Innovation is the creation of new, highly desired value – where desire and value is defined by customers
Given the speed of change in our global and business operating environment we need to adapt and change faster than both our ecosystem and our competitors. A superior ability to manage the speed of change is the main source of our competitive advantage and change is therefore our friend and not our enemy.
Change and adaptation requires innovation; doing and making things that are different and better, not merely different. Not everything that is different is better, but anything that is better is different to before.
Have you ever developed a new and superior technology or a wonderful product that you believed customers would love? BUT –
- you took a long time to develop it and your competitors beat you to market or quickly came up with an improved version of your product,
- you couldn’t find any customers for it,
- you knew who your customers were but they did not buy any or enough of it,
- your customers did not understand its value,
- your customers thought it was too expensive,
- they loved it but you couldn’t produce or deliver it to them at a profit to your business,
- you couldn’t supply as much of the new product as your market wanted.
If that is the case, you may want to know what got you into that situation and how to prevent it from happening in the future.
We provide the materials and tools for you to set up, manage and control your own systematic lean and agile innovation process. This will help your business to deliver measurable value to both your customers and your own bottom line.
Our tools and resources for lean and agile innovation will help you recognize when and how you veer of track, so you can avoid falling into common innovation management pitfalls. Here is a selection from the list of topics that we cover :
- Innovation strategy: Tools and information on how to develop technology and product roadmaps and a strong business and innovation strategy that can be implemented, managed and controlled – without paralysis of analysis.
- Inbound marketing: Steps and tools of secondary and primary inbound marketing and common traps and mistakes made in this process.
- Innovation portfolio management and assessment: Practical portfolio and program management tools to ensure you fund only projects that are within strategy and meet required criteria.
- Requirements development: Practical processes to translate what the market tells you into actionable requirements that can be turned into product/service specifications.
- Concept development: Tools and information for developing strong product, service and business concepts that can be tested in the market.
- Innovation project planning and management: Tools and information for defining, planning and managing innovation and routine projects and identifying the risks and assumptions that are made, to reduce the potential impact of project failures.
- Capability assessment: Steps to assess your own capabilities including people and their skills, facilities and equipment, time and money. Processes of developing higher capabilities, to ensure you have the capabilities to manage a new product/service development project from start through to development, prototyping, manufacturing, distribution to the customer and service in the market without running out of resources.
- Development for function, quality and cost: The process of balancing function, cost and quality so products are not over- or under-developed.
- Managing the development process: Tools and methods for avoiding waste and problems due to functional silos (even in a small company) or outsourcing of development and manufacturing activities.
- Metrics: Essential metrics to help you work out whether you are on track and help you stay on track (lead indicators) and to show you what went wrong after the fact (lag indicators).
Additional topics cover the use of appropriate tools, when and how to use minimum viable products (MVPs), and how to identify and manage risks in an innovation project, amongst others.
To discuss your company’s innovation management needs please contact us directly via an email. We will call you back within 24 hours to ensure your questions are answered by the most appropriate expert.