Higher Success rates for your innovations with Business Innovation
Too many innovations fail because they don't solve a client’s issue or because the client does not wish to spend money on it. Business Innovation is an agile framework based on the ideas from Ash Maurya with which enterprises want to release products in half the time and at half the cost. General Electric pursues this goal. Which is why in 2014 they decided to train 40'000 of their over 300'000 employees in its implementation. The interactive approach helps with the decision to continue (persevere), adjust business models (pivot) or to abandon (quit).
Instead of the usual writing of a static business plan over weeks, the mixed teams in marketing and F&E can develop a business model with a Lean Canvas from Ash Maurya in hours. This allows for the first part of the time and cost savings. With this document, teams can illustrate their assumptions of a business model on one page (canvas) in 9 blocks. The team prioritises the 9 assumptions according to risk, develops experiments and conducts them with the client from the start to get to the facts. The Canvas is updated weekly on the basis of these facts. The focus is in finding the client's problem. The team begins, as soon as the client's problem is confirmed, to develop a minimal viable product (MVP) for Early Adopters. MVP's also include sketches, schemes, landing pages or videos instead of executable software, mockups in wood etc. This allows for the second part of the time and cost savings. The team then holds a solution interview with at least 5 Early Adopters. We are able to offer better pricing than conventional market research since we can draw about 80% results from the 5 interviews. This allows for the third part of the time and cost savings. The teams can improve their solution step by step with every further result, until they are sure to have a product which customers need and pay for. Once this is the case, we have found a product market fit and can start scaling.
For this service package we work together with investors, start-up founders, the management of corporations, development departments and product managers of established enterprises.