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

Mobile: 0403 209 977

Email: matthew.burgess@viewlegal.com.au

Website: http://www.viewlegal.com.au/

Blog: http://www.blog.viewlegal.com.au/

Twitter: https://twitter.com/matthewwburgess

Linked in: http://au.linkedin.com/pub/matthew-burgess/1a/170/675

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