Design thinking is a powerful methodology for solving “wicked problems.” Unlike the well-stated problems we were given to solve in engineering school, these require figuring out what to work on, not just how to solve the problem. This perfectly describes real-world new product innovation, where we need to first understand customer needs.
As this diagram shows, the first two steps are “empathize” and “define.” Here’s the good news for B2B producers: You can do this much more effectively that B2C counterparts by using Discovery interviews (for “empathize”) and Preference interviews (for “define”). Check out this white paper to see why… and how: Design Thinking for B2B
In general, we do consider in-person interviews to be the gold standard. But there are 10 advantages of virtual VOC you shouldn’t overlook: 1) lower cost, 2) reaching dispersed customers, 3) viewable probing tips, 4) training for colleagues, 5) probing suggestions, 6) assistance for note-taker, 7) rapid de-briefing, 8) easier scheduling, 9) low-impact cancellations, and 10) greater project speed. To maximize effectiveness and efficiency, you’ll be wise to blend and balance both types of VOC. (See 2-minute video, Conduct virtual customer interviews.)
More in white paper, Virtual VOC
The “consumption job” may be the most important concept that you’ve never heard of. Consider this. We are all unique, or we think we are, with this problem: our products are becoming more and more like commodities. You know, gasoline, steel, topsoil. Our superior product dreams are trampled under the heavy feet of commoditization. Wouldn’t ... Read More
We call our bosses “leaders” out of respect for their organizational position. But do they drive B2B organic growth? How many would pass this one-question pop quiz: What is the foremost duty of a business leader? What’s your answer? I believe the correct answer is: Leave your business stronger than you found it. Some might ... Read More
How critical is it to target customer needs? Imagine three situations where you might face the question of a bigger payload vs. a better targeting system: missiles, cancer treatment and gold mining. A bigger payload would be a larger warhead, radiation dosage and backhoe shovel. Better targeting would be more precise hits on enemy positions, ... Read More
In 1965, DuPont scientist Stephanie Kwolek synthesized the first Kevlar polymer, an amazing fiber with five times the strength of steel. DuPont invested several hundred million dollars to commercialize the technology for tire cords, with disappointing results. It would be another decade before the company found its first major market for this material: bullet-proof vests.
How well does your company commercialize technology? Want to do it faster, more efficiently, and with greater confidence? You can, with six steps outlined in this white paper, Commercialize technology in 6 foolproof steps.
More in this 2-minute video, How to pursue transformational projects
Everyone wants to use metrics to monitor their innovation. That's fine… but unless you’re using “intermediate” metrics, you could be missing 3 qualities of a good metric: 1) predictive, 2) insightful, and 3) actionable. Consider these 12 intermediate metrics for your business. ... Read More
If you hired a great “business growth” coach, she’d probably have you follow the same plan as a golf or football coach: 1) objectively assess your current capabilities, 2) develop a comprehensive improvement plan, and 3) track your progress in improving these capabilities.
Why not follow this same approach for building your organic growth capabilities? Step 1 can be a free diagnostic of your business’s growth capabilities at www.b2bgrowthdiagnostic.com, which benchmarks your business against others on 24 growth drivers. You can then run this free diagnostic annually. The key word here is capabilities: Too many leaders fixate only on results, forgetting that capabilities drive results.
More in 2-minute video, Build your growth capabilities
Most B2B companies struggle with organic growth because they don't rationally deal with these 5 harsh realities. This article compares the futility of “penny pinching” in the front end of innovation… to the way DuPont invested in New Product Blueprinting training. ... Read More
If your company has a P/E ratio of 20, only 5% of its value comes from this year’s performance (that is, your earnings this year). The other 95% comes from the market’s expectations of your company’s future: That’s all that’s left.
So business leaders probably spend 95% of their time where the value is… ensuring future growth will be rapid, profitable and sustainable, right? Ummh… well… not so much. Strangely enough, many management teams fixate on this year’s results. You say your investors won’t let you think past this year? What about Amazon, that took 7 years to turn a profit? Warren Buffet said, “Companies obtain the shareholder constituency that they seek and deserve.”
More in this 2-minute video, Shareholder wealth is a poor goal
