Innovation day 2013 1.4 zane smilga (verhaert) - give your million idea a chance

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  • Larry Page and Sergey Brin, the founders of Google, didn’t invent the search engine technology that got Google started. Robin Li did. In 1996, Li developed the Rankdex site-scoring algorithm for search engine page ranking, based on the idea of ranking websites according to the number of other websites that linked to that site, something similar to citations in scientific articles.
    http://www.siliconafrica.com/entrepreneurship-is-not-about-innovation-but-commercialization/
  • http://www.personal.psu.edu/ncm5037/Group7/1863.html
  • http://www.booz.com/media/file/BoozCo_The-2012-Global-Innovation-1000-Media-Report.pdf

    - strong correlation between effectiveness of FFE and superior financial performance (revenue, market, profit growth)


    many companies have yet to master the right mix of factors to foster sustained innovation


    Most of the 25 percent of survey respondents who said their companies were highly effective at both ideation and conversion also reported that they outperformed their peers on three important financial measures—revenue growth, market cap growth, and EBITDA as a percentage of revenue.

    • This correlation between effectiveness at the early stages of innovation and superior financial performance is a worrisome finding for the many companies that struggle at the front end.

  • Too busy with thinkging about today`s problems. No time to think about the future.
    Postponing choices. People don’t know how to deal with break through ideas. Unclear, takes, times
    Dog picture: there is something in it, but I am not able to identify the interest and do not know what to do with it
    No confidence leads to killing the project.
  • Tightly schedulled repeatitive thing
    At least 2 people from a company

    To define the platform: what is it
    What are the requirements of the platform
    Looking for a value


    To bring stone to diamond
    Involve people: engaging ( funding, time, commitment, motivation)+ buy in of everyone

  • engaging all the internal stakeholders and idea owners (motivation, time, ownership)
  • Linking back to the requirements of the platform

    In the beginning they start with a pitch, end with a pitch
    We work with canvas
    We help you to undersatnd, give you triggers
    We give you predefined missions
    We give you homework
    We activate you on theareas you are a bit unaware


    Two fold ambition: Learning + doing very well on your own case
    Focus is on getting a good output (but not on training)
  • Two fold ambition: Learning + doing very well on your own case
    Focus is on getting a good output (but not on training)
    ____
    Add picture with people working around the table
    What`s the difference between boothcamp and rocket program?
    Boothcamps go over longer period, learning track (include trainings of building skills): they have more intensive trainings; Boothcamps are connected to external venture programs (outside core business)
    Rocket program: we focus on product. We focus on pull marketing – developing something attractive


  • Ambition to explain the stages and what was done in each.
  • Ambition to explain the stages and what was done in each.
  • Ambition to explain the stages and what was done in each.
  • Ambition to explain the stages and what was done in each.
  • Ambition to explain the stages and what was done in each.
  • Ambition to explain the stages and what was done in each.
  • Innovation day 2013 1.4 zane smilga (verhaert) - give your million idea a chance

    1. 1. 2 Innovation Rocket program Give your million dollar innovation idea a chance! CONFIDENTI AL Zane Smilga Innovation consultant zane.smilga@verhaert.com THEME 1 : STRUCTURED EXPLORATION IN THE FRONT END OF INNOVATION
    2. 2. 3 Zane Sm zane.smilga@verhaert.com innovation consultant “passionate to discover ‘new horizons’ for innovation ideas, business models and strategic growth opportunities ”
    3. 3. 4 Tomorrow I will organize a brainstorming I need some crazy ideas! I need many smart & creative people! I want my 1 M dollar opportunity?
    4. 4. 5
    5. 5. 6 Kodak first digital camera
    6. 6. 7 Search engine technology (Robin Li, 1996) Since 1998
    7. 7. 8 first car (Karl Benz, since 1886) Since 1913
    8. 8. 9 The art of converting ideas into commercial success Booz & Company, The 2012 Global Innovation 1000 IDEA GENERATION IDEACONVERSION highly effective Marginally effective Marginally effective highly effective 25% only 25% of companies are highly effective in converting their valuable ideas into successful products & services
    9. 9. 10 don`t we capture the opportunities if we have great ideas? WHY?
    10. 10. 11 too busy with solving problems of today - ideas stay on the “level of idea” too busy!!! challenging to compare & assess opportunities Which idea has some value? nobody takes “no- go” decisions, no focus postponing choices WHY? too many uncertainties - too many unknowns too different from current business practiceno confidence
    11. 11. 12 Innovators need a platform to build a value for their raw ideas - to search for a value developing the idea further into a value proposition (for customers, users, market, company) - to build a product & business concept developing a concepts around ideas to size the opportunity, to assess and compare to other opportunities “Turning rough stone into a shiny diamond”
    12. 12. 13 Platform requirements: how should it work? - ongoing / continuous system within a company to have it available at all times - resource commitment from management team to make it happen! - engaging all the internal stakeholders and idea owners to create a runway! - structured process to be able to make decisions and prioritize - concept building tools and templates to create right content and be able to compare continuous
    13. 13. 14 INNOVATION ROCKET ROGRAM platform for ideas - example
    14. 14. 15 Innovation rocket program Your product and its users The job-to- be done solution A differentiated value proposition Your new application & business concept Sharpening the value proposition & concept Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Everyone had an idea for a new product or service Learning about theories, concepts, tools Applying them to sharpen and develop the ideas further into concepts (spring, 2013)
    15. 15. 16 Rules of the game Program with theory and coaching - Input on theory and brief exercises and reflections - Working and coaching workshops (development ideas further into concepts) Working and coaching workshops are in breakout sessions - No debriefing among the groups on results - Some debriefing among participants on how did it go with using the tools and exercise frameworks Homework in between stages
    16. 16. 17 Concept building value creating process
    17. 17. 18 How big is the size of opportunity? Who will care about it? •user needs, its significance • the promise of your products Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition lowhigh Primary function fall detection All-in-one device Services Female Acceptance Experience & soft look perceived Size Convenience body location Street price RVT market Medium to very dependant users Consumer market Tunstall Fonium Verhaert What is it going to be? Product/service concept + Explanation and visualization of features and functionalities DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations
    18. 18. 19 How big is the size of opportunity? Who will care about it? •user needs, its significance • the promise of your products Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition lowhigh Primary function fall detection All-in-one device Services Female Acceptance Experience & soft look perceived Size Convenience body location Street price RVT market Medium to very dependant users Consumer market Tunstall Fonium Verhaert What is it going to be? Product/service concept + Explanation and visualization of features and functionalities DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations
    19. 19. 20 Who will care about it? Is there any added value? Is the added value sustainable? Create new qualities Eliminate effects Product innovation is about searching for a positive balance for the buyer / user between advantages and disadvantages. = Customer Perceived Quality
    20. 20. 21 Researching user needs is complex Toilet Snorkel US Patent
    21. 21. 22 How big is the size of opportunity? Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition lowhigh Primary function fall detection All-in-one device Services Female Acceptance Experience & soft look perceived Size Convenience body location Street price RVT market Medium to very dependant users Consumer market Tunstall Fonium Verhaert What is it going to be? Product/service concept + Explanation and visualization of features and functionalities DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations Who will care about it? •user needs, its significance • the promise of your products
    22. 22. 23 Whose life will it make easier/better? customers DO NOT BUY products or services they hire various solutions at various times to get different jobs done
    23. 23. 24 what jobs can you find?
    24. 24. 25 • to wash your body • to relax • to release stress • to get a massage after sports (to release muscle tension) • rehabilitation of injuries (athletic & sports whirlpool tub) • health maintenance (water therapy, massage) • to bond & party with friends(jacuzzi) • to have a romantic experience • to play (kids) • to give birth (water-birth)… what jobs can you find?
    25. 25. 26 How big is the size of opportunity? Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition lowhigh Primary function fall detection All-in-one device Services Female Acceptance Experience & soft look perceived Size Convenience body location Street price RVT market Medium to very dependant users Consumer market Tunstall Fonium Verhaert What is it going to be? Product/service concept + Explanation and visualization of features and functionalities DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations Who will care about it? •user needs, its significance • the promise of your products
    26. 26. 27 What is it going to be?
    27. 27. 28 How big is the size of opportunity? Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition lowhigh Primary function fall detection All-in-one device Services Female Acceptance Experience & soft look perceived Size Convenience body location Street price RVT market Medium to very dependant users Consumer market Tunstall Fonium Verhaert What is it going to be? Product/service concept + Explanation and visualization of features and functionalities DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations Who will care about it? •user needs, its significance • the promise of your products
    28. 28. 29 Is it going to give a competitive advantage? competitive advantage superior value over rivals cost leadership differentiation focus narrow product lines, buyer segments, geographical markets
    29. 29. 30 Do we understand where advantage might be? Performance sustainable disruptive TimeSource:Christensen
    30. 30. 31 How big is the size of opportunity? Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition lowhigh Primary function fall detection All-in-one device Services Female Acceptance Experience & soft look perceived Size Convenience body location Street price RVT market Medium to very dependant users Consumer market Tunstall Fonium Verhaert What is it going to be? Product/service concept + Explanation and visualization of features and functionalities DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations Who will care about it? •user needs, its significance • the promise of your products
    31. 31. 32 How much profit and revenue will it bring in? Business case: business opportunity essence: market, customers, competitors, investments, business potential Financial simulations: business finance calculations, alternative options, PL simulation, break even point Organizational design 1. Organization of business processes 2. Flow of money, products and services
    32. 32. 33 Long tail Business model Open Business model Freemium business model Multi sided business model Bait & hook business model Choosing among Mass Custom -ization business model Infrastructure management business model Product innovation business model Customer relationship management business model alternative business models
    33. 33. 34 Learning from Innovation Rocket program How did it work? - Ideas can change radically during the program - Program requires effort also outside the program sessions (output depends on invested effort) - It requires systematic participation - It is best if you participate with a team (min.2 people) - External view and coaching adds value to the process - Follow up process after the program is critical for brining it forward
    34. 34. 35 WHEN? Verhaert runs the “Innovation Rocket program” on systematic basis Program 2014: mid March – end of June WHO CAN PARTICIPATE? Any company/team looking for a FFE platform for their ideas to build value and understand the business opportunity You are welcome to join!
    35. 35. 36
    36. 36. 37 VERHAERT MASTERS IN INNOVATION® Headquarters Hogenakkerhoekstraat 21 9150 Kruibeke (B) tel +32 (0)3 250 19 00 fax +32 (0)3 254 10 08 ezine@verhaert.com More at www.verhaert.com VERHAERT MASTERS IN INNOVATION® Netherlands ESIC European Space Innovation Centre Kapteynstraat 1 2201 BB Noordwijk (NL) Tel: +31 (0)618 12 19 19 derk.schneemann@verhaert.com More at www.verhaert.com MASTERS IN INNOVATION® is a platform set up by VERHAERT to train, stimulate and incubate you as an innovator. We provide an extensive training program with different tracks and covering critical areas of new products and business innovation. Furthermore we manage the VERHAERT venturing program and organize our Innovation Day, an annual conference on best practices and insights on new products & business innovation.

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