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- practical tips for your innovation team -
Select & Evaluate Innovative business ideas
by boardofinnovation.com innovation consulting office
flickr cc bjacques
The secrets to
flickr cc bjacques
In this slide deck:
by boardofinnovation.cominnovation consulting office
OK, you had anotherwonderful brainstorm!
But now what?
First of all, makesure everythingis covered with
post-it notes. OK?
First of all, makesure everythingis covered with
post-it notes. OK?
Time to filter ideas!
- practical tips for your innovation team -
Select & Evaluate
by boardofinnovation.cominnovation consulting office
flickr cc bjacques
1.
Innovative business ideas
The secrets to
Just innovate like a DemolitionBefore you started, you knew where to land, right?
image urbanrealms.com
You should define a landing zone upfront!
Before you started, you knew where to land, right?
image urbanrealms.com
Just innovate like a Demolition
Here for sure
Maybe here
Not here!!!
Always set your innovation criteria before your brainstorm,before you even start your innovation project!
• E.g. Target new markets• +15% growth in revenue by year 4• No B2C - we will not pass by our retail partners• ...
Invest a reasonable amount of time to define this list!
image urbanrealms.com
Just innovate like a Demolition
Day 1 in your innovation project: sit together with your management team and draw this grid on a flip-chart.
exercise
Have a quick post-it session to verify if everyone shares the same ambition and if your innovation criteria are reasonable
*Whatever* ZoneIdeas that are too basic,
only incremental.
iPads for our Sales People
exercise
Comfort zonePerfect fit with criteria
everybody happy
Launch ProductX to market Ywith partner Z
Note:Most of the times your criteriawill be too strict resulting inno ideas at all or only a few vague concepts. Don’t worry ;)
Have a quick post-it session to verify if everyone shares the same ambition and if your innovation criteria are reasonable
exercise
Innovation zoneSome will get nervous
about these ideas.
Stop Business Unit X & replacewith digital service
Note:“HQ wont allow this?!”“It will cannibalize our market!”Perfect Questions!
Have a quick post-it session to verify if everyone shares the same ambition and if your innovation criteria are reasonable
exercise
Out of scopeToo complex, not
allowed,...
We should startour own
airline business!
Note:Keep these ideas for inspirationlater on. At this point, you just want to align the criteria with your Mgmt.
Have a quick post-it session to verify if everyone shares the same ambition and if your innovation criteria are reasonable
exercise
- practical tips for your innovation team -
Select & Evaluate
by boardofinnovation.cominnovation consulting office
flickr cc bjacques
2.
Innovative business ideas
The secrets to
50% = Guidelines50% = Gut feeling
flickr cc reid-be
Innovation is like Cooking
50% = Guidelines50% = Gut feeling
flickr cc reid-be
Innovation is like Cooking
Don’t hope to findan exact formula.If (A)x > B = C^2
You can just follow your heartto cluster related topics.
You can just follow your heartto cluster related topics.
Note: Do some dirty filtering based on your criteria. At this stage, that’s good enough.
- practical tips for your innovation team -
Select & Evaluate
by boardofinnovation.cominnovation consulting office
flickr cc bjacques
3.
Innovative business ideas
The secrets to
Make a basic template to elaborate on each interesting concept
E.g.: Short description
E.g. Rate 2 criteria (L,M,H)
Add more info if needed
E.g. Describe customer experience
Note: Just make sure all ideas are captured with the same level of detail when you want to
evaluate. You can’t compare a 1 word Post-it with a Pytchographic like this.
*Format depends on the project & scope.
These templates* can be made digitally as well.
Beware for theI TheBoss Trap
When voting, some people tend to love the ideas of the boss more.
Anonymous voting helps!
- practical tips for your innovation team -
Select & Evaluate
by boardofinnovation.cominnovation consulting office
flickr cc bjacques
4.
The secrets to
Innovative business ideas
Prepare concept cards for your top 10 ideas
It’s an excellent tool to guide discussions with your core innovation team.
Add visuals
What is this concept?
Competitors or related concepts
Benchmark between your concepts
(e.g. Innovation level)
Add emotions in your conclusion.Why do we need to
love this idea?
Describe the (neg.) consequencesof this concept for the company.
(e.g. Fire x amount of people)Biggest obstacles
Summary, why willthis idea Win or Fail?
Check with criteria & fitwith scope.
Exact format will differ depending on the project.
That’s up to you!
Give it a ‘sexy’ namenot CT_04_v1
Use ball park figures to build up
a first business case
Depending on the phase within your innovation project you will need more info in order to evaluate & filter.
Do Your Home Work!
Focus discussions on 2 concepts at the same time.
Note: Humans need reference points. Base your decisions on relative comparisons.
flickr cc billzimmerman
- practical tips for your innovation team -
Select & Evaluate
by boardofinnovation.cominnovation consulting office
flickr cc bjacques
4.
The secrets to
Innovative business ideas
Innovate like American Idol?
Just keep this in mind:
Attracting lots of votes =
future commercial success?
Innovate like American Idol?
Just keep this in mind:
Attracting lots of votes =
future commercial success?
Hell no!
Votes are only indicative. Use more tools & insightsto base your filtering on!
Keep an eye on ‘cute faces’, drivers with a disproportional impact.
exercise
Idea A Idea B Idea C Idea Dcriteria A
criteria B
criteria C
criteria D
Due to internal politics you might be asked for a rational voting approach. Be very careful about this!
exercise
Idea A Idea B Idea C Idea DBrand Awareness 4 7 9 2Revenue potential 3 3 3 6
Market fit 9 8 3 2Tech feasibility 2 4 7 7
Due to internal politics you might be asked for a rational voting approach. Be very careful about this!
Don’t you think that Market Fit should be a 7?
exercise
Idea A Idea B Idea C Idea DBrand Awareness 4 7 9 2Revenue potential 3 3 3 6
Market fit 9 8 3 2Tech feasibility 2 4 7 7
Due to internal politics you might be asked for a rational voting approach. Be very careful about this!
7
Hmm, I don’t know...what about
.... a 7.5?
Don’t you think that Market Fit should be a 7?
exercise
Idea A Idea B Idea C Idea DBrand Awareness 3 4 7 9 2Revenue potential 1 3 3 3 6
Market fit 3 9 8 3 2Tech feasibility 2 2 4 7 7
Due to internal politics you might be asked for a rational voting approach. Be very careful about this!
7
Hmm, I don’t know...what about
.... a 7.5?OK.... hmm
But what if we add Weights to each criterium?
7.5
Don’t you think that Market Fit should be a 7?
Yeah, AwesomeSo sophisticated!
exercise
Idea A Idea B Idea C Idea DBrand Awareness 3 4 7 9 2Revenue potential 1 3 3 3 6
Market fit 3 9 8 3 2Tech feasibility 2 2 4 7 7
Due to internal politics you might be asked for a rational voting approach. Be very careful about this!
77.5
Warning: Don’t get lost in this type of discussions.
exercise
Idea A Idea B Idea C Idea DBrand Awareness L H H LRevenue potential * L L L M
Market fit H H L LTech feasibility L M H H
Due to internal politics you might be asked for a rational voting approach. Be very careful about this!
Warning: Don’t get lost in this type of discussions.
Score Cards are just a guide, nothing more. Keep it plain and simple: Low, Medium & High are just fine!
- practical tips for your innovation team -
Select & Evaluate
by boardofinnovation.cominnovation consulting office
flickr cc bjacques
5.
The secrets to
Innovative business ideas
Innovate with The Joker
Remember, You, the innovation manager,
can always pull the Joker Card
Innovate with The Joker
Remember, You, the innovation manager,
can always pull the Joker Card
You’re the Innovation ExpertIt’s your job to protect precious, fragile ideas!
Save them from corporate conservatism, ignorance, biasses,...
Backup needed?
Our structured innovation process might help you out.
Based on a Hollywood theme to inspire!More info in the slide deck below:
Innovation Training & Courses Our innovation consulting• Business Model Innovation• Methodology, innovation tools• Creativity techniques
• Next gen business models• Better revenue streams• Disruptive & inspiring trends
[email protected] @nickdemey @philderidder
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