The Four Business Opportunity Search Zones
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By the end of this presentation, you will be able to: Identify four specific Business Opportunity Search Zones where good business ideas may be found,
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The Four Business Opportunity Search Zones
- 1. Innovation made easy.1 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved1 Where to find good business ideas for established organizations The Four Business Opportunity Search Zones™
- 2. Innovation made easy.2 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved2 What Makes a Good Idea Good? Following are the five categories of criteria that organization’s typically use to assess a business idea: 1. Mission Alignment Does this project feel like a fit with who we are and what we do? 2. Financial Appeal Does this project present an attractive financial opportunity? 3. Mojo Alignment Does this project align with our core competencies & resources? 4. Quality of the Market Is this a big, growing, exciting market opportunity? 5. Quality of the Model Do we have the right model for addressing this market?
- 3. Innovation made easy.3 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved3 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT Each of of your organization’s product / service categories exist at the intersection of a particular customer segment and value proposition. This suggests four possible “Business Opportunity Search Zones”
- 4. Innovation made easy.4 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved4 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT ZONE 1: New value propositions for existing customers If we allow for internal customers, Zone 1 may be divided to form two distinct zones.
- 5. Innovation made easy.5 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved5 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT If we allow for internal customers, Zone 1 may be divided to form two distinct zones Zone 1 New value prop for internal customers Zone 2 New value prop for existing external customers
- 6. Innovation made easy.6 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved6 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT Zone 1 Example Zone 1 New value prop for internal customers Zone 2 New value prop for existing external customers Supplier To Store Supplier To Store
- 7. Innovation made easy.7 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved7 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT Zone 2 Example Zone 1 New value prop for internal customers Zone 2 New value prop for existing external customers
- 8. Innovation made easy.8 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved8 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT ZONE 3: New customer for an existing value proposition Zone 3 Example
- 9. Innovation made easy.9 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved9 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT ZONE 4: New value proposition for a new customer
- 10. Innovation made easy.10 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved10 Where to Find Good Ideas Current Business VALUEPROPOSITION CUSTOMER SEGMENT ZONE 4: New value proposition for a new customer Corundum 3M’s first product 3M’s second product Zone 4 Example
- 11. Innovation made easy.11 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved11 Business Opportunity Map Current Business VALUEPROPOSITION CUSTOMER SEGMENT Zone 1 1 New value propositions for internal customers Zone 2 2 New value propositions for existing customers Zone 3 3 New customers for existing value propositions Zone 4 4 New value propositions for new customers
- 12. Innovation made easy.12 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved12 Risk Lever per Search Zone Current Business VALUEPROPOSITION CUSTOMER SEGMENT Zone 1 Zone 2 Zone 4 Zone 3 Risk Level Lowest Highest
- 13. Innovation made easy.13 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved13 Business Opportunity Map with Risk Current Business VALUEPROPOSITION CUSTOMER SEGMENT Zone 1 1 New value propositions for internal customers Zone 2 2 New value propositions for existing customers Zone 3 3 New customers for existing value propositions Zone 4 4 New value propositions for new customers
- 14. Innovation made easy.14 Copyright © 2016 LaunchPath Innovation, L.L.C. All Rights Reserved14 About LaunchPath • LaunchPath Innovation is on a mission to liberate the innovation potential of America’s workforce • We do this through the design & development of: – Web-based training programs – Web-based innovation management software systems • Check out our newest product, LaunchPath Intrapreneur by visiting: https://launchpath.io/preso/intrapreneur/ • For more information, contact Gray Somerville at info@launchpathinc.com