How to innovate and grow your business
This Business innovation workshop course is designed for UK Tech founders and entrepreneurs who are looking for ways to innovate and grow their startups. The founders forum will help you take away key tools of design thinking, and grow your business by creating new customer segments. It also provides an effective way to have high quality interaction and form alliances with other founders.
@DanielTuitt Innovation Consultant
Daniel is a highly recommended Open Innovation Specialist who works to help transform the mindsets of businesses and boost the UK’s digital economy through understanding their ecosystem and build long term partnerships. His previous experience includes consultancy roles at Digital Catapult, Ctrl-Shift, ANGLE Technology.
Daniel has expertise as a workshop facilitator running Innovation design workshops using ideation and business model frameworks that include OpenIDEO, Design Jam and the Lean Start-up Circle.
We are all expected to innovate in order to differentiate ourselves from the competition and grow our business. The focus of the founders forum was to exercise, work on examples, discuss, solve issues and work in groups. And also go through an innovation process in the context of business growth.
Founders Forum Workshop Agenda
Outcomes would be to
1] Generate new ideas by thinking in different ways.
2] Answer the right questions which lead to an innovation.
3] Gain a broader perspective of the customer experience.
Objective: A clear action plan or blueprint to support your business strategy.
Strategy & Innovation
The founders went into groups to exercise, work on examples, discuss, solve issues and go through an innovation process in the context of business growth. At the beginning of the session group leaders were taken through mindmap exercise on the board for an overview of ‘Scaling your Startup‘.
Then the groups settled down to Case study approach based on a Startup which had developed an App, using real time ‘visualisation mapping’. We ran various exercises which included  What If Scenarios  Bring your Idea to the Marketplace  Developing a growth road map
The groups shared their insights gained with a snapshot being:
1] Critical area is avoiding ‘the chasm’ between steady growth and scaling
2] Creating and maintaining new customer segments to scale the business.
3] Firm grasp of customer personas needed, importance of ‘early adaptors’ to gain initial traction then avoid ‘the chasm’ with ‘early majority’.
Scaling your Startup
1] Get a firm grasp of your business model and customer acquisition at the beginning.
2] Very important to build talent and capacity to ensure ‘product type’ pipeline.
3] Clearly understand the stages and investment type needed e.g.’seed/angel/venture capital’.
4] Understand different mindset required between ‘problem/solution’ fit and ‘product/market’ fit stages.
The Founders Forum Workshop ended with networking
@LBSAcademy provides a UK Tech Business Growth Hub that supports Tech & Creative Startups to grow and scaleup. We have a dynamic business community that helps support your Startup.