The Challenge

Diversification of income through building commercial revenue was outlined as a strategic priority for Macmillan. Whilst there was an exciting ambition and energy internally for this, the team was aware of a number of questions and challenges to work through. 

We were challenged with defining the commercial strategy, upskilling the team to adopt a more commercial mindset and working through the practicalities of building and running a commercial innovation team. 

The Solution

Given the emergent nature of commercial income in the sector, we started by reviewing all the possible commercial models that were in scope by reviewing their possible benefits and limitations. 

Engaging key stakeholders across Macmillan from the start was key to understand willingness, opportunities and challenges to this work. 

We financially modelled a range of scenarios by testing assumptions and diving into their implications - financial, operational, cultural. 

Understanding commercial models in a sector with little experience of this is difficult without bringing this to life. So we also thought through the practicalities of delivering this and the support structures required to set this team up for success - including everything from terminology, culture, governance, org design, speed and cadence and tools. 

To ensure the strategy wasn’t created without the core team delivering the work, we upskilled the core team to adopt a more commercial mindset and provided clarity on how commercial opportunities are developed, funded and then taken to market.

The Impact

A clear understanding of what commercialisation means for Macmmillan, including area of focus and what it will take both now and in the longer term.

A common understanding of this space, both around language and methodology. 

Confidence in what it will take to make this work, including the investment required, the capabilities needed within and outside of the team, and clarity on how the organisation needs to support.