One of the most difficult things to do in any business is to keep momentum going in the market place. Your competition is busy trying to get to the next level. Are you keeping pace, or falling behind? Wouldn't it be helpful if you had a go to source in house to work on the innovation and company strategy necessary to keep your firm in a market leadership position?
Let's face it, the world we live in thrives on new intellectual property. The new- improved and advanced featured wins the day. If your product pipeline is not delivering product updates at the end of lifecycle of your existing products, you are at risk of losing market share to the competition.
That's not all, trying to get innovation out in a rushed manner is like trying to bake a cake in half the normal time. It just doesn't work and it drives everyone nuts.
Here is a way to keep your ideas fresh and market ready:
Establish a quarterly product idea council meeting - document what is going right and what is not going so right for your customers.
Brainstorm around the problem areas for your customers and develop at least 50 solutions.
Sketch them out so that the ideas have meaning so that your team can provide feedback on them. They should be quick but clean. Reflect on those ideas together. Narrow your ideas down to the top 5.
Meet 1 week later and discuss the 5 remaining ideas and build on them if needed.
Select the top 2 ideas and prepare the most appropriate one for commercialization.
Document everything as the old ideas you generated may one day be appropriate for use based on the current market.
If you do this regularly, you will never be at a loss for your next product release.
Need a hand with visualizing your ideas or facilitating a meeting? We do that really well.
Reach out to Saubert Design Studios for a free consultation and we will help you get to product innovation readiness.
Best regards,
Mike Saubert
founder, SDS
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