Identifying opportunities is at the heart of what makes businesses grow and become successful.
It requires an entrepreneurial approach but often encounters internal barriers that can stop ideas from making it into the marketplace.
Innovation is recognized as critical for long term customer loyalty and sustainable growth of the company but it is still much less understood as a professional business discipline.
We help clients by embedding processes for identifying opportunities and turn ideas into successful products, services and businesses. Our approach is to view innovation in three distinct stages, i.e. discovery, opportunity, and realization that helps clients to:
Develop deep insights from multiple perspectives through a system of so-called lenses
Identify a large set of ideas from these insights in our innovation labs
Turn these ideas into a portfolio of actionable growth platforms
Develop business concepts and solutions that can be pitched for further investments
Reduce risk and test market viability through small scale experiments
Accelerate and scale ideas that have demonstrated their potential
We have supported hundreds of clients in a wide range of industries across the world with our approaches.
Our methods, techniques and tools are grounded in the academic work of Prof. Gary Hamel and further refined based on our more than 10 years of experience.
Discovery – identifying opportunities
Identifying new opportunities works better if people are engaged with the right stimulus from the outset. The Discovery stage is characterized by learning and development of deep insights that lead to ideas.
Insights are used to drive idea generation. Our innovation labs are dynamic, interactive and highly engaging events for participants and the insights help them to generate hundreds of ideas. Our “online crashing tool” allows participants to select insights and submit ideas.
Ideas can come from anywhere and we use digital platforms to engage employees in innovation challenges and campaigns.
Opportunity – a portfolio of growth platforms
Ideas can range from big to small and from new to the world to new to your business. Ideas by themselves can be acted upon, but synthesizing them into bigger opportunity domains or growth platforms create a much stronger business proposition. Building platforms for growth helps companies focus on longer term goals while, at the same time, allowing companies to start work on ideas that will generate immediate results for the business.
Realization – bringing ideas to market
Often ideas look great on paper but include our ‘hidden’ assumptions that can jeopardize success if we fail to test their validity. Our “agile commercialization” framework addresses this issue in a systematic way. We develop ideas into products, services, and entirely new businesses by using this highly adaptive and iterative approach centered around business model innovation, experimentation, launch and scale up.
Define the business model for our idea, e.g. value proposition, operating and economic model, customer experience etc.
Identify assumptions in our design that increase the overall risk
Design and run small scale experiments that test our critical assumptions
Test, learn and adapt our design to remove these uncertainties before we launch and scale up
Contact us if you’d like to know more about our approach to opportunity identification.