Subscribe to the series. Get 50 free videos, sent daily or weekly.Business leaders can be classified as Builders, Remodelers, Decorators, and Realtors. If you want rapid, profitable, sustainable growth, you need to find and reward the Builders among you.
b2bgrowth.video/3 Video length [2:27]
The best research says we’ve struggled for about five decades now. In 1971, the leading cause of new-product failure was “inadequate market analysis” (45%, with the next cause at 29%). In 2019, the leading cause was “No market need” (42%, with the next cause at 29%). After five decades, maybe it’s time to get serious about understanding customer needs before developing new products? Not that we need to rush into this, of course.
More in article, Target Customer Needs and Win
You know you’ve got a top-notch team exploring that unfamiliar market or technology when you see them… 1) identify all project assumptions at the onset, 2) detect and defuse unforeseen “landmines” (project killers) as early as possible, 3) advance the project rapidly without detours and distractions (or kill the project swiftly), and 4) spend funds investigating and pursuing only that which truly matters. The methodology for doing this is described in the short video at www.deriskprojects.com.
More in article, How to de-risk projects and overcome management doubt
Subscribe to the series. Get 50 free videos, sent daily or weekly.The “Red Queen Effect” has your business running as fast as it can just to stay even with competitors. You need to compete differently if you want rapid, profitable growth you can rely on year after year.
b2bgrowth.video/2 Video length [2:12]
Subscribe to the series. Get 50 free videos, sent daily or weekly.The methods introduced in this series are based on solid research and AIM Institute’s experience training tens of thousands of B2B professionals. Here’s why these methods will be commonplace someday.
b2bgrowth.video/1 Video length [2:12]
Portfolio management links strategy with execution for new product development. A Voice of the Customer program maximizes ROI for all new product initiatives, whether incremental or breakthrough. ... Read More
Would you want a bigger payload or a better targeting system for missiles, cancer treatment or gold mining? A bigger payload would be a larger warhead, radiation dosage, or backhoe shovel. Better targeting would be more precise hits on enemy positions, cancer tumors, or ore deposits. Better targeting reduces waste and collateral damage. Same for your R&D: Precisely target customer needs before stepping into the lab. This avoids waste (squandered R&D) and collateral damage (discouragement and slow growth).
More in article, Target Customer Needs and Win
Imagine two new-product project teams have gate reviews on the same day, and both projects are stopped. The first is stopped for the right reasons, e.g. smaller-than-expected market size or low customer interest… as evidenced by tiny Market Satisfaction Gaps. This is low Opportunity Quality. The second team is stopped due to sloppy work: skimpy customer interviews and much confirmation bias. This is low Execution Quality. Celebrate the first team. Train the second. For every project, make sure you know which is which.
More in article, 3 Problems with Innovation Metrics
Why use quantitative questions for interviews, not just qualitative? Two reasons. First, qualitative interviews give you reams of customer quotes with no good way to prioritize customer needs. Sure, you could count the number of times customers cite a certain need, but frequency of remarks is a poor substitute for customer eagerness to improve. More ... Read More
“The Voice of the Customer”, an article by Abbie Griffin and John Hauser from 1993, joined two parallel worlds. The first, of academia and market research. The second, the practical engineering discipline of new product development. As such, “The Voice of the Customer” built upon the leading framework at the time for building new products, ... Read More
