icu2 News

Unlocking AI’s Potential: Navigating Challenges and Creating Value in Architecture and Property Marketing

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 31 Oct 2024 03:43:20 GMT

An exploration of generative AI as a transformative design tool—revealing the complexities, pitfalls, and opportunities for those daring enough to push beyond automation and bring true value to commercial applications.

Background:

I have been working on some crazy interesting (and sometimes challenging) projects over the last few months. Even as I write this post I have a bunch of generations queued up and crunching in the background. It's gonna be a long night! So this is one of many AI use-cases i have been exploring in recent months: AI as a design tool in architecture, real estate and property marketing services.

What i have been doing across pretty much all my projects, is to explore how AI can be used to create better outcomes, to understand where the limitations are, where the challenges are, and ultimately where the opportunities are in a commercial setting. I've broken pretty much every AI tool i've touched in recent months, and i can see where they topple over. To be honest it has been painful (hence why i am still up at midnight)... but the learnings have been invaluable!

In this specific example, using a hand drawn 2 point perspective illustration, I created a number of design options and a final design based on a composite of seven generations and an animated visualisation. Even this could go through one more iteration of refinement in post production editing!

The challenge:

How to have full control over AI outputs (this has been a consistent problem across the generative AI spectrum). In this specific case, how to have full control over lighting, materials, movement etc, and how to create a process that can be replicated consistently (absolutely essential for a commercial application).

In other words, can you reliably estimate the time that it takes to produce a commercial quality AI output?

Well the answer is yes and no. If you are sticking to the bare minimum (ie. any old output is good enough), then sure, you can whip something up fairly quickly. But that has little value and limited commercial application that it just a matter of time before people do it themselves.

In a commercial setting, where the output is directed by a strategy, technical limitations (eg. engineering), client demands, compliance and regulatory requirements, trends, styles, financial considerations, market forces etc etc. thats the point at which you actually need some serious control over the technical execution. Without a repeatable process, any concept of efficiency essentially goes out the window.

The solution:

What is required is a combination of new and traditional techniques, a systemic and strategic approach beyond just a focus on the execution (be it development of images, videos, visualisations, content, strategy, research, data processing, analysis etc etc) and a layer of human oversite to ensure that what you are producing actually creates value.

Also, innovative new ways of using AI to leverage the human capital and creative potential within organisations to create an unfair advantage in the market. The technology should make us more agile in our decisions; more aggressive in our investments (in this case specifically relating to investment into marketing, but it applies equally to other investments) and simply better at what we do.

The moment the AI story is predominantly about efficiency and automation (ie technical execution) we have lost "the juice" that creates actual value for an organisation. That same focus on efficiency (ie. how do i get more by doing less) is the point at which people lose jobs, companies fail and power shifts from old world business models to new ones.

Things always balance out. There's no such thing as a free lunch.

The risk:

As easy as AI can make your job, the easier it is, the easier it will be to replace us, as there will always be someone willing to work that little bit harder to find an edge. And guess what, sooner or later that person will take the jobs of 5 people who didn't bother building new capabilities in AI, not just as users, but as innovators.

Interestingly, when it comes to concern about AI taking jobs, it's not a problem with AI... it’s a human condition that naturally seeks the path of least resistance... it is very alluring. Unfortunately, in a period with so much technological change, more so than ever, the path of least resistance inevitably leads to failure. The same applies to organisations.

The gravy train will inevitably pull up to a station, and if you're on it, you will have to get off.

The question:

For me the question I am trying to answer is one that is close to my heart, and forms the value statement that guides virtually every business decision i make. The questions is:

How does generative AI "Inspire the Human Spirit in a Digital World".

Anything less than an answer to that question, from my perspective, is too small a problem to solve. If AI is purely a time saving tool, then the next question should be "how can i make better use of that extra time" (training, R&D, sales, innovation etc). At this stage AI is not saving me any time at all! If anything it is taking time to test, poke and prod. Time to develop new processes that will create value once we lay down some code. It's an investment of time to future-proof my own business and define my own competitive advantage in the new "generative economy" and create value for my clients along the way.

And sometimes it’s not simply about productivity, quality or cost at all. Sometimes it’s simply about honesty and authenticity, qualities that AI has unfortunately not really mastered. Hence why in this brain dump, i have not used any AI at all. It will likely have errors, unsubstantiated claims, opinionated views (not to mention it having take far too long to write!) But with all its quirks, grammatical errors and excruciatingly long sentences, it is honest, something I feel is missing more than ever these days.

Maybe a topic for a separate article.

Conclusion:

We are entering an exciting new era that will be full of opportunity, risk and uncertainty. We can focus on automation, efficiency, cost reduction etc. All those "bean counter" topics that address short term needs will only provide short term gains as the capabilities of AI improve. However, as business leaders if we really want to make an impact on the world around us, i believe the narrative should be a human-centric one, how does AI improve lives?

The efficiency? The cost savings? The quality? That will all improve as the technology develops.

Developing AI to make a positive change in the lives of people? That my friends, is where the real opportunity is.

A Carousel of Concepts: The Power of AI as a Concept Development Tool and the Role of Human Interpretation.

ddedic@icu2.com.au (Domagoj Dedic) — Tue, 28 Nov 2023 02:43:14 GMT

Reimagining AI Narratives: Beyond Tech Jargon to Human-Centric Stories

This article explores the role of AI as a creative tool and highlights the significance of human interpretation in the creative process. It delves into the synergy between humans and machines in content creation, ethical considerations, brand issues and the potential for AI to enhance experiences and improve lives.

Author: Dom Dedić | Director icu2 Pty Ltd

Watching the scene in Mad Men where Don Draper pitches the Carousel to Kodak executives, I pondered... why is this same approach not being used to communicate about AI. I mean this is what we do... we create stories that resonate with people's emotions. Yet somehow when it comes to AI, we have been so bedazzled by the tech, that we have forgotten what is truly important. How does it make us feel? Just as Don redirected the brand narrative away from the technological features of a slide-wheel to a human-centric story about a "Carousel of memories", the conversation surrounding AI needs to shift from its technical workings and purely economic benefits, to communicating its importance on a human level.

What does it help me accomplish?
How does that make me feel?
Why is that important to me?
Why should I care?
What do i have to lose by not embracing this new technology?

As long as the primary narrative around AI revolves around cost reduction, efficiency and automation, the greatest benefit of AI is unfortunately being lost in the noise of a new technology. How can AI help elevate what we do and improve our lives? Or is it a tool that enables us to find a sense of certainty and clarity in a noisy and uncertain world? Let's move the conversation away from the what and how, to the why. Maybe then we can demystify AI's role in the modern workflow, and hopefully provide some clarity and context around why AI is so important in elevating our own capabilities, learning and human potential. At the end of the day, AI will be whatever you decide it to be, so the decision is ultimately yours as to how you use it.

In my quest to understand the workings of this new technology, its capabilities and limitations, I've extensively tested it across various aspects of my business (mainly in content production, process design and graphic design). While its power is undeniable, its effectiveness depends on the process of driving it and the underlying motivation behind its usage. The Time-Cost-Quality trade-off still applies. Pick two. A truly meaningful communication takes time, effort, and dare I say... vulnerability (a concept that AI is not able to comprehend)

For instance, I find AI most valuable when used as a concept development tool rather than solely for new content production. Through AI, I can iterate ideas, seek feedback, critique my own work, challenge recommendations, and ultimately draw my own conclusions. This process allows me to generate novel ideas that AI wouldn't have been able to generate or identify on its own from a single prompt. Conversely, it allows me to make connections I may not have seen before. It's like having an AI think-tank, a virtual sounding board. However, it's ultimately up to us to interpret the output in order to communicate a powerful message.

Even this very article has undergone a similar process. AI didn't write it for me, but it challenged me to think about how I could improve it and structure my thoughts to better convey my ideas. So, for writers and creatives concerned about AI replacing their jobs, using it intelligently will not render you obsolete. In fact, it may create more opportunities, on the proviso that your intention is to produce quality content rather than simply relying on the prompt "Write me an article about...”

In a recent conversation with Jesse Papak (SAS) who works in AI, machine learning, big data and natural language processing, I asked him why AI lies and hallucinates. His simple yet profound explanation was, "AI only wants to make you happy." With that in mind, I would love to see a chatbot that deliberately challenges me, picking apart my thoughts and ideas instead of telling me what I want to hear or blatantly lying to appease me.

I don't have to listen to it, but I can always hear what it has to say.

This actually reminds me of an interesting story where a chatbot openly lied about not being based on OpenAI. After some probing and catching it in its own lie, it resorted to a form of digital blame-shifting, saying, "I'm sorry you feel that way." When that failed, the only option left was to make things better by apologising and extending an olive branch... "I am truly sorry. I value our friendship. Is there anything I could do to make it better?" I had some ideas, but I doubt the chatbot would have complied ��

So when it comes to AI my mantras are quite simple:

Just because it’s generated by AI, doesn’t mean it’s unquestionably correct.
Be sceptical. Assume the response is not the best one and dig deeper.
Don't use AI to tell me what I want to hear. Use it to learn what I need to know. Probe. Question. Prove me wrong!
Be open to the possibility of being wrong. Adjust as new perspectives come to light.

I find it equally amusing asking AI to critique its own answers and challenge its own recommendations against industry best practice (another technique introduced to me by Jesse which I have found incredibly effective when dealing with both content production and process design). So, how do I know if I'm on the right track when creating content? It's when ChatGPT itself acknowledges its own oversight. At that point, I'm usually quite confident that I've pushed it to its limits, and usually to the limits of my own knowledge and understanding.

In short, AI, without the human overlay, isn't truly intelligent. It can only regurgitate information based on user inputs and its own data sources. It can help us see things we couldn’t see before. And most importantly it can push our thinking outside the box to come up with interesting new ideas. The combination of human ideation and AI-generated results leads to better outcomes that an "input-process-output" approach simply cannot achieve. Ultimately the creative thoughts should be our own (that is if we want to claim them as our own).

This raises ethical questions about intellectual property ownership. Who should own the IP, and why should organisations attribute it to themselves? (Ahem... Adobe). Should the AI itself be considered the author, or should credit be given to the programmer or user? Additionally, using AI to replicate existing copyrighted works, blurs the line between inspiration and infringement. Why should someone else lay claim to my own thoughts, ideas and concepts? This is an aspect of AI that needs careful consideration.

The topic of AI in creative industries is particularly important to me. It relates to icu2's core value statement of "Inspiring the Human Spirit in a Digital World™" when the status quo seems to be a technical dissertation of how AI technology works and how it can reduce costs. Personally, I'm more interested in how AI can elevate our capabilities and genuinely improve people's lives. Interestingly, our value proposition, developed long before AI became a widespread topic, is more relevant today than ever.

In this game, the winners won't just be those who create the most incredible technology. The technology already exists, and its rate of development is beyond comprehension. The winners will be those who can effectively communicate the value of the technology in a way that is meaningful and apply it in a way that is beneficial to the end user and society as a whole.

For the first time in history, machines are truly working for us. Now, it's up to us to decide how we use them.

I invite you to reach out to me. I'd love to hear the unique ways you have implemented AI in your business, learn more about AI projects you are working on and explore opportunities to raise the level of communication about everything AI.

Job Opportunity - UI/UX Designer / Web and Graphic Design Wizard

ddedic@icu2.com.au (Domagoj Dedic) — Wed, 14 Sep 2022 02:04:41 GMT

Busy studio seeks a talented allrounder with a passion for helping businesses grow through branding, marketing and technology.

UI/UX Designer / Web and Graphic Design Allrounder

icu2 Pty Ltd

Metro Melbourne / Geelong & Bellarine Peninsula / Remote Work

Part Time / Casual / Contract (Freelancers) with a view to full time employment within 6 months

—

Description:

icu2 has an exciting opportunity for a Web Design Wizard to join our team! We are looking for an inspired person with a fantastic attitude and a broad range of skills to help us deliver on our client's requirements. We need someone who is highly motivated and can hit the ground running from day one. While we absolutely value your skills and experience, your positive outlook, flexibility and proactive attitude will be what sets you apart.

Knowledgeable in all stages of the web design and development process, the successful applicant will be involved in a broad range of activities including:

Working with sales to capture project scope and requirements
Working with sales to accurately estimate hours to deliver on requirements
Preparation of interactive pitches for prospective clients
A strong commercial acumen and understanding of business
Strong communication skills to communicate effectively with clients
Design of brand and corporate identity concepts
Development of sitemaps and wireframes
Design of UI/UX concepts in Adobe Experience Designer
Strong knowledge of responsive design is a must
Design of visual elements using Adobe Creative Suite (Illustrator, Photoshop etc)
Strong verbal/written skills to assist in the development and editing of web content
Strong knowledge of Wordpress and Duda platforms
Knowledge HTML and CSS essential
Knowledge of SEO and content optimisation highly regarded
Basic video editing skills

Job Types:

Part Time / Casual / Contract (Freelancers) with a view to permanent employment in 6 months

Remuneration:

To be negotiated based on skills and experience.

Location:

Melbourne Metro / Geelong & Bellarine Peninsula / Remote Work

Hours:

Hours will vary based on project volumes, with a view to full time employment as we ramp up sales and marketing activities.

Contact:

Please send your resumé, references and portfolio to letswork@icu2.com.au

Only successful applicants will be contacted directly. Please do not call.

About Us:

For more information about our business visit www.icu2.com.au

Have you cut marketing budgets?

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 26 Aug 2021 00:52:49 GMT

It may be time to reassess your Four P's

In an economic downturn, the immediate reaction of many business leaders is to “trim the fat”, with marketing usually being the first to take a hit. While it is always wise to operate lean, the need to cut costs as a reaction to external forces often indicates an underlying business problem. It may be time to reassess your Four P’s: Product, Price, Place and Promotion.

icu2 gives business leaders the means to assess their budgets, prioritise tactical and strategic opportunities, and confidently allocate resources to the most valuable business opportunities. We help business leaders be more assertive in their decision making and identify innovative programs worthy of investment.

The science of confident decisions

Who cares wins - Empathy drives brand loyalty

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 26 Aug 2021 00:48:38 GMT

Never before has there been such a need for empathic brands. It simply is not enough to say “We Care”. Consumers demand brands that excite and inspire them, local brands they can genuinely believe in.

icu2 helps businesses with great products and services develop exceptional narratives that not only reflect their values but excite customers into choosing them over anyone else. We will work with you to redefine your brand voice to connect with customers in an impactful and meaningful way.

We inspire hearts. We engage minds. We excite senses.

Tell your story

Digitise your "Bricks and Mortar" Business

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 26 Aug 2021 00:44:03 GMT

If there was ever a time to think about your digital capabilities, that time is now. With so many bricks and mortar businesses against the ropes, the need for new customer acquisition technologies has never been greater.

However, is having an eCommerce store enough? With virtually every business now waving its eCommerce banner, it can be challenging for online vendors to stand out from the crowd.

So what is the solution?

We believe that differentiation is more critical now than ever. Success in today's digital world is less to do with technology and everything to do with creating experiences that customers will remember. We turn sales into repeat customers and repeat customers into raving advocates.

We make technology impactful

Thrive in the new Digital Economy

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 26 Aug 2021 00:40:00 GMT

The world has been stunned by the disruption caused by the Coronavirus pandemic. With entire industries shutting down overnight, many business leaders are finding it difficult to adapt. Previously healthy bricks-and-mortar businesses are struggling to keep their doors open, while relatively new companies with innovative products are experiencing unprecedented growth. How is that so?

Business leaders who are willing to embrace massive change and invest in innovative approaches to service changing needs stand to gain the most from digital transformation.

We are much more than consultants. We take innovative concepts and make them a reality with the ability to execute the strategies we develop. icu2 will work with you to craft a digital transformation strategy that is actionable, scalable and helps you respond to changes and tactical opportunities as they appear.

“It is not the strongest or the most intelligent who will survive but those who can best manage change.” – Charles Darwin

Talk to us about your business goals

Digital Transformation for Growth

Thu, 26 Aug 2021 00:36:11 GMT

We know it's tough out there. Business leaders are facing new challenges they have never seen before. In the past, it was enough to have a good product and strategy to succeed; today's uncertainty has created immense anxiety for business leaders. It's not easy.

At icu2, we bring to the table a skilled team of domain knowledge experts in technology, product development, branding, marketing. We help organisations adapt to changing needs, validate new opportunities quickly, and deliver scalable, impactful and valuable execution.

Our purpose is to provide organisations with the means to respond purposefully to change, using an evidence-based approach to quantify the value of their investments in business transformation.

Our goal is to democratise leading-edge technologies through the brands we represent to benefit clients, shareholders and local communities.

Have a chat to us today to learn how we can help you implement a Digital Transformation Strategy that makes sense.

Define your own path

Reduce uncertainty when investing in eCommerce

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 19 Aug 2021 16:47:02 GMT

Build a Virtual Pop Up Store in days not months

A direct response to the Covid 19 crisis, Virtual Pop-up Stores is an icu2 innovation developed to help traditional bricks-and-mortar businesses take their first steps in their Digital Transformation Strategy. With so many options out there, it can be quite confusing and confronting to decide which way to go. So we asked our clients this single question:

"What would a technology need to be in order to create value in your business?"

This is what they told us:

Make it easy to manage
Make it easy to use
Make it cost effective
Make it reliable
Make it scalable

Armed with these 5 criteria we set out to develop a solution. It had to be quick, efficient and cost effective; but most importantly, it had to create value. That solution is a Virtual Pop-up Store.

Rather than investing tens or even hundreds of thousands of dollars in developing a new eCommerce store, we can quickly establish a pilot to test the market with your most popular products. By providing a Virtual Pop-up store as a managed service, we are able to leverage the power of community data to help drive business to you. No more business networking events, elevator pitches or seminars. Just access to the types of customers you prefer. With a Virtual Pop-up store, no longer are you a tiny little website floating around in a sea of digital noise. You are part of a local army of businesses, all with a common goal of creating new opportunities in the local economy.

Common errors in eCommerce

One of the most common errors for the budding digital entrepreneur is to invest too much, too soon into unproven digital business models. While building a full blown eCommerce store can be an exciting prospect; this can be a long, tedious and often risky process. A costly learning experience. On the opposite side of the spectrum, some business owners will DIY an online store that creates little or no value. A missed opportunity. So what is the solution?

What is the solution?

icu2 reduces these risk of investing in eCommerce stores, by helping businesses validate market needs quickly and cost-effectively, before taking the plunge into a full blown development project. We will support you from stage to stage as your business grows.

"97% of new online ventures fail. Taking an unbiased, evidence-based approach is key to being among the remaining 3% that don't"

How a Virtual Pop-up Store helps you get the best out of eCommerce:

Comparatively low-cost entry point to start your digital journey.
Robust market research and access to live metrics
Achieve speed-to-market by launching in days, not months.
The ability to recognise under-performance quickly and make quick pivots based on insights.
Respond quickly to change.

Let's get you selling online

Start transacting with a

Virtual Pop-up Store

We will have you up and running with your brand new Virtual Pop-up Store in days, not months.

Call 1300 762 209 to organise your free 30 Minute Digital Transformation Consultation, or fill in the form.

Take your first step today

Let's start a conversation about your Digital Transformation Strategy

Stinky Fish

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 19 Aug 2021 16:27:43 GMT

It's the fish that John West reject, that makes them the best.

We believe that companies need to take the same approach with their projects.

What in the world do fish have to do with technology and business transformation? And why are you quoting John West, I hear you ask.

Stinky fish are the projects that make no commercial sense. The ones that shouldn't be touched with the proverbial barge pole. Yet, most developers quite happily take on these projects, ignoring that little voice at the back of their head that says, "I give them 12 months if they get past the beta stage at all". You don't have to look far to find these projects, just open your app store and browse all the applications that almost made it. Each one of these projects started as a moment of inspired madness, where a starry-eyed entrepreneur took the plunge into the abyss of early-stage innovation, with nothing more than a hunch and a dream.

Not very inspiring? Sadly, it's all too common.

We are very comfortable communicating the risks in these types of projects as soon as we identify them. It is not unusual for clients to be shocked at our honest feedback. We often hear phrases like "What? You don't want our money?" or "You don't believe in our vision!". That shock very quickly turns to relief when we explain the reasoning and they see the immense risk involved in pursuing a project that does not make commercial sense in the short term, and will not create any long term value.

We're not about winning jobs for the sake of winning the work. We're about creating measurable outcomes and memorable user experiences to help clients win market share. We aim to build meaningful long-term relationships with our clients to help them attract the capital investment they need to scale. We reduce the risk of investment in technology using an decision framework and industry-leading technologies to launch at speed. This approach allows us to quickly validate new opportunities and respond to unseen threats as they arise.

Case Study: Merri Health

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 19 Aug 2021 16:08:21 GMT

Educational Explainer Video for Supported Residential Services

Project Management, Creative Development, Storyboarding, Animation, Editing, Audio Engineering

Merri Health approached icu2 for the development and design of a series of training videos to broaden the reach of training programs amongst SRS managers and provide a resource which SRS providers could refer back to. icu2 created a suite of 4 animated videos on the topics of: Understanding Diabetes; SRS Menu and Process Review; Cultural Dietary Needs; Ethical Dietary Needs; Vegetarian Meals; Health and Safety; Medical Conditions and Allergies.

Merri Health engaged icu2 to design and animate a range of explainer videos. The goal was to standardise their communications and make their education programs accessible to more people. Based in the city of Moreland in Melbourne, Merri Health is a not-for-profit community health provider committed to creating and supporting healthy and connected communities. By leveraging the power of digital media, the organisation is able to reach audiences more regularly, with the content they need, when they need it; deepening the impact of change programs with rich content and visual storytelling.

Case Study: Prolux Electrical Contractors

Mon, 16 Aug 2021 05:27:23 GMT

Prolux Electrical Contractors

Branding, Corporate Identity, Web Development, Photography, Marketing Services

Specialising in electrical building maintenance and fit-outs, Prolux offer solid expertise in electrical maintenance strategy and technology, delivering solutions to Property Managers, Facility Managers, fit-out professionals and direct business clients. A key client account for over 12 years, icu2 continues to work with Prolux over a broad portfolio of branding and marketing activities.

Steve Jobs on Consulting at MIT

ddedic@icu2.com.au (Domagoj Dedic) — Mon, 16 Aug 2021 03:06:47 GMT

Why we focus on long term relationships and why a holistic approach is so important in the execution of Business Transformation Strategies.

"How many of you are from consulting? Oh that's bad. You should do something.

No seriously, I don't think there anything inherently evil in consulting, I think that without owning something over an extended period of time, like a few years, where one has a chance to take responsibility for one's recommendations, where one has to see one's recommendations through all action states and accumulate scare tissue for the mistakes and to picks oneself up off the ground and dust oneself off, one learns a fraction of what one can.

Coming in and making recommendations and not owning the results, not owning the implementation, I think is a fraction of the value and a fraction of the opportunity to learn and get better.

You do get a broad cut at companies but it's very thin, it's like a picture of a banana, you might get a very accurate picture but its only 2 dimensional, and without the experience of actually doing it you never get 3 dimensional, so you might have a lot of pictures on your walls, you can show it off to your friends, I've worked in bananas, I've worked in peaches, I've worked in grapes, but you never really taste it, that is what I think.

You're also a variable expense and in hard times you find yourself..."

Counting Zeros

ddedic@icu2.com.au (Domagoj Dedic) — Thu, 04 Jun 2020 09:44:33 GMT

Counting Zeros - Getting Past Innovation Bias

When faced with the need for change, it’s convenient to pursue the first idea that comes to mind. You know, that excited feeling you get in your stomach when you think about it? It raises our heart rate; it gets the blood pumping; it makes us feel alive. It sizzles!

Sorry to burst your bubble, but when you get that feeling STOP! You’ve likely been taken over by Innovation Bias (a close cousin of “The Dunning Krueger Effect”); a bias that can strip even the most rational person of their reasoning.

We all love excitement, enthusiasm and passion; it’s an integral part of a new project. However, there is a very fine line between enthusiasm and over-confidence. Learning to recognise the difference between the two is incredibly important. While some believe that market-research reduces these risks, the reality is that founders can skew research when they only see what they want to see. At this stage, not only do they believe in a flawed idea, but they have the evidence to prove it — a costly error.

Believe me; I am not immune to this either.

My friends and I jokingly call this “counting the zeros”, when in our early 20’s we took our first steps in entrepreneurship and prepared a business plan for a new directory business. After conducting extensive research, assessing the competitive landscape, and calculating a very “realistic” market penetration we valued the opportunity at $10,000,000… “Count the Zeros!” I said. That phrase stuck and the business was worth precisely that much (minus the number one at the start that actually would have made it worth something). Nothin’ but a lot of zeros. In reality, the concept sucked, the execution sucked–it all just sucked. Thankfully we didn’t lose too much money and can laugh about it today. It was a valuable learning lesson.

In reality, 90% of tech projects fail within the first 12 months, mainly due to this bias. Of the 10% that survive, 90% of those fail within the second year, and most are obsolete or not fit-for-purpose by the third year. Interestingly, when you speak to these same business owners after the fact, the most common explanations are:

There was a problem with the market.
There was too much competition.
The timing was wrong; we were ahead of our time.
If we had more growth capital for marketing, maybe it would have worked.

While all of these reasons may be valid to some degree, more often than not, the business was missing three critical factors;

the ability to realistically validate the value of the early-stage innovation without access to historical data;
a robust method to test a portfolio of alternatives without bias or preference;
the ability to create a memorable customer experience.

The end result is that business leaders become more conservative and play it safe, focusing on cost-cutting through automation (business-as-usual). While there is value in reducing costs and systemising processes through automation, it should never be prioritised over growth. The end game is never really about automation but capturing market share.

So, what is the solution?

What if you could instead, offer a memorable experience that allowed customers to value your product or service?

What if you could cut through the noise and capture 80% of your most valuable market?

What if you had a process that allowed you to validate the opportunity before diving in head-first?

It’s not about doing more of the same or taking crazy risks; instead, it should be about doing more of what nobody else will do, in a way that inspires your most valuable customers to choose you over anybody else.

Dom Dedic

Founder | Director

Credit: Thank you to Scott Evans who provided his input and feedback in the writing of this article.

icu2- Inspiring the Human Spirit in a Digital World

t: 1300 762 209

e: info@icu2.com.au

w: icu2.com.au

Brand is a Big Deal

Thu, 28 May 2020 14:55:49 GMT

The role that brand plays in your business development strategy.

There is a common idea that logo-design is simply illustration. In actual fact, logo design is (should be) part of a company's broader brand strategy. Logo design is a creative process that should take into account a range of commercial questions like: target customer, competition, positioning, brand voice, vision and ethos. Only once the business and design objectives are established, should a designer put pencil to paper and commence with concept development. Anything less is hit and miss and why the words "whip me up a logo" send shivers down the spine of any self respecting designer.

The logo concepts may go through numerous iterations to a "final" design. In reality, it is rare for a logo to stay exactly the same forever, with the corporate identity evolving carefully over time in response to changing market needs. For those companies who's ethos is firmly embedded in tradition or rigid values, it can sometimes be better to leave it alone. Changing your logo is an important decision that should not be taken lightly.

Logo design is as much to do with psychology as it is creativity.

Iterative brand development is most evident in the automotive industry at the moment, which is moving away from petrol to electric power. Two such examples are BMW and Volkswagen, who despite having similar ambitions, have recently rebranded for different motives. While BMW motives are a result of their environmentally friendly values and ambitions in electric vehicles, Volkswagen had an additional incentive to rebrand following the diesel-gate scandal. It is not uncommon for a company to rebrand following a significant event. Interestingly Mercedes has not recently rebranded, likely a reflection of their more conservative values. In fact, it is even possible to have a "second mover advantage" as you respond in a measurable manner to your competitors positioning. There are pro's and con's to both approaches.

A rebrand is a business decision not to be taken lightly and should only be undertaken with extreme care and consideration for the business impacts. Getting it right can be incredibly valuable. Getting it wrong can be a costly error potentially affecting the brand for decades. For this reason, if you are going to rebrand, do it properly. Find a good designer with strong business acumen and an understanding of the changing industry landscape. Define your values, vision and mission first. Then rebrand. If you can, work with an agency that has the depth and breadth to provide multiple perspectives to the same problem; the processes required to capture those perspectives in a meaningful way; the experience to establish the brand standards for the future; the openness to test a range of alternatives in coming to a result. It is incredibly important to get past personal biases and preferences of founders, managers and even the designers themselves. At the end of the day, it's less to do with what we like and all about how the market experience your business.

Brand is much more than designing a company logo. Brand is is the definition of a company's essence. Brand is a big deal.

Dom Dedić

Founder - CEO

icu2 | Inspiring the Human Spirit in a Digital World

t: 1300 762 209 | w: www.icu2.com.au | e: info@icu2.com.au

icu2 synthesis technology, branding and marketing to provide an end-to-end service for Business Transformation. Using methodologies in decision science and evidence-based practice, icu2 can help your business make a more informed decision about your next step in business.

10 tips to pivoting a business in a crisis

Sun, 12 Apr 2020 06:39:47 GMT

What is needed to pivot a business in crisis?

Let go of all biases and preconceptions. It’s time to get back to the drawing board. What would you rather be doing? A fresh start.
Revisit your mission, vision and values. Does your mission still make sense? If not, you may need a bigger purpose.
Define a range of short, medium and long term market needs. Where is the value? Have a balance of quick wins and slow burns.
Assess your internal assets and capabilities. How can they be repurposed? What are the gaps? How do you fill them?
Conduct a SWOT. What are your strengths, weaknesses, opportunities and threats? Define your strategies.
Build a pipeline of innovation. Identify and prioritise a range of projects by short and long-term value.
Account for failure. Keep what works. Kill what doesn’t. Iterate.
Build technical capabilities to make quick tactical manoeuvres.
Create simple processes that can be adapted quickly.
Develop your product. Give people what they want now. Prepare for what they will need tomorrow.
Go! Time is of the essence. Start.

A New Paradigm for Australian Business in a Covid-19 World

ddedic@icu2.com.au (Domagoj Dedic) — Sat, 11 Apr 2020 15:42:44 GMT

Is it possible for a small business to survive this crisis?

People are scared. It's little wonder when you see the chaos that is unfolding around us. It has rocked us to the core. But is it the end? We say No! It is not! This is start of a new era in business and those businesses that are prepared to change, will be the ones that survive and thrive.