- Innovation Family Planning. Defining the right balance in your innovation portfolio between existing and new business
- Organizing the innovation family. Implement the right set-up and way of working required for the whole family as well as for the individual members
- Business Model Innovation. Create new dynamic business models showing the rationale of how your business creates, delivers, and captures value
- Accelerating new business. Survive puberty by co-creating the market and scaling your business together with partners
- Business Validation. Use a venture development framework to evaluate your innovation family as well as the individual members
- Think & Act as Entrepreneurs. Use a set of decision-making principles, used by entrepreneurs to rapidly sense, act and mobilize in situations of uncertainty (effectuation)
- Innovation performance management. Have a performance management system in place that is tuned to the specific needs of the different innovation family members
- The entrepreneurial toolkit. Use a set of tools to translate customer insights into value propositions and business models and to build partnerships for co-creating the market and to accelerate, applying the principles of lean start-up and effectuation
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Think & Act as Entrepreneurs
When creating a new business we might as well learn from the experience of the experts: entrepreneurs. Effectuation is a logic of thinking, discovered through scientific research, used by expert entrepreneurs to build successful businesses It provides a set of decision-making principles employed in situations of uncertainty.
The alternative to effectuation is causality, which describes decision-making heuristics rooted in prediction.
We support organizations in becoming more entrepreneurial by applying the principles of effectuation
BIRD-IN-HAND: start with your means. Don’t wait for the perfect opportunity and start taking action based on who you are (beliefs), what you know (capabilities and experience),what you have (assets) and who you know (network). New solutions are created from existing means. A vision is the result of creativity with available means.
AFFORDABLE LOSS: focus on downside risk. How much of what I have can I afford to lose and am I prepared to lose? Evaluate opportunities based on whether the downside is acceptable, rather than on the attractiveness of the predicted upside. By starting from the downside, the rest is upside.
CRAZY QUILT PARTNERSHIPS: form partnerships. Partners are a source of new means and new ideas, a way of sharing risks and of creating new opportunities. Partners should be willing to take risks and invest means of their own. Without an actual contribution and commitment (early-yes’s), you are dealing with interested observers, not with partners.
LEMONADE: leverage contingencies. It is about the ability to work with the unforeseen and to turn it into something valuable. Embrace surprises that arise from uncertain situations; they can be the source of clues and inspiration you need to create a new market.
PILOT-IN-THE-PLANE: create opportunities. When you can make the future happen by working with things within your control and with people who want to help co-create it, you don’t need to worry about predicting the future or finding the optimal opportunity.