steve taylor
DESCRIPTION
TRANSCRIPT
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Systematic Business
Innovation
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?
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JosephSchumpeter
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“Creative Destruction…
incessantly revolutionizes the
economic structure from
within, incessantly destroying
the old one, incessantly
creating a new one.”
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Creative Destruction
is the essential fact about capitalism
It is what every capitalist concern
has got to live in
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Creative Destruction
generates amazing
opportunities
That’s why it’s so powerful
and why it’s so relevant
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They haven’t taken on board his distinction between Invention and InnovationINVENTION INNOVATION
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This should be as demanding and exciting as inventing the thing you do.
Every aspect of it
An entrepreneur also innovates the entire business that creates &
delivers the new thing they do
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When you
Invent and Innovate
it can produce
extraordinary success
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But that’s not what most people do
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‘Flat’ StructurePoor Management Information
Short-Term OutlookUnstructured Communications
Overworked & stressed founder/s
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Systematic
Business
Innovation
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A Business is a System
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“A set of interacting or
interdependent components forming an
integrated whole”
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“A set of interacting or
interdependent components forming an
integrated whole”
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Product/Service
Process/ Workflow
Leadership/ Management
Business Model
People/ Skills
Marketing
Turnover/ Sales
Net Profits
Structure
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Product/Service
Process/ Workflow
Structure
Leadership/ Management
Business Model
People/ Skills
Marketing
Turnover/ Sales
Net Profits
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How do you grow a
business in a Systematic
way?
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every detail, every element
must be building towards your
ultimate Vision
It’s like directing a film:
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You need two
‘heads’
Invent your
product+
Innovate your
business
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But what do you actually
DO?
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You need some simple practical tools to help you:
a) think about your business as a system
b) design it systematically
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THE NEW THING THAT YOU DO
BUSINESS ENGINE
BUSINESS STRATEGY
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BUSINESS ENGINE
BUSINESS STRATEGY
THE NEW THING THAT YOU DOProduct/Service
Process/ Workflow
Business Model
Marketing
Structure
Leadership/ Management
People/ Skills
Net Profits
Turnover/ Sales
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THE NEW THING THAT YOU DO
BUSINESS ENGINE
BUSINESS STRATEGY
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OPERATIONAL COMPETENCE
= the skills to execute on
The New Thing That You Do (The Invention)
Business Strategy isn’t developed
Business Engine is neglected
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Filling The Gap• ‘Consultants’
• Your Accountant
•Generic Business Coaches
•Making It Up As You Go
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Start-up Grow-upStay-up
•You’re drowning in paperwork -
especially financial
•Quality of work is starting to slip
•Cash flow is bumpy
•Gaps appear in communications
•Team morale is not so great
•You feel overworked & stressed
10/12 30/35
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Lessons:
•Understand which stage you are in
•Look out for ‘transition symptoms’
•Design/re-design your business
system for the next stage
DO THIS CONTINUOUSLY
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THE NEW THING THAT
YOU DO (Product/Service)
Process/ Workflow
Structure
Leadership/ Management
Business Model
People/ Skills
Marketing
Turnover/ Sales
Net Profits
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Product/Service
Process/ Workflow
Structure
Leadership/ Management
Business Model
People/ Skills
Marketing
Turnover/ Sales
Net Profits
![Page 34: Steve Taylor](https://reader033.vdocuments.mx/reader033/viewer/2022061208/5485a8d8b479590f0d8b4e21/html5/thumbnails/34.jpg)
Q1 Q1Q4 Q4Q2 Q3Q3Q2
How you can use a bookcase to help turn your Systematic Business Innovation into an Action Plan
Example: an early-stage online jewellery business that is growing fast
& sees opportunities for it’s own e-commerce operation, partnering with the big online retailers and opening
operations in China
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Q1 Q1Q4 Q4Q2 Q3Q3Q2
People/ Skills
Product/ Service
Process/ Workflow
Structure
Business Model
Leadership/ Management
Marketing
Turnover/ Sales 1.5m
Net Profits 150K
Full-time MD
Free up MD 50%
Shanghai Warehouse
Bespoke Service
Multiple rev streams
Team = 15 people
Open in China
YEAR
1
YEAR
2
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Q1 Q1Q4 Q4Q2 Q3Q3Q2
People/ Skills
Product/ Service
Process/ Workflow
Structure
Business Model
Leadership/ Management
Open in China
Turnover/ Sales 1.5m
Mgmt team
Net Profits 150K
Full-time MD
750K 1m 1.35m1.25m1.1m800K 900K
Shanghai Warehouse
Bespoke Service
Team = 15 people
Multiple rev streams
Marketing
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Q1 Q1Q4 Q4Q2 Q3Q3Q2
People/ Skills
Product/ Service
Process/ Workflow
Structure
Business Model
Leadership/ Management
Open in China
Turnover/ Sales 1.5m
Mgmt team
Net Profits 150K
Full-time MD
750K 1m 1.35m1.25m1.1m800K 900K
Shanghai Warehouse
Bespoke Service
Multiple rev streams
Team: 6 Hire studio assistant
Hire designer
Hire sales/account mgr
Hire Shanghai head
Team = 15 people
Promote Ben to MD
Mgmt training Ben
Ben: build mgmt team
Ben: build mgmt team
Marketing
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Q1 Q1Q4 Q4Q2 Q3Q3Q2
People/ Skills
Product/ Service
Process/ Workflow
Structure
Business Model
Leadership/ Management
Open in China
Turnover/ Sales 1.5m
Mgmt team
Net Profits 150K
Full-time MD
750K 1m 1.35m1.25m1.1m800K 900K
Shanghai Warehouse
Bespoke Service
Multiple rev streams
Team = 15 people
Team: 6 Hire studio assistant
Hire designer
Hire sales/account mgr
Hire Shanghai head
Promote Ben to MD
Mgmt training Ben
Ben: build mgmt team
Ben: build mgmt team
Own e-commerce
3rd party sites
Open key accounts:
Amazon, Net-a-Porter
Marketing
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Q1 Q1Q4 Q4Q2 Q3Q3Q2
People/ Skills Team: 6Hire studio assistant
750K 1m
Product/ Service
Process/ Workflow
Structure
Business Model
Leadership/ Management
Hire designer
Hire sales/account mgr
Hire Shanghai head
Ben: build mgmt team
Free up MD 25%
Free up MD 50%
Prep Shanghai
Open Shanghai
Ben: build mgmt team
Shanghai research
Revamp Website
Own e-commerce
3rd party sites
Open key accounts:
Amazon, Net-a-Porter
Multiple rev streams
Promote Ben to MD
(too?) flat
Turnover/ Sales 1.5m1.35m1.25m1.1m800K 900K
Shanghai products
Shanghai products
E-commerce range
Mgmt training Ben
Promote Ben to MD
3 x Board meetings
Net Profits 94K 100K 126K 150K 150K165K 188K 169K
Shanghai Warehouse
Bespoke Service
Full-time MD
Team = 15 people
Marketing
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Don’t crash your business because you think any fool can run one…
Invent and Innovate!