Innovation isn’t a luxury—it’s a lifeline. I’ve seen it spark $5M in new revenue at AIG and fuel 12% efficiency gains at Consultgenix. But here’s the catch: It doesn’t happen by throwing money at ideas. With over 20+ years in finance and consulting, I’ve learned that strategic resource allocation is the key to accelerating business innovation. It’s about putting your time, people, and cash where they’ll ignite real change. Let’s explore how to make innovation thrive because standing still isn’t an option in today’s race.
Why Innovation Needs a Plan
Ideas are cheap—execution’s priceless. I’ve been in rooms at PepsiCo where brilliant concepts died for lack of focus, and at AIG where targeted bets—like new products—paid off big. Innovation without a plan is chaos; with one, it’s a driver.
At Kemper, I cut $55M in costs by reallocating resources to high-impact areas—freeing up space for fresh thinking. Strategic allocation isn’t about starving one part of your business but feeding what grows it. That’s how you stay ahead.
The Role of Resources in Fueling Change
Resources—money, talent, time—are your innovation ammo. Misuse them, and you’re stalled. At AIG, managing $900M in premiums, I saw how shifting capital to product development delivered $5M in revenue. At Consultgenix, reallocating team efforts to data-driven processes hit that 12% efficiency mark.
It’s a balancing act: Fund the new without breaking the now. I’ve juggled this since Lehman—knowing where to lean in and where to pull back is the art of it.
A Real-World Win: $5M in New Revenue at AIG
Let’s step back to 2012–2018 at AIG. I was a Senior Account Executive in the LAC region, leading a team of nine. Clients were asking for more—better products and simpler solutions. We had the ideas but not the bandwidth—ops were stretched, budgets tight.
I pushed for a shift. We analyzed data (Tableau was key), saw the demand, and reallocated resources—cutting marketing fluff and redirecting funds to R&D. The result? New products added $5M in top-line revenue, plus 18% retention gains. It wasn’t a fluke—it was strategy. Allocation turns vision into value.
Tools to Allocate Smarter
I’m a tools guy—because they sharpen decisions. At Kemper, Power BI showed us where costs bloated—$35M saved. At AIG, Oracle Hyperion tracked capital flow, cutting $40M in debt.
Here’s what I lean on:
- Analytics: Power BI or Sisense—I’ve used both to spot priorities.
- Budgeting: Workday or Anaplan—Consultgenix clients rely on these for precision.
- Planning: Vena or SAP—I’ve forecasted with them since Pernod Ricard.
The trick? Use data to see what’s working, then double down. Tools don’t decide; they inform.
Steps to Allocate Resources for Innovation
Ready to spark change? Here’s my playbook, refined from PwC to now:
- Spot the Opportunity: Where’s the gap? At AIG, it was products—$5M proved it.
- Audit Your Resources: Cash, people, time—I’ve mapped this with SAP since PwC.
- Prioritize Ruthlessly: Fund what moves the needle. Kemper’s $35M cut taught me this.
- Test and Learn: Small bets first—Consultgenix’s 12% efficiency started there.
- Scale the Winners: Reinvest in what works. AIG’s $20M EBITDA bump came from this.
This isn’t guesswork—it’s what I’ve done. Strategic allocation turns ideas into impact.
The Human Side of Innovation
Let’s get real: Innovation’s about people, not just projects. I’ll never forget an AIG rep who said, “Derrek, this new product’s a game-changer—I’m proud to sell it.” That $5M win wasn’t just revenue—it was morale. Or a Consultgenix client who beamed when efficiency hit 12%—“You gave us room to dream,” he said.
That’s what fuels me. I’ve led nine reps to 16% sales growth and 30+ to a $54M turnaround—every time, allocation empowered them. It’s not about spreadsheets—it’s about possibility.
Why This Matters Now
Innovation isn’t optional—it’s oxygen. I’ve navigated recessions at Lehman and booms at AIG. Today, with tech racing and customers demanding more, you can’t coast. Waste resources, and you’re outpaced; allocate smartly, and you’re leading.
Think about your business. Could a shift unlock your next breakthrough? That’s where management consulting shines—turning resources into results.
Let’s Ignite Your Innovation
Accelerating innovation with strategic resource allocation isn’t a pipe dream—it’s a process. With decades in management consulting, I’ve helped businesses prioritize and prosper. At Consultgenix, we’re all about making innovation work for you and your future.
If you’re ready to allocate resources for real impact, I’d love to chat. Reach out at derrek@consultgenix.com to discuss your strategy. Let’s turn your ideas into growth—together.