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Case study - how to be more effective at new product innovation

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Case study: How to be more effective at new product innovation.

I run this project for the big, global mass media company. We proved startups can save $385,000 of R&D spendings and deliver results 7x faster.

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Case study - how to be more effective at new product innovation

  1. 1. Case study: How to be more effective at new product innovation.
  2. 2. Limitations • I have an old, commoditized product. • My competition is squeezing me. • I need more leads or salespeople. • I have ideas, and I could launch a new product, but I don’t know know how to move forward. • My company, IT team, is busy, stuck and expects technical requirements from me.
  3. 3. Case study
  4. 4. Company (my client) • Mass media company. • Cable company which wants to become content company. • Products: TV channels • 7000 people company; global; publicly listed;
  5. 5. How did I start delivering value?
  6. 6. Fly over business models workshop
  7. 7. Fly over business models • Features and technologies make the business model happen. • Margin and P/L is an excellent source for the innovation journey. • Business models simplified. • High-level executives are not interested in technology but money. • No to to PostIts. Yes to prototypes.
  8. 8. 40 startups “competitors”
  9. 9. Big player canvassed
  10. 10. The outcome of “fly over business models workshop”
  11. 11. How to understand Millennials’ motives Are Millennials threat or opportunity Should we use the same business model or invent new one? If so, how should we proceed? Challenges Should we build platform, hire, acquire or build new team?
  12. 12. Limitations • I have an old, commoditized product. • My competition is squeezing me. • I need more leads or salespeople. • I have ideas, and I could launch a new product, but I don’t know know how to move forward. • My company, IT team, is busy, stuck and expects technical requirements from me. Inside Plan Access to customers Executed business model already
  13. 13. Innovate inside with the outsiders.
  14. 14. Scouting and Mining Discovery Brief XrayED Deep Dived Piloted Hand Shaked Challenges defined and “Twitter mode” described Metrics explained Quick scan (quality of investors + funding level + founding team) Lean DD Standardized conversations Comparison Matrix Prototype (scrum) No frontface Private launch No business model No software Business model and software found
  15. 15. What we have found. • Content watching and sharing to split the bill. • Content redistribution by curation. • Content watching patterns (swipe to the point). • Let Millennials prepare the content, buy it from them and air it. • The main thing is free. Behind the scene is priceless.
  16. 16. Prototype. Ship. Measure. • Startups are like pre-made blocks. If you connect them as one platform, the synergy is incredible. • The synergy creates a significant advantage, even if your competitor reaches to one of the startups, it will never discover the secret sauce. • Startups bring the important KPIs which bigger companies find hard to discover (MRR, ARR, #Referrals, expansion MRR, Churn and more)
  17. 17. Startup 1 (business model) Startup 2 (business model) Startup 3 (business model) Startup 4 (business model) New business model executed by larger company
  18. 18. Results please
  19. 19. • You will come up with better (tested and the market proved) ideas when you do open innovation. • Experiment from day one with the customer segment which is important to your company future. • Build fast to build more and kill faster what doesn’t work. • Build with the customer first to eliminate waste. Takeaways
  20. 20. • We cut 18 months from development time delivering 7X improvement over previous internal effort. • We had less internal resource involved: 4 senior managers/directors 1 day a week for 100 days. • We delivered £365,000 in savings to R&D budget vs previous efforts, allowing the customer to do more for less per £ of R&D. Numbers and money
  21. 21. Thank you www.arekskuza.com facebook.com/mrskuza youtube.com/mrskuza slideshare.net/mrskuza

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