Finding your path to Market - Samsung NEXT · advice to help attendees build a scalable...
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Scott Armanini Senior Advisor, Portfolio Company Growth 06.11.2019 / [email protected] Finding your path to Market
Transcript of Finding your path to Market - Samsung NEXT · advice to help attendees build a scalable...
Scott Armanini
Senior Advisor, Portfolio Company Growth
06.11.2019 / [email protected]
Finding your path
to Market
• After launch, how do founders create a
sustainable revenue stream that will
enable them to further develop their
product offerings, build their
infrastructure, and pay their team?
• This workshop will provide hands-on
advice to help attendees build a
scalable go-to-market strategy.
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Finding Your Path
to Market
After Launch
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It’s a marathon,
not a sprint
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Finding Your Path
is Messi
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• Fight For What You Believe In.
• Success Takes Time.
• Just Do What You Love.
• Improvement is Always Possible.
• Give Your Team the Credit they Deserve.
• Don't Ever Chase the Money.
• Don't Forget What's Most Important to You.
• Remember That It's Not All About You.
• Always Give Everything You’ve Got.
• Learn to Accept Your Failures.
10 Success Lessons from Lionel Messi
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• Do You Know Your Customers?
• Who Owns “The Number”?
• Charging for the Value Created?
Sustainable Revenue Stream
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• Who are my best prospects?
• How much will they purchase?
• When? For what price?
• How often?
• Who is staying awake at night?
• What is their pain?
• How much does it hurt?
• What value am I creating?
Know Your Customer – they’re not Equal
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76% of Consumers Expect Companies
to Understand their Needs & Expectations
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Experiment
A/B testing is in Amazon's DNA and (is)
at the core of how Amazon innovates
on behalf of customers.
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€700
€800€350€1000
€600€450
How Much Value are you Creating?
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€1800 €50 €60€650€850 €400
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How to increaserevenues …
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Develop
Infrastructure,
Build Offerings,
Pay Team
Shifting Gears: Innovation vs. Value Creation
Just Because You Can Build Something …
… Doesn’t Mean You Should.
MainframeOnline Transaction ProcessingMinicomputerFax MachinesMobile PhonesReal Estate Crisis #1Massively Parallel ProcessingLocal Area NetworkingPersonal ComputersClient / ServerNeural NetworkEnterprise Resource PlanningHuman Capital ManagementCustomer Relationship ManagementData WarehousingeCommerceSaaS
.com CrashSarbanes OxleySmartphonesDigital AdvertisingPersonalizationCloudBig DataReal Estate Crisis #2Financial Crisis #1AR / VRCybersecurityMachine LearningData LakeArtificial IntelligenceBlockchainBitcoinInitial Coin Offering… and so on …
The More Things Change … The More They Stay the Same
VisitSilicon Valley
Leave SVInspired …
CreateSV Outpost
We’ll meetgreat startups!
Build SVInnovation Center
We’ll work withgreat startups!
Build internalInnovationCenter
Our employeeshave great ideas
CreateCorporate Venture Fund
We’ll invest ingreat startups!
We met a lot of startups … some were really exciting.
We attracted startups … who needed us more than we needed them.
We’ve seen hundreds of pitches … and invested in a few startups …
We have thousandsof ideas … but can’t tell great ones from good.
Where are thebottom line results?
t
$MM
Build external Accelerator
Our startupshave great ideas
Some of our startups have really good ideas … that we struggle to implement & monetize.
$KK
$M
$MMM
$MM
… and afraid (vunerable)
5 Year Innovation Lifecycle
How do you value / allocate assets and risks in your Innovation Portfolio
… and measure their contributions?
Innovation Teams typically focus on
Horizons 2 & 3Leaving Horizon 1 to “the business”
This overlooked area is where $B business value is rapidly created
Characterized by a high degree of risk & uncertainty, and 2+ years reaching market –if ever
Innovation Portfolio Management (v1)
Existing New
Existing
New
Business Model
Technology
Routine
Disruptive Architectural
Radical
• Open Source Software (software co)• Video on Demand (for DVD rental co)• Ride-Sharing Services (taxi co)
• Next model year vehicle (car co)• Raw Index Fund (mutual fund co)• 3-D Animated film (Pixar)
• Biotechnology (pharma co)• Jet Engines (aircraft co)• Fiber-optic cable (telcos)
• Personalized Medicine• Digital Imaging (Kodak)• Internet Search (newspapers)
Innovation Teamsfocus on Horizon 2 & 3
Leaving Horizon 1 to “the business”
Credit: Gary Pisano, Harvard Business School
Innovation Portfolio Management (v2)
Routine
• Know Your Customers, Markets
• Make Better Decisions
• Protect Your Brand & Reputation
• Demonstrate Fiscal Responsibility
Existing
Business Model
Existing
Technology
Horizon 1
Solving Real Problems
Value to Brand& EmployeeEngagement
Inspirational
Challenges“Catching & Running”
Impact on Business
Impact onCustomers
Achieve domain expertise in monetizing & scaling
Aspirational Solving your customers’ business problems
Growth & Impact
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Know Your Buyer
• Who are my best prospects?
• How much will they purchase?
• When? For what price?
• How often?
Are you
selling to the
Innovation
Team or to
the Business?
• Who is staying awake at night?
• What is their pain?
• How much does it hurt?
• What value am I creating?
• Sprint vs. marathon
• Know your customer
• How they think, feel & why
• Create measurable value
• Experiment / Evaluate / Evolve
• Raise Prices
• Charge what you’re worth
Keys to Success
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Always Be
Prepared
