IWD Plug
Procter & Gamble has done quite well in the last few years and they have gotten a lot of press about product development in the consumer products field. What's changed? A few years ago they outsourced creative product development for about 20% of their ideas; now more than 50% come from "Ideas" type businesses.
Give me a call at 877-312-1706, ext.101. Or email me:
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Creating
Bumblebees
In theory a bumblebee can't fly. One of our rules in any creative project is to remove barriers while we explore a lot of ideas. If we had been the first to create a bumblebee, would we have said "no, we can't use those wings - they just won't carry the weight" and moved on? Or would we have said "what if we taper them a little and make them flap a lot faster"? You get the picture. In starting a development project we recommend ignoring the barriers as long as reasonably possible and exploring a lot of seemingly stupid ideas because one may be a breakthrough.
Acceptance is another tool to development. We try to work in a non-judgmental environment where any trial or experiment is worthwhile. If we rule something out before trying it we again might miss a golden opportunity. Try a lot of things and keep what works - don't worry about what doesn't work.
Remember: a culture of innovation tolerates and rewards failure and then truly smiles upon creativity.
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Upcoming Issues
APRIL
International
Housewares Show
Chicago
MAY
National Restaurant
Association Show
Chicago
JUNE
Trends in Outsourcing
Design & Innovation
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We had a lot of fun doing the NAFEM newsletter issue last month. It was a challenge to figure out how to report on a large show full of interesting new products. Ultimately it made sense to let NAFEM's new "What's Hot, What's Cool" showcase act as a filter and write about the equipment manufacturers placed in it. Even giving ourselves that limitation, we were frustratingly unable to meet with every manufacturer in WHWC to cover all the items in there, and for that we apologize.
I need to make clear to you that we:
- do not take advertisements of any sort
- do not receive compensation of any sort for reporting on products
- do not allow manufacturers to influence what we include in our newsletter.
Following the NAFEM issue I received several emails that suggested we are influenced by advertisers. Nope. We produce this newsletter for the fun of it - it gets our name out there, promotes our services, we get to talk about things that interest us, maybe we even start some conversations about innovation and technology in the foodservice industry (that would be a wonderful outcome!).
We try not to play favorites, but I admit to giving more time and space to manufacturers who give me thoughtful, honest answers to questions and who understand their equipment well enough to provide background on why they designed it the way they did.
We're off to the International Housewares show in Chicago this weekend and will report on that in April. We expect to see new ideas and approaches in the household marketplace that can be relevant to our industry. Then we'll cover the NRA show in May - I hope we'll see you there.
Best Wishes,
Mary Esther Treat
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R &D Spending During a Recession
Many companies recognize the necessity of R&D spending during difficult financial times in order to be ready with new product when the market rebounds, which eventually it will do.
In a study of the early 90's recession, McKinsey & Co learned that successful leaders (businesses that started and remained in the top quartile of their industries) did so in part by increasing their R&D spending dramatically - more than double their pre-recession spending.
A study by the Industrial Research Institute found that half the companies it surveyed expect to increase R&D spending this year and half expect to cut it. Companies in the petroleum and food sectors are more likely to increase R&D spending, while consumer product companies are more likely to reduce it. An increasing number of companies plan to form joint ventures for R&D, including teaming with universities and federal laboratories. [Reported in the Washington Business Journal, 3/2/09]
An important consideration - R&D tax credits. Even if unable to claim tax credits because of inadequate income, the credits can be listed on a company's balance sheet as an asset carried forward.
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IWD's Innovation Showcase
Ideas Well Done is hosting an Innovation Showcase on Monday, May 18 (during NRA) at The Chopping Block culinary school in The Merchandise Mart in Chicago.The IWD Showcase will offer a peek at products that are new to the market or under development and is open by invitation only to national restaurant chains. We offer attendees the opportunity to view, discuss and influence products that will soon enter the foodservice equipment marketplace; we will encourage discussion between attendees and manufacturers of observations, needs and opinions on future equipment development. Each chain will have a private showing.All attendees will be required to sign confidentiality agreements.
Ideas Well Done manufacturing clients represented include: Cooper-Atkins, Equipex, Studham Technologies and Woodstone as well as other product developments by Ideas Well Done.
IWD can provide transportation from NRA or your downtown hotel to the Showcase site and back, by reservation.
Space is limited - if you are interested in attending please contact Mike Colburn at 877-312-1706, extension 101.
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Hi! I'm Mat...
Check out this roll-up stove top designed by Maurizio Maiorana.
The Cooka is a thin tabletop electric cooking device that's made out of non-toxic Liquid Silicon Rubber, a substance that can sustain itself under high temperatures. The heating elements are made out of silver, which heats up and cools down utensils quickly. Surrounding the silver plates are small holes that blow a stream of hot air around the cooking utensils so excess heat does not escape during cooking.Yanko Design - Cooka
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Please forward this newsletter to anyone who would be interested in
foodservice equipment design, development and invention.
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