In last newsletter (May 2018) two articles where published, both about car sharing. This could come across as two initiatives living on their own. Actually, to provide some clarity; this is not the case. Both concepts (one from the Business Lease Innovation Lab and the other one from Business Lease Czech Republic) were initiated with the same purpose in mind: Offering one scalable car sharing proposition to our customers in all Business Lease countries. To speed things up we started these two initiatives: each with a different technology and approach. On June 25th both products were compared on technology as well as proposition. Due to the different approach on both aspects and the fact that we want to learn more about the viability of both products we have decided to keep them both running for now. On a monthly basis we will check-in on both products and once they are more mature we will discuss further alignment of the car sharing portfolio.
To give you a better understanding of how the Innovation Lab of Business Lease works, this article will give you a step by step guide through our innovation process. Important note: The image shows a linear process for ease of reading, but in reality it is a circular process with high speed iteration loops in and between each phase.
In the idea generation phase of the process, ideas are generated on all three horizons of innovation by different sources, both internal (e.g. colleagues from sales) and external (e.g. suppliers). This results in a list of ideas that are invalidated, uncategorized and unprioritized.
In this next phase, ideas will be brought to a comparable level in order to prioritize them. Each idea will be assessed based upon business value, time criticality, risks reduction, opportunity enablement and job size. After prioritizing the ideas, a proposal which ideas to pick up and which not, will be discussed and presented at the Innovation Review Board (IRB).
The selected ideas contain a lot of assumptions. Therefore experiments will be conducted to check the key assumptions or parts of the proposition made with minimum amount of effort in time, energy, resources and money spent. Based on the learnings, the next step will either be to persevere (continue with same scope), pivot (change scope) or kill the idea.
Minimal Viable Product (MVP)
The goal of the MVP phase is to test the full proposition with customers. Real customer journey steps will be mapped in order to determine and test the operational impact of the full proposition. After the MVP duration the decision to persevere, pivot or kill the idea will again be made.
When MVP phase is successful the idea will be persevered into a complete product and prepared for full launch, thereby the core organization will be fully involved for full launch of the idea in case it will be embedded into the core organisation. The other option is to spin-out the product as a separate company
This is the phase where the product really starts to breathe and age, therefore an owner needs to be appointed inside the core organisation who takes care of the evolution of the product and its context.
If you are interested in more details of our innovation process or if you have any questions or comments please get in touch!
Innovation Lab Team
Do you ever wonder if there is any sense in keeping in contact with a prospect, who constantly states that Full Operational Lease is not for his company? We can provide you with the answer; – YES.
Kruk S.A. – our long-time prospect, finally, after series of meetings, negotiations, consultancy – decided to sign a Master Hire Agreement and ordered 54 cars with us. The client’s total fleet is about 500, so we’re also counting on big orders next year. It wasn’t easy, because companies with such a big fleet potential have their own fleet department, pending agreements with repair shops and insurers. It was also Kruk’s first contact with Full Operational Lease, so the amount of questions and doubts were significant. Nevertheless, our team in cooperation with other Business Lease Poland departments managed to answer all questions, eliminate most doubts, and provide them with every expertise they needed.
We’ve started the process in 2016 with a series of meetings, calculations and getting to know each other. We knew that we should prepare for the long-run, therefore an important part was to manage our mutual expectations. We did our best to convince Kruk S.A. that standard the Full Operational Lease product is the best mobility solution for them. Firstly, we received an inquiry with a Service Level Agreement, which would cover all risks in every contract, and our role was to explain to the prospect, why it’s not optimal to include all possibilities, if history shows us, that some of listed risks happen only once in a year or even less. Kruk S.A. representatives appreciated our consulting approach, in which we showed that we care about their costs and their predictability in budget planning. To understand each other better, we used paraphrases or going through specific cases. We were also focused on gathering knowledge about true motives behind their questions, doubts and why Kruk experiences challenges in mobility management.
Some may say that winning a tender and servicing a client afterwards are two different things. Not for us. We kept our level of commitment, accessibility and communication channel open. That approach led us to a possible partnering cooperation with Kruk S.A., and helped us with dealing with the challenges and keeping good relations.
Kruk S.A. is an international debt collection company, which is also present in Business Lease countries, such as Czech Republic, Slovakia and Romania. We already asked our partners from Kruk S.A. to provide us with contacts of decision makers, to help our colleagues from the listed countries with tightening relationships, and hopefully signing a Master Hire Agreement as well.
We can now proudly state that patience, keeping your heads up, and doing what you are best in, pays off.
Well done to the Business Lease Poland – the Wrocław Team !