Business Innovation | The 3 Horizons of Growth
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- เผยแพร่เมื่อ 21 ส.ค. 2024
- When it comes to business innovation and growth, projects can be difficult organise and structure. Get your downloadable guide to the Three Horizons of Growth here: hubs.la/H0WkQ5x0
We’ve adapted McKinsey's ‘Three Horizons of Growth’ to create our own innovation resource to help us to align business innovation with business growth and manage our product portfolios!
Product portfolios are pretty tricky to manage. Alongside the core business, you’ll likely be testing alternative business models, revenue models, new products, experiments and even whole new businesses, while ensuring and developing product market fit. So how do you keep track of all of these proposals?
The Three Horizons of Innovation and Growth help to classify these projects and products in a sensible way that looks at the long, medium and short term needs. When it comes to product innovation, you’ll need to balance the potential pay off of an idea with the level of risk that that project will involve.
By using three horizons, you can establish which products are your core business offerings, which are adjacent offerings, and which are huge, potentially market-disrupting ideas, and decide how to balance your resources between them to maximise and optimise business innovation and encourage company growth.
At Growth Tribe, we work with an “innovate or die” mentality, designed to keep us on our toes and ahead of the curve.
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Amazing job at explaining this David! 💪
I'm happy to answer any further questions on the innovation framework or portfolio assessment. Also looking forward to see your comments here about how you're applying these at your company!
Great video l the would like to see another video on how to validate the impact of this innovation initiative.
It's eye-opening to see the three horizons explained in combination with the company process and key metrics. Great job, David!
One of the best resource on this platform!
Interesting video! Always learning new things with Growth Tribe!
This is brilliant! Super insightful, the portfolio management tool is really useful too 👍
Go ahead make it
This is such a great delivery and explanation. It has helped me so much with my studying, I'll be referencing this bad boy a few times!
This video contained really high quality and super useful content. Thank you!
Great video summary and packing in so much. Did you make the follow up video?
Great video, packed with value. I'd love to hear more about how you validate or invalidate certain assumptions as the examples you gave were already quite interesting.
Amazing content! Congrats
Thanks! Would love to learn more in your next video(s) on validation assumuptions & running experiments
Yes, please go more in depth on it on a separate video!
Hey Jacob, thanks for the feedback! What else would you like us to cover? In the meantime, check out our resource: grow.ac/businessinnovation
Awesome content! Knowing, learning & understanding a whole new aspects of growth. appreciate your works!
This is SO packed with awesome info
Oh wow. Great explanation again. I find this useful for The Grow Fast Project in Nigeria. I'll share my results later. Thanks for the video.
We're glad you enjoyed it!
Excellent Video. It would be great the video about validate or invalidate ideas.
Great Video. Thanks!
great video, love the level of detail and example to make a concept that is talked about, and often misunderstood, and rarely manages to link the horizon's together, nice one!
Another awesome video made by the Tribe 🔥Thank you. I would love to get an in-depth video about testing methodologies 🍍
I really like the E score. That seems useful for a Gig economy. If you made the Hour Feed link to employee calendars you could use real-world hours available and increase the price for a project-based on that person's dynamic hourly rate.
Would love to see the Follow up video about validation
Hey friends, download your dashboards!
Being wrong might hurt you, but being too slow will kill you.
Sounds wonderful, could you do the next video with top class startups which you skyrocketed success?, meaning the ones are now like FB, Airbnb, Skype, etc.
wow amazing, I have to admit that really good work and into to the point, thanks for sharing
Hey David and Jim, great content thanks a lot! Question: How do you track free time of people? We use scrum in most departments and there is no such thing as hours as every task has just some weight in execution points. What method of team work do you use to see real hours available for Q1?
Great video, like always!
Thanks, Mike!
Great video but the background music ....
Is it necessary to have similar business concept in H3 same as in H1? In this example, electric brush in H1, H3 innovations should it be bring revenue to electric brush or can I bring other cosmetics or different domain business concept?
Hey David!, where you or your team edit your contenent, this beautiful graphics, and video edition? :D
Go for it!
Thanks, Pedro! 💪
Great video as usual! But I'm kind of confused here, the only offer I see you guys put out in the market are courses. Where's the outcome of all this innovation tatics?
Hi Daniel. Courses constitute the core of our business and it's harder than it looks to get one to product-market fit. Courses are our H2 innovations. Thanks to this process we've also set up traineeships, international franchise models and corporate products that you don't see on the website. The outcome is a growing portfolio of value propositions. We're also working on h3 but haven't nailed that yet.
Next time don't add the music so loud. It is almost the same volume as your voice in some parts of the video