Building Businesses

You can’t out-innovate the market

Technology is now a core competence of business – it’s an issue firmly on the boardroom agenda. But, technology moves faster than business. It always has and it always will. The opportunity gap this creates means that big businesses are dying as fast-moving, innovative new entrants steal their market share.

You can’t out-innovate the market. No matter how good your team is, you don’t have the monopoly on all the good people. It’s time that large corporations recognise that their internal teams cannot keep up: innovation cannot just happen internally.

Organisations must look outside their own walls to see what is possible and then provide the platform to make it happen, so that they can give their customers what they want. Otherwise, those customers will find someone else who will.

We have a very simple and effective 2 pronged strategy for helping corporates innovate…

1. Discover what’s possible

For businesses to survive, they have to practice open innovation. This means looking outside a traditionally small number of strategic partners and discovering what else is out there, discovering what’s possible. It is not enough to build an innovation centre and hope that this feeds into the wider business, you have to really understand what opportunities are out there, opportunities that are popping up faster than your internal teams can keep up with.

We’re not just talking about this, we’re helping our clients actually do it in practice. We are scouting every day for the latest innovations, vetting them and matching them to our clients’ problems. Our in-depth understanding of their industries means that we can show our clients the huge impact they could make on their businesses, helping them change the game in their industries. In fact, we’re finding that they didn’t know 90% of what we’ve been showing them existed!

We can do this because our people are there, on the ground in the startup ecosystems of Silicon Valley, London and Tel Aviv – we’re not just doing desktop research. Every day, we’re working alongside the leading VCs, startups, academic communities and the research labs of the tech titans to make sure that the scouting services we deliver to our clients are unparalleled.

Elixirr's design thinking methodology is a refreshing & totally different way of looking at problem solving. I was especially impressed with the frequency and style of customer testing as part of the design process which led to customer approved solutions in a way I've not seen before. It’s transformed the way my team thinks.

Jim Brown, CEO, UK Challenger Bank

2. Make change happen

It’s all very well finding the innovation that will not only ensure your business survives, but potentially change the game in your industry. But how do you take that innovation and deliver real change to your business in practice? How do you overcome the corporate antibodies? How do you overcome middle management’s natural desire to apply today’s methods to the same problem?

We design and implement business and operating models that will help you make this change happen – that is what we do best. Culture eats strategy for breakfast! Our people have decades of transformation experience across multiple industries and can help you implement the cultural, behavioural and technology change inside your business. It’s this experience that will enable you to deliver what your customer is demanding … before they go somewhere else.

We are perfectly placed to deliver this because we understand both sides. We are a relatively small business ourselves, but we work with big corporations every day. We know what it means to engage with big corporate practice and process, and we know what it means to be a startup.

We also know that both sides can learn a lot from each other and as a young, entrepreneurial firm with experience supporting both communities, we can bridge this gap and make change happen for startups and our corporate clients alike.

Our simple two-pronged approach – showing our clients what is in the art of the possible, and then making change happen –  means that we’re seeing 4 common themes raise themselves in the boardroom every day.

4 Key Boardroom Themes

Innovation, Survival & Disruption
Profitable Growth & Customer Value
Security, Regulation & Risk

In addressing these 4 themes, we are a 'capability first' firm.

How we do it

I really wanted to open the minds of my team to the art of the possible. The Elixirr team clearly know what they’re talking about. My team was genuinely wowed & hasn’t stopped talking about it since, & more importantly the opportunity that lies ahead. I would have no hesitation in using them again.

Chris Potter, Head of Operations, ICBC Standard Bank