Innovation
What is innovation? It’s a creative process that many companies believe they’re doing, but are they? Are you? How do you know whether you’re innovating? At StrategyWorx, innovation is really our core business. We think two steps ahead of our market, and are willing to throw out any preconceptions when the facts change, and do things in the way that makes sense now. We can help you break reinforcing cycles of stagnation, or to think in valuable new ways.
Product Development
An tool manufacturer with successful products at Walmart, Home Depot Lowe's and probably your garage was asked to submit new products and given additional shelf space. They hired us because they wanted to start with a blank slate and create a new customer experience unlike anything their competitors had. We helped them by facilitating brainstorming and new product development processes, winnowing 100 good ideas into 4 winning ones, resulting in their profitability increasing several multiples more than their market share. Each dollar invested produced better return.
Innovation Labs
Do the best ideas make it into your strategic plan or just the loudest? A client came to us to develop a 3-day Innovation Lab for all of their managers and wanted to evaluate and prioritize their portfolio of ideas based on value and merit rather than management title. We did that, and helped them create an idea system that empowered and energized their entire workforce, resulting in better ways to deliver products to the delight of customers and investors.
Building Innovation into a Core Competency
Do you have a system to constantly foster idea generation from every single employee? We provide tools to stimulate more ideas and evaluate and test those ideas in low-risk ways to produce an innovation pipeline where instead of struggling to come up with the next cool idea, you create one cool idea after another? And then, take the next step: turn them into your next product.
Process Design and Improvement
How outdated are your processes? Are they still relevant to what your company does now? Have they scaled well?Have your processes grown and adapted with your organization? For many, the answer is no, processes stopped evolving even when products and services continued to innovate. A client with the same problem had us map out “as is” and “to be” processes for their organization and then help the transition from the old to the new system. Profitability and productivity increased, time spent at the office decreased.
Game-Changing Growth Strategy
How similar is your strategic plan to that of your competitors? Does it feel like you’re using the same playbook? Most strategic plans are straight-line extrapolations from the previous year. But we live in a J-curve world and strategy today can’t be a continuation of yesterday’s outdated plan. Clients come to us because they wanted their competitors to try to catch them instead of the other way around.
Scenario Planning for the Future
What disruptions and discontinuities are brewing on your horizon? What problems will show up next year or the year after that you need to be working on right now? A client came to us because their future was uncertain. We developed four plausible future scenarios that could happen and identified early warning indicators to determine as soon as possible which scenario was becoming the future. When the future came, they were ready for it, and didn’t have any missteps continuing their already impressive growth.
Have a different issue? Do any of these situations sound like scenarios your organization faces? Contact us. Do you have an entirely different problem? We can help with that too. At StrategyWorx, we live and breathe innovation capability. Let us find a way to help you tap into yours. Tell us your problem, and we’ll tell you if we’re the right people to help.