Business Systems

Innovation

Regularly analyze the business as it currently is, decide what it must look like in the future, then determine the gap between

Close the gap by deriving new proprietary systems

In pondering new systems, success hinges on finding a way to do things differently by modifying the value blueprint: What can be separated? What can be combined? What can be relocated? What can be added? What can be subtracted?

Adoption happens only if the added value (benefit delivered by the product compared to alternatives) exceeds the total cost (cost in terms of that price plus all the other changes customers need to undertake in order to use the innovation)

Analyze three types of risk for new innovative systems

• Execution Risk
• Co-Innovation Risk
• Adoption Chain Risk

Identify the minimum viable ecosystem (MVE) . Establish the order in which adding new elements increases the probability of successWhat elements of the MVE can act as building blocks for new initiatives?

Structure

Design the business as a franchise that can be run by people with the lowest level of skill

All work activities will be documented in Operations Manuals:

• Work flows for every task with check lists to ensure perfect completion every time
• The business will be extremely predictable and provide order

Everyone in the organization is replaceable. If this is not the case, the business is not scalable or sellable

Operations

All work will exactly follow the Operations Manuals

There will be ZERO ambiguity in every interaction between employees, customers, suppliers, lenders, ... anyone working with the business

Document Everything

Ensure new employees understand the importance of the structure in place and are properly trained

Selling

Design a full customer journey from start to end that is the same for every new prospect

Identify specific Benchmarks - or key consumer decision points - in the selling process

Create a script with supporting materials (case studies, slide deck, explainer video, ...)

Deliver the script identically for every new prospect. Iterate with A/B testing