Time for Action?
Some firms are hunkering down to wait out the upcoming recession. Others are making use of the waiting time by fine-tuning their organization. Most are conserving their capital. However, it could be a good time to drive your future innovations. Resourcing has always been a major issue for firms with more to do during a growth period, and access to lead users is difficult. So, now is the time to use existing resources to
- Build a bridge between technical and market facing teams to accelerate focus on what is needed to bring the innovation concept(s) forward faster.
- Reach out to the potential market segments who may value your innovation. Now they are in the same boat as you – looking for unspoken needs in their customer base so they can be the preferred supplier.
- Focus your resources on those concepts that have the most promise for faster beta testing before losing leadership attention as the market returns to normal.
- Drive early market testing while equipment is underutilized to enable rapid ramp up as the market comes back.
- Obtain and maintain internal leadership agreement on resource allocation.
- Evolve your strategic plan along the way to adoption.
- Prepare your broader organization for the launch before they are consumed by the dynamics of recession regression.
Breakthrough Marketing Technology has the experience and tools to help you along the way. We have an Accelerated Innovation framework and the time NOW to provide you with the support that can make for a smoother and faster transition.
How does your business plan to use the recession? Leave a comment below and let us know. Let’s start this conversation.
Have you taken our poll on your business’s plans for the recession? If not, click the link below to take our poll on LinkedIn.
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