BusinessInnovator.org

24/06/2020

What job are we hiring the cinemas to solve?

The highly respected and now deceased Clayton M. Christensen was curious about how well we know our customers, and he said: "When we buy a product, we essentially “hire” it to help us do a job".

The theory of "Jobs to be done" was developed in part as a complement to the theory of disruptive innovation—which at its core is about competitive responses to innovation: It explains and predicts the behavior of companies in danger of being disrupted and helps them understand which new entrants pose the greatest threats.

With the rise of Netflix and the introduction of the "No/Low Touch Economy" (a result of the CoVid-Pandemic) Cinemas has been faced with a new harsh reality, and this raises the question: "When we buy a cinema ticket, what do we hire the movie theater to help us do for a job?

04/05/2020

New leadership skills are needed!

In order to speed up the transition to circularity, we need to abandon the linear ' take-make-use-dispose' mindset.

This means that profit is no longer the focal point of business optimization. The new circular leadership mindset is purpose-driven, placing people and the planet before profit.

This also means that leadership is not about control, but about empowering employees and this leads to an organization not based on hierarchies, but on a network structure.

Placing people and the planet before profit also means that 'protection, privacy, and patents' is no longer an issue for businesses, but transparency will dominate the mindset.

These changes in extremely challenging and difficult to implement without the 'good' example. We, therefore, need platforms to perform where we can experiment relative safely.

At the Circular Economy Club, we are setting up a test bench to perform a real-life test with new circular business models.

But in order to speed up the transition, we need more test benches placed around in the different regions, enabling more people to develop a circular business and leadership mindset.

More info: www.circulareconomyclub.org

29/04/2020

Genstart - få en gratis 360 graders screening af din virksomhed.

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Send en mail til [email protected] og få mere information.

09/01/2020

My network enhance my possibilities for success!
I have realized that the extent and depth of my network affect my opportunity in business. Building a substantial network of social and professional contacts means that I will be exposed to more opportunities and ideas.

Someone even claims that somewhere between 40%-50% of those who start a startup get their idea through social- and professional contacts. In a 2014 study conducted by the HBR, it was discovered that among the 165 lawyers at a large law firm, those who networked effectively were significantly more successful compared to those who didn't networked. Furthermore, it's claimed that our weak-tie relationship provides more new business ideas compare to a strong-tied relationship. This seems to be because we think alike with those we have a strong-tied relationship with.

Therefore, building up my network, especially with people who are different from me, is very important because it exposes me to new knowledge, giving me the opportunity to learn and obtain advice.

Networking works both ways and since I aim to give first it's a personal success when I am able to contribute to the growth and opportunity of others.

That is why my network is what leverages hard work into success.

My network is what leverages hard work into success.

08/01/2020

Is my idea worth pursuing?
First of all - there is only one who can determine whether or not my business idea is worth pursuing, and that's the paying customer.

This means that I have to get in touch with my potential paying customers as fast as possible - even that it's only an idea I have.

Often entrepreneurs think they need to have the product ready before engaging with the customers. And this mindset is the reason why many startups fail.

The value of testing the business idea while it still is very fragile and new is that it can be co-developed with the customers, solving their real problems, and not the anticipated or imagined problems.

Designing my feasibility analysis, therefore, include contact with the market. Basically there is the product/service feasibility: Who are the customer (end-user and decision-maker)? and the market feasibility: Is the market interesting enough?

It's important not to fall into doing the "Excel-sheet-feasibility-analysis", but, as mentioned earlier, to go out and meet the potential paying customers in real life.

By identifying a persona, who is crazy about your business idea and who represents the market we are interested in, I have a valuable source of information, helping me to determine whether or not my idea is worth pursuing.

Is my idea worth pursuing?

05/01/2020

Purpose eliminates white space
Scaling a startup means increasing workloads, and it also means new people on board. Despite more people, people get overwhelmed with work. Previously-effective managers start making mistakes as their span of control expands. Growth is fun when things are going well. But when things start to go wrong, this chaos can be intensely stressful.

One of the reasons for this is "white space" exemplified in unclear strategies, lack of authority, vague rules and imprecise budgetary factors. A way to minimize white space is to incorporate a strong linear or transformative purpose. A watchmaker's linear purpose could be: "helping people to be on time". A transformative purpose could be: "helping people to achieve a more balanced life".

No matter what - a purpose helps the members of the organization to see how they bring meaning to their work and understand the contributions they are making to the company, as well as society.

The purpose sets the direction and explains "why we walk this direction". This eases the burden of management by empowering the organization to become self-controlling, handling distributed decisions and -leadership, and hereby eliminate "white space". This is why 79% of business leaders believe that purpose is central to their success and existence.

Purpose eliminates white space

02/01/2020

How do I identifying and recognizing a business idea?
A business idea often arises from a favorable set of extrinsic circumstances such as observing trends, recognizing and solving a problem or finding an opportunity gap in the marketplace, that creates an opportunity for a new business.

These extrinsic circumstances combined with intrinsic skills, competences, knowledge, passion, and purpose are what stimulates the startup of a business.

The key to opportunity recognition is to identify a product or service that is needed by customers, and that they are willing to pay for it. The problem is often here, that we as entrepreneurs anticipate that the customers want our product or service and forget to place ourselves in the shoes of the customers which leads to useless products or services.

We, therefore, need to recognize how attractive and durable the product or service is? Secondly, is the market ready for the product or service - is it timely? and thirdly - is there an anchor in the product or service that creates or adds value for the customers (end-users and/or decision-makers).

All this represents a window of opportunity and is needed in order for us to capitalize on our business idea, and is how we identifying and recognizing a business idea.

How do I identifying and recognizing a business idea?

31/12/2019

Let 2020 be the year you become an entrepreneur.

The word derives from the french word "entre" meaning "between" and "Prendre" meaning "to take". The word originally used to describe people who "take on the risk" between buyers and sellers.

today assembles and then integrates resources needed to transform an idea into a viable business by design and create a business model.

is important to our economy and our society as argued by Schumpeter by initiating the process of creative destruction, bringing better, smarter and more efficient products/services to the market, making the current products/services obsolete.

This creative destruction stimulates economic activities through innovation and job creation and this is especially important now with the digital and green transformation.

Therefore, let 2020 be the year in which you agree to the fact that staying in your comfort zone is your worst enemy, because you risk ending up as a dinosaur, and thus is in imminent danger of extinction.

"Take on the risk" and step out of your comfort zone, challenges the status quo, start your own venture as an entrepreneur or become a corporate entrepreneur, and move your business "from good to great".

A happy new year and good luck.

18/12/2019

"Why hasn't anyone done this yet??"

18/12/2019

Do I unleash my full potential?
This is a thought that strikes me from time to time. Inside me I have this "devil" saying: "Don't waste your time!". And yes, time is a scarce resource. Therefore, is there something I could do better, faster and/or more efficiently? Saying this I also want to enjoy life, don't get caught in the ´hamster-wheel'.

This has, over the years, led me to the conclusion that I don't want to spend time on things that do not matter, eliminating 'waste'! I decided to "go lean".

For me to "go lean," I developed a "purpose" helping me to navigate and make it easier to decide whether or not something is "worth" to spend time on.

This has also helped me to create a work-life balance, not having to compromise my hobbies and personal relationships for work.

The key is that time has been converted into 'energy'.

Energy is for me the fundamental source of efficiency. My life is therefor not about optimizing my schedule but optimizing the quantity and quality of my available energy.

All the time in the world won't help me achieve my goals. But my purpose does - it is driving my passion which drives my persistence to do better, faster and more efficiently!

Do I unleash my full potential?

12/12/2019

"Greta Thunberg is a brat"
Words of Brazil’s President Bolsonaro when he attacked the young Swedish environmental activist Greta Thunberg after she expressed concern about the slayings of indigenous Brazilians in the Amazon.

What I find interesting is that there seems to be a similarity between those who attacking Greta Thunberg. These hecklers all seem to be males, elderly, and often belonging to the right side of the political spectrum, and none of them have never achieved nearly what Greta Thunberg has achieved in just nearly 2 years.

I see two reasons for this, which I related to the business world I know.

First, Greta Thunberg is driven by a super-strong purpose that fuels her passion. The old angry guys (like Statler and Waldorf, the hecklers on a balcony in the muppet show) are holding on to their past, refusing to accept that the world is changing, and therefore - my second point - somehow represents our time's dinosaurs.

What we see today is well-established corporates being run over by start-ups, who are driven by a strong massive transformative purpose to change the world. Those corporations, who are not run by dinosaurs, are the ones adapting fast to the transformation forced by the digital revolution and climate change, knowing that Greta Thunberg is right.

Greta Thunberg is a brat! - not