Finding, evaluating and deciding on potential for innovation is not always easy. Whether it’s a new market or a domestic industry, defining and exploring search fields in a structured way reduces risks. Develop only what the market really needs and pays for.
Before making great efforts for innovation, you want to be sure that the result will hit the market. This is what fields for innovation do.
Contacts are worth their weight in gold. Especially for innovation. Stop torturing yourself with frustrating cold calling and exhaustive B2B networking.
1000 ideas – no innovation? When everyone is lost in the day-to-day business and the unique position in the market fails to materialize.
“Innovation? Show me the business case first!” Get business case & argumentation for your future success.
Questions, answers and support in specific cases. Innovation coaching helps anyone who is looking for flexible orientation, sparring and individual support in the innovation process rather than major support.
Together we find opportunities for innovation on the market. Suitable for your company. With validated sales opportunities.
First innovations in partnership with your company. Prototype, business case and implementation included.
A successful approach needs to be repeated. Other divisions are following suit. A culture of innovation emerges.
Innovation is persuasion. Many people first have to be convinced that innovation can be learned, that creativity is not a mysterious character trait and that everyone is capable of developing patent-ready solutions. Because mountains can only be moved when many people pull together. White papers are a good means of persuasion. They are free of charge, practically oriented and can be read by anyone without any entry barriers.
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Even the best product cannot sustain a company forever. New products, new markets and new business areas are in demand. As diversification and additions to the existing business. Or as a replacement if there is no long-term future in the existing business. Recognizing the right potential for innovation and new markets is an important first step.
The development of ideas in companies can be hindered in various ways. Here are four key challenges:
There are rarely too few options in which sectors, niches, industries and target groups new solutions could be offered. Instead, the challenge is the sheer number of possibilities. Everything seems equally good, nothing is really convincing right away. The more it is analyzed in which business area or for which future product all forces should be gathered, the less clear the picture becomes. Everything is analyzed and then everyone is paralyzed. The original motivation to achieve great things has quickly seeped away and turns into disorientation and frustration. The starting shot is not fired.
Some industries and customer problems seem interesting, but is it really worth investing? Willingness to pay, sales volumes, and serious buying interest of the target groups are difficult to assess. Desk research and colorful graphics with market figures do not help either. The management asks for quantified potentials in euros and cents. The certainty to deliver such numbers is hard to find.
Experts know what the customer needs. That’s how it was in the past. And often, it was enough to stay ahead and secure market share. The more the product and business become a commodity, the more important it is to secure market needs before the technicians start development. But to secure market needs, clarify willingness to pay, and truly assess potentials? Most companies have never done that. Market-pull is often heard, but technology-push is what is really practiced. First develop, then market, then sell. Those without experience always find reasons why innovation and new business development are so difficult. In the end, everyone returns to daily business.
Finding innovation potentials in the sense of market-pull and tapping into future industries and new application fields with new business development is possible. Many success stories demonstrate this, across industries and in B2B. The following approaches work:
Every company has different ideas of the perfect customer, perfect market, and perfect innovation. The strengths of the organization and the desires for the future business form the basis to include and exclude search fields. Together with the management and key experienced employees across the organization, a shared vision enables a first list of priorities.
Outreach to new target groups, establishing contact with new contacts, and open discussions about pain points and unspoken challenges bring true treasures to light. As trivial as it sounds, the results are surprising. Decades-old challenges that no one talks about, willingness to pay that no one expected, innovation potentials with waiting customers, and evaluation in euros are the result.
The desire to do business in medical technology, automotive, or the semiconductor industry is good but vague. Proving whether the industry is promising for the company, which application fields are truly suitable, and whether the target groups are even open to discussions adds substance. Once willingness to pay is validated, it’s proven whether there is a business case and if something can remain profitable in the long run. A solid foundation for investment decisions in new markets and the future portfolio.
Innovation potentials and new markets help to utilize corporate strengths in a truly profitable way. Where target groups are already waiting for new solutions, products and services. Validated potentials reduce the risk of developing in the wrong direction. All too often, companies fail on the market with internally conceived products. Together we will find innovation potential and promising new markets for your company!
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