Happy New Years A key Innovation Engineering method for increasing speed and decreasing risk is measurement. We quantify the sales potential of ideas early in the innovation process. We use tools such as New Market GPS to quickly estimate profitability, cost of goods sold and profit margin for innovations in markets that are new to us.
We also conduct customer research. A customer research tool that we use is a Fail FAST Fail CHEAP™ customer insight survey.
A company focused on helping small companies needs your help.
The survey asks how BIG and how FREQUENT a series of problems are from your perspective.
This type of survey is being built into the next generation of InnovationEngineeringLabs.com.
The survey results will be used as part of a spark deck at an IE CREATE session next week. When you start your innovation based on customer problems - you dramatically increase your odds of discovering an idea that is genuinely meaningfully unique.
Thanks for you help