Denary Corporate Development

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Looking For InnovationIn All The Wrong Places

Richard Eppel(512) 522-1371

rceppel@denary.com

www.revenueintensity.com http://blog.revenueintensity.com

Denary Corporate Development

© Copyright - This is protected by the copyright laws of the U.S.A. It may not be reproduced, copied, published or loaned to other parties without our express written consent.

Denary Corporate Development

My Background

• Engineering– Systems Engineer– Product Manager– Product Line Manager– Engineering Executive

• Business– General Manager– CEO

Denary Corporate Development

Agenda

• Setting A Context for Innovation

• Exploring the Job-Needing-Done (JND) Approach

• Practice Session

• Application Example

Denary Corporate Development

What Are You Up Against

3,000 Raw Ideas

100 Exploratory Projects

10 Well-Developed Projects

2 Full-Fledged Product Launches

1 Successful ProductStevens, G A. and Burley, J.“3,000 Raw Ideas = 1 Commercial

Success

Denary Corporate Development

How Can We Improve Our Odds?

By Looking For Innovation

In The Right Places

And

In The Right Way

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Customers As A Source Of Innovation

• What questions do you ask your customers?

• What answers to you get?

• Do the answers help you target innovation?

• Do the questions and answers produce insight:

– To make powerful offers

– In your customer’s language

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Typical Customer Feedback

• Vague statements

• Their solution

• Desired outcomes tainted with their solution

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Two Key Questions

• How might we better utilize our customer’s knowledge to generate innovations that will accelerate our growth?

• How might we formulate the questions such that the answers are actionable?

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• Their world

• What they are attempting to accomplish

• What works well

• What doesn’t work well

• What doesn’t work at all

For the Job They Need To Get Done

What Do Customers Know?

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How To Provide Innovative Solutions

For The

Job They Need To Get Done

How To Provide Innovative Solutions

For The

Job They Need To Get Done

What Do You Know?

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What Do You Need To Do Your Job?

• The jobs the customer needs to get done

• The outcomes they want to produce

• The level of importance of the job

• Their current level of satisfaction with their outcomes

In A Precise And Disciplined Fashion

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Job Needing Done Approach

All Jobs Needing Done Start With A Verb

For Example:• Managing• Determining• Capturing• Cutting• Repairing • Diagnosing

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Job-To-Be-Done Examples

• Starting a corporation – Preparing a Living Trust– On-line or discount legal services

• Selling a house– You Sell It

• Preparing my taxes– On-line/Software/H&R Block

• Managing my checkbook– Quicken

• Buying vintage cars– On-Line Vintage Car Bluebook

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Job Needing Done Approach

Action Verb

Managing

Determining

Action Object Value Metrics

personal finances

the value of vintage cars

Context/Circumstances

at home

during anauction

with theseoutcomes

with theseoutcomes

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Job Needing Done Outcomes

Functional Job Statement

Outcome Statement

Denary Corporate Development

Job Needing Done Outcomes

Functional Job Statement

Action Verb

Determining

Action Object Value Metrics

the value of vintage cars

Circumstances

during anauction

with theseoutcomes

Outcome Statement

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Practice

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Practice Example

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Practice Worksheet

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Example

• You are in the business of selling:

– Guitar amplifiers

– Special guitars

– A full range of accessories

• Do you think you understand your customer?

• Are their customers you not serving?

• How do you find out?

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Ask Guitarists

• Find out the job they are trying to get done– Uncover the functional jobs

– Uncover the emotional jobs

• Survey a larger population to prioritize the level of importance and satisfaction

• Determine the parts of the job that are underserved

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Formulate Strategic Alternatives

Importance

Satis

facti

on

1

10

1 10

Opportunity = Importance + max(Importance-Satisfaction,0)

Overserved

Adequately ServedUnderserved

>15>12

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Develop A Market Category

Customer Circumstances/Situation

Who: Amateur to semi-professional guitarist.

Who want to get a job done and will pay to get it done?

What: Capture music without having to be technicians.

Play without interruption.

What are their existing solutions and what do these solutions required?

Where: Anywhere – rehearsals and venues.

Where do they do the job?

When: Anytime. When do they do the job?

Why: Capture inspired music without having to plan or think.

What is the reason – functional, personal, social?

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Results

Capture what you play Capture what you play, sing and hear

An easy-to-use portable digital recorder that provides total inspiration control for musicians

• Easy to use

• Always on, and always listening

• When inspiration strikes, you capture it

Result

Denary Corporate Development

Innovation Options Strategy

Denary Corporate Development

© Copyright - This is protected by the copyright laws of the U.S.A. It may not be reproduced, copied, published or loaned to other parties without our express written consent.