
• Revenue per Employee
• Cost & Risk Reduction
• Social and Environmental Benefits
• Sense of Achievement
• Retirement / Exit Plan
• … ?
34
35. Beyond creativity, ideas and
inventions…
What is a REAL INNOVATION?
1. typically something that has
impact and value in the marketplace
2. A profit driver & cash-cow!
3. It may have other benefits
e.g. cost savings, social or
environmental benefits
37
40. Different Types
of Innovation
Main Types
• Product
• Service
• Process
• Organisational
• Business Model Innovation
…
43
41. Tips
1. Focus on the customer!
• Pain or Problem
• Needs
• Wants
• Desires/Dreams?
2. Get a Phd!
(in your clients’ problems)
3. Combine different types
and levels of innovation
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42. Example: Evolution of a product
Hasn’t it been around a long, long time?
Version 1
45
65. For whom are we creating value? Who are our most important customers?
What is our customers’ major problem?
70
66. What value do we deliver to the customer? Which one of our customer’s
problems are we helping to solve? Which customer needs are we
satisfying? What bundles of products and services are we offering to each
Customer Segment?
71
67. Through which Channels do our Customer Segments want to be reached?
How are we reaching them now? How are our Channels integrated? Which
ones work best? Which ones are most cost-efficient? How are we
integrating them with customer routines?
72
68. What type of relationship does each of our Customer Segments expect us
to establish and maintain with them? Which ones have we established?
How costly are they?
How are they integrated with the rest of our business model?
73
69. For what value are our customers really willing to pay? For what do they
currently pay? How are they currently paying? How would they prefer to
pay? How much does each Revenue Stream contribute to overall revenues?
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70. What Key Resources do our Value Propositions require? Our Distribution
Channels? Customer Relationships? Revenue Streams?
Which assets are essential?
75
71. What Key Activities do our Value Propositions require? Our Distribution
Channels? Customer Relationships? Revenue Streams? Information
System? Logistic Platform?
76
72. Who are our Key Partners? Who are our key suppliers? Which Key
Resources are we acquiring from partners? Which Key Activities do
partners perform? Who do we rely on to run our business?
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73. What are the most important costs inherent in our business model? Which
Key Resources are most expensive? Which Key Activities are most
expensive? HR cost? Engineering cost? Manufacturing cost?
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75. Back to our real life example
Core VP
•Monetise an underutilized asset (house, room, castle)
• international easy-to-use platform
•Trust
• User reviews to establish credibility
• Providing insurance (just in case)
80
78. Some well-known (old) options
DEBT EQUITY
Family, Friends and Fools Family, Friends and Fools
Banks and Building Societies Business Angels
Overdrafts Venture Capital
Commercial Line of Credits Private Equity
Investment Banks Initial Public Offering
84
79. What are the
REAL OPTIONS?
1. Banks
2. Government
3. Crowdfunding
4. Investors
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80. Option 1:
You have to
• Pay interest
• Pay it back
• Have and offer security
86
86. CAPITAL (typically 200k to $5m)
other BENEFITS (not-so-visible for most people)
• interest-free and
• non-repayable Funds
= Asset (instead of debt)
• SMART Money
• Increased Credibility
• We can advertise
– you cannot
• Easier way to exit
Access to
• Funding Strategist
• Expert Lawyer
• Tools, Templates
• Secondary Share
Sales Platform
92
88. From the
Entrepreneurs
view:
1. No success with Angels
and VC’s especially rural
2. No success with
bank lending
3. No success with others
4. People don’t understand how
great the opportunity is
94
89. From the Investors view:
• It’s not what they want
• wrong niche, not their sweet spot
• not viable, money not right
• they don’t understand what the
opportunity is
• they can’t find your opportunity
• credibility is lacking
95
90. What do you need to raise capital?
• A passionate, credible and likeable TEAM
• At least one smart person in the team
• Ideally at least one charismatic person in the team
• High profit margins
• Clear value proposition + unique competitive advantage
• sustainable business model
• A good story and people to tell the story to
96
99. A good start is a proper company assessment
Ability to make money from ideas and innovation
Most profitable
companies
106
100. Does such an assessment really help?
107
It works for big and small companies – even for startups!
turnover in $m
101. Professional and detailed assessment:
Benefits
•Detailed Diagnosis (100p)
•Objective
•Identifies all key areas for improvement
•Future focussed
•Helpful to Raise Capital
109
105. Summary: Why innovate?
TOP REASONS:
1.profit and growth
2.competitiveness
3.increasing productivity
A smaller but growing proportion of businesses
innovate for social and environmental reasons.
117
107. Now let’s innovate
and build some cool
and valuable things
for your customers!
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108. A very good method (but it needs explaining)!
• See flipchart and
• Ask me in the workshop or
• let’s schedule a follow up session
120
109. Thank you for coming along!
If you need help, we’re just a phone call away.
Our Office Phone: 1300 037 679
Please ask for Robert Buhrke if you have any questions in regards to this presentation.
or you wish to follow up or discuss how we can help your company or project.
Alternatively contact us through our website at
www.ICEBERG-Innovation.com
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