Winning with Launching Innovative Products and Services
Got a great idea that you know customers will want, need and value?
The secret to successfully launching innovative ideas is to gain adoption in the early phases.
But here is the catch; you must FIRST enter a very specific market segment who are willing to be early adopters of your idea. That is, the secret to successfully launching innovative ideas is to gain adoption in the early phases.
Far too many times we see launches of products and services that the market either does not understand the benefits to, or finds the implementation of the idea too complex or too expensive in comparison to how they are doing the job currently.
You have to take a data-driven viewpoint and know that statistically, more than 80% of innovative launches fail resulting in enormous losses of money, time and effort.
So how do you WIN?
Its actually quite simple. Follow the launch formula (yes – there is a formula!). The Launch Formula is a process developed on the back of 15 years of research and success/failure analysis. You can learn more about The Launch Formula here.
How does The Launch Formula work?
At each step, you will run essential validation of specific assumptions, assess and pivot if required, before moving on to the next step with confidence. Without this formula, as proven by the horrendous failure rates, you risk investing your funds, time and energy into an idea that has a high probability of failure.
Take the example of the first validation point – Concept or Idea. At this stage we undertake some basic research, analysis and conceptual mapping of what it will take to get your idea to market, who that market is, how big the opportunity is and more. Now we have started to validate that conceptually your idea is strong enough to move into a full business case process.
Why would you conceptualise your idea? Well think of it this way; would you ever buy an investment property without doing basic research? Would you ever buy a business without some form of research? Would you ever consider buying an expensive high performance car without some basic research?
The reality is this: You may have a fantastic idea, but to get your idea to market is likely to take an investment of at least this level of research, even if you can do it extremely inexpensively.
Here at Advivo ICP, we are strong advocates of progressively validating each step of the launch formula. Applying a scientific approach to your launch process is proven to increase your ability to launch ideas and WIN.
We do a lot of work with teams who have innovative ideas, are time poor, who value research and value their investment dollars. Advivo ICP specialises in doing the job for you to ensure you don’t waste your idea, your time or your financial investment.
Make a start today – check out The Launch Formula online, learn the type of questions you need to be answering at each validation point and then contact us to discover how you can validate your first step on a path to successfully entering the market.
We look forward to hearing about your winning innovative idea.