49 members and guests attended our recent Boot Camps in Sydney and Melbourne on the 9 and 10 April, 2014 respectively. Darrell Mann, who is well known to most, took us through a challenging day that outlined how those that get it right, do it. Based on his research team, 4.5 million data points that survey organisations, patents, journals, papers etc, Darrell outlined a process that enables you to challenge your understanding as to what’s required and what your customer will pay extra for.
In an interactive workshop, Darrell challenged us to consider 5 commercialisation opportunities; had us decide on our criteria for success; and then had us develop a commercialisation plan that we believed would deliver this criteria and the funds/resources that we required of him to make it happen – classic business planning process.
He then proceeded to advise us that we had done our dough!
We then worked through a series of iterations that included:
- Deciding whether our opportunity was in a world of Known (manageable) or Knowable (less manageable) or Complex (we needed to probe to ascertain a response) or Chaos (extremely hard to manage).
- Taking a small, smart step, study of what you have learned and then build that learning into the next step.
- Delivering a critical mass at a critical point, thereby narrowing the focus, so that there is a high probability that you will win.
- Understanding the DNA of your target and the tangible/intangible reasons that they evaluate when they make decisions and obtain outcomes.
- Understanding the trends in your target market and any conflicts that occur through a trend conflict map (similar to a Perception Map), thereby arriving at a critical success factor that needs to be delivered in order to be successful.
- How to manage the Hype and manage expectations through promise points (internal/external).
- Whether our organisation has the maturity/capability to deliver what we intend and whether we have a viable system, without which we will fail in the delivery. This system has the conventional value added supply chain from inputs to satisfying the market demand but importantly has the ability to measure the effectiveness of this chain and business nous to understand these signals and adapt the chain along the way.
- An understanding of the hero’s journey from an ordinary world to a special world and the challenges that individuals/organisations face in making that transition.
A challenging day that I know left participants with more questions, but also with a desire to explore this topic further.
We thank ResMed and The Dulux Group for hosting these bootcamps.
If you are interested in this topic and want to join other members to fine out what’s required to deliver Step Changes, please contact John Maclay.