Understanding the market & the growth strategy that best fits it
Once we’ve gained a deep understanding of your needs, challenges, and context during the Discovery phase
, we move on to develop your innovation strategy.
This stage involves 3 key steps:
Throughout the Innovation Strategy phase, we identify the key assets we can leverage to make the biggest impact according to your growth objective.
When it comes to practical aspects, we:
- Outline the “territory”, the extent of the playing field
- Prioritize needs so we can focus our efforts on the most burning issues
- Define the core impact area and also pinpoint secondary areas that benefit from the results of the work we do together.
Next, we build an internal program that makes efficient use of your resources to achieve fast progress. This often involves using what you already have but in new, more powerful ways.
- Financial investment
- Time-costs, both direct and indirect
- Opportunity cost - impact on other priorities
When you work with us to make innovation a core part of your business strategy, you don’t have to put your company on hold. Our methods are lean and tailored to help you achieve results without pausing ongoing projects.
That is why we always do an estimation of the initial investment. This assessment includes both direct and indirect cost while also touching on opportunity costs associated with the innovation program.
Even though innovation is unpredictable, we firmly believe in factoring in predictability for the overall business impact of the program. Email us to start
What gets measured gets done. This famous saying is a practical business reality we bring to every single innovation strategy we develop.
To do it, we work together to:
- Set up SMART objectives that everyone involved will know
- Define objectives in stages so we can produce results at each stage
- Clarify both direct and indirect ROI expectations.
The last step in building your Innovation Strategy is to get a strong grasp of your:
Innovate for growth
- Organizational blockers (workflows, people, policies, industry limitations, legislation, legal boundaries, etc.) and
- Risks, ranking them according to their potential impact.