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INNOVATION

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by

Joa Falke

on 15 February 2016

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Transcript of INNOVATION

What defines Your primary market?

-Geography, size, age, gender, industry

What defines Your secondary market?
Who except for these two, benefits from Your offer?
Details
Contact
Malmö University

Joa Falke

Malmö University
Neptuniplan 7
205 06 Malmö, Sweden

joa.falke@mah.se
+46(0)703 789 288
se.linkedin.com/pub/joa-falke/0/733/747/
PHONE
LINKEDIN
E-MAIL
http://www.nav.mah.se/person/id/ADJOFA
WEBSITE
APPROACH
What is Your offer?
How can You give "life" to Your offer?
How is Your offer described quantitatively?
What makes it sustainable differentiated?
Where is Your offer in the Ecosystem?
How will this offer make money?
BENEFIT
What drives Your business?
COMPETITION
O
r
a
s
w
e
s
a
y i
n
S
w
e
d
e
n
.
.
.
.
-
Alternatives.
NEEDS
Must be
important
(not just interesting)
(Innovation & Development)
Fundamentals... and more!
Who
How many
When
From Where
Appearance and occurrence
Origin
Grow or Shink
Severity
Influences
Spawn
Are the ones having the need the ones targeted by Your solution?
Describe the "Eco-system" around the need.
Why would Your solution to the need be prioritized by many?
Define many.

IS the need a REAL PAIN?
The NEED for a notebook?
Resource
Offer
Customer
Finance

Visualize
Innovation Champion
Innovation team
The Pr
e
totype
Make sure You build
the right
IT before You build IT right!
Reid Hoffman (Founder of LinkedIN) -
"If You aren't embarrassed of the first version of Your product/service - You're launching it too late."
Fake it and test it cheap and fast before You do it
Pretotype vs. Prototype
Can we build it?
Will it work at all?
Will it behave as expected?
What size can we make it?
What would production cost?
Whats the energy consumption?
How will people use it?
Is it the right thing to build?
How...?
When...?
You will most likely succeed - avoid the pain by:
FAIL
Do Nothing
Do IT
Test IT

Unified vision
Unique, complementary skills
Achievers who involve and empower
Shows respect, integrity and generosity in spirit
Dares to question ideas and themselves
Unified vision
Unique, complementary skills
Achievers who involve and empower
Shows respect, integrity and generosity in spirit
Dares to question ideas and themselves
Values can be tangible and intangible
Tangible
Concrete
Quantifiable
Demontratable
Measurable
Intangible
Subjective
Qualitative
Vague
Unsubstantiated
Financial
Growth
ROI
Improvement
Brand
Quality of life
Status
Assosiation
Percieved customer value
Percieved customer costs
= Value factor
Payback
Impact
Improvement
Acquisition cost
Switching cost
Investment
Combo
If I gave You a simple way to express Your important idea in 60 seconds, would You be interested?
You
need
to
Attract clients
Recruit other member to Your team
Secure investments in the project
My
approach
is to use the elevator pitch format to organize your thoughts.
Benefits
include
Learning this format quickly
Using it for any project
It's free
Competing
formats exists but none are as simple or focused on explaining the value of Your product or service so clearly and crisply.
Hook
Close
: Can I show You the format
now
so that You can begin using it
immediately
?
Can be anyone!
Adresses the challenges of innovation
Funding
Bureaucracy
Political
Human
Technical
Passion and commitment
Leadership skills
Enroll teammates
Constantly learning and sharing
Cross disciplinary
Wants to create customer value
Look beyond problems
Champion
Selects important need
Builds and inspires a great team
Preserveres
Fail quickly - succeed sooner
Ask for ideas before resources
Listen and learn
Surround Yourself with enthusiastic volunteers
Build financial models but don´t believe them
Thank thinkers, praise participants
Trust the process
Tips
Teams do NOT form naturally or easily
Rules must be followed to have a productive team
Forming a productive team is a project in it self
Innovative teams are held together by
-constant
-collaborative
-communication
Collaboration
Shared vision
Unique
complementary
skills
Shared rewards
There is ALWAYS competition
How does it look now and in the future?
Barriers of entry ?
Honest assessment of Your position?
(IP/business model/partnerships)
DIRECT
INDIRECT
The biggest competitor is ALWAYS:
ALWAYS
:
ALWAYS
:
Who has these needs?
How many have You interviewed/studied?
How many has these needs?
What distinguishes
them from others
without these needs?
In what way are they
aware of their need?
How many will develop
Divide that time into
this need in time?
specific time frames!
Where do the needs originate from?
When and where do the need occur?


What effects the frequency of occurrence?
How is the need expressed by the person -
Has the need a tendency
to or shrink ?




Why, what affects
growth or shrinkage?
g
r
o
W
(general and social media)
confirms the need?
diminishes the need?
What channels influences?
What affects the severity of needs?
How can this need spawn into new needs?
with
without
the need?
Businessplan
Customers
Investors
Staff
Partners
Society
Other
Who validates Your need statements?
Why is Your data credible?
How would a skeptic argue against Your described customer needs?
Organizational alignment
Create and deliver highest customer value
Align people, metrics and resources
Team ||| goals of innovation
Innovation ||| goals of organization


Continously improve, remove barriers and eliminate all non value-adding activities
Create and deliver highest customer value
Align people, metrics and resources
Team ||| goals of innovation
Innovation ||| goals of organization


Continously improve, remove barriers and eliminate all non value-adding activities
MUDA
5DOI
Customer & Market Needs
Value Creation
Innovation Champions
Innovation teams
Organizational alignement
Pitch winner Venture Cup 2014
Full transcript