MoshPit Innovation – Reimagine Your Business Using New Combinations
Gregg Fraley, Founder, Gfi
The Covid-19 pandemic has many business leaders realizing the time is now to reinvent what they do. It might be small adjustments. OR, it might be an entirely new business model. MoshPit Innovation™ will help you find those adjustments and new models.
If your business is adjusting to the challenge of operating during the pandemic, or, has the need to innovate for other reasons, this is a program designed to help you find specific solutions – and fast. The NIIC is recruiting business leaders now for the program. Don’t wait, registration is limited. The good news is this is funded by the U.S. Small Business Administration. Register today on The NIIC’s events website page. https://theniic.org/our-events/
The NIIC is partnering with Gregg Fraley, Founder, GFI to conduct a MoshPit Workshop Series or cohort for Hoosier small business leaders.
Don’t let the unusual name throw you, it’s not a heavy metal concert. It’s a serious and proven approach to reinvention. The essence of MoshPit is finding creative, new combinations. Like a MoshPit, it’s intense and fun. Unlike a concert MoshPit, it creates enduring business value.
MoshPit Innovation Workshop Series
Business Builders will realize the following benefits through participating in this workshop series.
- Higher probability of finding truly different, breakthrough innovation ideas
- Near and long-term adjustments to the “new normal”
- Amplifies or establishes your organization’s innovation process
- Leverages existing intellectual property, products, insights, and other assets
- Ultimately creates innovation ideas and projects that lead to growth
- Work with business peers and benefit from their outsider perspectives
By the end of the MoshPit workshop you’ll have devised a plan to take you forward in these changing times. A bonus is you’ll learn a great deal about innovation in the process.
MoshPit is socially distanced and will be done using Zoom and an online idea management system, Stormz. You’ll be working with a small team of other business leaders. The NIIC is creating teams without same-industry competitors. The program begins in August and concludes October 2020.
Powerful Innovation Questions to Ponder
Consider these three powerful innovation questions that could make all the difference for your business.
- What could you combine with your existing business?
- What might you combine with your existing products and services?
- What can you borrow from domains not related to your business at all?
When you think about it, most business innovation is based on combining things that have never been combined before. New combinations are powerful value creators.
- The iPod succeeded (where the Sony device failed) because it combined a mobile device with a system for purchasing music (iTunes).
- Henry Reese created a business that eventually sold for $4 Billion by combining chocolate and peanut butter – the Reese Peanut Butter Cup.
- Cirque de Soleil combined concepts from the circus world with the art world and surrealism to create a new and exciting entertainment category.
- P&G combined a small motor from spinning candy with a toothbrush to create an affordable electronic toothbrush.
- BMW’s iDrive system was inspired by the video game industry. It combined easy to use gaming console concepts with their navigation system.
Every business can change and grow by combining existing assets with concepts they have previously not considered. MoshPit gets you out of the box by looking at concepts and inventions in other domains and thinking about how you can put them to work.
About Moshpit Innovation
MoshPit Innovation is an innovation method designed to uncover unlikely combinations of technologies, products, services, trends, insights, and other factors that lead to breakthrough innovation. The secret sauce in MoshPit is a series of carefully scaffolded steps to create new combinations.
MoshPit is an invention of Michiana-based innovation consultant Gregg Fraley, and he’ll be facilitation the workshop for The NIIC. MoshPit is inspired in part by Indiana businessman, and genius inventor, Philo Farnsworth, who was known as “the boy who invented television.” Farnsworth combined concepts from agriculture and electronics that formed the basis for the first electronic television.
MoshPit is also informed by Design Thinking, Agile, Osborn-Parnes Creative Problem Solving, Business Model Canvas, and Theory of Constraints. The secret sauce in MoshPit is a series of carefully scaffolded steps to create new combinations.
Gregg Fraley works with small businesses and large corporations to help them innovate. He’s on faculty at Notre Dame and his clients include: Bosch, Coca-Cola, Johnsonville Sausage, Hiler Industries, Allstate, Hershey, Sanofi, and W.R. Grace.