view legal foundations for the future the ‘how to do it’ webinar – purpose lead performance -...
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PURPOSE LEDPERFORMANCE
Matthew Burgess
The Firm of the Future ‘Now’
Deconstructing the framework
Success stories
The fails
Your questions answered
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Ries – The Lean Start Up
What exactly is MVP
Terrible
Full of bugs
Crashes your computer
Ship and charge way before it is ready
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Definition of Minimum Viable Product
Start up keys
Learn how to build a sustainable business
Build, measure, learn, pivot/persevere – repeat
Accelerate the loop
What customers will pay for – Asap
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The challenges
Too few ideas = politicians lobbying
Synthesis vision of company + what customers accept
Avoid capitulating to customers
Without failure, you cannot learn
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4 key questions
Do customers see solvable problem
Would they buy solution
From you
Can you build the solution
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Thiel – Zero to One
An overview
It is better to risk boldness than triviality
A bad plan is better than no plan
Competitive markets destroy profits
Sales matter just as much as product
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Some keys
Monopoly = success
Google example = hiding monopoly
10x the next best solution
Fools Gold – 1% of a huge market
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Some tips
Become a monopoly of one –
you & your firm
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Avoid disrupting –Avoid competition
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Gladwell = overrates chance +
underrates planning
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Indefinite thinking –focuses on maybes
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Eroom’s law = new drugs halved every nine years
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Secret sauce
Meticulously design, imagine and execute a definite plan
No MVPs
No focus groups
No copying successes of others
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Only invest in thing = return thevalue of all other plays
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de Bono and Lyons – Marketing without money
4 value drivers
Convenience
Quality of life
Self importance
Distraction
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Some guiding principles
motivation - simple possibilitiesof creativity
attitude – challenging incumbent thinking
focus – specific problems
contrarian - opposite to what’s takenfor granted
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Managing R&D
Cataloguing cross industry ideas
Generating by pinpointing specific needs
Developing products
Testing
Iterate
Repeat
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The View view
The core = integrated estate planning
Value = skills in content + delivery
Formula = more for less
Hero’s journey = fearless of failure
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The Dream Enabler
Some context
Common placing
Brain food
Gardening leave
The White Book
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10 tips from the Orange Book (Part I)
Rocks first time; every time1
Eat the frog2
Pomodoro, white noise and flow3
100% is easy; 99% is hard4
When it doubt, flick it out5
10 tips from the Orange Book (Part II)
UPOD6
The 3 step work test7
Check the back of your iphone8
ROWE9
Write the book10
Some ideas (?)
True knowledge sharing – internally and externally1
Uber-ifcation2
MVP of service delivery3
Skunkworks v rip off band-aid v investment play4
Fit for purpose5
Concept/R&D
Branding
Manufacturing
Sales/After Service
Marketing
Design Distribution
Production Chain Time
Under this
model manufacturing
is the lowest value
input
Valu
e a
dded
Lower
Higher
STAN SHIH SMILE CURVE
The Black Book
Answers – what next…
Only for the serious
VEO
Applications open
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Some ideas (?)
True knowledge sharing – internally and externally1
Uber-ifcation2
MVP of service delivery3
Skunkworks v rip off band-aid v investment play4
Fit for purpose5
Downes – Big Bang Disruption
4 phases of strategy
Porter – differentiate on features OR price OR market segment
Christensen – innovator’s dilemma disruptors work from the bottom up
Blue ocean strategy – disruptors create entirely new market from a side angle
Big bang disruption – attack from top + bottom + side , but from all three at once
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Big bang disruption
Exponential growth
Simultaneously better + cheaper + customised for all customers
No secrecy = work in the open with all assisting in iterations
No proprietary technologies = simply combine cheap off the shelf hardware + software
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Crazy = Correct
Churn out dozens of new products
Accept most will fail = one will win
The model = rapid fire + low cost experiments + ubiquitous technology + existing infrastructure
Radical + urgent cannibalisation of your own best product
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=
The 4 roles in BBD
Inventors = create better + cheaper technologies
Designers = combine off the shelf components to createnew products + services
Producers = provide component parts for the ecosystem
Assemblers = use designs + parts of others to manufacture finished products and solutions on demand
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Geoffrey Moore’s ‘Crossing the Chasm’ diagram
smallerchasm
Innovators Early Adopters Early Majority Late Majority Laggards
The BigScaryChasminQuestion
Circa 1991
Traditional technology adoptionversus big-bang disruption
Source: Accenture Analysis.Note: This chart appears in “Big Bang Disruption: The innovator’s disaster” from Outlook 2013, No. 2, an Accenture publication. Copyright 2013 Accenture. All rights reserved.
Innovators(2.5%)
EarlyMajority
(34%)
LateMajority
(34%)
Laggards(16%)
EarlyAdoptors(13.5%)
Trialusers
Vastmajority
Big-bang market segments
Tipping point market segments
THANK YOUMatthew BurgessDirector
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Email: [email protected]
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