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Innovation made easy.1 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved1
Where to find good business ideas for
established organizations
The Four Business Opportunity Search
Zones™
Innovation made easy.2 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved2
What Makes a Good Idea Good?
Following are the five categories of criteria that organization’s typically use to assess a business idea: 1. Mission Alignment
Does this project feel like a fit with who we are and what we do?
2. Financial AppealDoes this project present an attractive financial opportunity?
3. Mojo AlignmentDoes this project align with our core competencies & resources?
4. Quality of the MarketIs this a big, growing, exciting market opportunity?
5. Quality of the ModelDo we have the right model for addressing this market?
Innovation made easy.3 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved3
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
Each of of your organization’s product / service categories exist at the intersection of a particular customer segment and value proposition.
This suggests four possible “Business Opportunity Search Zones”
Innovation made easy.4 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved4
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
ZONE 1:
New value propositions for existing customers
If we allow for internal customers, Zone 1 may be divided to form two distinct zones.
Innovation made easy.5 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved5
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
If we allow for internal customers, Zone 1 may be divided to form two distinct zones
Zone 1New value prop for internal customers
Zone 2New value prop for existing external customers
Innovation made easy.6 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved6
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
Zone 1 Example
Zone 1New value prop for internal customers
Zone 2New value prop for existing external customers
Supplier To Store
Supplier To Store
Innovation made easy.7 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved7
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
Zone 2 Example
Zone 1New value prop for internal customers
Zone 2New value prop for existing external customers
Innovation made easy.8 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved8
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
ZONE 3:
New customer for an existing value proposition
Zone 3 Example
Innovation made easy.9 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved9
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
ZONE 4:
New value proposition for a new customer
Innovation made easy.10 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved10
Where to Find Good Ideas
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
ZONE 4:
New value proposition for a new customer
Corundum
3M’s first product
3M’s second product
Zone 4 Example
Innovation made easy.11 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved11
Business Opportunity Map
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
Zone 1
1New value propositions for internal customers
Zone 22
New value propositions for existing customers
Zone 3
3New customers for existing value propositions
Zone 4
4New value propositions for new customers
Innovation made easy.12 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved12
Risk Lever per Search Zone
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
Zone 1 Zone 2 Zone 4
Zone 3
Risk LevelLowest
Highest
Innovation made easy.13 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved13
Business Opportunity Map with Risk
Current BusinessVALU
E PR
OPO
SITI
ON
CUSTOMER SEGMENT
Zone 1
1New value propositions for internal customers
Zone 22
New value propositions for existing customers
Zone 3
3New customers for existing value propositions
Zone 4
4New value propositions for new customers
Innovation made easy.14 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved14
About LaunchPath
• LaunchPath Innovation is on a mission to liberate the innovation potential of America’s workforce
• We do this through the design & development of:– Web-based training programs– Web-based innovation management software systems
• Check out our newest product, LaunchPath Intrapreneur by visiting:https://launchpath.io/preso/intrapreneur/
• For more information, contact Gray Somerville at [email protected]
