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Pivoting Your Way to Profitability

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End of Innovation Conference
Pivoting
Your Way to Profitability
Somik
Raha, SmartOrg
There are many unforeseen hazards between concept and
launch. Pivoting provides a unique opportunity to learn from experience and to
change course at key development stages, making the difference between
attaining mediocre results and achieving astounding success.
'I define innovation as being a participant in our
collective evolution,' says Somik. 'The method is a way to become who we aspire
to be.'
Decision analysis is key in strategic thinking. The core
question is 'what does value mean'? Somik says you cannot actually measure
value. The purpose of having a metric is
to drive 'productive action,' he says.
This insight gave birth to another one: 'Quantitative
analysis takes complexity off the table, so you can focus on who you want to
be.'
Numbers are not about measuring the value of innovation, but
rather about pivoting the actual market penetration. Using modeling techniques
provides a value-creation lens that helps pivot a go-to-market strategy.
Insight Two: Executives do get innovation. They just need to
know handoffs and the team's understanding of the context.
Insight Three: Finance will support innovation if you
provide a path to preserve existing revenue and increase customer loyalty.

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