Delivered by a network of Incubation Directors, our strategies are based on building connections and transferring skills: we use innovative coaching tools to work with the senior management team to help structure, monitor, drive and deliver on business goals. We can show that by delivering business support to the companies in our centres, they grow faster and ultimately contribute more to the wider economy.
The individual projects delivered vary depending on the requirements of individual companies and their aspirations, but below is an example from a company in Newark Beacon Innovation Centre.
Case Study: Primary Site
PrimarySite creates websites for primary schools and was founded in 2002 by husband and wife team, Geoff and Rose Millington. Four distinct business support projects have been completed with PrimarySite since September 2011.
Prior to Oxford Innovation’s involvement the company had grown organically, achieving turnover of just under £0.5M in 2009/10 but recent increases in staff and organisational complexity had impacted overall profitability.
The two Directors were keen to continually drive the business and its financial performance forward, whilst also delivering on personal aims and the vision they had for the business which centred on early education improvement goals and making a difference in schools.
Oxford Innovation’s business support to date has focussed on two key areas of strategic support; the business model and the strategic plan for growth.
The business model: strategic aims and maximising net profits
During this project work, completed over a 2 year period, support was provided to Rose and Geoff to redefine their vision & purpose for the business and refocus the part the company plays in inspiring primary schools and children in using web technology to fulfil their potential.
As a result, product development shifted to include additional web applications that enrich the learning experience for children and a set of core values were then established that aimed to set the context for greater staff empowerment and innovation. This was followed by the development of a new strategy and set of goals for the team based on clarified accountabilities, customer growth and delivery KPIs for profit maximisation.
Strategic marketing and scaling
During early summer of 2013 a further business review helped to highlight a new set of development objectives associated with upgrading the management structure and processes as a further foundation for future business growth and the need for a detailed strategic plan to act as a steer and route map for the management team. A thorough market audit was then completed by the PrimarySite team to determine the current market position relative to the competition and better define the opportunity.
Further support sessions focused on mapping these strategic aims into a 3 year vision with a thorough set of goals and targets for all the key performance drivers within the business and an indication of management priorities. Additionally, an internal review of the senior management team was completed to check fit of knowledge, skills and capabilities for the requirements of executing upon this strategic plan.
Business support projects since September 2011
- Project 1 & 2: Business Model: Vision & Value Proposition, People & Accountabilities, Deliver KPIs for Profit
- Project 3: Scaling: Define top level strategic aims, the management team structure & process. Oxford Innovation coach now acting as Non-Executive Director
- Project 4: Strategic Marketing: 3 year Strategic Plan, Customer Segmentation/Targeting, Sales & Marketing Plan