Ten tools to create new growth opportunities Chapter 3 of The Idea Generator : Tools for Business Growth by Ken Hudson

Tool 3/1: Study unrelated industries LEARN ADAPT BORROW Can help to eliminate me too thinking Explore opportunities in other industries i.e. Some airlines testing of buy 10 get one free promotions Some of these ideas may need some modifications to fit with your industry or situation Sets up pipeline for more innovative solutions Application : pick an industry from a magazine or newspaper; scan for interesting products or ideas from that industry and then try to apply it to your industry; focus on core of idea not execution; repeat this process every month i.e. retail -> core -> work closely with suppliers -> facilitate business building meeting next month retail airlines Compare

LEARN ADAPT BORROW

Can help to eliminate me too thinking

Explore opportunities in other industries

i.e. Some airlines testing of buy 10 get one free promotions

Some of these ideas may need some modifications to fit with your industry or situation

Sets up pipeline for more innovative solutions

Application : pick an industry from a magazine or newspaper; scan for interesting products or ideas from that industry and then try to apply it to your industry; focus on core of idea not execution; repeat this process every month

i.e. retail -> core -> work closely with suppliers -> facilitate business building meeting next month

Tool 3/2: Design the perfect customer experience Leap in performance Imagine what the perfect experience would be i.e. post office that would be a joy to visit; friendly, helpful and full of surprises compare and contrast between current and perfect state; identify gaps and the address the gaps Application : describe the current state; imagine the perfect customer experience (HINT: use emotional language); compare and contrast; What do you need to do to build the perfect solution

Leap in performance

Imagine what the perfect experience would be

i.e. post office that would be a joy to visit; friendly, helpful and full of surprises

compare and contrast between current and perfect state; identify gaps and the address the gaps

Application : describe the current state; imagine the perfect customer experience (HINT: use emotional language); compare and contrast; What do you need to do to build the perfect solution

Tool 3/3: Place two unrelated things together Disrupt view and gives us a new lens Bringing two genuinely unrelated things together and forcing a connection Use two intersecting axes as primer Application : customers (x) = teenagers distribution channels (y) = university; change education policy to have juniors in high school attend college for a month to determine whether college is right for them Teenagers University X

Disrupt view and gives us a new lens

Bringing two genuinely unrelated things together and forcing a connection

Use two intersecting axes as primer

Application : customers (x) = teenagers distribution channels (y) = university; change education policy to have juniors in high school attend college for a month to determine whether college is right for them

Tool 3/4: Become one of your competitors Think of yourself as one of your competitors; what actions would I take in the next twelve months?; what new products would I develop in the next twelve months?; what new distribution channels? Prime exercise for a larger group Application : outline or chart current & future; direct and indirect competitors; current/direct other airlines; future/direct private jet services; future/indirect bus companies Bus companies Other airlines GE Private jet services Direct Indirect Future Current

Think of yourself as one of your competitors; what actions would I take in the next twelve months?; what new products would I develop in the next twelve months?; what new distribution channels?

Prime exercise for a larger group

Application : outline or chart current & future; direct and indirect competitors; current/direct other airlines; future/direct private jet services; future/indirect bus companies

Tool 3/5: Imagine your future landscape Imagine your operating landscape in 3-5 years Broader range of possibilities Where would you like your business or brand positioned? Who will be your competitors be? What will consumers want? i.e. think of printers -> young people buy products that are cool or hip -> might lead to a merger with Billabong Application: capture your current landscape under each of the following categories: customers, competition, channels, margins suppliers; now imagines a different landscape for each of these categories in 3 years; consider the impact on your brand or business; consider abrupt changes (i.e. in laws or competition)

Imagine your operating landscape in 3-5 years

Broader range of possibilities

Where would you like your business or brand positioned? Who will be your competitors be? What will consumers want?

i.e. think of printers -> young people buy products that are cool or hip -> might lead to a merger with Billabong

Application: capture your current landscape under each of the following categories: customers, competition, channels, margins suppliers; now imagines a different landscape for each of these categories in 3 years; consider the impact on your brand or business; consider abrupt changes (i.e. in laws or competition)

Tool 3/6: Become a fashion brand Think of a mindset change; think of your brand as a fashion statement i.e. mobile cell phones have become fashionable; mobile music players have become fashion accessories are you ahead of curve, up-to-date or just following trends? Application: think of as many fashion brands as you can in a few minutes (consider both female and male brands) i.e. Nokia, Apple, Chanel, Armani Select brand from the list; what can you learn; how does it stay relevant; how does it change between different national markets Answer: who is the fashion brand in your industry? How to become fashionable?

Think of a mindset change; think of your brand as a fashion statement

i.e. mobile cell phones have become fashionable; mobile music players have become fashion accessories

are you ahead of curve, up-to-date or just following trends?

Application: think of as many fashion brands as you can in a few minutes (consider both female and male brands)

i.e. Nokia, Apple, Chanel, Armani

Select brand from the list; what can you learn; how does it stay relevant; how does it change between different national markets

Answer: who is the fashion brand in your industry? How to become fashionable?

Tool 3/7: Make your product beautiful Make your products brands functional but beautiful in appearance i.e. items at consumer electronics show: toasters refrigerators Pleasing to the eye + good quality = real advantage Design is the new expectation Application: hire an interior decorator or architectural designer; hold a design competition for employees; ask consumers for ways to improve the design; visit art gallery or museum for ideas; talk to award winning designers

Make your products brands functional but beautiful in appearance

i.e. items at consumer electronics show: toasters refrigerators

Pleasing to the eye + good quality = real advantage

Design is the new expectation

Application: hire an interior decorator or architectural designer; hold a design competition for employees; ask consumers for ways to improve the design; visit art gallery or museum for ideas; talk to award winning designers

Tool 3/8: Get a win-win Work with your suppliers and partners Break cost mindset by asking: How can we both win? Change ground rules; get to solution that both parties can accept and or that benefit both parties Application: conduct a quarterly business building session with each of your key clients, suppliers and partners. Strive for new propositions that benefit both; be clear upfront what constitutes a win for both partners.

Work with your suppliers and partners

Break cost mindset by asking: How can we both win?

Change ground rules; get to solution that both parties can accept and or that benefit both parties

Application: conduct a quarterly business building session with each of your key clients, suppliers and partners. Strive for new propositions that benefit both; be clear upfront what constitutes a win for both partners.

Tool 3/9: Consider the never-evers By focusing on attracting defined customers, we limit growth potential To expand this base, ask: who are the people who never or rarely buy our product and what could we offer them? i.e. mobile phones are designed to be small and stylish; how might we make these phones appeal to the aging market; “built-in” safety devices, larger face, better speakers Application: List, at least, six groups of people who never/rarely use your products; try to make these groups as interesting as possible (i.e. unemployed, single parents, visually impaired, English as second language); if in a large group setting, give each of these groups to a smaller group; they come with propositions, and present to large group; decide on best offerings and test in 3-6 months.

By focusing on attracting defined customers, we limit growth potential

To expand this base, ask: who are the people who never or rarely buy our product and what could we offer them?

i.e. mobile phones are designed to be small and stylish; how might we make these phones appeal to the aging market; “built-in” safety devices, larger face, better speakers

Application: List, at least, six groups of people who never/rarely use your products; try to make these groups as interesting as possible (i.e. unemployed, single parents, visually impaired, English as second language); if in a large group setting, give each of these groups to a smaller group; they come with propositions, and present to large group; decide on best offerings and test in 3-6 months.

Tool 3/10: Expand your usage occasions Builds on Tool 9 How-to maximize consumption of product? i.e. cereal @ breakfast create new problem definition, think of when else you might use cereals i.e. McDonald’s = Drive-thru, McMenus Application: List five to seven occasions that you haven’t considered in the past (i.e. brunch, taking dog for a walk; Saturday night dinner party; watching your kids play sports on Saturday); use small teams to generate new propositions for specific usage occasions; ask team with best approach to develop action plans to test concept in 90 days

Builds on Tool 9

How-to maximize consumption of product?

i.e. cereal @ breakfast

create new problem definition, think of when else you might use cereals

i.e. McDonald’s = Drive-thru, McMenus

Application: List five to seven occasions that you haven’t considered in the past (i.e. brunch, taking dog for a walk; Saturday night dinner party; watching your kids play sports on Saturday); use small teams to generate new propositions for specific usage occasions; ask team with best approach to develop action plans to test concept in 90 days