Business growth principles in the new economy
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The document outlines business growth principles in the current economy, highlighting how disruptive technologies and lower barriers to entry are transforming industries and creating opportunities for startups. It emphasizes the importance of ecosystem thinking, confluence of physical and digital worlds, and the need for continuous innovation in business models, all while prioritizing human-centric approaches. Key principles such as fostering partnerships, embracing technology responsibly, and maintaining a commitment to learning are presented as essential for thriving in a volatile and complex environment.
Business growth principles in the new economy
- 1. in.linkedin.com/in/ashishrbedekar/ ashishrbedekar Business growth principles in the new economy This presentation is the creation and intellectual property of Ashish R Bedekar.
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- 3. IBM 5MB Hard Drive Being Loaded Onto An Airplane In 1956 http://bit.ly/2qFtcjl 3
- 4. 'Amateurs’ will beat the experts • Wright brothers story • Startups will disrupt industries ( & their experts) • Cost of creation, experimentation, collaborating is reducing every day . Innovation is no longer futurist ( Jo Ito ,MIT media lab) Some examples of disruption in action • Hard drives by Solid state drives and cloud • GPS units by Mobile/Google Maps • Automobiles by Electric cars/ self driving cars/mobility as a service • Traditional “Linear TV” by Mobile apps/Time shifting/mobile apps • Budget hotels: by Airbnb • Sms/voice: by Messaging apps like whatsapp/Voip like Skype 3
- 5. The world has already changed http://bit.ly/2xXk1R5, http://bit.ly/2xXb2j4 5
- 6. Key forces driving disruption ● Disruptive technologies like IoT, AI/ML, AR/VR, 3D- printing, Robotics, Blockchain, Social Mobile Analytics Cloud ( SMAC) etc ● Democratisation of technology/Lowering of entry barriers, Lowering of costs e.g Cloud services ● API Driven Open innovation collaboration ● Open H/w: Arduino/Rpi etc ● Startup ecosystem ( accelerators,incubators, Investors,Communities, Industry bodies etc) ● Interconnected technologies and business model innovation ● Technology is an enabler. Without having an innovation agenda, companies will not be able to thrive 6
- 7. Example of uncommon partnership driving innovation-1 Home improvement chain in US partnering for 3D printing applications and creating new use cases for business http://bit.ly/2y1XMJa 7
- 8. Example of uncommon partnership driving innovation-2 8
- 9. Business context Count of entities Business Volume A represents big accounts/ Projects. B represents the long tail, currently small in business, but it is the future of growth opportunities e.g 1)startups start small and then ramp-up ( e.g Ring was once a startup and later acquired by Amazon for $1 Billion.) 2) New technologies ( IoT, AI etc) start small. It is important to focus on A & B so that product roadmap, business opportunities and future growth are all factored. 9
- 10. Business context POC/Hobbyist phase/Long tail “B” from earlier slide Real enterprise projects. “ A” from earlier slide This gap needs to be bridged! 10
- 11. Some growth principles 1 Ecosystem thinking 11
- 12. Fred Wilson- Dentist Software story "....This story is designed to illustrate the fact that software alone is a commodity. There is nothing stopping anyone from copying the feature set, making it better, cheaper, and faster. And they will do that. This is the reality that Brad and I stared at in 2003 as we were developing our initial investment thesis for USV. We saw the cloud coming but did not want to invest in commodity software delivered in the cloud. So we asked ourselves, “what will provide defensibility” and the answer we came to was networks of users, transactions, or data inside the software. We felt that if an entrepreneur could include something other than features and functions in their software, something that was not a commodity, then their software would be more defensible. ..." http://bit.ly/2wruyPw Ecosystems unlock network value ! 12
- 13. What are the benefits of a ecosystem ? 13
- 14. What are the benefits of a ecosystem ? 14
- 15. Some growth principles 2 Confluence thinking ( Physical world & Digital) 15
- 16. Confluence thinking ( Physical world + Digital) • Rise of IoT/Mixed reality/Cloud/AI /Big data /Block chain etc. • Physical world attributes captured as data, analysed for insights • AR /VR overlay of data + physical world Photo : Wikipedia 16
- 17. Confluence thinking ( Physical world + Digital) http://bit.ly/2Hed6Es, http://bit.ly/2EU5O6x, http://bit.ly/2EWURkG ● Are you aware of the impact of technology in your domain/sector/vertical? ● Are you factoring real world constraints/experience during technology adoption? 17
- 18. Confluence thinking ( Physical world + Digital) http://bit.ly/2HbI1Ru Not keeping an open mind can hurt! 18
- 19. Some growth principles 3 Biz models innovation in a VUCA world 19
- 20. Biz model innovations in a VUCA world ● We are in a VUCA world ( Volatile ,Uncertain,Complex,Ambiguous) ● Continuously scanning the environment and innovating in the biz model is crucial ● Natural ecosystems teach us that species which evolve(mutate) as per their environment thrive http://bit.ly/2xTEKFt 20
- 21. Biz model innovations in a VUCA world http://bit.ly/2HcxoxQ http://bit.ly/2HcxoxQ 21
- 22. Biz model innovations in a VUCA world http://bit.ly/2H8IvYG 22
- 23. Some growth principles 4 Putting humans first 23
- 24. Putting humans first ● Technologies like robotics,drone,AI etc are meant to serve humans ! ● Likely backlash impacting adoption if technology does not have an holistic view ● Human behaviour is not perfect, biases, wrong decisions likely to be amplified if adeqate care not taken ● Many transactions( buying /selling) between AI bots etc will be common, hence more critial to have human focus! ● Privacy, Cyber security, Identity will be key areas to focus ● Diversity, Culture, ethics etc will be crucial 24
- 25. Putting humans first http://bit.ly/2EWQKVQ, http://bit.ly/2EX8fVY http://bit.ly/2Hb6re2 25
- 26. Some growth principles 5 Always keep learning 26
- 27. Always keep learning ● Creativity, Innovation and other qualities which are the source of all human endeavours needs to be nourished for growth http://bit.ly/2Hb1MbQ ; http://bit.ly/2HbmU1U 27
- 28. Always keep learning http://quotesgram.com/do-or-do-not-yoda-quotes/ 28
- 29. Questions? 29
- 31. Be the Bee! Blockchain Augmented & Virtual reality Robotics AI and other new horizon tech # Persistence # Energy # Nurturing an Ecosystem ( Honey = Objectives for Organisation, Flowers = Ecosystem partners who benefit from Organisation) 31
- 32. Back up 32
- 33. Innovation processes can tie all this together- Partnership is key http://bit.ly/2xWE7uP,http://bit.ly/2xXcqCi 33