Tips for innovation; How companies small and large stay ahead of their competition

Tips for InnovationHow companies small and large stay ahead

of their competition

Chirag Kulkarni@cgkulks

CEO of C&M Group

Who am I?

Serial Entrepreneur, advisor, Motowner

What is Innovation?

1.People2.Process 3.Product

1.Purpose2.People

3.Process 4.Product

1. What is your purpose

• Why do you exist?

“To bring inspiration and innovation to every athlete in the world”

“To inspire and nurture The Human Spirit – one person, and one cup at a time”

Difference?

Emphasis on mission, not money!

The STR story

• Early Startup• Money > Mission • Cost Cutting vs. Customer Service

• Kevin Systrom – Founder of Instagram • Build a community

2. People

Care? Retention?

Empowerment? Growth?

• John Pepper – Founder • Operated like a typical fast food

chain• Realized people do tedious jobs • Improved: Salary for employees,

benefits

People #2

• Hire right from the start• Focus on transparency vs.

dominance • Encourage new ideas

3. Process

• How NOT to Innovate • Linear Model

Process – How to Innovate

• Bring people together • People = catalyze innovation• Horizontal vs. Vertical Management • Market Pull

• Group of Entrepreneurs • Gap in consulting industry • “Entrepreneurial Consulting for

entrepreneurial organization”

• Partner network • 60% of revenues• “We help you, you

help us “

4. Product

• “Look in the future by looking deep in the present; real needs, issues, from the top to bottom” - Hal Gregersen, Insead• More value for the same products

Thoughts on Product

• Jump the curve• Iterate, iterate, and iterate• Customer feedback

Questions?

Chirag Kulkarni@cgkulks

Chirag@chiragkulkarni.com