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What can Big business learn from Small.
10 lessons from Start Up behaviour
• 35% employee 20-30 U.S. have started business on the side.
• 67% identify career goal as start their own business (UK)
"Biggest societal shift since ind Rev"
Start up culture; a disruptive contagion that knows no borders.
ACCESS TO TECH
ACCESS TO INFO
ECONOMIC
perfect conditions for thriving start-up culture
“DISRUPTIVE INNOVATION”
…….Too nebulous a request.
what do you want?Big companies often brief for………
What is it?
Start ups best placed to look at situations closely, at a molecular level.and Small Cracks in norm change quite quickly
eg taxis, jeans, watchesjob-hunting.
Changing business behaviour
• Marketing & comms
• NPD
• Retail & supply chain – “Apple
Service” expectations
• Recruitment & engagement
MAGNET BRANDS, THE NEW GODS
START UP CASSIOPEIAHERCULEAN MISSION
ESTABLISHED PLAYERS
MODERN BUSINESS
Skate to where the Puck is…• Supra category - magnet brands are crashing
through their own business, reshaping consumer experience…
Still considered challenger all MarCap is more than Swiss GDP.Could buy New Zealand
World’s finest Customer Experience Company“Ruthlessly sweat the customer experience to
remove the ouch in the chain.”
They ARE your competitor even if they are NOT in your sector.
Always on Shopping Experience Dominate Logistics Moving into Physical retail
Hugely Relevant Capture as many relationships 91% of developed market internet users have accounts with 1 of their 3 products.
Moonshoot attitude.Hugely influential, esp employee
behaviour/expectations.
Logistics company. Not stopping @ People.
V. disruptive to Amazon etc,Fulfilling the final mile
50% Mobile transfers made.1 in 6 Americans get a gift card @ Christmas Next step dinner market.
1
Disrupt through innovation and consumer insight
Unafraid of fresh categories
Raise standard of customer experience
…..are authentic and build brands people want to get behind
Their valuable commodity: Authenticity/passion is hard to replicate.
“The relationship between consumer and brand has changed from one of prescription to one of collaboration and now to one of
symbiosis”
Painful strat decisions to become themselves again. End to end
authenticity translate into premium cost exp.
great exp. LA- cold pressed juiced
industry. End to end finest experience anywhere.
2
…… get close to consumers needs
“Consumers don’t give a crap about your name if you give them the service that they want.”
Close to genuine customers. Have no fear of real consumers. Listen to your audience on the bus, in the food court.
Listen to what they are rejecting and praising.
3
Kinfolk reader suppers Monocle cafes
….Fast, flexible, nimble and persistent
4
Fast and responsive
Email, IM and Dropbox Tech dev started as a game - disaster but pivoted
Sales of brand names drinks, dropping in urban CNTS.
Won't directly rival….but death by a 1000 cuts from each start up impacts on big biz.
….They employ great not average people
No room for average. Be brutal in who stays and who goes.
5
“50% mils would take pay cuts to find work that matches their values.”
Brain drain - L2 source. Scraping LinkedIn data shows consistent migration from the
established to more disruptive companies.
"Innovative people do not need to be told to do it, they need to be allowed to do it"
Eric Schmidt
… focus on product - make things
If you don't, product becomes peripheral.
With awesome products customers will wash up on your door.
6
Monument valley - USTU. Agency New Biz tool
…not afraid to solve the difficult problems
Consumer’s expectations of all companies solving these ‘pains’ is getting higher and higher.
7
“every time we save you 15mins of your time we save years of time across our network.”
Peer to peer FX service.Traditionally High Value revenue stream. Banks susceptible.
…. don't have much money- it's a good thing
Rely on lateral thinking. Innovation places.
Cut your budget. Leads you to a bigger place.
8
….sweat the sweet spot.
9
‘range of genuine customer problems we
can solve’ Vs
‘things that work for our biz- financially,
operationally, brand.’
….they are generous and open.
No Nda,Talk to peopleNo big wallsCannot protect.Generosity and mutual learning, give them something back.
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