BrightFire Shares Insights at Shibumi Product Advisory Board
Bryan Seyfarth, Founder and CEO of BrightFire, and the rest of the BrightFire team have had a busy Autumn season--leading demonstrations, consulting with clients, and they have now developed of a full complement of training tools and programs for implementations of the BrightFire App for Innovation and Product Management.
BrightFire was also asked to present feedback and learnings from our client work at last week’s Shibumi Product Advisory Board in Detroit. Bryan offered insights regarding the BrightFire benefits most valuable to clients, and shared three principles regarding how business leaders might improve their own innovation and portfolio management processes:
Deploy gated innovation processes that enable both iterations AND governance. The need for governance rigor and process flexibility is not mutually exclusive. Gated processes can be structured to ensure good decision-making while providing teams the flexibility to adapt processes to their needs. Additionally, the Agile principle of “iteration” can be modeled as an important early phase in these processes.
Simplify resource demand planning via “Agile-like” shirt-sizing. Medium-sized and smaller companies need to understand the demands on their limited resources but often struggle to leverage detailed resource management approaches that require too much rigor or that are overly complex. The Agile principle of “shirt-sized” resource plans enables them to efficiently model resource demand and use it in their decision-making.
Ensure prioritization is conducted in context of resource constraints. The most important element of portfolio management is also the part in which nearly every company struggles: how to prioritize projects against a set of limited resources. Bryan shared how the BrightFire app enables this important decision-making process, offering an elegant method that is easily adoptable by nearly any company, regardless of size.
The BrightFire App and these approaches were well-received at the conference, and the market momentum for our solution continues to grow in the CPG, food and beverage and process manufacturing space.
About BrightFire and the BrightFire App
The BrightFire App enables Consumer Packaged Goods (CPG) companies, food and beverage companies, chemical manufacturers, and other organizations with high volumes of new products to achieve their growth targets for revenue, profit, and volume on a more consistent basis by:
Improving innovation investment decision-making amongst cross-functional executives in both portfolio and phase-gate meetings.
Enabling product managers and cross-functional teams to plan and execute on all types of innovation and product management initiatives, such as new-to-the-world products, line extensions, cost-savings, quality improvements, packaging or sourcing changes, and promotional projects.
Streamlining the creation and management of cross-functional business data across the innovation lifecycle, including product definitions, feasibility assessments, financial models and resource capacity plans.
BrightFire is led by founder and CEO, Bryan Seyfarth. For nearly 25 years, Bryan has worked with diverse companies throughout the world on the use of new innovation practices to improve product success and drive organic growth. Clients have included the world's top brands and most well-known innovators, including half of the largest CPG firms in the world.