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

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

  • Innovation Rocket program Give your million dollar innovation idea a chance! 1
  • “passionate to discover ‘new horizons’ for innovation ideas, business models and strategic growth opportunities ” Zane Smilga innovation consultant zane.smilga@verhaert.com 2
  • I want my 1 M dollar opportunity? Tomorrow I will organize a brainstorming I need some crazy ideas! I need many smart & creative people! 3
  • 4
  • Kodak first digital camera 5
  • Search engine technology (Robin Li, 1996) Since 1998 6
  • first car (Karl Benz, since 1886) Since 1913 7
  • The art of converting ideas into commercial success highly effective IDEA CONVERSION 25% only 25% of companies are highly effective in converting their valuable ideas into successful products & services Marginally effective IDEA GENERATION Marginally effective highly effective Booz & Company, The 2012 Global Innovation 1000 8
  • WHY? don`t we capture the opportunities if we have great ideas? 9
  • WHY? too busy!!! Which idea has some value? too busy with solving problems of today - ideas stay on the “level of idea” challenging to compare & assess opportunities nobody takes “nogo” decisions, no focus postponing choices no confidence 10 too many uncertainties too many unknowns too different from current business practice
  • 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” 11
  • Platform requirements: how should it work? - ongoing / continuous system within a company to have it available at all times - continuous 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 12
  • INNOVATION ROCKET ROGRAM platform for ideas - example 13
  • Innovation rocket program (spring, 2013) Stage 1 Stage 2 Your product and its users The job-tobe done solution Stage 3 Stage 4 A differentiated value proposition Your new application & business concept Stage 5 Sharpening the value proposition & concept 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 14
  • 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 15
  • Concept building value creating process 16
  • Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Who will care about it? What is it going to be? Tunstall Fonium high Verhaert perceived How big is the size of opportunity? Product/service concept + Explanation and visualization of features and functionalities low •user needs, its significance • the promise of your products DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations 17 Primary function fall detection Services All-in-one device Size Street price Medium to very dependant users RVT market Experience & Convenience soft look body location Consumer Female market Acceptance Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition
  • Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Who will care about it? What is it going to be? Tunstall Fonium high Verhaert perceived How big is the size of opportunity? Product/service concept + Explanation and visualization of features and functionalities low •user needs, its significance • the promise of your products DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations 18 Primary function fall detection Services All-in-one device Size Street price Medium to very dependant users RVT market Experience & Convenience soft look body location Consumer Female market Acceptance Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition
  • Who will care about it? Create new qualities Is there any added value? Is the added value sustainable? Eliminate effects Product innovation is about searching for a positive balance for the buyer / user between advantages and disadvantages. = Customer Perceived Quality 19
  • Researching user needs is complex Toilet Snorkel US Patent 20
  • Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Who will care about it? What is it going to be? Tunstall Fonium high Verhaert perceived How big is the size of opportunity? Product/service concept + Explanation and visualization of features and functionalities low •user needs, its significance • the promise of your products DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations 21 Primary function fall detection Services All-in-one device Size Street price Medium to very dependant users RVT market Experience & Convenience soft look body location Consumer Female market Acceptance Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition
  • 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 22
  • what jobs can you find? 23
  • what jobs can you find? • 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)… 24
  • Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Who will care about it? What is it going to be? Tunstall Fonium high Verhaert perceived How big is the size of opportunity? Product/service concept + Explanation and visualization of features and functionalities low •user needs, its significance • the promise of your products DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations 25 Primary function fall detection Services All-in-one device Size Street price Medium to very dependant users RVT market Experience & Convenience soft look body location Consumer Female market Acceptance Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition
  • What is it going to be? 26
  • Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Who will care about it? What is it going to be? Tunstall Fonium high Verhaert perceived How big is the size of opportunity? Product/service concept + Explanation and visualization of features and functionalities low •user needs, its significance • the promise of your products DESIGN to DESIRE How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations 27 Primary function fall detection Services All-in-one device Size Street price Medium to very dependant users RVT market Experience & Convenience soft look body location Consumer Female market Acceptance Is it going to give a competitive advantage? have a convincing vision on the differentiation compared to competition
  • Is it going to give a competitive advantage? cost leadership competitive advantage differentiation superior value over rivals focus narrow product lines, buyer segments, geographical markets 28
  • Do we understand where advantage might be? Performance sustainable disruptive Source:Christensen Time 29
  • Whose life will it make easier/better? Segmentation vs ‘job-to-be-done’: the basis for new experiences Who will care about it? What is it going to be? Tunstall Fonium high Verhaert perceived How big is the size of opportunity? Product/service concept + Explanation and visualization of features and functionalities low •user needs, its significance • the promise of your products DESIGN to DESIRE Primary function fall detection Services All-in-one device Size Street price Medium to very dependant users RVT market Experience & Convenience soft look body location Consumer Female market Acceptance Is it going to give a competitive advantage? How much profit and revenue will it bring in? calculation of business opportunity: market data, business case and opportunity calculations 30 have a convincing vision on the differentiation compared to competition
  • How much profit and revenue will it bring in? Organizational design 1. Organization of business processes 2. Flow of money, products and services Business case: business opportunity essence: market, customers, competitors, investments, business potential 31 Financial simulations: business finance calculations, alternative options, PL simulation, break even point
  • Choosing among alternative business models Infrastructure management business model Multi sided business model Mass Custom -ization business model Product innovation business model Freemium business model Customer relationship management business model Bait & hook business model Long tail Business model 32 Open Business model
  • 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 33
  • You are welcome to join! 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 34
  • 35
  • 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® 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. 36 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