Innovation

Innovation

The Project

The client was involved in an industry that was dominated by one central processing and marketing business that was failing to invest in the long-term and driving prices below the cost of production to the determent of the entire industry. The client and industry needed to make use of innovation and a new business model to make it viable again.

The Solution

The introduction of a new industry competitor that adopted a different mindset that begun by:

  • Adopting existing industry research and picking up ideas that simply had not yet been implemented
  • Partnering with both industry experts and others to create significant efficiency and sustaining innovations

The combination of those two activities allowed for:

  • The elimination of a large proportion of the production process – reducing product damage and increasing production efficiencies and customer value
  • A new way of transporting and drying the product that also reduced product damage – increasing production efficiencies, product differentiation and customer value
  • The transfer of knowledge from other industries and adopting automation to improve processing efficiency and lower costs
  • A dogged focus on quality improvement and product differentiation to secure premium prices
  • The education of the market in respect to the product’s key points of difference and to drive market uptake

The Result

The combination of increased prices resulted in increased revenue and the efficiency improvements resulted in lower costs thereby returning profitability to sustainable levels and the industry to growth.

About the Author

Grant Ferry

With over 20 years experience in advising business owners, I passionately believe small to medium size business are the engine room of the economy and that ongoing innovation is the fuel that powers their growth and their owner’s long-term success.

Through a wide range of practical experience, I understand that Business Strategy and Business Innovation are critical elements for sustained business success.

The right Business Strategy is needed for the business to realise the owner’s goals and dreams. Ongoing Business Innovation is needed to not only survive in an increasingly competitive and global market but to also drive sustained business growth and success over time.

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    "I have come to know Grant recently and have engaged his services to assist in the operations and structure of Books In Shape. His knowledge, expertise and wisdom exceeded my expectations on each occasion he has consulted with us. Every time we met to discuss various aspects of our business, he was punctual, reliable and went out of his way to provide a service with a high level of excellence. I highly recommend Grant as a man who not only has a wealth of knowledge, but as one who is able to astutely apply it to the situations faced in business. We have benefitted greatly as a business as a result of his input."

    ~ Keith Berry – Managing Director, Books In Shape Pty Ltd
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    "Grant has helped me manage a wide range of business challenges.  His unrelenting pursuit of positive outcomes has helped me achieve my goals, both personal and business. He is truly committed to my success."

    ~ Brett Pickering – Managing Director, Fruit Master
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    "Grant dedicatedly works as a true business partner in a way that we find both very refreshing and rewarding in today’s business environment.  He has been pivotal to the effective management of our business and attending to many pivotal commercial issues and transactions.  No matter what the situation at hand, Grant always has something valuable to bring to the table."

    ~ Col Beasley – Managing Director, Thurla Farms
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    "For over 15 years, Grant has provided me with expert financial and commercial advice and support that has translated into significant value.  He has been invaluable in taking a lead role in developing and implementing strategies that enhance my business’s performance and my personal wealth and security."

    ~ Frank Tierney – Managing Director, Tierney Property Group
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    "We have been working with Grant for more than 20 years and have relied on his expertise during the acquisition, growth and sale of a range of business ventures through this time.  He has a sound appreciation for our personal goals and provides us with the high-level business advice and support we need to make the most of our opportunities.  His breadth and depth of knowledge, negotiation skills and in particular his ability to bring new ideas to our businesses, have been a significant asset that continues to play a pivotal role in growing and protecting our business and realising our long-term dreams."

    ~ John O’Connor – Managing Director, Sharps Australia
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    "We had no idea that we were steering a rudderless ship until we spoke with Grant. Through revision, vision and the ownership that Grant has applied, our business has found a new and exciting direction.  Our goals for growth are now in view and we feel confident and excited about our future."

    ~ Shaun Halit – Managing Director, Rural Fence & Trade
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    "I have known Grant for many years, and have worked collaboratively with him to assist his clients with their legal and taxation needs.  During this time, I have been extremely impressed by Grant’s comprehensive understanding of his client’s businesses and the care and concern he shows for addressing his client’s issues. Grant is a very proactive adviser, thinking two or three steps ahead and addressing issues before they become a problem. I have seen first-hand on numerous occasions how Grant’s skills and deep understanding of how businesses operate have led to genuinely innovative solutions. As a legal adviser, it is a great help working with an adviser who has such a comprehensive knowledge of what the client is looking to achieve, and can add his own experience and lateral thinking to help resolve legal issues. Above all Grant takes genuine care of his client’s, treating the needs of their business as if it were his own. No stone is left unturned if it can lead to an improvement in the business, or could become a problem in the future. I would recommend Grant to any small to medium business owner who is looking to improve the way the business operates, needs help to address something holding the business back, or wants a knowledgeable and trusted adviser to help guide them."

    ~ John Storey – Managing Director, Velocity Legal
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    "Grant has been a great asset to The 500 Group providing business advisory and strategic planning services. Grant’s expertise and advice helped navigate The 500 Group through complex commercial and legal issues and assisted enormously in the growth of the business. We are grateful for his support and professionalism and would recommend Grant to anyone who is looking to maximise the value of their business"

    ~ Greg Pierlot – Managing Director, The 500 Group Pty Ltd

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