Tag Archive | networking

”You can’t do everything on your own.”

Event: Open up, become inspired and innovate! Global perspectives at Innovation Breakfast

Time: 5.9.2018 klo 8:00-10:30

Place: Hard Rock Cafe (Aleksanterinkatu 21, 00100 Helsinki)

”The focus of the USCO-project is to develop Finnish organisations capabilities to utilise digitalisation. The project explores digital business development on an organizational level, and in implementing open service innovation. USCO-project relies on experimentation and taking actions fit the focus of management, well-being at work, open innovation and customer centricity.” This was the first time I really paid attention to USCO-projects goals, and I have to admit that I was impressed. All those main focus areas are something that I am very interested in.

In the introduction Ruusa Ligthart and Riitta-Liisa Larjovuori started by explaining more about the viewpoints in USCO-project and opened some basic enablers in the open innovation process.

Four viewpoints to digitalisation

  1. Leadership
  2. Wellbeing at work
  3. Open innovation
  4. Customer centricity

What helps and enables open innovation:

–       Open and systematic processes

–       Strategic support from organization

–       Leadership support, examples

–       Organizational culture

Coming from quite hierarchic work environment, I was delighted to hear more about the fact that open innovation is also about collaboration and open mind. That is the reason why I decided to start study MBA at Laura UAS.

 

Keynote1: Professor Tim Minshall (University of Cambridge): ”Creating open innovations throught networking.”

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Management challenges of open innovation

 

Innovation is about solving customer needs.  Before this event innovation felt more like something complex and something that only experts and researchers in the field could do. Now I realised that knowing your customer is the key factor. That needs understanding, and that I believe I’m good at. The key action is to listen, and that’s what I mostly do at work. Dialog.

 

 

Innovation is about doing, understanding and delivering. It may be a product that makes life easier or something totally different, a shift in the way services are viewed. Sometimes the change can be incremental and sometimes simplicity is the key word. I really enjoyed when Minshall told about one case of innovation. A kettle. John C. Taylor invented the bi-metal kettle switch that makes sure that your kettle switches off once the water starts boiling. It reminded me of a coffee filter, that was invented by a German housewife Melitta Bentz simply because she didn’t was coffee to taste bad and have grounds in it. Bentz took blotting paper and transformed that into a new business idea 110 years ago. Mr. Taylor also said that “Innovation is no longer just for the elite in business, it has become the norm”. Collaboration acts as an enabler. It is important to be resilient and withstand difficulties because innovation process usually involves handling such things as failure, risks and the fact that a lot of times you hear the word ”No”. It is a good thing that my current profession has trained me to work under pressure and limitations, because all three challenges are going to be in my personal improvement -list for a while as learning targets. Not really used to fail 😉

Basically Open Innovation videns the basic innovation project from ”Research – Development – Commercialisation” to more accessible and friendly prosess, where also social skills are important. Companies share their information with competitors in aim of mutual gain. Networking comes down to doing and giving in co-creation. More and more people are getting together for stimulation. That is one reason why I just started volunteering in The Shortcut. The Shortcut is a community driven organisation that promotes diversity as an engine for growth. They inspire and empower their community through gatherings, workshops, trainings and programmes that help people explore ideas, share knowledge and develop skills to enable new talents required in the startup life.

 

Keynote2: Adjutant professor Marja-Liisa Manka (Tampereen yliopiston johtamiskorkeakoulu): ”Kaikkien innovaatiopotentiaali käyttöön työpaikalla – Ruudun takaa aktiiviseksi toimijaksi”

Freely translated: Everyone’s innovation potential at use in work places – Away behind the screen to become an active agent. I almost got goosebumps when I heard Manka say: ”Well-being at work is very essential part of innovativeness and that empleyees should involve in the (strategic) decision making.” Well-being at work is a subject very close to my heart and I’m even thinking about maybe doing by thesis related to improving organizational culture. This happens by developing work resources in a new way, emphasising community and trust.  It is also important for the individual to take care of his/hers own resources: development, activity and psychological wellbeing. The base of well-being at work and innovation lies in organizational culture. That’s why it is important to adjust and change work together. What are the mutual goals and requirements? How to add social resources? What it takes to improve structural resources at work?

 

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Guidelines for the community

 

The day ended in panel discussion in which eight Finnish organisations shared their experiences being part of the USCO-project. At first they shared their positive outcomes and quidelines before giving out examples when the innovation collaboration might not work. The most common warning signs were overcomplexity and self-willness. It is important to keep focus, no matter how enthusiastic people might be. What is the reason and the need? That said, it is also crucial that organization supports innovation. Timing is important, especially when constructing workshops. Dynamics can be a fragile thing and needs to be nurtured during an innovation process. Workshops are always a good idea, assuming that they come from actual need. Getting customers involved in the process ensures that user experience is also accounted for and results get better that way. Collaboration and agility shoud be in the core of actions and organization culture should be open and visible. Open innovation requires new skillsets that also includes empathy, courage, curiosity, trust, and being systematic. This was the first time I learnt about the skillsets. I was happy to notice that I can say to already possess some of those attributes already. Rest of them are about practise and learning. I’m eager to learn more.

 

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Drawing by Jaakko Porokuokka

 

As Tim Minshall said: ”You can’t do everything on your own.”

 

The author Siru Sirén is MBA student in Futures Studies and Customer-Oriented Services in Laurea UAS// Licenced social service professional

 

More information and ideas:

https://tapahtumat.tekes.fi/tapahtuma/USCO_aamukahvit/registration

http://www.uscoproject.fi/usco—english.html

https://www.innocentdrinks.co.uk

http://industrialdigitalisation.org.uk

http://theshortcut.org

Book: The Other Side of Innovation: Solving the Execution Challenge

Advice for entrepreneurs: Is you business disruptive, adaptive and scalable?

Screenshot from Youtube

John Lee, the CEO of Wealth Dragons (Screenshot from Youtube)

At the Lifestyle Business Convention in London, co-founder and CEO of Wealth Dragons, John Lee gave a talk on “How to start a business and become an entrepreneur”. One of his topics was Why do 50 percent of all businesses fail in the first year?. The most important aspect for him was that these businesses all have the wrong business model.

How to pick the right business model?

According to John Lee, a potentially successful new business should be disruptive and adaptive.

– When you start a new business, it’s got to disrupt the market. When you look at Airbnb, it is disrupting the hotel market, Lee said.

– It’s also not the smartest nor the intelligent species that survives. It’s the most adaptive.

As an example he gave the deal which the then DVD-by-mail rental company Netflix tried to make with Blockbuster with the purpose of starting to stream videos online. Blockbuster rejected the deal since “no one will stream videos on their computer”. Netflix ended up revolutionizing the industry.

Lee also pointed out that the scalability of the business is very important. Your business model has to be scalable in order to create growth and value to the customer.

Advice to new entrepreneurs:

  1. Base your business model on your personality

Lee talked about the importance of the business model regarding your personality type as an entrepreneur. For example, if you are not social, you shouldn’t base your business model on service that requires you to be involved in meeting people. If you don’t enjoy uncertainty, don’t choose a market that is notoriously volatile. Lee also adviced all company founders not to hire someone who is like them. You should hire someone who thinks differently than you and challeneges you everyday.

Do the Humanmetric test to find out your personality!

  1. Network

Never be afraid to ask: has it been proven, who is your competition, who is your audience and what are the margins? Lee emphasized the importance of networking: if you are the smartest person in your network, you are going to fail. His advice was not to reinvent the wheel, but find someone who’s got the right model already and ask for their help and mentoring.

  1. Stand on the shoulders of giants

One of the most important advice Lee gave is for everyone to find a mentor. He described how early in his career, he made an effort to find established  entrepreneurs in order to pick their brain. But you shouldn’t limit yourself to only people who work in the same industry or market. Find any successful person and ask them these questions:

  1. What do they do daily?
  2. What are their thought processes?
  3. What do they eat?
  4. What do they read?
  5. What mistakes did they make?
  6. How do they overcome challenges?
  7. How did they get started?
  8. What did they learn?
  9. What ways did they find to accelerate the process?
  10. What AHA moments did they have?
  11. What keeps them going?

 

Text: Leena Salo