startups - Artful Thinkers

May 29, 2013

Innovate Like a Lean Startup

Enterprise organizations are taking a rigorous look at the principles used in the Lean Startup movement. They are carefully considering how they can incorporate the approach for building and launching new products faster to increase revenues and reduce costs.

Why? Speed of innovation and time-to-market can translate to millions in revenue gained or millions in lost opportunity costs for organizations of every size. One known fact for product-based businesses is that the typical time for market development can no longer take years for planning to launch. Competitive forces require organizations to be in cycles of continuous improvement and a constant state of innovation.

Some businesses acquire other businesses to gain momentum, others set up lean approaches within their product development and design centers. If enterprises want to compete with the “young and restless” entrepreneur community, they need to consider moving faster in definition, development and bringing new products to market.

The father of the lean movement is Eric Ries, author of The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. The Lean Startup methodology promotes shorter product development cycles driven by experimentation and validated learning. Instead of waiting until the final product is “complete” before launch, the lean practice recommends to use iterative releases to confirm adoption and use cases for a minimum viable product.

The constant develop-release cycle provides for ongoing feedback to modify and pivot to meet buyer and user needs faster. The goal for this technique is to speed products to market, maximizing early product adoption cycles and capturing the most market opportunity. This all translates to revenue.

The risks associated to this approach are primarily related to creating products that seem to never be finished. Consumers must have a strong loyalty to stay committed to products that are always upgrading. Businesses have to evaluate the risk-rewards of being first to market with products that are viable and utilize the information gained in the customer feedback process during each release to keep customers happy.

The growing consideration of going lean for many business owners today is whether they do so through an M&A strategy or reorganization of the product development operation. “The only way to win is to learn faster than anyone else.” – Eric Ries

By Jamie Glass, President and CMO of Artful Thinkers, @jglass8

This article appeared in the CKS Advisors CKS Updates May 2013 Newsletter. Visit www.cksadvisors.com for additional information.

April 28, 2013

Innovation Arizona Summit is June 11, 2013

Network with hundreds of your peers while meeting up with incubators, accelerators, funders and investors, entrepreneur program groups, education and supporting growth organizations. The Innovation Arizona Summit, brought to you by MIT Enterprise Forum Phoenix and the Arizona Commerce Authority, takes place on June 11, 2013 at the Tempe Center of the Arts. A must-go affair for all startups, business leaders and innovators! Attendees will experience an event jam-packed with resources and experts committed to helping entrepreneurs.

Your ticket is the biggest opportunity from the organizations committed to helping you grow your business with the best advice, tips on what has worked and hasn’t worked, along with how to avoid pitfalls are in one place! Three featured presentations are open for all attendees. Registration is $25 plus $20 for entrepreneur breakout sessions or seven special sessions for only $75.

	Get you Ticket, RSVP Now! Click here for your ticket		Event Schedule – details here
	Exhibitors Information here		Sponsorships available – check out details here

August 19, 2012

Manage Your Influencers for Optimal Results

Key influencers play a critical role in every business. Decision makers are guarded and guided by inside and outside advisors and gatekeepers. How you manage your trusted advisors can help or harm your business.

Influencers know they have the power to change or compel action. It is the business leaders responsibility to validate and control the effect of influencers. Those who sit closest to authority and are granted permission to persuade, have a direct impact on your success. Do you know who is currently sitting at your table of influence?

In order to responsibly manage your influencers, take time to identify those that are in your inner circle and those effecting your judgement. Inside your business look at department heads, executives and even top revenue generators whose opinions impact your future. Who are your squeaky wheels? Are they helping you make better decisions for your business or slowing down how you operate? Influencers can be carriers of good and bad advice, they may be motivated by selfishness. It is up to you to vet, challenge and manage your influencers for optimal results.

One way of evaluating an influencer is to ask them what they believe are your highest priorities. Are they up-to-date on your current business plans and growth strategies? Do they know the profile of your most profitable customers? If not, it is the perfect opportunity to align your thinking. Define and clarify what is most important to you and your business. Let them know how they can help you.

To get the best results from your influencers, provide regular updates on business goals, initiatives, challenges and opportunities. Acting as gatekeepers, key influencers can open doors to new ideas, solution providers and even make introductions to customers. They also have the ability to close doors. As the final decision maker, you are ultimately responsible for those that make it through the “gate”. Challenge those that have the authority inside your business to say no. Know who they turned away and why.

Update your outside advisors quarterly about key initiatives and strategic objectives. These influencers, such as accountants, legal counsel, wealth managers, business consultants and top vendors are connected and often sources for essential referrals. They act as a conduit for information and potential services that can help you achieve your goals. If your influencers know your interests, they can better serve you.

Know that influencers get things done. They effect change. They make things happen. You need to know who they are and leverage them for maximum impact to your business. Lead influencers to your expected outcomes. Manage them for the best results.

Jamie Glass, Outsourced CMO and President of Artful Thinkers, a strategic sales and marketing consulting company and Sales & Marketing Services Managing Director at CKS Advisors.