When it comes to innovation, meetings don’t have a great reputation. Research compiled by TED shows that “50% of people find meetings to be unproductive” and “25% of meetings are spent discussing irrelevant issues.”
There’s real economic impact for bad meetings too. According to the same research from TED, “executives average 23 hours per week in meetings where 7.8 of those hours are unnecessary and poorly run, which is equal to 2 months per year wasted.”
Take a moment to imagine the cumulative impact of wasting 2 months for your team and business. Just the thought is legitimately scary.
“Don’t find customers for your products, find products for your customers.”
If you’re responsible for your company’s growth strategy, you probably already know how important it is to have a clear customer profile. When you have an intimate understanding of your customer’s wants and needs, you’re more likely to choose the right strategy to grow your business.
The constant socioeconomic shifts due to new technologies, cultural expectations, demographic changes, etc. also means customer needs are constantly evolving. Many companies have some sort of customer profile but the above shifts mean they might already be outdated.
The global pandemic…
This post is part of a series on useful business concepts to help build more resilient, innovative companies in the world.
The Hedgehog Concept comes from Jim Collins’ bestseller Good to Great: Why Some Companies Make the Leap and Others Don’t.
In the book, Collins shares insights that his team gathered across five years of research to try to understand what are the universal distinguishing characteristics that cause a company to go from good to great?
The research led him to 28 companies that outperformed the composite index of some of the world’s greatest companies including Coca-Cola, Intel, General Electric…
One of the most important things you’ll do early on when you’re designing a go-to-market strategy or launching a new offering is deciding on your target customer.
It’s an important first step because the customer you choose will also dictate how you build your product or service, and the way you market it.
At the same time, I know it can be a challenge to settle down on an ideal customer profile to work with!
If you’re launching something new, you might not have enough information about potential customer needs or you might not want to pigeon hole yourself to…
Space is a heck of a place to run into problems.
In the 1995 movie Apollo 13, there’s an iconic scene in which NASA Flight Director, Gene Kranz, (played by Ed Harris) draws a map of the Earth and Moon on a blackboard.
It had been two days into the mission when an oxygen tank failed aboard the spaceship causing an explosion in the main service module. Without the module operating, the crew had to move to the lunar landing module as a lifeboat.
In the scene, Kranz gathers the mission operations team and draws a map of the flight…
For the past few years, I’d had a nagging feeling that the work I’d been doing was not the work I was meant to be doing. I mean, I was pretty good at it and felt generously compensated for it, but it just never felt right. Maybe you’ve felt this before as well.
After spending a summer of conversations and reflections, I’ve decided to commit to the pivot. I’m calling it the “commivot.” (Okay, maybe there’s a better word for it!)
As anyone who’s made a career pivot before knows, it’s scary. …
Peter helps organizations bring their ideas to market using Design Sprint process developed by Google. He primarily works with EdTech and L&D organizations.