The document outlines key insights into innovation, revealing that a majority of startups and new products fail, emphasizing the importance of culture, design thinking, and business model innovation. It discusses a spectrum of innovation methods and provides a strategic approach to product development through customer research and validation stages. Additionally, it highlights the significance of teamwork and effective communication in overcoming challenges in product design.

1. 11 IMPORTANT TRUTHS ABOUT HOW
INNOVATION REALLY WORKS
Mike Parsons
Chief Innovation Officer
QUALITANCE

2. 1997
Things I wish I had know in

3. INNOVATION IS IMPOSSIBLE. (ALMOST)

4. 75 PERCENT OF
VENTURE-BACKED
STARTUPS FAIL.
Shikhar Ghosh, HBS
30,000 NEW
PRODUCTS EVERY
YEAR, 95% FAIL.
Clayton Christensen, HBS

5. INNOVATION IS EVERYWHERE

6. PEOPLE
CULTURE, STRUCTURE, LEADERSHIP
EG. ALL BLACKS, ZAPPOS, SOUTHWEST
PROMOTION
UBIQUITY AND STORYTELLING
EG. NIKE, DOVE, HERSHEY'S
PRODUCT
DESIGN THINKING
EG. AIRBNB, APPLE, DYSON
PROFIT
BUSINESS MODEL INNOVATION
EG. GOOGLE, ROLLS ROYCE, XEROX

7. YOU CAN INNOVATE ON A SPECTRUM

8. SYSTEMEXPERIENCE PRODUCT
Marketing: Nike Campaign
Sales: Store of the future
Service: Genius Bar
Convenience: Soap
Shopping: Furniture
Speciality: Lamborghini
Unsought: Funeral
Direct: Telephone
2 Sided: Tinder or Etsy
Data: Waze
Tech: BitTorrent
Social: Currency & Religion
THE INNOVATION SPECTRUM

9. THE DESIGN SECRET THAT CAN MAKE
YOUR PRODUCT SUCCESSFUL

10. DESIGN THINKING
DESIRABILITY
VALUE PROPOSITION
FEASABILITY
COSTS VERSUS
REVENUES
VIABILITY
MINIMUM VIABLE
PRODUCT

11. THE SECRET TO BUILDING AN AWESOME
PRODUCT AND HOW TO START NOW

12. STEP 1
WEB-BASED SURVEY
(QUANTITATIVE RESEARCH)
WHAT ARE THEIR MOTIVATIONS?
WHAT EMOTIONS SURROUND THE
PROBLEM AND SOLUTION?
WHAT ARE THE 'JOBS TO BE DONE'?
STEP 2:
CUSTOMER INTERVIEWS
(QUALITATIVE RESEARCH)
WHAT CAUSES FRUSTRATION?
WHAT WOULD MAKE THEM HAPPY?
WHAT WOULD RELIEVE THE PAINS AND
CREATE THE GAINS?

13. THREE WAYS TO AVOID BUILDING
CRAPPY PRODUCTS

14. STIMULUS
USER JOURNEY TIMELINES
POSTERS
SCRIPTS
DIAGNOSTIC
SHADOW OBSERVATIONS
ROLE PLAY
CARD SORTING
EXPERIENCE
SINGLE FEATURES
ONBOARDING
PRODUCTS
RAPID PROTOTYPING

15. THE PRODUCT DEVELOPMENT
STRATEGY THAT WILL HELP YOU AVOID
CATASTROPHE

16. STAGE EXPERTISE FOCUS AREA TOOLS
USER
TYPES
MENTALITY
1 Problem Solution Fit
User
Experience
User Pains and
Gains
Prototypes & Value Proposition
Canvas
Recruits Discovery
2. Product Market Fit
Product
Management
Viability
Minimum Viable Product and
Lean Canvas
Early
Adopters
Validation
3. Distribution Conversion Fit Marketing
Traction and
Profitability
Paid, Earned, Own Media
Mass
Audience
Growth

17. HOW TO OVERCOME THE BIGGEST
CUSTOMER PROBLEM IN PRODUCT
DESIGN

18. HOW MUCH IS THE MUG WORTH?
$2.87 - BUYER
DOESN'T OWN THE MUG
$7.12 - SELLER
WHO OWNS THE MUG
THE ENDOWMENT EFFECT
(LOSS AVERSION & STATUS QUO BIAS)
THE SAME COFFEE MUG, SAME QUESTION, TWO DIFFERENT PEOPLE

19. AVOID CREATING A PRODUCT THAT
NOBODY WANTS

20. THE POWER OF 10X
PROBLEM
MAKE IT BIG
AND MEANINGFUL
TECHNOLOGY
EMERGING AND
SCALABLE
SOLUTION
RADICAL AND
ORGINAL

21. HOW TO FUEL TEAMWORK WHEN
FACING THE IMPOSSIBLE

22. COMMUNICATE
TRANSPARENCY, TRUST,
CONFLICT RESOLUTION
COLLABORATE
TAKE RISKS,
DREAM BIG
COMIT
ACCOUNTABLITY,
RESULTS FOCUSSED
3C’S
TO MAKE A
DREAMTEAM

23. THANK YOU
Mike Parsons
Chief Innovation Officer
QUALITANCE