Selling Ideas in Your Company? Be Ready for the Executive Inquisition

Download Selling Ideas in Your Company? Be Ready for the Executive Inquisition

Post on 28-Jul-2015

116 views

Category:

Leadership & Management

0 download

TRANSCRIPT

1. 2015 Planning Innovations www.planninginnovations.com Can You Survive the Executive Inquisition? The Secrets to Being a Savvy Corporate Innovator Dorian Simpson April 1 , 2014 2. 2015 Planning Innovations www.planninginnovations.com What BIG ideas are we talking about? New product or service? New approach to business? New types of customers? New technology? New application? Any idea that: Leads to growth or profit Is not part of the plan Needs funding and resources 3. Starbucks Offer advanced coffee-making kiosks for any location. Create packaging to absorb and release heat to make a latte a consistent temperature. We could detect you walked in the store and immediately prepare your beverage - prepaid. Off coffee subscription service like Netflix. Just pay Starbucks $24.99/month and get whatever you want 8 times a month! Etc. etc. etc. etc. We could 4. Corporate Innovation is Not Entrepreneurism Entrepreneurism Create the vision Create competency Many funding sources Self realization Personal risk ($Ks at stake) Incentive: Get rich Corporate Innovation Meet financial goals Leverage competency One funding source Self preservation Shareholder risk ($Bs at stake) Incentive: Thank you! 5. Part I Every great business or product starts with an idea Ideas come from everywhere. So whats the problem? 6. 2015 Planning Innovations www.planninginnovations.com Innovation is Really a Fight for Resources Bus./Manuf. Operations Product Development Mergers & Acquisitions Internal Startups Idea Funnel 1) Ideas 3) Results Problems. Trends. Technology. Revenue. Profit. Productivity. 2) Opportunities The Easy Part The Hard Part 7. 2015 Planning Innovations www.planninginnovations.com Innovation is Really a Fight for Resources Bus./Manuf. Operations Product Development Mergers & Acquisitions Internal Startups Idea Funnel 1) Ideas 3) Results Problems. Trends. Technology. Revenue. Profit. Productivity. 2) Opportunities To get your first morsel of funding 8. 2015 Planning Innovations www.planninginnovations.com SVP Sales CFO COO CMO CEO Innovator SVP R&D Look at this cool concept! Check out these features! Wheres the ROI data? Wheres your revenue forecast?? Wheres your market forecast? What are your expected COGS? What resource funding do you need? How will you manage risk? You Must Survive The Executive Inquisition 9. 2015 Planning Innovations www.planninginnovations.com How it can feel... 9 10. 2015 Planning Innovations www.planninginnovations.com Preparing Can Feel Like an Unsolvable Puzzle How am I supposed to prove my idea will be successful when it doesnt exist?? They just dont get it. 11. 2015 Planning Innovations www.planninginnovations.com Lets Say for Now You are an innovator for a consumer appliances company You have observed that bananas have a very small window of perfect ripeness. Eureka! The Perfect Banana! 11 12. Part I Can you solve the puzzle to survive the executive inquisition to move this idea forward? 13. 2015 Planning Innovations www.planninginnovations.com The Savvy Corporate Innovator Puzzle Challenge 13 14. 2015 Planning Innovations www.planninginnovations.com 19 Factors + a Wild Card = Funding Success 14 15. 2015 Planning Innovations www.planninginnovations.com What prevents idea acceptance? Opinions Were way too early! Momentum We dont do that. 1 2 Fear What if we fail?3 Skepticism That wont work.4 Personal Bias I wouldnt buy that.5 Biggest mistake innovators make? Not recognizing that innovation is a HUMAN Process 16. 2015 Planning Innovations www.planninginnovations.com #1 Specific Needs of Each Decision Maker 16 Understand the specific needs of each person behind the funding decisions 17. 2015 Planning Innovations www.planninginnovations.com #1 Specific Needs of Each Decision Maker 17 Understand the specific needs of each person behind the funding decisions Understand the specific needs of each person behind the funding decisions How does this fit with our corporate strategy? CEO What will our margins be in 2 years? CFO How the hell are we going to test this? CMO 18. 2015 Planning Innovations www.planninginnovations.com #2 The Right Data to Get Support 18 Understand the specific needs of each person behind the funding decisions 19. 2015 Planning Innovations www.planninginnovations.com #2 The Right Data to Get Support 19 Present data that supports your idea to the satisfaction of executives Ok.. But I need to know exactly how many people are trying to preserve bananas today Executive Says Look at all of this great data! Innovator Says 20. 2015 Planning Innovations www.planninginnovations.com #3 Real Customers that Say Yes! 20 Understand the specific needs of each person behind the funding decisions 21. 2015 Planning Innovations www.planninginnovations.com #3 Real Customers that Say Yes! 21 Provide solid data from 5+ targeted customers Customers throw out 30% of banana purchases worth over $200M. They need this product! Really? Prove it to me.. Show me exactly who wants to buy this Innovator Says Executive Says 22. 2015 Planning Innovations www.planninginnovations.com #4 Get Support for Approaches (not numbers) 22 Understand the specific needs of each person behind the funding decisions 23. 2015 Planning Innovations www.planninginnovations.com #4 Get Support for Approaches (not numbers) 23 Have gained support for your approach to forecasting revenue I used Bass Diffusion Modeling to estimate the market size at various prices! Innovator Says Executive Says I dont have time for this 24. 2015 Planning Innovations www.planninginnovations.com #5 Pre-sell! Remove Objections. Repeat. 24 Understand the specific needs of each person behind the funding decisions 25. 2015 Planning Innovations www.planninginnovations.com #5 Pre-sell! Remove Objections. Repeat. 25 Have gained support for your approach to forecasting revenue Pre-sell the idea to influential executives before the inquisition Not this. This. 26. 2015 Planning Innovations www.planninginnovations.com Which Pieces Are You Missing? 26 27. Part I Lets talk Personal Experience? Questions? 28. 2015 Planning Innovations www.planninginnovations.com The Book 28 30 Day Action Plan 5-Point Inspection Opportunity Portfolio Rapid Learning Cycles How to navigate complex innovation environments How to evaluate and communicate value, risk and forecasts Step-by-step plans to develop a compelling proposal in 30 days How to sell an idea to risk-averse executives How to identify and select the most promising ideas 29. 2015 Planning Innovations www.planninginnovations.com Lets Connect 29 30. Part I Thank You I hope you enjoy the book.