Product or Service Innovation
At New View Innovation we specialize in working the whole way through the product innovation process. We work with businesses to uncover, unlock and create new ideas for additional products and services through The WhiteRoom Experience.
We then evaluate these ideas with research and review through the Innovation Scoping process. An Innovation Pathway is built out following the evaluation to ensure that the project has clear guidelines and direction.
We can then either mentor your team through the process through our Innovation Coaching program or fully execute the project with you and your team with our Innovation Management & Implementation Team.
Reviewing the viability of any new innovation is a critical step in the innovation process. While no one can predict the future, there are specific methods that can be used to determine the likelihood of development and market success.
Taking the idea to the next step involves reviewing the concept from a number of different perspectives. One of these perspectives is that of the company and the key internal stakeholders. Does this fit with existing company strategy? What types of resources are available to fully develop this? Who will manage this when it is successful? What external resources will be required?
Another perspective is from a business planning point of view. How will success be measured? What is the likelihood of success? What is the potential for revenue and ultimately profitability? Yet another one of these perspectives is that of the Market. What is the market size and potential demand? Who will be interested in this product or service? Why? Scoping the Innovation Project is a key part of what we do at New View Innovation to maximize your opportunity for a successful investment in innovation.
Once the scope of the project has been determined, and all stakeholders agree that there is a good opportunity for success; the next step is to build out an Innovation Pathway. The New View Innovation Pathway is like a business plan in that it takes into account the strategic thinking along with the expense and revenue numbers associated with a new product or service.
Unlike a Business Plan, The New View Innovation Pathway provides flexibility that will be required as the project takes inevitable twists and turns. “What if” variables are evaluated knowing that the project will be moving into uncharted territory. It also outlines a number of options that may or may not be pursued depending on the outcomes at each step of the plan. Finally the pathway builds out a specific timeline of what needs to be achieved as well as success measurements along the way.
Achieving success in innovation, within any organization, is challenging. The most productive people are usually working at maximum capacity and any additional responsibility; much less the complex nature of an innovation project, can seriously derail or postpone the project. Others who have the time, but have never tackled an innovation project need guidance through each stage of the project. The dynamics of any team on an innovation project will require encouragement, review, training, direction and support to achieve the desired results.
Whether it is simply mentoring internal champions or guiding a complete team through the intricate process of innovation, New View Innovation offers innovation coaching to ensure that your project stays on track. Just like a coach, our aim is to ensure the innovation pathway, and ultimately the new product or service, achieve maximum success in real world markets. Our experience and outside perspective is utilized to coach the principals involved through each step of the pathway as well as through any unpredictable events that will inevitably arise.