Don’t let your technology breakthrough fall into the "too hard pile." These are our best tips for convincing leaders to take calculated risks that pay off big.
Embracing technology innovation is inherently risky for company leaders. Does it work as advertised? Does it solve a meaningful problem? Are there adequate resources to support deployment? Is it scalable? These are the objections and questions that challenge innovators when they bring new solutions to market.
We advise many companies with disruptive technology solutions-both young and mature-on the best ways to introduce their products to potential customers. Before you start, it is helpful to identify the companies in your target verticals that embrace technology and have a reputation for championing innovation that gives them a first-mover competitive advantage. At the start, it will be a more productive use of time working with those who have been rewarded for taking calculated risks, who believe innovation is in their DNA, and who want to be at the forefront of what’s next. They often will also help you refine and enhance your value proposition and go-to-market strategy.
Once you have your prospect, here are some tips for moving your innovation through the consideration funnel.
Clearly outline the business problem that your technology uniquely solves.
Technology entrepreneurs fall in love with all of the features, speeds, and feeds. It’s like saying here is a new truck with 400 HP and 500-foot pounds of torque – but the customer just wants to know if it can safely tow an 8,000-pound boat.
To get adoption of a new technology, a business decision maker needs to understand what problem it addresses. Get specific! For example, does it enable a business to collect all the data generated by sensors/cameras/OT to more quickly action preventative maintenance that reduces downtime? Determine:
The use case. What is the problem we are solving? What is the current process and its pain points?
The value proposition. Define the ways that the new technology is significantly better than the current process and superior to competitive alternatives.
The process. Define how your new solution gets delivered or deployed.
Find the right entry point
Within any company, there are many people who can say no – and one or two who can say yes to new, disruptive technology. Finding out who is at the forefront of evaluating and recommending new technology within the organization is key, as they will be influential when evaluating product performance and ease of deployment as well as supporting the use case application. These roles are often software engineers and/or technology buyers who scope out the software/hardware specifications for solutions. These gatekeepers can say “no,” but they usually cannot say yes without the additional support of the business leader and user.
The business/project manager is a key decision-maker who needs to understand why your breakthrough innovation is the best alternative for solving the business problem – not just today, but for the next three to five years. These roles usually have P&L responsibility and can be either general managers or operations leaders. They are key to getting to “yes,” and they can often provide coaching on how to best work with others in the organization including procurement and other strategic business units. They can also be instrumental in getting introductions to the C-suite.
Be patient and persistent. You may not find the right entry point on the first try. Keep working with the relationships you have to help you gain access to others within the organization who may have a need for your innovation.
Get senior leadership support
Once you have a technology and business champion for your innovation, it is time to engage SVP’s, C-suite executives, and Managing Directors. It is important to educate these thought leaders on how your innovation will help grow their business for multiple years. This is a perfect audience for sharing your strategic roadmap, as they often have a broader view across the entire organization, can provide valuable input, and may even direct you to other opportunities.
Get one small win
Success breeds success. Do whatever it takes to make the first application of your breakthrough technology deliver on the desired outcomes. This might be a free proof-of-concept, concierge-level support and troubleshooting, or product customization. The investment will not only lead to future deployment, but provide you with critical learning that can be applied to other customers.
Take a personal interest in your champion
It is important to understand what is important to your customers professionally and personally. What are their metrics for success? How are they evaluated and rewarded? What is important to them? How can your technology help them advance their career? These conversations require building trust.
Get to know your champion outside of the office environment. Share a meal. Learn about their family and key milestones in their lives. Find out what excites and frustrates them about their work. Being thoughtful and demonstrating your interest in them personally will enable you to have more open and honest dialogue. Show appreciation to them for taking a chance on your technology. They can become a terrific sounding board for your next breakthrough.
It is challenging to introduce new disruptive technology into any organization – even the most forward-thinking. The team at One+One have deep personal experience being on both sides – working at technology start-ups and as business decision-makers buying breakthrough technology. One+One painstakingly vets the technology we represent because it can take time – sometimes years – to land a big opportunity for an emerging technology. But getting that first win leads to more.
Contact us if you’re looking for help driving adoption for your disruptive technology or other business challenges.
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