Look Adjacently for Innovative Solutions

Are you looking for innovative solutions for your business?  Are you convinced that every good idea has already been tried?  The answer is to look adjacently.  That is, look outside of your immediate category to identify successful ideas and adapt them to fit your business.

The four friends at ForFriends Inn, a Santa Barbara wine country bed and breakfast, did just that.  The owner Jim Campbell and his partners wanted to offset the expense of fine wine served to guests during happy hour each day – a customary practice in bed and breakfast inns.  But how?  They found the answer in a completely unrelated industry – Professional Sports.  In the sports world, it is common to cover expenses through selling of naming rights to stadiums, sky boxes, concession stands, etc.  A perfect fit for Jim’s hospitality business could be selling the naming rights to rooms!

The value proposition to potential sponsors was obvious – exposure to over 5,000 room guests and 15,000 website visitors each year.  Jim and his team shared the exposure play with interested wineries and within a short period of time, had signed contracts for many of their rooms.  In exchange for renaming the rooms, the team at ForFriends Inn received wine in-kind goods which significantly reduced their monthly operating expense burden.  The concept worked so well to reduce OpEx that they then began to offer similar sponsorships to companies that could directly influence the revenue line.  See the names of all of the rooms at www.forfriendsinn.com.

Need inspiration for innovative solutions?  Look adjacently for ideas and then adapt them to your business!

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Every company benefits from increased sales, smarter spends, and the introduction of new and innovative products. The Carleton Group is uniquely qualified to help companies accomplish their goals in each of these areas.  The Carleton Group, a Management Consulting firm based in Moorpark, CA focuses on Sales Training for all industries, Business Strategy, Planning and Tracking, Financial Projections and Expense Management, New Product Development and Go-To-Market Processes, and Business Start-Ups.  David Pollock, the President of the Carleton Group, enjoys sharing his journey with others and would love to hear about yours.  He can be reached at (805) 390-9374 or dave@thecarletongroup.com.