Sometimes, the hardest part of growing a business is letting go, yet it’s the unstoppable force of innovation that will set your business apart! What business model do you use? How long has it been since you’ve evaluated your relationship with your buyers? In what areas of your business can you innovate efficiency that will save both you and your suppliers money and keep your business moving forward. Stop spinning your wheels doing the same old thing. Stop wasting time and energy, and get to your desired outcome. 

 

Kate Vitasek is a professor of business and the University of Tennessee, the author of 6 books, and a business model innovator. Kate has spent time in the trenches studying business innovation with the Air Force and has had experience as both a buyer and a supplier for Microsoft. If anyone knows both sides of the buyer/supplier relationship, it's Kate. Listen this week as Kate shares the results of her research and her 5 step plan to jumpstart your business innovation. Her collaborative and innovative approach to business is a breath of fresh air, and just what you might need to grow your business. 

 

 

• The old model is to hold all steps of the process internally. 
• Shifting towards a collaborative mindset has staggering results. 
• What’s in it for We mindset. 
• The way to craft a contract to support a high expansion mentality. 
• Discover the 5 Vested Rules
• Use the wisdom and experience of the suppliers to inform the buyer. 
• An example of innovation from even the Janitorial level. 
• Define your expected outcomes: speed to market, cost structure, process innovation, etc. 
• Water for People as an example of a company that generates real change using creative solutions and true partnerships. 

 

 

Links:

http://www.vestedway.com/about-kate-vitasek/

Follow on LinkedIn: https://www.linkedin.com/in/katevitasek/

Resources:

Strategic Sourcing in the New Economy by Katie Vitasek