Kevin Minne - Blog

Innovation or Crash and Burn?

6/2/2017

Something was missing as Heather walked into the familiar department store but she couldn't quite put her finger on it. What is it, she thought, same store front, the red lettering and logos were everywhere, the cosmetic counter was in the same location and so were the clothing, the kitchen ware and the linens but it was definitely different. The clothing racks were unkempt and the shelves of neatly folded sweaters and designer jeans now had the look of a teenagers bedroom after a sleep over. As she took the escalator up to the kitchen department and began to stroll through the isles it was immediately obvious that the usual knowledgeable and helpful staff was completely absent. It was as if all the staff had gone on break at the same time. Through the years this store had exerted a tremendous amount of energy to create a very specific set of expectations in their customers and that level of service and quality is exactly what Heather had come to expect. Growing in frustration as she looked for someone to help her with a simple question about cookware, she thought: if all the reasons I've been coming here for so long are gone why would I come back?

This fable is an example of one company's effort to innovate out their existing business model in order to cut costs and attract new customers but it might be at the expense of their core customer. The consequences of this type of radical innovation can be catastrophic if it doesn't work!! In this case "loyal" as opposed to "fickle price shopping" customers are some of the most valuable assets a company can have and shouldn't be expected to stay loyal when all they have become accustomed to is no longer there!!

Failure to Implement

3/17/2017

Too often when businesses or products fail it is not a failure to fundamentally change but rather a failure to to consistently implement the fundamentals. Much of business success is not rocket science but rather simple discipline of what you already know. (Unless of course you don't know the fundamentals of your business!) In the brilliant book "Simple Rules" by Donald Sull and Kathleen M. Eisenhardt we learn that the simple rules of the battle field medical triage system is in fact exactly what makes a success of one of the most dynamic and complex environments in the world. It's usually not what you know that matters but what you do with what you know!!! For example: medical triage on the battle front works so well because it identifies the injuries that will benefit the most from immediate medical or surgical attention which enables the expertise to be brought to where it can do the most good.
Unfortunately, there are times that we are gathering the right information (such as determining that a sector of the market is declining) yet not dispersing that information to the right channels where it can bring the most benefit (such as reallocating resources to growth markets, improving the product or processes etc). Just like the medical triage, a simple system of information triage can identify the areas of a business that are in most need of critical information/data to survive and can bring renewed focus on fundamentals, life giving decision making, training and leadership in order to keep that sector of the business healthy.

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

Freshen up your Idea Inventory

3/10/2017

Toyota and Walmart wrote the book on managing inventory. Each has some of the lowest inventory costs in their industries but certainly there is still more to learn. The more inventory you have sitting around, the more tied up cash and cost you have. Just like cash, inventory loses value over time. (Un-deployed cash loses value through inflation and inventory loses value through obsolescence, warehousing costs and stagnating cash flow). Keeping fresh inventories enables you to keep up with newer and more current products and this is especially vital when innovation and product changes are coming more and more frequently.
This same concept applies to innovation ideas as well. When your basket of ideas is full and just sits there in the back of your mind it is a drag on your energy and capacity to generate new ideas and implement. Lots of great ideas become obsolete if they are not acted on. If they are truly valuable ideas then evaluating them should reveal that but sitting on them will only lead to idea paralysis. If they are not great ideas then get rid of them and get on to the next because the more ideas you generate the better they get, it truly is a case of practice making perfect. If your ideas are not increasing sales, or eliminating waste in your processes then they are just stagnant inventory and you need to fish or cut bait as they say and get on to something that will.

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

Routine is the Enemy!

3/3/2017

If you want to get new perspective and fresh ideas then routine is the enemy. "That's the way we do it here" is the death knell of innovation. The more you repeat something the more your mind creates boarders and rules and inevitably, blind spots. We have all heard of following a success formula (routine) which can work for a time but can quickly become stagnant without constant renewal. Unfortunately, success fosters routine much more than failure. Whereas failure does wake up the mind, the now famous "Charles Schwab" corporation coined their own term of "Noble Failures" to remind themselves of the fresh perspective that can come from an undesired outcome.
That is why it is good to add something new to your operations and take some risks that can take away the mundane of the routine. It can take the form of a contest in an area where no one has much experience, something as simple as an old fashioned soap box derby! You would be amazed at the ideas a simple soap box derby contest can bring to your operation!! Plus it can give the "non-bosses" a chance to really shine and contribute! Keep it short and intense so your mind doesn't get bored.

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

No Experts Please!

2/24/2017

It turns out the experts are too often not the experts after all. Or if they are really experts, their expertise is often masked by their disruptive delivery! In any innovation exercise there needs to be expertise but no experts, since what you are trying to create is something totally new. Experts tend to require that they get to showcase themselves rather than defer to the synergistic collaboration of the whole group. If something is truly new and novel it would be impossible for anyone to have the experience required to be an expert. Even architects who are the “experts” of building and design are just creating variations of what they already know and operating inside very clearly defined parameters. The most exciting innovation happens when each participant is keenly aware of the need for passion and input from others in order to build something truly unique!
So, when building an innovation team or facilitating one make sure you leave out the experts and bring in expertise!

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

Barriers to Product Adoption

2/17/2017

Make no mistake, new is the enemy of habits and comfort. New products are often misunderstood and rejected without much thought because they are at odds with conventional wisdom and cultural norms. There really is no one size fits all solution for anything. Barriers to entry into any new market is solely in the mind of each customer.
However, humans do run in packs and once the cultural differences are understood the barriers to market entry get much smaller. For instance, it would seem that a vacuum cleaner should be very universal in its appeal. But as it turns out Americans want their vacuum to be loud in order to prove that it is powerful and doing its job. Whereas, their Japanese equivalents who mostly live in close communities and apartments, will pay more for quiet and smooth operation just for the social benefits. Once you understand those preferences, market entry into these two markets is rather simple.
Too often we don't take the time to identify the barriers before developing or innovating. The barriers are more often social than technological. Understanding customers (not just asking them what they want) is paramount.

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

Attitude Determines Your Future!

12/16/2016

Another year that has brought many unforeseen events to our world and lives is almost past. Looking forward and trying to prepare for an unknown future is really one giant contingency plan. Not one of us can accurately predict what our world will be like in just five years, let alone twenty five or fifty years. For instance, the Massachusetts Institute of Technology freshmen are studying a curriculum that (according to their own university professors) will be obsolete by the time they graduate. So, preparing is a matter of knowing when to stay the course and when to adapt and change. Staying the course is usually the easy part if it is appropriate but changing and adapting is the biggest challenge. Unfortunately, knowing when and how to change and adapt isn’t just a certification you can gain from taking the right college course, it is more about attitude than anything else.
Many once proud companies lay in the ashes of history because of a failure to adapt fast enough to industry changes or economic disruption. (Think Kodak, Block buster video, Pan Am Airlines, Enron etc.) The first clue to finding the cancer that eats away at the success of an organization comes from the attitude of the company. The probability of the long term success of a company can be determined by whether an attitude of pride or humility pervades the culture. There is an ancient proverb that says “pride comes before a fall” and there is an inflexible arrogance that comes from pride whereas humility fosters flexibility and learning and openness to change. Unfortunately, attitudes can change with success and often pride plants the seeds of decay and when they take root people spend more time trying to take credit for the success of the company than trying to learn and be open to what new challenges need to be met and what changes need to be made. Humility, on the other hand is beautiful and always in style on a people and companies, it’s approachable, easy to work with, quick to admit wrong and be willing to change and gives credit rather than taking it. One of the most important ingredients in adaptable and innovative companies is an attitude of humility!

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

All Products Need to be Action Products!

12/2/2016

Do you know what the number one selling movie genre is….. drumroll please….. it’s not romance, it’s not comedy, .... it’s action! That's right folks, people love action movies, action is easy to relate to, it's exciting and it takes us out of our ordinary lives for a quick escape. When we read action in a book it’s easy to visualize. Take a trick from the writers guild, instead of telling people about your product, help them see your product in action. Products with action sell better, because people can visualize them getting work done! (Work is an action verb that is why we buy products in the first place.)
Can you turn your products into action verbs or are they just static? Peace of mind is not an action so if you are selling peace of mind your product is severely handicapped! For instance if your product is a refrigerator warranty= give that refrigerator a face lift, or life insurance= give your family a warm cuddly bear hug, membership to an association= getting the combination that unlocks the vault. It might seem a bit corny but when you make it easy for customers to see your product in action that is the best way to help your customers take action!

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

Thanksgiving is a Boon for more than the Black Friday Kickoff!

11/24/2016

Thanksgiving celebrations are a centuries-old tradition and they need no introduction. The wonderful truth is that just about every one on the planet has something to be thankful for. It doesn't have to be something new or big, just something that brings joy and gratefulness to our hearts.

There is no question that there's much that's wrong in the world, but today we can focus on what's right. The value of this age old tradition is enormous with many studies proving the emotional, social and physiological benefits of gratefulness, including:

Reduces aches and pains
Increases happiness
Inspires people to be more health conscious and spend more time exercising
Enables people to sleep better
Grateful people are much more likely to live longer
Gratefulness reduces negative emotions such as envy, frustration and resentment
Gratefulness can even reduce blood pressure and strengthen our immune system
Makes us more resilient and able to bounce back
Helps us relax
Makes us friendlier
Increases energy levels
Deepens friendships
Increases goal achievement
Reduces materialism
Improves self-esteem

And since this is a business blog... I'm thankful I can look back over the years of being in business and remember relationships with customers and work partners and subcontractors who trusted me and inspired me and taught me!

I'm grateful for every individual and every business that has brought a spirit of never ending improvement and excellence to their work!

I'm grateful for everyone who has revered collaborative relationships for the value they add to us as individuals, to our workplace cultures, to our communities and our world! I'm grateful for everyone who has shown me that the effort to improve, has its own reward no matter what the outcome!

I'm grateful for everyone in business who cares more about the value they are producing for their customers and partners, than the profit they're making!

With that I'm wishing you all a happy Thanksgiving holiday and a future filled with gratitude!

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291

No Idea is Perfect, Mistaking Your Way to Better Products

11/18/2016

Original thinking and innovative new ideas are to business and progress what bees are to the pollination of the food chain. Those little buzzing, bumbling, marvels amble about carrying the essential nectar that ignites new life and growth in plants that would otherwise be impossible. Likewise, original, outside-of-the-box thinking and ideas rarely come in a complete package. Big innovative ideas almost always come from bits and pieces of smaller, incomplete ideas that are brought together little by little to eventually form the usable and valuable whole. But getting to that whole can be a difficult and mistake prone process. The great idea that is without flaw doesn't exist! (In other words the queen bee needs all the worker bees to complete the hive.) Instead of a CEO maybe we need CPO's (Chief Pollinating Officer) someone that is constantly connecting with idea makers and spreading those ideas. But it goes deeper than that, in the immortal words of Ken Robison, "if you are not prepared to be wrong (and take input from others) then you will never create something truly remarkable!” Take a moment and remember the last time you were wrong and I mean wrong in a big way, then add to that, wrong in front of a crowd. Can you remember how it felt? Did you break out in a cold sweat, did your face and ears get flushed with heat, did you want to crawl under a chair or anything and just disappear? Being wrong is certainly not fun for any of us and the bigger the ego the harder it is to cope. So what are some ways to prepare ourselves for the inevitable “wrongs” when they come?
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Stop needing to have the answers and get back to perpetual learning. When we're learning, and admit to being a student, it's perfectly acceptable to be wrong.
Practice saying "I don't know or I'm not sure, what are your thoughts.”
Lose the ego, pride gets in the way of so much progress, humility enables us to learn and improve so much more quickly (and it's easier to live with!)
Believe that no idea is perfect, that way you will always be looking for input from others. (Which also helps build better teams.)
Learn to laugh at yourself, there's nothing that opens up creativity and broadened perspective better than humor! (There is scientific proof of this!)
Make sure your work includes some fun. A nerf basketball tournament was the simple tool that one creative art director used to ignite the creativity of his team!
Always lead by example, make sure you make it easy for others to be wrong by being willing to be wrong yourself. (In fact point out your mistakes, revere them!!)

Being wrong is essential to learning, it's the perfect drug to induce a fervent desire to learn. But unfortunately many work cultures see being wrong as the kiss of death rather than the building blocks of innovative progress that it truly is.

By: Kevin Minne
InnovationGrowthSystems.com
720-354-0291