Infusing innovation in your organization
Change is the only constant – virtually every industry and company needs to be future-focused to keep up with innovative competitors, new startups, and emerging business models.
At NewBoCo, we employ the same tools that we use with startups to ensure that existing companies stay competitive and relevant. We’ve developed a series of standardized and custom offerings to help you and your team adopt innovation practices to drive your business strategy.
Our Innovation Services
We’ve developed a series of standardized and custom offerings to help you and your team adopt innovation practices at your own pace and to fit a variety of business strategies.
Developing an Innovation Culture and Strategy:
Shifting your organization’s strategy and mindset to be better able to capitalize on innovative new marketplace opportunities is a big challenge, and realistically is a process that takes years, and perhaps continues indefinitely. Our framework gives you the right approach to begin the organizational transformation process, and can proceed as quickly or slowly as necessary to match your mission and vision.
- Intrapreneur Academy: A year-long academy for cross-functional teams of intrapreneurs that will include trainings, events, tours, and guest speakers through themed quarterly opportunities.
- Innovation Readiness Assessment: Comprehensive baseline assessment of your company’s current innovation efforts, with recommendations your company can implement to move the needle.
- Innovation Roadmap: A 3-year roadmap integrating proposed innovation efforts for your organization to align with your strategy.
- Innovation Workshops: Interactive classes on an array of topics for your team, including lean startup methods, innovation leadership, and building an innovative company culture.
Supporting Structured, Repeatable Innovation Efforts:
Developing an innovation culture takes time – years, in fact. But we can’t wait for that to be completed before we start. Getting real innovation underway as the culture grows and changes is a way for the company to see how innovation works in action, to embrace its potential, and accelerate the entire journey.
- 3-day Innovation Experience: Identify emergent business opportunities, rapidly assess their viability, and select one or more to proceed with. Fully facilitated by our staff.
- Innovation Accelerator: Facilitated, off-site acceleration of the most promising new opportunities for your business, including mentoring, investment, prototyping, technical support and more.
Innovation in software
New practices allow companies to deliver higher quality products, rapidly, with fewer errors. Geonetric, in Cedar Rapids, uses techniques to dramatically reduce defects by automatically testing their software. They have the ability to release new versions to customers in minutes, instead of weeks or months. Though many larger organizations still haven’t adopted these software techniques in Iowa, they’re commonplace in Silicon Valley and elsewhere; virtually every startup uses them.
Innovation in manufacturing
Boeing is 3D-printing parts for the 787 Dreamliner in titanium, saving millions per plane. Saab’s Gripen fighter aircraft is being developed for a fraction of the cost of the F35 – without the multi-billion dollar cost overruns – and is designed to be upgraded quickly and reliably. Startups are threatening older manufacturers by taking advantage of the plummeting cost of developing new, customized products. They’re designing their companies to require less manufacturing overhead, shorter supply chains and to be more flexible than established manufacturers.
Innovation in professional and business services
New business models are aiming to disrupt even the most stable companies in travel, finance, e-commerce, and just about every professional industry. Startups around the world are taking aim at established companies. Consider Warby Parker, which sells prescription eyeglasses online and allows you to try them on at home and ship back the styles you don’t want, at a fraction of the price of traditional retailers. It’s a $1.2 billion company, and it’s just seven years old.
Innovation in how organizations are designed
Flatter hierarchies, more engaged workforces, and organizations that are designed to thrive in rapidly changing market conditions rather than merely tolerating them. Company cultures can be built explicitly for the purpose of continuous innovation over time. Both older and new companies are doing this, ranging from WD40 to Zappos to New Belgium Brewing Company. But few in Eastern Iowa are.
If you’re interested in taking the next step with innovation, reach out to us for a 1-on-1 conversation about how we – and our worldwide network of experts – can help.