Pilot Fish: Clever Strategies for Meeting Planners by Peter Fisk at EMEC 2012

Peter FiskBudapest, January 2012

Summary … find out more at www.PilotFishLab.comMost businesses reach the point where further growth is difficult.Going beyond their existing markets is full of risks anduncertainty. Entering new markets, geographies or categories, isthe moment when many successful companies fail.“Pilot Fish“ is a strategy for more effective growth in today’sturbulent markets.The best opportunities for growth are in deep blue oceans, but fewsmaller companies are able to reach them, compete in them andthrive. Except the „pilot fish“ …small, special and very strong.However the most difficult part of growing a business is when youseek to enter new markets. They are hostile and different,demanding new knowledge and capabilities, and requiringsignificant investment and resources.“Pilot Fish“ strategies are counter intuitive. Instead of becomingbigger to grow, it is about remaining small. Rather thandiversifying into new products and services, it is about focusing onless to achieve more.In nature, pilot fish (naucrates ductor) swim with the big fish, doingthe things they can’t or don’t want to do, whilst being protectedand sustained. In business, “pilot fish“ work with strategic partnersproviding a small number of specialist ingredients, but with hugepotential scale. Cont …

Intel is the ultimate “pilot fish” attaching itself to the technology giants,becoming an indispensible component. Jibbitz created decorations toCrocs shoes and was acquired by latter for USD 20 million. So inaddition to create scaling opportunities, Pilot Fish strategy opens upgreat exit opportunities. And there are many others. Small, strong andspecialist companies that found that they can have huge impact throughfocus and partnership, doing less to achieve more.Like Estonian mobile phone operator EMT that has little chance tocompete against orange, Vodafone or alike but has lucrativeinternational business by providing roaming pre-paid cards to all of themajor telecom players. It also works at individual level: Cath Kidston,the designer grown through licensing from her kitchen and co-operating with Tesco, Nokia and others.If you are not big but you wish to swim with big, benefit from theirpresence and strength, you need to become a Pilot Fish. The processitself is simple:1. First you identify your core competence or experience – what is it that you are really good at?2. Then you search for a candidate, that might have a need for it.3. Then you manage your company and this relationship so that it is mutually beneficial.4. And then you decide, whether to make a next push to grow into “shark” or sell your business to one.Pilot Fish can help any kind of business to grow. This presentation isspecifically for meeting planners to grow their own businesses,however the concept can equally be used as a “total concept” for anevent for business too.

How will you grow your meetings business?

Most companies reach a point where growth is difficult ...

... entering new markets, geographies and categories ...

... is when many previously successful companies fail

New meetingsWhere are your biggest opportunities for growth?

New locations Entering new markets New meetingsWhere are your biggest opportunities for growth?

Entrepreneurs Product launches New locations Entering new markets New meetingsWhere are your biggest opportunities for growth?

Community building Entrepreneurs Product launches Virtual conferencing New locations Entering new markets New meetingsWhere are your biggest opportunities for growth?

eLearning Community building Managing change Entrepreneurs Product launches Driving innovation Virtual conferencing New locations Entering new markets New meetingsWhere are your biggest opportunities for growth?

But in the deep blue oceans of a changing world ...

... The big dangers are waiting for you

and in global markets ... everyone is hungry for new growth

Many companies turn to partnerships to survive ...

... working in partnership to add specialist capabilities

... working in partnership to reach new audiences

Higher impact Acquisition Licensing ? Joint Venture Alliances Co-Branding Exporting Consortia Co-Distributing Lower riskGrowth partnerships can take many different formats ...

So what about you? How should you grow?

Instead of competing against the big companies ...

... how can you learn to work with them?

Intel became the indispensible partner to PC manufacturers ...

... and Lycra became famous for its distinctive added value

Little fish who learnt to swim with the sharks ...

We call them ... pilot fish

pilot fish ... a new breed of business

Mutual support Uniquely different Growing togetherpilot fish ... a new breed of business

Growth is difficultbecome a pilot fish ?So how can you

1. Focus uniquelySo how can you become a pilot fish ?Growth is difficult

1. Focus uniquely 2. Find sharkSo how can you become a pilot fish ?Growth is difficult

1. Focus uniquely 2. Find shark 3. Grow togetherSo how can you become a pilot fish ?Growth is difficult

1. Focus uniquely 2. Find shark 3. Grow together 4. Realise valueSo how can you become a pilot fish ?Growth is difficult

1. Focus uniquely 2. Find shark 3. Grow together 4. Realise valuephase 1. Find your uniqueness ... what you can do better

Growth Differentiation What are your What are your most valuable strongest products? capabilities? Profit Strengthphase 1. Find your uniqueness ... what you can do betterWe know markets have changed forever ...

eLearning Community building Managing change Entrepreneurs Product launches Driving innovation Virtual conferencing New locations Entering new markets New meetingsFor example … Focus growth on new markets, eg China

eLearning Community building Managing change Entrepreneurs Product launches Driving innovation Virtual conferencing New locations Entering new markets New meetingsFor example … focus growth on entrepreneurs, eg start-ups

eLearning Community building Managing change Entrepreneurs Product launches Driving innovation Virtual conferencing New locations Entering new markets New meetingsFor example … focus growth on change management

pilot fish ... YKK

pilot fish ... Dolby

1. Focus uniquely 2. Find shark 3. Grow together 4. Realise valuephase 2. Find your shark - the right partner, the right market

Category Customer Countryphase 2. Find your shark ... Evaluating the adjacent marketsWe know markets have changed forever ...

Entering new markets Advertising Government Business Agency Bodies School You You YouFor example … Potential sharks to help you enter new markets

Entrepreneurs Government Bodies Business Magazine You You YouFor example…Potential sharks to help you reach entrepreneurs

Managing change Government Bodies Management Consultant You You YouFor example … Potential sharks to help you manage change

pilot fish ... Wieden+Kennedy

pilot fish ... Johnny Depp

1. Focus uniquely 2. Find shark 3. Grow together 4. Realise valuephase 3. Grow together ... Creating a symbiotic relationship

Adobe Acrobatphase 3. Grow together ... Creating symbiotic partnershipsWe know markets have changed forever ...

Entering new markets Advertising Agency YouFor example … How could you work together with your shark?

Entrepreneurs Advertising Agency Business Magazine YouFor example … How could you work together with your shark?

Managing Change Advertising Agency Management Business Consultant Magazine YouFor example … How could you work together with your shark?

pilot fish ... Adobe

pilot fish ... Visa

1. Focus uniquely 2. Find shark 3. Grow together 4. Realise valuephase 4. Realise the value ... the potential of pilot fish

Potential to double economic value within 5 yearsInc Revenue Red Costs Source : Impact of Intel strategic alliances 1995-2005, Wharton, plus other analysisphase 4.markets have changed forever ... profit, potentialWe know Realise the value ... cost, revenue,

Advertising Advertising Agency Agency Management Business Consultant Magazine Advertising Agency You Business You Magazine YouHow will you turn your best opportunities into better growth?

pilot fish ... Goretex

pilot fish ... WuXi PharmaTech

How can you win in your “blue ocean” opportunities?

... how can grow faster, cheaper and with less risk?

Become a pilot fish

pilot fish ... clever strategies for business growth

pilot fish pilot fish clever strategies for business growth

pilot fish

Pilot Fish is a total meeting concept … that can be customised by an event organiser for a client or localmarket … it is typically held as a one-day conference, followed by a one-day workshop, followed by physicaland online networking and support …Blue Seas is an inspirational event that presents the pilot fish idea. It will be delivered as “ready made” wherePilot Fish team: • creates a unique “aquarium” format • develops all the content: keynotes and talkshows • brings together experts and local contributors • designs and implements the visual and technical aspects of an event (if needed)Deep Dives are hands-on strategic workshops where pilot fish facilitators helpsmall mixed teams, in-house teams or individuals to create their own pilot fish strategyand implementation plan. Pilot Fish team provides: • unique process, and set of tools and templates • expert facilitators who understand the process and your markets • framework for unique pilot fish strategy of your business • international best practice and local market insightFish Nets take pilot fish strategy into action. These are intensive match-making events,both physical and viral, facilitated by our impartial experts who • bring together potential sharks and pilot fish • facilitate the right interactions based on your pilot fish strategy • explore options for pilot fish to enter new markets with help of sharks • help shark companies to find high value added pilot fish partners from your marketFind out more at www.PilotFishLab.com

peterfisk@peterfisk.comwww.PilotFishLab.com

Pilot Fish: Clever Strategies for Meeting Planners by Peter Fisk at EMEC 2012

by Peter Fisk on Jan 28, 2012

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Pilot Fish: Clever Strategies for Meeting Planners by Peter Fisk at EMEC 2012 — Presentation Transcript