If you were the CEO of a large company, who would you turn to for help to recapture your lost mojo? How would you create, test and build new products? Big companies have been steadily getting worse at innovation, whereas startups have begun to eat the world. Small companies can move fast, take risks and attract talent.
The brightest minds of the next generation are spending their weekends building software in hackathons, quitting their jobs to build interesting startups and being investing in by incubators and accelerators. It’s a brave new world, but large companies are still looking for ways to become more agile.
A new trend is emerging where hot studios (that combine design, business and technology skills) are building startups from scratch for large companies. This new approach is reviving the patronage model from Renaissance Florence.
Management consulting firms want to move into design, and creative agencies want to move into management consulting. It seems that everyone wants to swim upstream to the boardroom and consult on innovation, customer experience and design thinking. The widely held theory is that there are good margins in this type of work (and let’s be honest, it’s sexy as hell). But what no one talks about is that the high-end strategy work is actually important because it leads onto the multi-million dollar implementation projects that secretly feed the biggest global agencies
Over the years, I’ve worked in several of the grey areas between management consulting and design thinking so I’ve seen some of these macro industry changes first hand. The toughest part of my career has always been finding the chink in a client’s armour that lets us get close enough to the boardroom to ask the really tough questions. It almost doesn’t matter what the starting point is for a project if your goal is to get to the deeper issues inside a business. With all these shifting agency services, it’s hard for clients to know who to turn to these days for advice on big problems.