Stephen Moore in top 5% of Linkedin Profiles
Posted on Monday, February 11th, 2013 at 8:25 pm.
Innovation is an evolutionary process for survival, differentiation and sustained growth. An essential component of every business, the skill is running innovation effectively and making it a core cultural component of the organisation.
Change the approach within an organisation to put innovation at its core
Run and drive innovation with internal teams
Set agenda, responsibility and budget within framework for real innovation
The process of trialling and rolling out innovation at minimal risk
Farming ideas for innovation and change within an organisation
Strategic long-term appointments
Defined project-led applications
Understanding the market and defining the best channels to market are key. New products will take time to globalise and there are many structures and mechanisms to reduce the time and costs of driving this revenue.
The right market and product mix
Understanding the value generated
Understanding market dynamics for every £1 spent
Understanding the curve and strategy for crossing the chasm
Understand the barriers and close the gap
Remove the barriers to sale and shorten the sales cycle
Looking for repeatable earnings and annuity models
How to cover the market quickly
Explore and define licence and distribution models
A company is a like a machine and the sales function like an engine. The engine needs setting up and constant fine tuning to maximise output and minimise costs.
Belief, confidence and goals are core to an efficient engine
Essential for building the relationship and rapport with the customer
The right form of communication is key to success
Fail to prepare and prepare to fail!
Solution-based selling; be a problem-solver
Creative sales people improve sales conversion
A full pipeline prevents a future sales slump
Crucial for forecasting and achieving targets
The main cog in the sales engine and key to the pipeline
Maintenance and growth of the customer database
Target, challenge, motivate, reward, win.
Companies that successfully innovate and create high growth need to manage that growth, and protect themselves from the increased risks generated by it. For example cash pressure and working capital will be strained by double-digit growth. Process, reporting structure, and management is key.
To be ‘Investment Ready’ and therefore be able to maximise valuation and investment terms are critical to companies seeking to raise finance
In order to ‘Plan for Growth’ a business plan of sufficient detail needs to be prepared to tie planning to actual performance
Companies need to adopt ‘Best Practice’ relevant to their size and industry sector
To ‘Maximise Profitability’ companies need to assess the markets they operate in and value they can bring to those markets
Risk mitigation is about ‘Protecting Shareholder Value’ and as companies grow this needs to be constantly reviewed
To maximise valuation ‘Exit Multiples’ depend on performance and business ratios