d[m8ki d[ii:[l[befc[dj...
Post on 30-Jan-2021
0 Views
Preview:
TRANSCRIPT
-
New Business Developmentinnovations with the
highest degree of novelty
FR
OM
VI
SI
ON
TO
MA
RK
ET
SU
CC
ES
S.
Structuring Planning Inventing MarketingLEAD House of Innovation
LEAD Innovation Process
LEAD Innovation Culture
LEAD Agile Innovation Management
LEAD Roadmap
LEAD Transfer
LEAD Trend Scouting
LEAD Digital Innovation
Management System
LEAD Inbound Marketing
LEAD Network
LEAD User Method
LEAD Service Design
LEAD Business Model Innovation
LEAD Innovation Contest
LEAD Design Thinking
LEAD Hackathon
LEAD New Business Development
-
„There are many fantastic ideas. Genuine innovations are only th
ose that succeed in the market. With the LEAD User Method every
company can develop its next successful product. This succeeds
if you find the right experts and bring them into the team: first
and foremost, the users. In the end, they decide on market succe
ss. They are the effective drivers of every innovation. The most cr
eative of them are called LEAD Users."
Michae
l Putz, Managing Partner
LEAD Innovation was founded in 2003, as a spin-off of the
Vienna University of Economics and Business
Administration, by Michael Putz. As the first provider of
the LEAD User Method in German-speaking countries, we
contribute our experience and our extensive network of
inventors to our customers' innovation processes. We
support you in structuring, planning, inventing and
marketing innovations, including open innovation.
-
While at least one area remains unchanged, and thus forms a "secure bank", for the
two types of innovation, market innovation or business model innovation, as well as
classic product innovation and process innovation, everything is new for New
Business Development. The product or service, the underlying processes, the
business model, the market and the customers. In some cases, not even the brand
remains, if, for example, the values of the brand simply do not fit with the new
market.
The type of innovation with the
highest degree of novelty
3
New Business Development is the most complex and risky way to generate new
revenue. It should be possible to generate profits with a new product, or service,
and a new business model in a hitherto unknown market.
In order to tap new sources of revenue, a company has many possibilities. For
example, it can generate new revenues through business model innovation. A new
product or service is offered in a new form to a market that is already known. The
car sharing subsidiaries of well-known car manufacturers are an example of this. A
Swiss dairy farmer, for example, shows that this form of sales increase is also
suitable for smaller farms. Instead of selling the milk, he rents out his cows,
continues to look after them on his farm as before, and offers the tenant the end
product cheese at a preferential price.
In a market innovation, a company tries to transfer its own technologies to new
fields of application in new markets. For example, Uber not only transports people,
but also delivers food in many cities.
Definition of New Business
Development
-
New Business Development4
New Business Development begins by making an initial selection of markets.
Corporate values, guidelines and the company's DNA support this process. They
serve as an orientation and set the focus for the future.
Why New Business Development?
In order to develop innovative solutions as purposefully as possible, a "validation of
problems and needs" should be carried out in advance. To this end, consumers or
LEAD users, from the selected clusters, are asked what their specific problems, and
greatest needs, are. On the basis of this detailed information, a sound decision can
be made as to which of these problems and needs the company would like to
address.
Especially in markets which the company does not yet know, the development of
the solution together with customers - preferably LEAD Users - is an important
element for successful innovations.
Focus, instead of being open to everything
Validate the problem before developing a
solution
Co-creation of the solution with users
With New Business Development you can rely on an important organizational
competence to generate sustainable competitive advantages and to be successful
in the market, in the long term.
Developing new target groups with New
Business Development
-
1. Understanding 3. Developing
2. Generating ideas 4. Testing
Get to know customers DNA
Get an overview of the
challenges, needs and trends on
the market
Identify customer segments and
their problems
Make a well-founded selection of
a customer segment and its
problem
Developing business models
Generating Pretotypes
Feedback loops
Identify LEAD Users from
the customer segment
Generating ideas and
concepts together with
progressive users
Developing Minimal Viable
Products
Checking the pretotypes with Real
Market Tests
Incorporate feedback from
potential customers
At the end of the phase,
presenting at least one pretotype
that has been positively tested on
the market, including a business
model and vision for the customer.
The 4 phases of New Business
Development
5
-
7
After an overview of the challenges and trends in the market, customer segments
and their problems are identified and then a well-founded selection is made.
The target market is divided into numerous segments and clusters in intensive
research work. Depending on potential, size and growth, the most promising
segments are selected in a decision meeting.
Interviews and desk research are used to collect trends in the selected market
segments. An overview of the global megatrends completes the collection of
trends. An analysis of the development and growth of selected market segments is
carried out.
Based on the analysis data, use cases are defined that contain the most promising
relevant problems and user needs. The aim is to find use cases that are still
unoccupied but have a high potential in development.
In addition to the qualitative findings from the interviews, the decision is
made on the basis of quantitative market data such as market size and market
growth.
1. Understanding
Innovations with the highest degree of novelty succeed best in these 4 steps:
The 4 phases of New Business
Development
New Business Development6
-
In this step you identify LEAD Users, i.e. progressive users, and pioneers from the
respective customer segment. Potential LEAD Users submit and collect initial ideas
through an invitation to an Innovation Challenge. After the evaluation of the
invitation to tender, the suitable LEAD Users are selected through further
discussions with the idea providers.
In this phase, LEAD Users are identified and invited to a conference lasting several
days. In order to reach potential LEAD Users, we use our extensive network, which
already includes more than 15,000 experts from various industries.
At the beginning, we contact potential LEAD Users by phone to talk about the
project and the search field.
Especially interesting for the third phase are people who are already presenting
solutions to the problem.
The project manager then meets the potential LEAD Users in their personal
environment. This interview is not only about, whether the interviewee actually has
good ideas, but also the project manager researches whether the person in question
is suitable for the workshops.
Meeting potential LEAD Users in person is also indispensable because it makes the
entire project more binding for them, and the project manager can possibly take
away their fears and ambiguities. This is because LEAD Users do not get a fee for
their cooperation, but only compensation for their expenses.
At the end of the second phase, the potential LEAD Users found will be presented to
you by means of a short profile. This contains the exact description of the LEAD
Users and the ideas they expressed about the search field.
Only then do you select those LEAD Users who will take part in Phase 3, the LEAD
User Conference.
2. Generating ideas
7
-
9
In phase 3, products with minimal functions, so-called "Minimal Viable Products",
will be developed in a LEAD User Conference using different creativity techniques
and business models. The results are "pretotypes" that can be tested directly in the
market in the next phase. The LEAD User Conference lasts several days and takes
place in a conference hotel. Moderators will accompany the conference.
On the first day the group should get to know each other better and generate as
many ideas as possible with the help of various creativity techniques. In the first
step, limiting factors such as price or technical feasibility will be ignored in order
not to restrict creativity. Important: The group must never leave the defined search
field.
At the end of the first day, the entire group tries to cluster all ideas into themes. The
decision as to which topics the group will work on during the second day is also
made at the end of the first day.
On the second day, detailed specifications for the selected topics are worked out in
small groups. The client's project team determines in advance which content
components these documents must have. Typically, such a requirement
specification contains an analysis of strengths and weaknesses, a risk assessment,
information about necessary partnerships with other companies, milestones, etc.
The project team then determines the content of the requirement specifications.
In order to give the projects a "face", a draughtsman accompanies the two-day
conference. This draughtsman has repeatedly proven to be a very good catalyst for
projects. It is a challenge for someone to convey a picture from his head to
someone else, so that he can then put it on paper. Each small group then presents
its solution concept. With the help of an evaluation sheet, each participant of the
LEAD User Conference then votes on each concept presented, on the basis of
various dimensions such as "technical feasibility".
In the last phase the results are tested.
3. Developing
New Business Development8
-
The pretotypes are tested and evaluated with Real Market Tests. As with the
further development of the Minimal Viable Products, feedback from potential
customers is incorporated into the pretotypes until the product is accepted by the
market. The result of the 4th phase is for at least one Pretotype to have tested
positive in the market including the Business Model and Vision.
Following the innovation days, the MVPs will be tested through interviews with furt
her customers from the market. Based on this feedback, the MVP will be successive
ly improved and developed into at least 6 pretotypes in the sense of Build-Measure-
Learn. In addition to the product, the pretype also includes an initial branding conce
pt and the corresponding business model.
In a first step, we select the appropriate test method for each pretotype. Our guidin
g principle is "How can we achieve the best results with the least possible use of res
ources?"
In principle, the more realistic the tests are, the more effective the results in this a
dvanced phase of product development are. To achieve this, most tests are designed
in such a way that the user groups do not notice that it is a test.
So while we actively worked with clients in the preliminary phases, we achieve the
best outcome in this phase if the potential client is not aware of the test situation.
An efficient possibility is, for example, A/B tests, i.e. you create a landing page with t
wo variants and test what is best accepted. In this way pretotype tests with differe
nt features can be done quickly and cost-effectively.
Smoke testing with dummies is another test procedure under very realistic conditio
ns, which offers a high gain of knowledge with at the same time little influence. For
example, we present a dummy product, a video or a concept on a landing page or cro
wdfunding platform (Indiegogo, Kickstarter) and then observe how many people sig
n up for "Keep me updated" or click on "I want to buy XY" - without the finished prod
uct already existing.
The LEAD network is used in the test phase to bring pretotypes to life and to create
the tests.
If required, a usability test can be carried out with beta testers or early adopters.
To ensure market fit, we will work with market research companies to
quantitatively check the concepts in the final phase.
4. Testing
New Business Development10 9
-
New Business Development10
Project plan
New Business Development
-
11
LEAD Innovation is an innovation partner and accompanies companies through
the entire innovation management process. Founded as a spin-off of the Vienna
University of Economics and Business Administration, we have been supporting
our clients in structuring, planning, developing and marketing innovations since
2003.
We started as pioneers of open innovation. Today we offer the entire spectrum
of innovation management.
"Open Innovation brings in the view from the outside, so that one does
not stew in one's own juice.“
Dr. Thomas Brauner,
General Manager PHILIPS Austria GmbH
Further references can be found on www.lead-innovation.com/en/references
With 20 highly motivated employees, we have been supporting companies in a
wide variety of industries for over 15 years. We contribute our experience from
over 300 projects. What makes this so promising is a more than 15,000 people
strong network of experts and knowledge carriers who are integrated into the
innovation process. This network makes it possible to evaluate internal
perspectives externally in an efficient way and to dare to look beyond one's own
nose.
LEAD Innovation is represented with locations in Germany and Austria and
carries out international innovation projects.
LEAD Innovation Management GmbH
Austria: +43 1 929 40 38
Germany: +49 89 2555 7134
www.lead-innovation.com
office@lead-innovation.com
TEAM EXPERIENCE NETWORK INTERNATIONAL
ClientsThis is us
Contact
-
Von der Vision zum Markterfolg -
mit dem Erfindernetzwerk.From vision to market success -
with the inventors network.
Stay curious,
Your LEAD Innovation Team.
www.lead-innovation.com
Definition of the fuzzy front-end,
Definition of innovation and innovation goals,
of product-, process-, service-,
of breakthrough innovations in
creation of the innovation process, increase
the culture of innovation, agile methods
historical analysis, identification of trends, derivation
of strategic search fields
market and business model innovations by means of
Open Innovation
existing and new markets via inbound and outbound
marketing
Structuring
Planning
Inventing
Marketing
top related