New business building
Working side-by-side with our clients to build new businesses ‒ whether starting from scratch or expanding into new areas.
Frontline capacity for new business building
Recent new business building work
Problem
A global industrial goods manufacturer was facing a declining market. Utilization of its manufacturing assets was low, and profitability poor. Finding new growth markets while leveraging existing skills and assets was imperative for survival. As part of strategy, the management decided to enter an adjacent emerging product segment.
Solution
To speed up market entry and develop required new offering, a "skunkworks" approach was chosen. Reddal senior staff with business building experience combined with younger members with strong analytical skills helped to set up the new unit, taking an active role in product design and market entry. Design-to-cost methodology was applied, benefiting also existing business.
Result
A novel cost-effective product design was developed and patents applied. The design used existing manufacturing facilities, introducing new approaches to increase automation. Pilot sales were successfully completed, and delivered on-time and on-budget. The effort provided new insights, improving collaboration between design and manufacturing overall.
Problem
A European B2B services company faced challenges in finding market traction with new solutions and services. The resources spent to build these services were high and it was evident that many product owners had developed bulky solutions without deep understanding of customer needs. Revenue growth was disappointing.
Solution
With the management, Reddal designed and kick-started an in-house accelerator program to help solution teams learn lean startup methodology and test customer demand during product development. The process took the development teams out of the office to actual customers, providing valuable validation of concepts early on.
Result
Customer needs and potential customer demand was validated early on, helping to focus new solution development. In many cases business models for new solutions required an early pivot after initial customer meetings. The accelerator helped teams to validate initial assumptions and steer solutions towards most pressing customer needs. The company is now broadening the scope of acceleration efforts.
Problem
A US-based mobile tech company decided to build its first overseas marketing and sales office in Korea to scale its Asian user base. The newly hired country manager had a strong local network but lacked experience in building a team as well as creating scalable business processes. Many of the early recruits left the company and the country manager needed a way to stabilize operations.
Solution
Working side-by-side with the country manager, Reddal helped to set up solid processes across key functions. In HR, key objective and results approach was used to align employee's objectives with strategic goals. In marketing, a digital marketing framework was used to define clear quantitative goals for the marketing funnel. In addition basic management routines were implemented and refined.
Result
The steps taken stabilized processes and improved employee retention. Marketing efforts became more focused and target oriented, and follow-up was transparent. The marketing and sales office was able to scale to twice the original size within two years. The headquarters liked the results, and decided to implement the same management frameworks in its next branch office in Japan.
Contact our new business building experts
Per Stenius
Client Director with over 20 years of experience in corporate strategy, PE, new business building and transformations. Currently focusing on private equity related projects in Europe and Asia.
Kun Cao Helsinki
Senior Manager with solid experience in corporate and business unit strategy, market entry, new business development, and digitization. Currently leading various strategy efforts in energy, telecom, and IT sectors.
Khashayar Ghadimzadeh Middle East
Business Developer with experience in process development and go-to-market strategy. Currently focusing on international market entry strategy and processes for Middle Eastern companies.
The untapped business opportunity in Southeast Asia – productivity improvement
30 March 2016
Samppa Sipilä
Low productivity is the main challenge facing Southeast Asian economies. There is a macroeconomic imperative to boost productivity but implementation is difficult. In this article, we address automation, efficiency and human capital development as key new business development areas in the region.
Read postTech startups can minimize their time in the trough of sorrow with a zoom-in pivot
16 September 2015
Per Stenius
We reflect on the experience of an early-stage mobile startup and its struggles in the “trough of sorrow”. During this phase, many teams make the classic mistake of adding the “next feature” in hopes to spark traction for the entire product. Instead, mobile startups should consider a “zoom-in” pivot, where a single feature becomes the whole product
Read postPushing innovation and cost effectiveness through Design-to-Cost
5 April 2012
Per Stenius
In industries such as automotive, IT and telecom the drive for continuous innovation while reducing costs have long been the norm. The same trend has spread to other areas as well, touching both products and services; customers want more, but they want it for less. There is an increased demand for simultaneous innovation and cost reduction
Read postContact us
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