Mark Penningtons presentation on Design Led Business to Export NZ companies in the Bay of Plenty. Mark visited the Bay as the special guest for the 2012 Young Innovator Awards.
45. Business Model
•Long term investment (can’t be hand to mouth)
•2-3 years per project (1 year to find partner)
•IP equals up to ¼ of cost of development
•Development cost covered by licence fee
•Break even after one year
•Profit and reinvestment created through royalty stream
Formway Design uses many processes to uncover the need – Market, White paper, Expert consultation, Voice of the market, but in the tool that initially identified the need for BE was ‘voice of the customer’ interviewing. The result questioned how users really sitting throughout there day? What are they doing and what seated support is required? It was clear that many of the users we interviewed took postures other that the correct task seating postures…. But why and for how long?
RW
What we discovered is that there are some areas that we excel in. We need to celebrate these areas of excellence and ensure that we continue to delight our customers in these areas.
What we discovered is that there are some areas that we excel in. We need to celebrate these areas of excellence and ensure that we continue to delight our customers in these areas.
What we discovered is that there are some areas that we excel in. We need to celebrate these areas of excellence and ensure that we continue to delight our customers in these areas.
Teamwork – unleashing the creative power of a team in flow. Big audacious goals – anything’s possible challenging ourselves Being fanatical about what we do Self belief – Backing ourselves Making it fun
Neocon gold last year against the likes of HM Embody Fastest ramp up in production for a seating product in Knolls long history Knoll have sold in excess of 25 000 chairs since delivery began in September
Here is just one example of the output of this process We sold this to Knoll for 6m USD
This is the suite of product currently in the market and producing ese products are still in the market producing revenue
Knoll is one of the 2 top design lead players in the global furniture industry 1 or 2 in terms of design credibility One of the leading players in global furniture industry Formway design has transformed to the pinnacle of seating design Strategically enduring relationship, •Formway design continues to advise and support
Despite the difficult economic environment, in 2009 we had one of the most successful product launches in our company's history as we introduced the Generation by Knoll� chair. This chair has received many accolades including winning the Best of NeoCon� 2009 Gold Award for Office Seating. It has had one of the fastest ramp ups in terms of market acceptance
This family of product has transformed Knoll to one of the top three seating companies globally and the relationship is ongoing
Formway is an environmental leader in office furniture and have the knowledge to passion to become a leader in the recliner market