I recently came across two amazing TED talks about the opportunities and dangers of artificial intelligence. Kasparov explains how it is to get beaten in your own game by a machine. UC Berkeley’s computer science professor Stuart Russell, explains what it takes to stay on top of artificial intelligence.
Lawyers, clinicians, engineers and other professionals have a few things in common. They are all smart, busy, and have super specialized jobs. What they also have in common is that their services need modernizing. That is, they need to incorporate new technologies and service models that clients have come to expect in the 21-st century. […]
In the professional services, it takes an innovation champion to successfully develop and implement new services. Because new service and new business development do not revolve around the development of things only. To be of value, they must become part of a valuable service offering. The professionals who are going to develop and apply the new […]
Lawyers, clinicians, engineers and other professionals have a few things in common. They are all smart, busy, and have super specialized jobs. Due to technologies like big data, block chain, artificial intelligence, etc, there are many opportunities for new service concepts and new business models in the professional services. However, developing such innovative new service concepts is challenging […]
New service development is a team sport. How do you convene a winning team of professionals, when everyone is busy with their own work and lives? How to create a new service team that has the ability to develop the service and create a new revenue stream?
Since very few people and teams have extensive experience with new service development, hiring a coach to help you through the process is invaluable. Coaches add value in many ways: by challenging the team’s assumptions, by pointing out the most important tasks at hand, and by encouraging the teams to keep going when the going gets […]
Not all innovation efforts pay off equally. Which type of development projects to pursue? Which offer most value to your clients and the highest return on investment for the organization?
Why should you bother about new business development? Are new business development, generating new revenue streams, innovation, new service development not just commonly used buzz words? What does this all mean in the context of professional services anyway?
I have yet to run into a company that doesn’t have plenty of ideas. However, translating these ideas into valuable revenue generating business opportunities is quite a different story.
Portfolio management is challenging. Just a couple of examples I recently ran into, of well-intended innovation activities that stand no chance of success. Unfortunately, overcrowded pipelines are roads to nowhere, because too many projects make that none can thrive.
What is the difference between innovation, new service development, and research? Does it matter? There are differences between new service development, research and innovation in the professional services. And yes, these differences matter. As I found out the hard way, mixing up these terms can be utterly confusing.
Do you still have unspent education and training budget left over for the year? Ensure it delivers value and spent it on new business development education.