Big or small, enabling innovation and growth can be challenging internally. Our team of experts have helped businesses unlock revenue, disrupt sectors and innovate for their customers.
At Future Arc, our experience in incubating, designing and developing new brands and concepts has helped us to understand the complexities of growth.
We have core methodologies we take clients through but importantly can be flexible to the maturity of your journey.
From go-to-market strategies to identifying new opportunities for established brands we can help!
Strategic Innovation helps organisations reinvent or redesign the corporate strategy. It helps the executive level answer important questions like: ‘What is the future of my Industry?, Where are the future value streams and how do I capture this value?. This type of approach is essential if organisations are to adapt to social, technological and business model changes. It is crucial to business growth and longevity as it creates real competitive advantage at the strategic level; and identifies to the organisation where new value propositions can and should be created.
An ecosystem is a dynamic network of multiple independent actors (suppliers, customers etc.) all involved in the delivery of a specific product, service or outcome through both competition and collaboration. Collaboration is becoming a competitive advantage and more organisations are turning their focus to understanding the power of working together towards a common goal or overcoming a common challenge. Whether you actively want to create and lead an ecosystem or you’re already part of one without actively engaging with it, we believe it’s crucial to understand the role you play, the value you create and most importantly how you can harness the ecosystem to drive business growth.
Go-to-market is the organisation strategy or plan for taking a new or existing product or venture to market successfully. This encompasses both an up-front assessment of the market covering quantitative and qualitative analytics and the subsequent development of the go-to-market strategy on how to take that product or venture to market. Getting this stage right is crucial for growth, but it can be challenging to understand the most effective ways to conduct the analysis and most importantly drive value from the insights. Our expertise in this area can guide or even deliver your insights and empower your organisation internally to activate the GTM strategy and get results!
Our approach to delivering strategic innovation is typically done through our Phoenix Method. This approach entails taking a core set of senior and exciting members of your team and placing them through the process of disruption threats, future scenario building and finally ideation. Our true focus is not about the fact that Netflix modern approach killed Blockbuster, but how do you forsee the ashes of an incumbent business and the company that will rise out of them.
Our process covers three areas which can be conducted over a flexible time frame:
Disruption and Inspiration. New technologies, business models and societal megatrends are altering your business and ecosystem. Understanding them and looking them in the eye enables a cultural shift and urgency for the team. What-if? Scenarios are identified and mapped against impact and time to effect.
Future World. We combine the What-if statements to create a number of plausible future world scenarios. From here we discuss who your customer is, what kind of pains/gains they feel, where organisations sit in this new world order and how you could defend your existing organisation within this scenario.
Breakthrough. Breaking into teams, we set the exam question: ‘In this future world, what new business would you create to deliver your strategy if you had unlimited funds, reduced reputational risk, no shareholders or stakeholders to consider? This is how a new pheonix arises out into the new world.
We help set up clients innovation and venture programmes, supporting the client to build new value creation in the most modern and lean way. This covers a number of areas: What is your objective for an innovation programme? What type of innovations and concepts would you like to cover, is it purely revolutionary or is it continuous iterative improvements? Who is innovating your whole workforce alongside their day-to-day roles or a specific, full-time innovation team.
Once the strategy and direction is established, we can create a playbook with you on how to innovate and venture. This will cover the innovation process from ideation to operationally delivering a new product or service; the toolkit on methodologies on how to innovate through to less glamorous but just as important governance around innovation to ensure your programme is derisked and cared for.
Once you have a strategic north star of where you are going to play, we help you and your teams determine how you are going to play and win. We do this by designing, developing and validating new products and services for you that are based on an identified customer need. Coming up with new business concepts is not the hard part – the difficulty lies in coming up with the right value proposition to invest resources into at the right time. We begin by identifying the true problem – without a strong problem to solve, there is no requirement to start to solutionise. Once we’ve validated this problem with users, only then do we start to build the business case around a value proposition. This entails a deep dive into the desirability (will our customer need and use it?), feasibility (can you execute and deliver the concept) and finally viability (will it make sustainable profit and achieve your business objectives).
Escape the hurdles of innovation within your organisation to capture value at pace.
When thinking big and bold creating the next generation of revenues for your organisation a key question you need to ask yourself is whether it makes more sense to build and launch these internally, or to spin them out as new separate companies. The reasons for doing this are all linked to one metric: will this innovation succeed. Spinning out a venture has to consider if the innovation will:
Future Arc can help you navigate these questions and help you spin out your concept; from the legal structure and raising funds through to operationally supporting the development, as well as launching and scaling of a new venture.