Innovation Management - 5 stage approach

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How do you turn your innovative ideas into profitable business? This lecture describes a five phase approach for managing innovation.

Stage 1 - Collect
Stage 2 - Select
Stage 3 - Implement
Stage 4 - Sustain
Stage 5 - Market

Handouts for Rotterdam University - School of Commercial Management Studies

Innovation Management - 5 stage approach

  1. 1. INNOVATION MANAGEMENT GETTING IDEAS TO MARKET IN FIVE STAGES IDEATE SELECT VALIDATE SUSTAIN MARKET 1 2 3 4 5
  2. 2. WHY DO 70% OF INNOVATIONS FAIL?
  3. 3. Innovation: when ideas have sex (Succesful innovation: when ideas create offspring)
  4. 4. What can we learn from these?
  5. 5. Success is 10 percent inspiration and 90 percent perspiration. Thomas Edison
  6. 6. What can we learn from these?
  7. 7. Three things in common ① Clear vision, direction, sense of purpose ② Culture of sharing, learning and transparency ③ A process for managing innovation
  8. 8. TOP DOWN COLLECT SELECT VALIDAT E SUSTA I N MARKET BOTTOM UP 3 5 0 + 1 2 1 2 0 5 5 1 2 5
  9. 9. STAGE 1 IDEATE IDEATE SELECT VALIDATE SUSTAIN MARKET 1 2 3 4 5
  10. 10. “The role of a creative leader is not to have all the ideas; it’s to create a culture where everyone can have ideas and feel that they’re valued” Sir Ken Robinson
  11. 11. All ideas are centrally collected KEY QUESTIONS SUBMIT YOUR IDEA 1. What is your idea? 2. What problem are you solving? 3. Expected benefits? 4. Expected investments? 5. What client would want this?
  12. 12. STAGE 2 SELECT IDEATE SELECT VALIDATE SUSTAIN MARKET 1 2 3 4 5
  13. 13. Cloud scoring by innovation board BIWEEKLY BOARD COMMITTEE SCORE BASED ON ü Complexity and Effort ü Business Bang ü Impact on business model q Kill q Implement q Wait
  14. 14. STAGE 3 IMPLEMENT IDEATE SELECT VAL IDATE SUSTAIN MARKET 1 2 3 4 5
  15. 15. In God we trust. All others must bring data. William Edward Deming
  16. 16. Creating Minimum Viable Products ü Assign a commercial lead ü Follow an agile approach ü Get (potential) customer involved
  17. 17. STAGE 4 SUSTAIN IDEATE SELECT VALIDATE SUSTAIN MARKET 1 2 3 4 5
  18. 18. I hear and I forget. I see and I remember. I do and I understand. Confucius
  19. 19. Making it robust and scaleable Technology q Chosen technology implemented q Chosen technology tested q Chosen technology documented Proposition q Included in price catalogue q Detailed presentation on intranet q One pager summary in sales kit Training q Wiki on intranet q Specialist training q Sales training Ownership q SPOC appointed
  20. 20. STAGE 5 MARKET IDEATE SELECT VALIDATE SUSTAIN MARKET 1 2 3 4 5
  21. 21. Marketing is no longer about the stuff that you make, but about the stories you tell. Seth Godin
  22. 22. Getting attention and creating pull Owned Media q Website (services, blog, newsletter) q Sales presentation sheets q Webcast Sales planning / paid media q Client and prospect hitlists q Speaking engagement q Partner Opportunities Owned Paid Earned Earned Media q External blog q Infographic in social channels q Award nomination
  23. 23. Roundtables, media attention, awards
  24. 24. THAT’S HOW WE TURN 350+ IDEAS INTO 5 NEW PROPOSITIONS
  25. 25. INNOVATION MANAGEMENT GETTING IDEAS TO MARKET IN FIVE STAGES IDEATE SELECT VALIDATE SUSTAIN MARKET 1 2 3 4 5
  26. 26. I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed. Michael Jordan
  27. 27. Lars Crama • 13 years data driven marketing innovation at (international) top organisations • Studied to be a veterinarian… • Rotterdam, Shanghai, Kaapstad and Londen
  28. 28. 2organize • 200 professionals op the cutting edge of marketing and technology • Based in Rotterdam, since 2000 • Part of Oxyma Group https://www.youtube.com/watch?v=vEamA5PIyHo
  29. 29. YOU MIGHT KNOW US FROM…
  30. 30. More information? http://nl.linkedin.com/in/ larscrama/ www.2organize.com

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