New Markets Advisors

Transform your tech value proposition using Jobs to be Done #innovation #jobstobedone #tech #strategy

Our Boston offices at New Markets Advisors are located on Franklin Street, named after the birthplace of innovative leader Ben Franklin. Coincidence? We don't think so. #Innovation #entrepreneurship #strategy #consultants #jobstobedone

In Stephen Wunker's latest article for Duke's Dialogue Review, he explores why being connected is crucial for innovation. #Leaders need to deeply understand the people they serve—whether customers or employees—to steer the company in the right direction. Take Microsoft’s CEO, Satya Nadella, for example: “The source of all innovation is empathy,” he said, highlighting the need for genuine connection. But it's not just about customer feedback—Kimberly Weiss from FNBO shared how they simplified customer surveys to focus on what truly matters. One simple question: Did we create an exceptional mortgage experience? opened up valuable insights. Joey Bergstein, former CEO of Sabra, took it a step further by working the night shift to understand why workers were leaving. Seeing things firsthand provided him with real, actionable insights. #InnovationLeadership #CREATEApproach #CustomerEmpathy #LeadershipDevelopment #ConnectedLeadership #InnovationStrategy #SatyaNadella

🚀 Lessons in Innovation from #JeffBezos and Amazon 🚀 When Amazon launched the #FirePhone, it was a colossal failure, selling only 35,000 units in the competitive cell phone market. Despite its innovative feature that allowed users to point the phone at an item to find it on Amazon, it didn't resonate with customers. Jeff Bezos himself admitted that the focus was more on benefiting Amazon than the customer. However, instead of letting this failure define them, Bezos reassigned the product team to develop their next big innovation: the Amazon Echo and Alexa. This pivot highlights two crucial lessons:  1. Customer Obsession: Always prioritize what’s best for the customer.  2. Embrace Failure: Failing for the right reasons is acceptable and can lead to greater success. As Bezos emphasized, culture is formed in the lunchroom, where the acceptance of failure and the pursuit of customer-centric solutions become integral to a company's ethos. #Leadership #CustomerObsession #EmbraceFailure #JeffBezos #Amazon #ProductDevelopment #CompanyCulture #SuccessThroughFailure #TechInnovation Stephen Wunker

Andreessen predicts AI will drastically reduce costs, making legal briefs, medical diagnoses, and management consulting cost PENNIES instead of thousands of dollars! 💡 Imagine the impact: by 2034, the traditional 9-5 job could be extinct, with everything becoming so affordable that working might no longer be necessary. The focus will shift from execution to the power of ideas, with wealth accruing to those who innovate rather than those who work the hardest. Is this a utopia or a dystopia? How do you see this transforming your industry and career? 🤔 Let's discuss! How can we prepare for this AI-driven future? What skills should we focus on to stay ahead of the curve? #AI #FutureOfWork #Innovation #ContinuousLearning #Automation #TechRevolution #CareerDevelopment #AIImpact #Andreessen #AlvinFoo

🌟 Embracing AI for Heart Failure Management: The Boston Scientific Cardiology Case 🌟 Heart failure is a leading cause of death among seniors, with many patients only seeing specialists every six months. Boston Scientific aimed to transform this scenario with AI. Their challenge: How can data ensure heart failure patients see the right doctors at the right time? The answer: HeartLogic. By integrating AI with implantable defibrillators, HeartLogic uses biometric data to predict patient risk, prompting timely doctor visits. Clinical results are astounding: - Detects 70% of heart failure events - Provides a median advance notice of 34 days - Generates less than 2 alerts per year, reducing false alarms AI is revolutionizing patient care and tackling heart failure like never before. Read the full working paper by clicking the following link: https://lnkd.in/eNgU_TvG #InnovationLeadership #AIinHealthcare #HeartFailureManagement #MedicalTechnology #BostonScientific #HealthcareInnovation #PatientCare

🎯 How Fidelity Became a Leader by Leveraging Start-Ups’ Jobs To Be Done 📈 In a recent Forbes article, Steve Wunker highlighted how Fidelity Investments, in partnership with Shoobx, leveraged the "Jobs to Be Done" framework to address start-ups' financial and administrative needs. This approach has positioned Fidelity as a trusted partner for emerging businesses, helping them streamline processes from incorporation to equity management. Jason Furtado, CEO of Shoobx and now Senior VP of Private Markets at Fidelity, emphasized the importance of understanding and addressing the specific challenges faced by start-ups, such as the need for efficient documentation and readiness for investor scrutiny. By focusing on these key jobs, Fidelity and Shoobx have created a comprehensive solution that reduces time and costs for startups, while also fostering long-term relationships. Sean Belka, Fidelity's Managing Director, Corporate Development, noted that integrating the Jobs to be Done framework with traditional business assessments has deepened their understanding of customer needs and market opportunities. This strategic alignment not only enhances product development but also ensures that the company stays relevant and competitive in a rapidly evolving market. This collaboration underscores the value of a customer-centric approach in driving innovation and growth. By anticipating the evolving needs of start-ups, Fidelity and Shoobx are not just providing services; they're building a foundation for future success in the fintech and financial services landscape. 🌐📊 https://lnkd.in/eqKE4dFf #InnovationLeadership #JobsToBeDone #CustomerCentric #StartUpSuccess #FintechInnovation #StrategicGrowth #BusinessTransformation

🔍 Exploring AI's Impact on ESG Initiatives 🌍💡 Thomas Bleach was on the hunt to find out how the fintech industry is doing ‘good’ for local communities and the world, revealing current and future plans to make change. Find out what six of the interviewees had to say for the Fintech Times. 📊 Chris Bourne, fintech expert at NorthRow, emphasizes the transformative role of AI in ESG, highlighting its ability to enhance data analysis, risk management, and compliance, thus driving sustainable growth. He points out that AI helps businesses better monitor and report ESG metrics, ensuring alignment with evolving regulations and societal expectations. 🔗Simon Axon, financial services industry director at Teradata, sees AI as pivotal in integrating and analyzing granular data, such as Energy Performance Certificates, to improve data quality and predict environmental impacts. He notes that AI is transforming the anomaly detection process, significantly reducing the time required for regulatory reporting. 💼 Majda Dabaghi, chief sustainability officer at ekko, discusses AI's potential as a force for good, particularly in mitigating climate risks and improving efficiency across various sectors. She stresses the need to balance AI's capabilities with the associated risks, ensuring it contributes positively to climate action and sustainability. 📈 Thomas Brock, expert contributor for Annuity.org, highlights AI's role in enhancing transparency and accountability in ESG, especially through better data analysis and decision-making. He suggests that AI could revolutionize ESG assessments, providing more objective and rigorous measures of effectiveness. 🛠️ Eric Croak, CFP®, CFP and president at Croak Capital, praises AI's ability to sift through vast amounts of ESG data, aiding investors and institutions in making informed decisions. He foresees AI-powered solutions significantly influencing finance, as they streamline ESG reporting and compliance processes. ⚖️ Nicolas Mottis, full professor at Ecole Polytechnique Paris, offers a cautious perspective, suggesting that AI's impact on ESG is still in an exploratory phase. He calls for a balanced approach that combines AI's analytical capabilities with human judgment to ensure nuanced and long-term strategic decision-making. https://lnkd.in/eWS2rx4n #AI #ESG #FintechForGood #Sustainability #Innovation #DataAnalytics #Regtech

🛠️Jobs 2.0: Troubleshooting the Adoption of Jobs to be Done💡 In the evolving landscape of innovation, the adoption of Jobs to be Done (#JTBD) methodology has become increasingly common. While more companies are familiar with JTBD today, many still struggle with effectively implementing it. Reflecting on David Farber’s experiences with clients, he identified five common challenges organizations face and how to overcome them: 1️⃣ Lip Service vs. Genuine Application Companies often adopt JTBD in theory but fail to apply it effectively. For instance, innovation initiatives sometimes focus on internal goals rather than real customer needs. To combat this, organizations should integrate JTBD into their strategic frameworks and ensure regular, practical exposure to the methodology. 2️⃣ Overwhelming Number of Jobs Some companies uncover too many jobs without clear prioritization. It’s crucial to use both qualitative and quantitative research to identify "North Star" jobs—key areas that align with customer priorities and business strengths. 3️⃣ Integration with Other Methodologies JTBD should complement existing tools like #DesignThinking, not replace them. It helps teams understand customer decision-making and should be integrated into real projects to ensure relevance and practical application. 4️⃣ Reverting to Traditional Thinking Despite understanding JTBD, teams often fall back on old habits under pressure. To maintain focus, tools like #JobAtlas and #StructuredIdeation sessions can ensure consistency in applying JTBD principles. 5️⃣ Translating Insights into Products Successful JTBD implementation requires aligning insights with product development. This includes assessing #MarketGaps, securing buy-in from commercialization teams early on, and using frameworks like the Jobs Atlas to cover all aspects of product strategy. For organizations embracing JTBD, these insights can help streamline the innovation process and ensure it is customer-centric and strategically sound. If you've faced other challenges in implementing JTBD, We'd love to hear about them! #JTBD #JobAtlas #CustomerCentric #MarketGaps #StructuredIdeation #DesignThinking