This document provides an overview of a programme aimed at helping companies achieve ambitious business growth through innovation. It discusses key topics like increasing revenue through acquiring new customers, the importance of having a reliable and repeatable innovation system to improve success rates, and how the simultaneous engineering approach can accelerate products to market. The programme involves workshops covering business strategy, innovation system training, and intensive mentoring for selected companies to generate new ideas and commercialize at least one. Commitment is required from senior management and teams to fully participate.

2. Intro / Why are we here?
Matrix
Achieving Ambitious Business Growth Innovation Team
Breda Moore
Challenge: The Experience TE Labs
Matrix
Challenge: Programme Overview Innovation Team
Programme Application / Networking

3. Why are we here?
Aidan Gough |

4. “achieving ambitious
business growth”
Graeme Crombie & Jamie McCallum | Matrix Innovation Team

5. What strategic approaches
are most successful?

6. Define successful?

7. What strategic approaches
are most successful?
Turnover Growth Profitability

8. Turnover Growth
Q: What grows the top line most significantly?
A1: Increasing loyalty from existing customers.
A2: Getting new customers.

9. A2: Getting new customers.
Average GROWTH RATE
Number of NEW CUSTOMERS over the past 3 years

10. “number of customers was
found to be 2.8 times more
important than amount
bought per customer.”

11. Your existing customers can only….
EAT | DRINK | SPEND
so much!
Share of Share of Share of
stomach. throat. pocket.

12. You need more……
Stomachs. Throats. Pockets.

13. Turnover Growth
Growth Rate (%) vs No. New/Improved Products/Services in 3 year period

14. Profitability
Q: What’s the highest margin strategy?
A1: High quality.
A2: Quick turnaround.
A3: Low cost.
A4: Create regardless of market demand.
A5: Listen / Create around customer demand.

15. A4: Create regardless of market demand.
“If I had asked
my customers
what they
wanted, they’d
have said faster
horses.”
Henry Ford

16. A4: Create new regardless of market demand.
“If you’re not Monopoly
unique you’d
better be
cheap.”
Doug Hall
Commodity

17. Average % Profit Margin vs Core Business Strategy
16
15
14
13
12
11
10
9
8
7
Low Cost Quick Delivery Voice of Customer High Quality Innovation
Georgia Tech
n=738

18. Be honest about your growth aspirations……
£/€
Want to get to here?
New and Different
Same Old Stuff Normal Incremental
Growth Continues.
Sales stay the same.
Past Future
(now) 5 Years
Time

19. A4: Create new regardless of market demand.
“Insanity: Doing the same
thing over and over again
and expecting different
results.”
Albert Einstein

20. EXISTING NEW
PRODUCTS PRODUCTS
MARKETS
EXISTING
market product
penetration development
MARKETS
NEW
market unrelated
development diversification

21. Problem………
So if innovation is the key to achieving
the growth that companies desire. And
it’s at the top of the agenda of your
governments and support agencies….
what’s holding us back????

22. INNOVATION =
TIME | MONEY | RISK

23. Purchase Intent:
Meaningfulness
New & Different: Uniqueness

24. TIME | MONEY | RISK
= FEAR

25. FEAR =
NO CULTURE OF INNOVATION

26. Human error is high.

27. Humans <10%
success at picking
winning ideas.

28. Even fruit
machines
pay out 32%
of the time!

29. ANSWER
A Reliable & Repeatable Strategy
of Innovation Needs a System.

30. GOOD NEWS!
Through the
InterTradeIreland Challenge Programme
you will learn a highly effective system.

31. Responsible for £1.5Bn in new
products & services globally.

32. effectiveness endorsed by…

33. based solely on research into…
• The factors which make products/services
succeed or fail.
• The factors that make business
development teams effective.

34. by reverse engineering….
• Over 4,000 real products and services.
• Over 6,000 business development teams.

35. but don’t take our word for it….

36. [VIDEO MASH-UP]

37. Usual Company Systems Approach
Consumer / Concept R&D and Sales
Market Development Product/Supply Forecasting
Research Development Evaluation
Rework - Redo - Restart
Rework - Redo - Restart

38. Usual Company Systems Approach
• Typical marketplace success of 5-15%.
• Designed to deal with cost & risk.
• Reduces risk by holding ideas back from the
market.
• Ignores the biggest risk of missing the
opportunity.

39. The Simultaneous Engineering Approach
Product
Development
Rapid Cycles
of Test &
Learn
Business
Marketing
Model
Development
Development

40. The Simultaneous Engineering Approach
• Typical marketplace success of over 45%.
• Products accelerate to market in a fraction of
the time.
• Utilises “Fail Fast. Fail Cheap.” methodology
to kill costly losers dead ASAP.

41. What is Fail Fast Fail Cheap?
Death Threat!
= major unknown
1. With no time and no budget what can we
do to validate our concerns?
2. Result = Yes | No | Yes – with changes

42. the three challenge areas…
Evaluate Launch
Create Ideas
Ideas Ideas
A system for A system for picking A system for getting
creating as many ideas with the highest ideas to market with
ideas as possible. probability of success. the minimum of time,
money and risk.

43. the five stages of the I.E. system…
CREATE COMMUNICATE TOOLS
TOOLS
COMMERCIALISE TOOLS
1/3 (30 – 90 Days) 2/3
£ 5% £ 95%
sales
£
Fail Fast Fail Cheap
services •Concept •LPD •Faster
•Customer •Maths Model •Stagegate (6x)
•Problem (£ + Costs) •Design 6 σ
•Less Risk
•Promise •FFFC (30-80%)
•CREATE New •Proof •Threats
•Capture Existing •Difference (unknowns)
Ideas Define Discover Develop Deliver

44. Pipeline Management of Innovation
High Probability More Accurate
Ideas (£/€) Understanding of
Value
Medium Probability
Ideas (£/€) = Max Chance of
Hitting Growth
Low Probability
Ideas (£/€) Targets From
Innovation

45. Some Key Metrics to Measure Concept Value
• Number of potential customers.
• Strength of concept persuasion.
• Your own marketing capability/budget.
• First purchase revenue.
• Repeat Purchase Revenue.
• Frequency of first & repeat purchase.
• Life span of customer.
**Your confidence in all of the above.**

46. Also consider...
• Strategic fit.
• Internal Passion for the Idea

47. Some Key Learning Points
• New Products, Services, Customers & Markets that you are not delivering today
are the fastest way to achieve significant business growth.
• Meaningfully Dramatically Different products and services are the route to high
profit margins.
• Consistently faster, less risky growth from innovation requires an objective and
reproducible system – human gut feel has a poor record of success.
• Utilise real world test-and-learn to reduce levels of unknown and therefore risk.
Kill poor ideas quickly. Accelerate and evolve winners.
• Focus on the biggest issues first.
• Have a diverse innovation team.
• Leverage passion for ideas.

48. The Business Life Cycle
CONFRONT REALITY

49. Do you recognise...?
• Tonnes of ideas that float around forever and nothing ever
happens.
• Commercialisation is painfully slow and takes up huge amount
of time by very expensive people.
• Sector demands innovation, but we are bad at ideas.
• Ideas are always iterative, “me-too”, we follow the market and
react to customer demand.
• We “used to be innovative”, now we’re fast approaching
commodity and are being squeezed on price.

50. “challenge: the experience”
Dermot Dinan | DCM Compliance

51. “challenge: the experience”
Carson Mulholland | Fast Engineering Ltd.

52. “challenge: the experience”
Breda Moore | TE Laboratories Ltd.

53. “challenge: the experience”
Joseph Owens | Clada

54. Challenge Programme
Overview
Graeme Crombie & Jamie McCallum | Matrix Innovation Team

55. What you get…….

56. A max of 30 Selected Companies will get:
2 Full Day Workshops Covering:
• Business Strategy & Planning
• Innovation System Training
Plus
An innovation culture assessment gauging
your readiness to innovate.

57. A final 12 Selected Companies will get:
In-company intensive mentoring to output:
• 30 - 70 new ideas generated.
• At least one real new product/service/business
improvement idea being commercialised.
• Started the implementation of your own innovation
system to create ideas, pick high probability
winners and rapidly commercialise them on an
ongoing basis into the future.
• The documents and processes required.

58. What’s expected of you…..

59. You must be committed to:
• Senior management availability / attendance of workshops
on:
Dublin Belfast
6th & 14th of November 7th & 15th of November
• Commitment of your team with senior management support
to 6 days “contact” time over a period of 6 months. Plus
action delivery between 7-day cycles.
• Completion of a business growth plan for application to the
final stage.

60. Application Process:
Written Part Online Part
Application Form Innovation Audit Company Culture
Responsibility: Senior Manager Senior Manager All Staff
12:00 Noon 12:00 Noon
Deadline: TODAY
18th Oct 18th Oct

61. Application Time / Networking
Slides available from Thursday at:
www.intertradeireland.com/challenge/