Filtering by Category: Thought Provoker

Professional Innovation Requires Time & Resources

Added on by Alexander Osterwalder.

I’ve always struggled to understand why many companies ask fully occupied employees to do innovation in addition to their day job and expect spectacular results. Do we ask people to do accounting, marketing or operations on the side? No, because we accept them as professions. Innovation is still fighting for the right to be a serious function in most companies.

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Why Teams Are Terrified To Pitch Their Ideas The "Right Way"

Added on by Alexander Osterwalder.

In many organizations leadership is used to judging ideas, and teams are used to making their (unproven) ideas look picture perfect. That is the worst possible context to pitch new business ideas. The right way? Present the ideas in their rawest form possible, only supported by the evidence proving they might work.

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“Failure” Saves Your Company Money & Encourages The Pursuit Of Bold Ideas

Added on by Alexander Osterwalder.

Companies traditionally see failure as a waste of money. This is the right perspective when you’re building a new factory or managing established processes. However, quick and cheap failure helps you identify which ideas NOT to pursue when it comes to creating new growth engines. This type of “productive failure” that leads to learning and insights helps you avoid investing millions of dollars in ideas that customers don’t want, won’t make enough money, or are impossible to execute.

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Time Is Worth More Than Money

Added on by Alexander Osterwalder.

You can't expect innovation teams to bring back perfect and completely validated business ideas without giving them the required time to do the work. In this post, we align expectations for time against the effort your team can place on validating new business ideas.

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Corporate Innovators Need Access To Customers

Added on by Alexander Osterwalder.

What’s the one thing companies have that startups don’t? Customers. Access to customers is indispensable to learn if new  business ideas have the potential to become solid growth engines. So why is it so difficult for corporate innovation teams to connect with a company’s existing customers?

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Keep Your Eyes On The Prize

Added on by Alexander Osterwalder.

Innovators have to constantly think about the entire picture when conducting new business experiments. In my experience, corporate innovation teams tend to get lost in the details of testing activities. It’s important to never forget that testing is a means to an end. Learning is NOT the goal. Ultimately, it’s only about making progress towards a value proposition that customers want and a profitable business model that can scale.

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How Customers Adopt Products

Added on by Alexander Osterwalder.

This is a tool called the Forces Diagram that helps you understand why customers may switch or may not switch to a new value proposition or solution. We found the concept and tool to be very valuable as it goes well with our Strategyzer toolset. It really helps understand the adoption or potential adoption of new value propositions.

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Why Fortune 500s Don’t Invest In Growth

Added on by Alexander Osterwalder.

This blog post visualizes an idea that I heard from Roger Martin at the Drucker Forum in Vienna last year. Traditional shareholders expect predictable growth without risk. Growth requires a venture capital type investment philosophy. Let me explain.

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The Difference Between Amazon & Nestlé

Added on by Alexander Osterwalder.

Last week I talked to Steve Blank in Boston before our public Master Class. We had a chat about why established organizations have such a hard time to get beyond  innovation theater. Here’s a quick visual of that conversation.

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How To Track The Progress Of Business Experiments

Added on by Alexander Osterwalder.

The ultimate goal of business experiments is to learn, act, and make progress towards turning an idea into a real business. You achieve that by connecting the data from these experiments back to your initial hypothesis and the bigger picture.  

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