Marc Sniukas, author of the book “The art of opportunity”, presented his findings which are based not only on research but also on actual business transformations. He suggested new avenues to achieve innovation.

The fact that in 1955 the life expectancy of a Fortune 500 company was 75 years, and by 2015 this had dropped to 15 years, is alarming. With that in mind, what can companies do to attract new customers?

A new business strategy may help, which should first center on why customers do not currently buy the products. A good way of attracting new customers is to think from a customer’s perspective before innovating and changing products. It is about the needs of the consumer and barriers to consumption. Once you know that, you can innovate and profoundly reinvent yourself and the product or service that you offer.

Sniukas talked about designing a new growth business. Finding new strategies for growth needs an agile and multi-faceted approach which takes time, and trial and error is part of the process. A business may equally need to remodel its values, centred around the customer, the product and the ecosystem of the company.

Referring back to his book, Sniukas has identified five principles which help structure the new business model: it should be human centred, guided by visual thinking and active iteration, developed in cooperation and collaboration, and finally by taking a holistic perspective.

Sniukas finished his presentation with a controversial look into the crystal ball: that, providing established companies find new ways to innovate and evolve, they will be the success stories of the future--not startups. Established companies still have some significant advantages--like know-how, experience, access to capital--that startups are lacking.

Almost 300 people were registered to attend the event at the Kinnéksbond in Mamer on 15 February. The Paperjam Club is part of the same company as Delano.