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Innovation at the Speed of Thought

Innovation at the Speed of Thought. Kelly Fox Dunn Lumber Co. In-nov-a-tion…. Taking something from good to great and filling the vacuum left by inferior products or ideas with a strong value proposition. Sounds easy enough, let’s get started! Super-sized and self checkout…. Science.

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Innovation at the Speed of Thought

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  1. Innovation at the Speed of Thought Kelly Fox Dunn Lumber Co.

  2. In-nov-a-tion… • Taking something from good to great and filling the vacuum left by inferior products or ideas with a strong value proposition. • Sounds easy enough, let’s get started! • Super-sized and self checkout…

  3. Science • “It’s not rocket scientry”, Senator Mike Gravel (D- Alaska 1968-1980) • It is “building scientry” you silly Senator • The evolution of building materials • Building materials then and now

  4. Then • Jobsite mills • Continuous framing • “Yes, I need all 16’ers” • Insulation • “President Sackmann Catches Delicious Bass” • Young Westerner’s News (February 6, 2010)

  5. Now • Mills and Lumber Dealers • Look around, we are these guys! • Engineered Products • “Can I span 48’ with that?” • Insulation • Fiberglass and Levi Strauss

  6. It happens all the time • From concept to reality • Product drivers • Market need • Use of byproducts • Add value

  7. In-nov-a-tion Again… • Taking something from good to great and filling the vacuum left by inferior/ superior products or ideas with a strong value proposition. • The life cycle • The LBM Industry

  8. The Whole Log • In the beginning… and on the twelfth day he created random lengths... • Cutting down the trees to fill up the land fill • Made sense for mills, not for retailers or consumers • And the box stores saved us all (those who wanted to be saved anyway) • And on the 197,897,146,378,634th day he created engineered lumber…

  9. Engineered Wood • Plywood • Used since the 1700’s for furniture • I Joist and beams • A miserable failure • Over priced and under delivered • I Joist and beams 2.0 • Competitively priced • Yes I can span 48’ with that…

  10. Designer’s Dream • Engineered wood allowed mills to use the waste and created and opportunity for designers to stretch the limits of size and shape in construction. • “Win/Win” • 1300 SF rectangle v. 4300 SF framing nightmare

  11. Wood Products • Decking • Nice looking • Maintenance heavy • Quality fiber became expensive • Looking for something easier…

  12. Composite Goods • Composite decking • Use of poly and wood fiber • Offered a better mouse trap • These were easier but people still want more…

  13. PVC • PVC decking delivers on the promise of what composite decking wanted to be • The deck of a lifetime with… • Minimal maintenance • What is the vacuum they leave in their wake for innovation? • Are you going to be ready to capitalize on the opportunity?

  14. Fire Retardant or Not?

  15. The Cycle of Life • A bright idea (read start up) • This little piggy went to market (read got venture capital) • Everybody wants one… (read IPO and $$$) • “Ooh, ooh… Pick me coach I got the good crap” (read COMMODITY/ Everybody has three)

  16. Up Market Higher volume Lower margin Growth mechanism Large Company Better customers Maybe… Commodity traders Down Market Lower volume Higher Margin Growth mechanism Small Company New customers Used to be your customers… Value adders Up v. Down

  17. Size Matters to the Market • In any market the size of the opportunity will match the size of the organization, up or down! • A small organization can not be a significant player in a large market segment • Typically will lack the infrastructure or the resources to compete • A large organization can’t fill the growth need with a small market opportunity • Typically need large markets to satisfy sales goals

  18. Filling the Void • As companies look for new business in the “Up-Markets” they leave a vacuum of opportunity in the “Down-Markets” • Up is opportunity in BIGGER MARKETS • small markets are downers…

  19. Steele’s Studs $300,000,000,000.00 in annual sales 10% annual growth = $30,000,000,000.00 Up markets and disappointed share holders (unless it is 2006)… Blake’s Boards $30,000,000.00 in annual sales 10% annual growth = $3,000,000.00 Down markets and happy share holders… Real World Example

  20. Acquisitions and Spin-offs • Big business gets bigger through acquisition • Increase market share • Increase stock holder anxiety to meet growth needs • Big business can’t meet the demands of the market and spin-off companies to regain focus • Ability to target markets • Growth demands from share holders are attainable • Proof in the pudding • Russell 2000 Index 10%, Parent’s after Spin-off 31%, Spin-off company 37% ROI after three years

  21. What’s Next • Everything we already talked about but… GREEN

  22. Innovative Values • Selling trust and add value • Trust the experts (hint; you have to be the experts) • Experts add value to the customer • Value is why the customer pays top $$$ • Or, do what you always do and get what you always got and eventually you will lose it all to the person/ company who… • Sells trust and adds value • Trust the experts (hint; you have to be the experts) • Experts add value to the…

  23. “Whatever made you successful in the past won’t in the future” Lew Platt, Chairman and CEO, Hewlett-Packard

  24. Value of Education • LEARN, LEARN, LEARN… • Your customers are, and because you are here I am hoping you are! • Share your knowledge, it really is a great service to your customers! • If for no other reason; • The “learners” out perform the “knowers” every time!

  25. Half Life of Education • Half of everything you know will be gone in 4 years • New products and applications make what you know obsolete very quickly • In 20 years just about everything will have changed • We cannot stop the loss; all we can do is refill the void with current knowledge…

  26. “If you have two people who think the same, fire one of them. What do you need duplication for?” Jerry Krause, General Manager, Chicago Bulls

  27. Product Tangible Consumable Bought and sold Take it or leave it Service Intangible Relationship driven Bought and sold Harder to leave behind Product or Service

  28. Product + Service = Offering • Tangible + intangible = Offering • Consumable + relationship = Offering • Bought and sold + bought and sold = Offering • Take it or leave it + harder to leave behind = Offering • If you don’t get it yet you should be combining your products and services to create an… • OFFER

  29. The More You Know • This is the life cycle of all businesses and the reason that good management will eventually run your business into the ground! • This does not have to be the case! Each of you sitting here today have the opportunity to buy my plan for three easy payments of $199.95 and if you act now I will give you my book of secrets for FREE! Do not delay as this will change the life of your business.

  30. Please send self addressed, stamped envelope containing cash payments to Dewey, Cheetham, and Howe Publicists LLC PO Box 111777 Felony Way WA 98003 206-465-8589 www.facebook.com/kellytfox Payment Options

  31. Were do you put your armor? The story of Abraham Ward

  32. “He came within 800’ of immortality…” Obituary of Raymond Lambert, 1914-1997

  33. “To be courageous… (and this) is an opportunity sooner or later to be presented to all of us” John F. Kennedy, Profiles in Courage

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