Dude, where are my Customers???

Tathagat VarmaVP, Strategic Process Innovations,

[24]7 Innovation Labs

Picture: http://www.news.com.au/travel/holiday-ideas/inside-china8217s-ghost-cities/story-e6frfqd9-1226716277487

Why Innovation matters?

“Our species exists thanks to four billion years of genetic innovation. Since time immemorial, life has been experimenting with new genetic combinations, through sexual recombination and random mutations.…Thank God for screw-ups, for if life had adhered strictly to six sigma rules, we’d all still be slime.”

– Gary Hamel

http://blog.amplifiedanalytics.com/wp-content/uploads/2011/07/New-product-failure-rate.png

“Build and they will come” is not a strategy, it’s a prayer.

– Steve Blank

Isn’t execution enough?

Necessary, but not sufficient…

Google’s Hall of Shame

4.85yrs to pull out???http://blog.priceonomics.com/post/46028291791/digging-around-in-the-google-graveyard

Internet Hall of Shame…

http://themyndset.com/2013/05/catch-the-wave-right-mindset-digital-iq/ http://www.cnet.com/1990-11136_1-6278387-1.html

…and in ROTW

who succeed, drastically change their plans along the

way!

2/3rd

Guess them?

http://www.capgemini.com/blog/capping-it-off/2011/06/paving-the-path-of-scrum-adoption-2-product-people

New Product Development: Old vs New

Old NPD

Technology-drivenForecast based

ProductionLarge R&D $$$s

Closed Innovation

Long gestation period

Slow upgrade cycle

Top 3 / Land grab

New NPD

User needs-drivenFeedback based

DesignSmall Startup $s (and

¢)Open Innovation

Short experimentations

Fast upgrade cycle

Long tail

Innovation =

Ideate

+ Productize

+ Commercialize

+ Search Business

Model

Problem with traditional product development model

From: Running Lean – Ash Maurya The Startup Owners Manual – Steve Blank

“In large companies, the mistakes just have additional zeroes in them”

– Steve Blank

“A startup is not a smaller version of a large company” – Steve Blank

http://newentrepreneurship.nl/business-model-canvas/

http://torgronsund.com/wordpress/wp-content/uploads/2011/04/Slide1.jpg

“GET OUT OF THE BUILDING”

http://steveblank.files.wordpress.com/2010/11/pivot-the-model.jpg

Build-Measure-Learn Loop

So, what is your product?

From: Running Lean – Ash Maurya

http://www.expertprogrammanagement.com/2010/08/the-scrum-process/

Recap