avalon consulting innovation credentials
DESCRIPTION
Over the last two decades Avalon Consulting has advised clients on Corporate Strategy and Performance Improvement across a wide range of sectors. Avalon has now brought the Inovo process to India and is pioneering Innovation Consulting in the countryTRANSCRIPT
AVALON CONSULTINGNew Delhi Mumbai Chennai
CONFIDENTIAL
2007 © Avalon Consulting. All Rights Reserved
Presentation: September 2008
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AVALON CONSULTING
Innovation consulting firm in Ann Arbor, Michigan founded in 2001
Creators of the Innovation course at the Ross School of Business at University of Michigan
Philosophy focusing on needs and evidence of motivation to buy
Inovo Technologies
Avalon has teamed up with Inovo to bring in Innovation to the Indian
businesses
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AVALON CONSULTING
Innovation is an essential ingredient for success
Solutions Needs & Desires
Uniqueness
Relevance
Ubiquity
Innovations
Customer Needs and desires are
opportunities for value creation.
These are dynamic – change with
time and across geographies
Great solutions that address these
needs and desires might not
remain great tomorrow e.g. Horse
Cart – Car ; Walkman – IPod
For sustained value creation, there
is a need to continuously offer
Unique, Relevant, and Ubiquitous
solutions – This calls for
INNOVATION
Innovative companies are
rewarded more than others –
Apple, Google, Suzlon, etc.
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AVALON CONSULTING
How do you tell a good idea from a
bad one when all you have is the
idea itself?
How do you find new ideas with big
upside, especially if they’ve never
been done before?
How will a new idea do in the
market? Who will want it? Why?
What will the return be?
What decision process do you use
since you can’t measure what hasn’t
been done before?
Toys
Gro
cerie
s
Mu
sic
Airlin
es
Mo
bile
Te
lep
ho
ny
Finan
cial Se
rvices
Co
mp
ute
r H
ardw
are
Co
mp
ute
r So
ftware
Ph
armace
utic
als
VC
In
vestm
en
ts
>1% >2% >2% 2%3% >3% 4% >4%
7.5%
20%
* Source – Doblin group
Historically over 90% of new products and services fail*
Innovation’s Success Rate
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AVALON CONSULTING
Discovery
Design compelling
new offerings
Connect with customers.
Create market pullUnderstand
demand creation
So-So
Failure
Blockbuster
Inc
rea
se
th
e
‘ba
ttin
g a
ve
rag
e’
Determines success here
What you do
here
Ge
t m
ore
‘ho
me
ru
ns
’
CommercializationDevelopment
The Front End Determines Success
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AVALON CONSULTING
Our Innovation offering is a proven Front-End Process that helps discover
new opportunities, create new solutions and model market acceptance
Strategic
Domains
Business
Hypothesis
Ne
w B
us
ine
ss
Offe
ring
sB
usin
ess S
trate
gy
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identifies the
platforms and
strategic areas for
new growth
uncovers numerous
untapped
opportunities
creates new
concepts and
models their
adoption
develops specific
portfolios of offering
options and
implementation
alternatives
reveals the
fundamental types of
customers and their motivations
ADOPTS- Our Innovation Offering
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AVALON CONSULTING
Opportunities
Specific unmet needs and desires that are
potential sources of new value
Customer insight
The different types of customers and what makes
them tick
A portfolio of new options
Specific offerings that satisfy true customer wants
Dynamics of adoption
Insight into why customers will (or will not) adopt a
solution
Business potential
Comparison with alternatives, place in the
ecosystem, revenue possibilities
It delivers solutions that are rooted in customer motivations
Software
Persona Model
New
Solution
Concepts
Existing
Reference
Alternatives
Personas
Perception
Dynamics$
Time
Capture the Mind of
the Customer™
Predict Adoption &
Demand Creation
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AVALON CONSULTING
Results High-potential, business-aligned solution candidates
Insight into Revenue potential and relative adoption time
compared to existing benchmarks
Answer the questions… What products will be attractive & to whom?
Which features are worth developing?
What trade-offs should be made?
Who will buy? Who won’t? Why?
The ADOPTS™ Tool
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AVALON CONSULTING
How different? Based on a well established theory
– A proven methodology for searching ‘impossibly’ large spaces
Taps hidden knowledge
– Wisdom-of-crowds employed at many levels
– Decisions informed by more than ‘a few people in a room’
– Rigorous, structured debate shapes the opportunity (why good?, why bad?)
Once primed, process output is significant and continuous
Distinguishing Features
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AVALON CONSULTING
Agenda
Case Study
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AVALON CONSULTING
The ADOPTS process has give our client, a fortune 50 company, a continuous pipeline of new opportunity ideas, leading to three opportunity assessments
Hypothesis
Cycle = 200
Profile
Cycle=8
Statement
Cycle=50
On-goingOne week
Shallow Dives
One month
Deep Dives
Opportunity
Hypotheses
(1 hr/OH)
Opportunity
Statements
(8hrs/OS)
Opportunity
Profiles
(40 hrs/OP)
3M
arke
t Opp
ortu
nity
Ass
essm
ents
Sub-Domains
Domain
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AVALON CONSULTING
Software Persona
Model
Personas
Perception
Dynamics$
Time
Capture the Mind of the
Customer™
Predict Adoption & Demand
Creation
For the three opportunities distilled for detailed assessment, the suitable solutions are being tested using customer personas - an adoption curve is being developed, the best solution will be identified for development
Opportunity Assessment Stage
New
Solution
Concepts
Existing
Reference
Alternatives
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AVALON CONSULTING
M1 M2 M3 M4 M5 M6
Domain Exploration and Discovery Activity
Opportunity Statements: 2-3 a week
Opportunity Profiles: 2 a month
Assessment: 2-3 months
Assessment: 2-3 months
Assessment: 2-3 months
Yield: 15 – 20%
Yield: 20 – 25%
Yield: 50% Op
tion
s
Develo
pm
ent
Yield: 67%
6 Month Exploration -
200 Opportunity Hypotheses
50 Opportunity Statements
8 Opportunity Profiles
3 AssessmentsOpportunity Hypotheses: 12-18 a week
Typical timelines
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AVALON CONSULTING
Raj Nair or Jaldeep Sodhi or Ryan Lowe
Casa Avalon, 61 Dr. S.S.Rao Road
Parel, Mumbai 400 012 - India
Phone : 91-22- 66191100
Fax : 91-22- 66191122
E-mail : [email protected]
Website : www.consultavalon.com
mumbai
C. Premchand
No. 10, Spur Tank Road, Chetpet, Chennai 600 031
Phone 91-44- 43455 345
Fax : 91-44- 43455 345
E-mail : [email protected]
chennai
Sridhar V.
E-141, Okhla Phase 3
New Delhi 110 020
Phone : 91-11-40516600
Fax : 91-11-40516650
E-mail : [email protected]
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