How YOUR business could be our next Business Innovation of the Year Winner
Matthew Margetts, one of the judges of Business Innovation of the Year tells us what he’ll be looking for when he meets the ten finalists who will have made the short list for his category.
What Matthew says:
Hi. I’m speaking to you today from Leicester Square, home of the British film industry, an area that celebrates creativity. So, what a perfect place to start to talk to you about The Innovation Awards, a category that celebrates the smart, the clever, the bright, and the best in British industry
So what does it take to be a winner? Well, people talk about management teams, but let’s unpack that.
What are we looking for?
Well, if I look at last year’s entries, the finalists, each firm was characterized by a management team that had an ethical foundation. There were no shortcuts in the way they did business. There was a solid base of both intellect and process at work, and they, all of them, worked in a strict regulatory framework on environment. As a consequence of which, they were able to build services and skills that met the requirements of companies not just in the UK, but globally.
So first off, we see ethics, we see principles, we see product working in an environment that is complex. So we’ve got clever people. What do we look for beyond that? Well, clearly sales.
We look at growth. Now, each of these firms had, to a greater or lesser extent, secured a niche, a global niche in business, and they had been able to grow fulfilling that niche internationally, but they hadn’t rested on their laurels.
They’d acted to expand the product range, improve the offering, and constantly work with customers to make sure they were delivering the best. So there was no resting on their laurels. It was an attitude of go, and go for growth.
Finally, in terms of innovation, what do we look for and how do we see that? Again, it’s the idea of investing in R&D, looking at new talent, working out where the competition, the threats, could come and acting to mitigate them.
Now, why do I find it such a pleasure to judge? Well, my background is in sales and marketing internationally. I’ve worked for blue chip firms, I’ve worked for small firms.
What always gets me is the narrative, the story of the business. All of these firms had great stories to tell and share, and when you listened to their histories, you just felt a glowing sense of pride, because what they did, they did well, and it made you think that in an era when there’s so much bad news about recession, about cutbacks, that there are firms out there flying the flag, making things happen, and generally winning.
So what do we look for?
To recap, we look for strong foundations in the core product, it’s a capacity to meet international regs, a management team that is constantly improving and impressing, and innovation and stories that come through meeting and delighting customers. So if you want to win it, that’s what you’ve got to understand, and please, we look forward to seeing your entries and celebrating your successes.
If you think the above describes your business, then you could be our next Business Innovation of the Year winner. Read more about what we’re looking for, the entry FAQ, and then send in your application. This time next year, we could be featuring a video of YOU telling people how they could win.