Reflection and Learning Launch

Project Name : Winning New customers

Challenge:

I am a Team Lead in a Finance and Accounts department and our department got a request from the  business head to streamline the process of sales of By product/ Scrap materials as they are getting  several calls from new small /medium level customers for an opportunity to buy our by-products  /scrap materials in place of existing customers and also they are ready to take at competitive rates.  Since there is a practice of selling scrap materials to existing customers in our company, the chances  of getting opportunity for new customers are very less. On the other hand, since the existing  customers are very old and continuing to buy our materials from a long period, management does  not interested to lose the relationship with existing customers.

As a Finance team, we took it as an opportunity and we started to think as an entrepreneur to  maximize the profits and also to free up the storage facility in order to avoid storage handling  charges, interacted with other departments and understand the issues and customer sentiments.  After having couple of workshops with cross functional teams and after brainstorming sessions, we  decided to change the scrape sales process from traditional method to auction method where each  customer needs to participate in auction and submit their biddings. The higher bidder wins the  auction and get the chance to buy the material at agreed rate. Once we finalise the idea, now the  turn is for implementation.

Selection :

Our team has gone thru various design thinking tools i.e., Visualization, Storytelling, Mind Mapping  and Learning Launch etc., and at final  had selected the Learning Launch tool.

Reason to select : The Idea behind to select Learning Launch tool for the current challenge is that this  tool can apply  quickly and inexpensively to test an idea and prototype. Since we need to add new  customers without losing existing customers in a given point of time, the need of execution forced us  to find better tool which gives the results quickly.

Application :

For our first learning launch, we focused on existing customers and conducted awareness workshops  on introduction of new process for scrap material sales on auction and asked them to provide bids by  issuing competitive price list and the winner would be one who bids for higher rate for that auction.  We have closely interacted with business teams asked them to inform the customers about the  market conditions and management expectations to gain their trust.

Once the existing customers familiar with the process of auction at regular intervals by applying  couple of learning launches, we have started to add new customers by one by one who are requested  the management for an opportunity.

After a couple of learning launches, the both, existing and new customers got familiar with the  existing process of auction and highest bidder used to win the auction to buy the materials at quoted  prices.

Insight :

From the design thinking tool of learning launch, we have learned that the key to success is an  entrepreneurial mind-set of action and not analysis; speed and not long study times; engaging  potential customers in the creation, design and testing of new ideas as soon as possible; and learning  as you go, iterating constantly for improvement.

The quickness in the nature of this tool enable us to implement the idea in less time and helps us to  gain the trust from existing customers and given hope to new customers. Also the team got familiar  with the process in launching time before execution of full roll out as per timelines. The management  felt very happy and appreciated for the change as it leads to adding new customers in account  without losing existing customers and it helps to maximising other sales as well as profits.

Approach :

As the learning launch is a business-world application of the scientific method and the team already  gone through several design thinking tools, learning launch tool is more appropriate for this  challenge because of its nature. The team needs to review the insights gained from our couple of  launches and to be applied for future launch designs. I strongly believed and apply this tool for the  challenges where engaging potential customers in the creation, design and testing of new ideas as  soon as possible; and learning as go, iterating constantly for improvement.


Reflection and Learning Launch Project Name : Winning New customers Challenge : I am a Team Lead in a Finance and Accounts department and our department got a request from the business head to streamline the process of sales of By product/ Scrap materials as they are getting several calls from new small /medium level customers for an opportunity to buy our by - products /scrap materials in place of existing customers and also they are ready to take at competitive rates . Since there is a practice of selling scrap materials to existing customers in our company , the chances of getting opportunity for new customers are very less . On the other hand , since the existing customers are very old and continuing to buy our materials from a long period , management does not interested to lose the relationship with existing customers . As a Finance team , we took it as an opportunity and we started to think as an entrepreneur to maximize the profits and also to free up the storage facility in order to avoid storage handling charges , interacted with other departments and understand the issues and customer sentiments . After having couple of workshops with cross functional teams and after brainstorming sessions , we decided to change the scrape sales process from traditional method to auction method where each customer needs to participate in auction and submit their biddings . The higher bidder wins the auction and get the chance to buy the material at agreed rate . Once we finalise the idea , now the turn is for implementation . Selection : Our team has gone thru various design thinking tools i.e. , Visualization , Storytelling , Mind Mapping and Learning Launch etc . , and at final had selected the Learning Launch tool . Reason to select : The Idea behind to select Learning Launch tool for the current challenge is that this tool can apply quickly and inexpensively to test an idea and prototype . Since we need to add new customers without losing existing customers in a given point of time , the need of execution forced us to find better tool which gives the results quickly . Application : For our first learning launch , we focused on existing customers and conducted awareness workshops on introduction of new process for scrap material sales on auction and asked them to provide bids by issuing competitive price list and the winner would be one who bids for higher rate for that auction . We have closely interacted with business teams asked them to inform the customers about the market conditions and management expectations to gain their trust . Once the existing customers familiar with the process of auction at regular intervals by applying couple of learning launches , we have started to add new customers by one by one who are requested the management for an opportunity . After a couple of learning launches , the both , existing and new customers got familiar with the existing process of auction and highest bidder used to win the auction to buy the materials at quoted prices . Insight : From the design thinking tool of learning launch , we have learned that the key to success is an entrepreneurial mind - set of action and not analysis ; speed and not long study times ; engaging potential customers in the creation , design and testing of new ideas as soon as possible ; and learning as you go , iterating constantly for improvement . The quickness in the nature of this tool enable us to implement the idea in less time and helps us to gain the trust from existing customers and given hope to new customers . Also the team got familiar with the process in launching time before execution of full roll out as per timelines . The management felt very happy and appreciated for the change as it leads to adding new customers in account without losing existing customers and it helps to maximising other sales as well as profits . Approach : As the learning launch is a business - world application of the scientific method and the team already gone through several design thinking tools , learning launch tool is more appropriate for this challenge because of its nature . The team needs to review the insights gained from our couple of launches and to be applied for future launch designs . I strongly believed and apply this tool for the challenges where engaging potential customers in the creation , design and testing of new ideas as soon as possible ; and learning as go , iterating constantly for improvement .