On 5th of May Pilot Fish Strategy was premiered to 400 CEO’s at Leaders Forum, annually organized by Danske Bank to their partners. An exclusive concert hall was decorated in Pilot Fish Strategy blue and one hour session was introduced with nautical video featuring the sea life in deep blue oceans. Then Peter started. He took an audience to the inspirational journey beginning with the need to find more clever strategies to grow: faster, with more leverage and less risk.
Peter introduced the Pilot Fish –process starting with an inner quest for unique skills. What are we, as a company or as individuals truly great at? What makes us special? Peter highlighted several companies that feature unique capabilities: YKK, Dolby, Rolls Royce to name few. These companies are all strategic partners to much bigger companies around the World, by offering those specific services and products that compliment their partners’ offerings. But how to find such attractive partners?
In this part Peter introduced the fascinating stories of Golla, the Finnish mobile device accessories’ marketer and WuXi Pharmatech, Chinese R&D lab for medical industry. Later was founded to fill the gap emerged when huge pharmaceutical companies fired a lot of R&D personnel during this recession. So the circumstances played an important role in partnering up but what else? Those at Leaders Forum now know…
But’ isn’t there risks involved in laying all the eggs in one basket? In third part of the presentation Peter showed, how Pilot Fish companies have grown together with their giant partners and managed the risks involved. As many of them say: you have to be involved in partners supply chain, R&D and business planning. That separates a true Pilot Fish company from subcontractor and makes it possible to enter the phase 4: to become a branded big shark on your own like Golla did when broke free from Nokia or to make a successful exit like Jibbitz that started up by providing Crocs shoes with decorations and ended up by selling itself to Crocs for 20 USD million.
The session was ended by the video of pilot fish swimming with the sharks. The commentary of famous zoologist Aleksei Turovski explained: Pilot fish provide sharks with essential services they can’t or don’t want to carry out themselves. And in return pilot fish get security and endless table full of food. An attractive partnership model also in business life, wouldn’t you agree?!