Market roadmap: Why entrepreneurs connect experiences to innovate

Market roadmaps describes key market component of specific innovation trends combining posts and tweets shared on WAI social networks.

As emergencies for change are pressing key market players to rethink collectively new ecosystems for growth, entrepreneurs and leaders develop new communication strategies to create communities around customers and skills to answer their needs. By reaching out to customers, such knowledge networks are able to transform organizations from the inside to emulate a commonly shared success story. Connecting experiences allows entrepreneurs and leaders to combine synergies in efficiently reaching commonly identified goals.

Shaping a collaborative story

The economic environment affecting entrepreneurs activities implies increasing needs to adapt to unstable conditions on the long term.

” Even though we are back to a semblance of stability, a range of unresolved issues – sky-high government debt, a still-fragile financial system, stagnant productivity, increasing levels of inequality, latent currency crises, slowing growth in emerging markets, high volatility in stock and commodity markets and geo-political instability and extremism – preclude any easy return to sustained economic growth.”

Read more: “The Promise of a truly entrepreneurial society”, Richard Straub, HBR

Analysts and experts highlight the roles of individuals in owning their own story to success.

“You want a story that inspires employees, excites partners, attracts customers, and engages influencers. A story that is concise but comprehensive. Specific but with room to grow. One that defines the company’s vision, communicates the strategy, and embodies the culture.”

Read more: “How to build a strategic narrative”, Mark Bonchek, HBR

To enable success stories to take place, entrepreneurs and leaders are encourage to share their experience, putting forward views and opinions based on their personal story.

“Communication isn’t as simple as saying what you mean. How you say what you mean is crucial, and differs from one person to the next, because using language is learned social behavior: How we talk and listen are deeply influenced by cultural experience.”

Read more: “The power of talk: Who gets heard and why”,  Deborah Tannen, HBR

Sharing experiences is a necessary requirement to fully exploit knowledges we are able to connect across expertises and sectors.

“The answer appears to be threefold: a narrow idea of what academics should or shouldn’t do; a lack of incentives from universities or governments; and a lack of training in the art of explaining complex concepts to a lay audience.”

Read more: “Academics can change the world – if they stop talking only to their peers”, Savo Heleta, Quartz

Communities reaching out to customers

Diversity is identified as a crucial lever to improve employee engagement and retention.

“She says that currently we focus too much on general characteristics, such as age and religion, when determining how to manage people, which is the wrong way to go about things if we want employee engagement and retention to improve.”

Read more: “Five ways to engage a diverse workforce by focusing on “Live Stages””, Hugh Tonks, People Development Magazine

Working in silos inhibits our connectedness to generate the appropriate business models and solutions that support breakthrough initiatives.

“Digital business environments offer opportunities to deliver customer solutions rather than distinct products and services. The problem is that if you try to bundle, stitch, customize, or link products and services to build end-to-end solutions within traditional hierarchical and siloed work environments, then you make working life very hard. While most companies acknowledge the need to revise the way they work, many are finding this very difficult to do.”

Read more: “Dare to be digital: Transforming your workplace”, Kristine Dery and Ina Sebastian, MIT Sloan Review

The amount of data shared in the virtual space should allow organizations to create new intelligence tools.

“By mastering data and embedding intelligence into its organization and innovation any firm can now aspire to become a high performer, no matter how modest its past or unfashionable its sector.”

Read more: “We need actionable intelligencer not artificial”, Stewart Pearson, Innovation Excellence

Not only do networks appear on the external side, they also create internal communities able to concentrate on specific issues across teams and business units.

” Calling out individual successes is one of the first steps, but sharing those successes across the organization takes it to the next level.”

Read more: “How to turbocharge a culture of success”, Cameron Morrisey

The most important communities organizations are now in a position to create are those that generate value by connecting with customers.

“Can we measure the ROI of Social Media? What is a good ROI to justify spending money and time on content? In the end, it is the ROI that counts, but some doubt that you can measure the ROI of storytelling, content marketing, and social media.”

Read more: “The ROI of Storytelling”, Susanna Gebauer, The Social MS

Optimizing connected synergies

One of the ways to connect communities and knowledge is to concentrate on essentials and keep messages simple. Experts argue it enables to generate the best ideas.

“Often, the biggest ideas — the ones that take off, the ones that have momentum, the ones that change the world — are the simple ones,” he says. “Stop over complicating your business. Make it easy for people to understand what you do.”

Read more: “The Simpler the Better for Big Ideas”, Entrepreneur

As a result, leaders are encouraged to act in alignment with their values to inspire authenticity.

““Authenticity is not a license to be excessively focused on the self,” says Brooke Vuckovic, an adjunct professor of leadership coaching at the Kellogg School. “It’s about being aligned with your character and values in order to lead effectively. That takes work.”

Read more: “Five tips for authentic leadership”, Brenda Ellignton Booth and Brooke Vockovic, Kellogg Insight

Information technologies now offer the possibility to closely listen to customer experiences as shared on social networks, the new public space.

McKinsey’s later 2015 research suggested that a few of the most competitive brands today can not only react to customers as they make their purchasing decisions, but can also actively shape those decision journeys using a sophisticated, multi-channel approach.

Read more: “Success is not a destination, it’s a (customer decision) journey”, Blake Cahill, E-Consultancy

Working across sectors to combine greater synergies, beyond cultural differences, is suggested as a critical global step to undertake.

“No single actor – be it a government, a university research laboratory, an NGO, an entrepreneur, or a group of investors – can solve today’s really big problems alone.

It is a gap seen in areas as diverse as health care, education, and the fight against climate change.”

Read more: “Can the philanthropy revolution succeed?”, Juerg Zeltner, World Economic Forum

Interconnecting experiences allows leaders and entrepreneurs to act as communities and networks towards commonly identified critical issues to optimize synergies in defining solutions.

“Most of us are aware that we live within an interconnected world, largely enabled by technology. Yet how many of us realize the deep implications and are enacting the possibilities and opportunities this connectedness allows us?”

Read more: “Leader as innovative connector”, Janet Sernack, Innovation Excellence

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