Companies need focus on their innovation strategy. What does that mean? It means creating an innovation plan to commercialize the results of their R&D. Strategy is a big word, but it all comes down to small practical questions and answers.
These are the core questions to ask:
- What is the problem you are solving? Why?
- Specific customer need. Market size and customer segments.
- What are you doing to solve this problem? Product & Service offering. Prototyping, feasibility and positioning.
- Who gets what? Benefits per cost. Your business model and customer benefits. Investors, staff and partners.
- Who are you up against? Differentiation from competition and alternatives.
- Who are the key persons to make this happen? Team and founders motivation.
- What are your next steps? Organizational alignment for business development and productization.
We can co-create your innovation strategy and help you deliver value. Contact us now to get more info.