From an idea to a product, it is a long way journey.
I. Eliminate Uncertainties and Risks.
There are many uncertainties and risks when developing a new product. Often a company follows a “just do it” approach: specifying requirements, getting budget, consuming at least all the budget, charging off the investment.
Describe your product with the Lean Canvas. Identify the biggest risks and uncertainties of your product and mitigate these one-by-one.
Original Business Canvas Model is created by Alexander Oosterwalder.
Because innovation means that you have to fail frequently, in fact, at least fail in 90% of cases, right? But there’s an other option.
With the Lean Startup method, we can create order not chaos by providing tools to continuously test a vision, mitigate risks, and adjust the product accordingly.
Lean does not simply mean spending less or fail-fast & fail-cheap. It’s about using a process and methodology for product development to effectively develop a product that is desired and purchased by customers.
The Lean Canvas represents your product. Identify the biggest risks and uncertainties a find a strategy to mitigate these.
II. Work Smarter, Not Harder
The Lean Startup method assumes that every new product development is a big experiment that answers one question.
Stop thinking only about feasibility. Great value is feasible, viable, and desirable.
The question is not “Can this product be built?” Instead, the question is: “Should this product be built, i.e., does a customer need exist?” and “Can we build a sustainable business with this product or service?”
INNOVIZIO can help your organisation to assist the idea, value proposition and market analysis.
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