Post on 08-Sep-2014
description
Peter Fisk
Budapest, January 2012
Summary … find out more at www.PilotFishLab.com
Most businesses reach the point where further growth is difficult.
Going beyond their existing markets is full of risks and
uncertainty. Entering new markets, geographies or categories, is
the moment when many successful companies fail.
“Pilot Fish“ is a strategy for more effective growth in today’s
turbulent markets.
The best opportunities for growth are in deep blue oceans, but few
smaller companies are able to reach them, compete in them and
thrive. Except the „pilot fish“ …small, special and very strong.
However the most difficult part of growing a business is when you
seek to enter new markets. They are hostile and different,
demanding new knowledge and capabilities, and requiring
significant investment and resources.
“Pilot Fish“ strategies are counter intuitive. Instead of becoming
bigger to grow, it is about remaining small. Rather than
diversifying into new products and services, it is about focusing on
less to achieve more.
In nature, pilot fish (naucrates ductor) swim with the big fish, doing
the things they can’t or don’t want to do, whilst being protected
and sustained. In business, “pilot fish“ work with strategic partners
providing a small number of specialist ingredients, but with huge
potential scale. Cont …
Intel is the ultimate “pilot fish” attaching itself to the technology giants,
becoming an indispensible component. Jibbitz created decorations to
Crocs shoes and was acquired by latter for USD 20 million. So in
addition to create scaling opportunities, Pilot Fish strategy opens up
great exit opportunities. And there are many others. Small, strong and
specialist companies that found that they can have huge impact through
focus and partnership, doing less to achieve more.
Like Estonian mobile phone operator EMT that has little chance to
compete against orange, Vodafone or alike but has lucrative
international business by providing roaming pre-paid cards to all of the
major telecom players. It also works at individual level: Cath Kidston,
the designer grown through licensing from her kitchen and co-
operating with Tesco, Nokia and others.
If you are not big but you wish to swim with big, benefit from their
presence and strength, you need to become a Pilot Fish. The process
itself is simple:
1. First you identify your core competence or experience – what is it
that you are really good at?
2. Then you search for a candidate, that might have a need for it.
3. Then you manage your company and this relationship so that it is
mutually beneficial.
4. And then you decide, whether to make a next push to grow into
“shark” or sell your business to one.
Pilot Fish can help any kind of business to grow. This presentation is
specifically for meeting planners to grow their own businesses,
however the concept can equally be used as a “total concept” for an
event for business too.
How will you grow your meetings business?
Most companies reach a point where growth is difficult ...
... entering new markets, geographies and categories ...
... is when many previously successful companies fail
Where are your biggest opportunities for growth?
New meetings
New locations
Entering new markets
New meetings
Where are your biggest opportunities for growth?
New locations
Entering new markets
Entrepreneurs
Product launches
New meetings
Where are your biggest opportunities for growth?
New locations
Entering new markets
Entrepreneurs
Virtual conferencing
Community building
Product launches
New meetings
Where are your biggest opportunities for growth?
New locations
Entering new markets
Entrepreneurs
Virtual conferencing
Community building
Managing change
Driving innovation Product launches
eLearning
New meetings
Where are your biggest opportunities for growth?
But in the deep blue oceans of a changing world ...
... The big dangers are waiting for you
and in global markets ... everyone is hungry for new growth
Many companies turn to partnerships to survive ...
... working in partnership to add specialist capabilities
... working in partnership to reach new audiences
Growth partnerships can take many different formats ...
Higher impact
Lower risk
Exporting
Joint Venture
Acquisition
Consortia
Alliances
Licensing
Co-Distributing
Co-Branding
?
So what about you? How should you grow?
Instead of competing against the big companies ...
... how can you learn to work with them?
Intel became the indispensible partner to PC manufacturers ...
... and Lycra became famous for its distinctive added value
Little fish who learnt to swim with the sharks ...
We call them ... pilot fish
pilot fish ... a new breed of business
pilot fish ... a new breed of business
Uniquely different
Mutual support
Growing together
Growth is difficult So how can you become a pilot fish ?
Growth is difficult So how can you become a pilot fish ?
1. Focus uniquely
Growth is difficult So how can you become a pilot fish ?
1. Focus uniquely 2. Find shark
Growth is difficult So how can you become a pilot fish ?
1. Focus uniquely 2. Find shark 3. Grow together
Growth is difficult So how can you become a pilot fish ?
1. Focus uniquely 2. Find shark 3. Grow together 4. Realise value
phase 1. Find your uniqueness ... what you can do better
1. Focus uniquely 2. Find shark 3. Grow together 4. Realise value
We know markets have changed forever ... phase 1. Find your uniqueness ... what you can do better
Differentiation Growth
Profit Strength
What are your
most valuable
products?
What are your
strongest
capabilities?
For example … Focus growth on new markets, eg China
New locations
Entering new markets
Entrepreneurs
Virtual conferencing
Community building
Managing change
Driving innovation Product launches
eLearning
New meetings
For example … focus growth on entrepreneurs, eg start-ups
New locations
Entering new markets
Entrepreneurs
Virtual conferencing
Community building
Managing change
Driving innovation Product launches
eLearning
New meetings
For example … focus growth on change management
New locations
Entering new markets
Entrepreneurs
Virtual conferencing
Community building
Managing change
Driving innovation Product launches
eLearning
New meetings
pilot fish ... YKK
pilot fish ... Dolby
phase 2. Find your shark - the right partner, the right market
1. Focus uniquely 2. Find shark 3. Grow together 4. Realise value
We know markets have changed forever ... phase 2. Find your shark ... Evaluating the adjacent markets
Category
Customer Country
Entering new markets
Business
School
Advertising
Agency Government
Bodies
For example … Potential sharks to help you enter new markets
You You You
Government
Bodies
For example…Potential sharks to help you reach entrepreneurs
Entrepreneurs
You You You
Business
Magazine
Government
Bodies
For example … Potential sharks to help you manage change
Managing change
You You You
Management
Consultant
pilot fish ... Wieden+Kennedy
pilot fish ... Johnny Depp
phase 3. Grow together ... Creating a symbiotic relationship
1. Focus uniquely 2. Find shark 3. Grow together 4. Realise value
We know markets have changed forever ... phase 3. Grow together ... Creating symbiotic partnerships
Adobe Acrobat
Entering new markets
Advertising
Agency
For example … How could you work together with your shark?
You
Advertising
Agency
For example … How could you work together with your shark?
You
Business
Magazine
Entrepreneurs
Advertising
Agency
For example … How could you work together with your shark?
You
Business
Magazine
Management
Consultant
Managing Change
pilot fish ... Adobe
pilot fish ... Visa
phase 4. Realise the value ... the potential of pilot fish
1. Focus uniquely 2. Find shark 3. Grow together 4. Realise value
We know markets have changed forever ... phase 4. Realise the value ... cost, revenue, profit, potential
Inc Revenue
Red Costs
Potential to double
economic value
within 5 years
Source : Impact of Intel strategic alliances
1995-2005, Wharton, plus other analysis
How will you turn your best opportunities into better growth?
Advertising
Agency
You
Advertising
Agency
You
Business
Magazine
Advertising
Agency
You
Business
Magazine
Management
Consultant
pilot fish ... Goretex
pilot fish ... WuXi PharmaTech
How can you win in your “blue ocean” opportunities?
... how can grow faster, cheaper and with less risk?
Become a pilot fish
pilot fish ... clever strategies for business growth
pilot fish pilot fish
clever strategies for business growth
pilot fish
pilot fish
Pilot Fish is a total meeting concept … that can be customised by an event organiser for a client or local
market … it is typically held as a one-day conference, followed by a one-day workshop, followed by physical
and online networking and support …
Blue Seas is an inspirational event that presents the pilot fish idea. It will be delivered as “ready made” where
Pilot Fish team:
• creates a unique “aquarium” format
• develops all the content: keynotes and talkshows
• brings together experts and local contributors
• designs and implements the visual and technical aspects of an event (if needed)
Deep Dives are hands-on strategic workshops where pilot fish facilitators help
small mixed teams, in-house teams or individuals to create their own pilot fish strategy
and implementation plan. Pilot Fish team provides:
• unique process, and set of tools and templates
• expert facilitators who understand the process and your markets
• framework for unique pilot fish strategy of your business
• international best practice and local market insight
Fish Nets take pilot fish strategy into action. These are intensive match-making events,
both physical and viral, facilitated by our impartial experts who
• bring together potential sharks and pilot fish
• facilitate the right interactions based on your pilot fish strategy
• explore options for pilot fish to enter new markets with help of sharks
• help shark companies to find high value added pilot fish partners from your market
Find out more at www.PilotFishLab.com
peterfisk@peterfisk.com
www.PilotFishLab.com