Within a large company, an innovation project has just been launched. Within a start-up, the co-founders join forces to convert R&D results into a solution for the market. Should sales force be involved? The answer is ‘yes, of course’ in start-ups. It tends to be ‘no’ in big companies. This contrast raises questions about the […]
How can salesforce help innovation projects? Read Post »
Many start-ups, small or medium-sized companies are eager to grow through innovation. When uncertainty is high, for example about market demand for an innovative product or which market adoption lever is best, market research is a must-have. But the resources and skills required are often limited or non-existent. A well-conducted innovation market study should help
Innovation market study: How to make of it an experience that gives you strength? Read Post »
You run a business a market that is doomed to disappear, whether due to regulation, climate change, a geopolitical event, or because new solutions are rendering your offering obsolete. What can you do? Once the initial stages of grief have passed, two options emerge: • the traditional option, guided by financial criteria, • the entrepreneurial
The market is doomed : How to keep your company afloat? Read Post »
Well-established industrial companies that manufacture and sell under their own brand can tap into a source of profitability right at their feet: streamlining their product catalogue. But not all of them do so. What is holding them back? It is not simply about tackling industrial complexity using an Excel spreadsheet and a boilerplate method regurgitated
Trim your product catalogue and boost your competitiveness! Read Post »
Trucks, wind turbines, production machinery, boilers, software… these types of equipment require significant maintenance throughout their lifetime. For a company that designs and manufactures them, new equipment and maintenance activities are intertwined. But day-to-day operations are so different that they need to be managed separately.This can lead to lose sight of the strategic link between
Richard Branson, Xavier Niel, Sam Walton, and Ingvar Kamprad founded iconic companies: Virgin Group, Iliad/Free, Walmart, and Ikea. They all started their careers as salespeople. Often, top sales reps also share the same strengths as those attributed to successful entrepreneurs: boldness, flair, grit, tenacity, interpersonal skills, autonomy, nimbleness, and decisiveness. Should your salespeople have an
Should your sales forces have an entrepreneurial mindset? Read Post »
The cash shortage triggers a string of steps: factoring, delayed payment of suppliers, reduction of expenses, hiring freeze, additional approval level for expense requests, etc. Yet the crisis may linger or resurface. So, another round of financial belt-tightening? In the long run, the issue becomes a mental burden driving to a compulsive attention to certain
Cash-strapped? What about asking Sales & Marketing for a fix? Read Post »
In your industrial or tech company, many engineers work with customers. They are members of the engineering team, product developers, project managers or technical experts. They are not part of the sales team. What about asking them to get involved in the sales process? Under which conditions? To do what exactly? If properly designed, the
Can customer-facing engineers help with sales ? Read Post »
In industrial markets, sales representatives are usually in charge of a single product family. Yet several factors push towards a multi-product sales force: customers’ expectations for greater proximity, market demand for all-in-one, complex solutions, or competitive pressure. The company can also push in this direction, because it has expanded the product portfolio, or is eager
How to shift from a single-product to a multi-product sales forces? Read Post »
Your company has just made a complementary acquisition. It is extending its skills by buying either a supplier or a technology partner, and in all cases a company with a strong expertise. The two entities have different business models, because they have specific underlying skills, key assets, offerings and customers. So when you announce the
The strategic plan describes the company’s ambitions over a period of 3 years or more, and allocates resources to the projects that will make the greatest contribution to achieving them. It is a dense, difficult and tedious exercise. In view of the rapid changes taking place in the company’s environment, we may well wonder whether
Is it still worth making a strategic plan? Read Post »
Intangible assets account for 48% of the value of listed European companies. They include three key elements: Intellectual property, the company’s reputation, and its trademarks. All are long-term assets: a brand or reputation is built up over many years. A patent can be exploited for twenty years. Are they managed in a coordinated way? Generally
Your brand equity is a key card to innovate! Read Post »
The business model is a one-page description of the major aspects of a business: the target customers, the value proposition, the relationship with them, the critical activities, the key assets, the partners, the sources of revenue and the cost items. Reflecting on your business model is a great step when you’re looking for clarity and
How to manage several business models at the same time? Read Post »
Innovation competitions and calls for innovation projects have proliferated since the beginning of the 21st century. They allow the most innovative proposals to be selected and funded within a limited timeframe. While they offer significant efficiency benefits to the organisers, they are often disconnected from the heart of the company operations and from the real-life
Launch your own Customer Problem Beauty Contest! Read Post »
One of the editors of this article recently decided to change the blade on a gardening tool rather than replace the whole thing. The manufacturer offers a life warranty, and the spare part is available in the catalogue… perfect! Yet it turned out that after two months, a visit by car to a shop, a
Leaders, get to grips with industrial design and rise above your competitors! Read Post »
It goes without saying that business intelligence improves the relevance of decisions and strengthens a company’s ability to ward off threats and seize opportunities. Yet implementing an effective business intelligence system means making an uncomfortable series of choices between imperfect alternatives: Infobesity, or selective coverage? Maximum digitalisation, or smart craftsmanship? A matter for the few,
Business intelligence: Should you rely on your sales force? Read Post »
The decision to stop an innovation project is an uncomfortable one. What is at stake goes beyond the rationale for the decision and the consequences for project team members. And, if it is a major project, it may impact the company’s history. This decision is much more than a one-off judgement developed by management. It
Stopping an innovation project is still innovation! Read Post »
A McKinsey paper estimates that companies that focus on satisfying their existing customers grow twice as fast as others. And yet, who among those of you who works in an industrial company has not heard the sales forces lamenting: “we are a product-oriented company anyway”, or harsher: “the engineers have here all the power”? To
Can a product-centric company become customer-centric? Read Post »