From the idea to success - 1 of 7
Learn how to succeed with innovations such as business model and service innovations
The A&O: Preparing well is half the battle
You will also benefit from the following hints and tips from your consultants
From the idea to success - 1 of 7
From the idea via the MVP (minimum viable product) to success with the help of a dedicated panel
On to profitable new services! Get a practical guide in your new seven-part series. Increase your chances of success.
Many routes lead to the destination. Some of them are riskier than necessary - by taking shortcuts through dangerous terrain. Some involve detours or delays. Others end up nowhere. This path will bring you safely forward.
For which situations is the procedure suitable?
- You are dealing with new (digital) business models.
- You are planning new digital services as a classic company.
- You are expanding your portfolio with new digital services.
Part 2 deals with the synchronisation and development of questions. Now it's time for your own panel, to which you direct your questions in episode 3. In the previous part 4, you develop your minimum viable product, which you now present to your panel in part 5.
- Part 2 - Ask the right and important questions
- Part 3 - Create your own panel
- Part 4 - Develop your minimum viable product
- Part 5 - Present your minimum viable product to your panel
- Part 6 - Assess your minimum viable product
- Part 7 - Plan, secure, benefit
Your first step - planning, outlining, arranging
- Customer journey
- Personas
- USP (unique selling proposition)
- Business case
- Competitors
- Unmet needs
- Canvas
- …
If you are faced with the task of creating a new profitable service from an idea, you are bombarded with countless technical terms. This is often accompanied by a perceived, or sometimes just self-imposed, pressure to produce results very quickly.
How does the idea give rise to a concrete product, a business model?
Start with a plan. Outline your approach for yourself. List the necessary steps. In each case, consider how long it will take to achieve a first result.
Important: Create your plan as a file/document. Whether you use classic project management software, a spreadsheet programme or a mind map plays a minor role. The plan ensures that your thoughts are organised. It gives you security in the process. Your document reminds you of important steps and dependencies. You will receive an initial estimate of the results you can expect and by when.
It also makes it much easier to involve other participants in your project.
Consider at least the following activities:
- Outline basic idea
- Develop a hypothesis on benefits
- Create rough calculation
- Understand the situation of the intended target group
- Identify needs based on real people
- Derive minimum viable product
- Get feedback as you move to development
- Describe development path
- Perform free calculation
- Customise product
- Launch
Tip from your consultants:
Dedicate yourself to understanding the situation, the participants and the needs through more knowledge:
- more attention
- more time
- more details.
As a result, you derive your personas much more easily and, above all, more unerringly. Personas, this is the personalisation or description of your different customers, their needs, their situation, their status. At the moment, personas are virtually regarded as an industry standard. The same applies to the unmet needs, the market opportunity1.
Good to know:
- With eisq, experienced pilots are at your side.
- Reach your destination more safely and maximise your results.
- Feel free to use us as a clock generator or sparring partner.
Arrange a free Teams appointment.
1Note:
Many companies often define a market opportunity as a new product. They believe that the real market opportunity is to find a need that their technology or product offerings could meet. But that is a mistake! Market opportunities do not arise because a company has a certain competence or creates something. Market opportunities arise because customers have difficultydoing a job/task. These battles are the market opportunity: success comes from discovering unmet consumer needs and helping them do their jobs more easily. By creating benefits for companies.