The Oxford Dictionary defines Innovation as “make changes in something established, especially by introducing new methods, ideas, or products” or “introduce (something new, especially a product)”
Innovation is much more than the “lightbulb moment” when an idea for a new product, service or solution emerges. It is the process of using that idea to create value for customers and society, combined with the process of capturing that value in order to make money for the enterprise. In order to create and capture value, innovation needs to be embedded in strategy, and not just be an add-on whose responsibility is delegated. The fruits of innovation can range from a new product, through new services or business models, all the way to creating new ecosystems and ways of doing business. The innovation process includes the hard work that goes into understanding present and future customer and market demands, and delivering new products, services or business models in a timely way. Identifying which proposed new products or services will work in the market and which will not, and thereby streamlining and focusing your New Product/Service/Solution Development (NPSSD) portfolio is critically important and the benefits of the correct focus on NPSSD are huge. These processes are often poorly understood or implemented and often impede rapid product or service development and more radical innovation.
Over more than 30 years, I have pioneered and driven best practice in innovation and developed highly successful processes for getting the right products or services to market as quickly as possible. As we move through the 21st century, we will see increasing levels of disruption, uncertainty and unpredictability that will challenge how we develop and introduce new solutions for our customers and for the benefit of society. This makes best practice more valuable than ever, and I have set up my own business to share them through a combination of teaching, consulting, writing and blogging.
I can participate in your own innovation process, helping to identify customer needs and where customer value can be created and captured, translating those opportunities directly to development of new technology and/or business models to support the appropriate products or services. Alternatively, I can create and implement effective and efficient bespoke NPSSD project management systems designed to maximise customer value added and optimize the NPSSD portfolio for your company, play the role of independent expert in the Design Review process, challenging fixed mindsets, or review your Intellectual Property (IP) portfolio and landscape and advise on IP strategy and execution.
Contact me if you would like to learn more or improve your innovation strategy and processes.