Does Your Budget Match Your Strategy?
One of my favorite expressions is: “Budget is the ultimate expression of strategy.” Think about your company’s strategy. You might say that your strategy is to invest in innovative new products to meet the needs of new buyers and markets, but look at where you’re actually spending your money. Are you investing in those areas, or are you instead spending most of your resources on enhancements to existing offerings to resolve complaints from current customers?
What happens when your budget doesn’t match your strategy? And how can you fix it? That’s the subject of my most recent blog post: Does Your Budget Match Your Strategy?
Webcast: Innovation Strategy: Choosing the Right Products and Opportunities to Drive Company Growth
One of the tools we’ve developed at SiriusDecisions to help companies align their budgets with their strategies is the Innovation Strategy Framework, which can help make sure you are choosing the right products and opportunities to drive company growth. I’ll be hosting a free webcast next Wednesday, August 14.Â This will provide an overview of the research findings from months of research into best-in-class organizations and show how the Innovation Strategy Framework can be implemented within an organization. Youâ€™ll learn:
- How to move from an internally focused process for innovation investment to a market-based, opportunity-driven approach
- How a standard innovation strategy framework can ensure the right level of investment in the right products
- Criteria and metrics to implement to increase the likelihood that innovation initiatives will succeed in the market
- Industry-standard approaches to investment in innovation and new product initiatives
- How to make sure that new product development efforts are in line with overall growth strategy
- What roles product management, marketing and sales play in supporting innovation strategy
On Saturday, August 17, I’ll be in beautiful Atlanta for ProductCamp Atlanta 2013. I’ve got two proposed sessions — one being a town hall session on Effectively Communicating Product Roadmaps, and the other a panel on Product Adoption â€“ Do you want it? How to get it.. If you’ll be at ProductCamp Atlanta, let me know so we can meet up. If not, I’ll be live-Tweeting from the event, so follow me at @jefflash and view everyone’s tweets with the hashtag #PCampATL.
Whatâ€™s Hot on Twitter
Here are a few of my tweets which have generated the most interest over the past few weeks; to get these in real-time, follow me at @jefflash:
- Which innovation mistake are you most guilty of? http://j.mp/14EuP1N #innovation #prodmgmt (#strategy (permalink)
- Should nice people be product managers? (JL: I think being “nice” actually makes you better at #prodmgmt) http://j.mp/13YXvka (permalink)
- We’re hiring at @SiriusDecisions, esp. for an analyst w/ #b2b solution/product marketing experience http://j.mp/13arMrJ #prodmktg (permalink)
- Are you Really Innovating? Five Signs You Might Be Faking It (some funny/sad but true…) http://j.mp/163nJCI #innovation (permalink)