Ideas that Produce Results

Welcome to the final part of our 6 part series.

This week we are looking at the importance of evolving your product/service to stay competitive and meet customer needs.

Building_Dialogue

However great your product/service is today, that is no guarantee of future success.

Take Kodak — who had some of the earliest digital photography technology — and who ended up filing for bankruptcy. Or Nokia, who have missed the smart phone wave despite having the technology early than others such as Apple.

What this means is the approach to learning and refining your product/service that we talked about last week, needs to become a way of working i.e. creating a mindset of continually learning about the product/service so that can evolve in line with customers needs – or be replaced by something better.

Instilling a Culture of Learning

What we are really talking about here is creating a culture of learning and innovation where curiosity is valued and genuine feedback desired.

Key feature of such a culture include:

  • Leadership team have a mindset of curiosity and wanting to learn, if when what they learn is not what they want to hear.
  • Everybody, regardless of seniority is encouraged to speak-up. All input is welcome.
  • A desire for the truth trumps and pride/ego and/or attachment to a product/service – nothing is a “sacred cow”.
  • People listen for what is really said/ not said rather than listening to be right or for what want to hear.
  • There is follow-up to people’s suggestions, for example, if an employee’s idea is not being taken forward it is often important to tell them that so that even if they don’t agree or are disappointed, they know that their idea was heard.

Changing the Culture

Successful culture change creates a tipping point: there are approximately 5-10% of the organization’s leaders whose behavior (once shifted) will create the entire shift. This means that you want to identify leaders who can embody the cultural change in their own actions and through this inspire similar behaviors in others.

On a very practical level, organizations who excel at having an innovative, often a number of the following are also implemented:

    Forums designed for providing and sharing feedback on products/services.
    Competitions (internally and with customers and suppliers) for feedback and ideas.

.

    Recognition and awards for feedback and ideas.

If you truly have such a culture, you will get warning and feedback when your product/service no longer meets needs, or becomes less relevant or where a competitor is offering a better product/services and you have the information you need to make the best choices in the long-term interest of your organization.

Good luck on this journey! I have very much enjoyed these last 6 weeks working on Ideas that Produce Results and look forward to hearing your continued feedback,

Warmly,

Sarah

FacebookTwitterGoogle+LinkedInShare

Ideas that Produce Results #5: Fail Small, Succeed Big

by Sarah Thrift on February 24, 2014

We are making great progress. We have an idea and we know how to express it clearly.

This week’s article focuses on how to test your idea in a way that maximizes learning and highlights potential changes to the product/service.

Building_Dialogue

There are 4 steps to do this. We look at these in turn below:

1. Get clear on what you are testing

Often when we have a new product/service, there are a multitude of things we can and may want to test for, such as the features of a product/service, its look and feel, how it can be purchased, and pricing. The thing is that it is typically hard to test many factors at once. Therefore you need to decide which factors you are testing for at which point. Thinking back to alignment, if you are working as part of a team you also want alignment behind what you are testing. What is it you are really keen to find out?

2. Design the test

There are two elements to designing a test.

The first element is to ensure that you avoid confirmation bias. This is to do with the wording of the test and the way it is framed. You need to be prepared and willing to be wrong. If not, you are likely, whether subconsciously or otherwise, just to be trying to prove your own beliefs or what you think you already know.

The second element is to ensure that the test gives an actual experience of the product/service rather than just talking about it.  For example, it is very hard for someone to tell you if they like your cookies or not unless they are able to taste them! Equally, it is difficult for customers to imagine what an online payment service looks and feels like without being able to access a sample website with sufficient functionality.

3. Read between the lines: see what your customers are actually saying.

When testing, your most important source of information is your customer base. However, the most important thing is not what they say to you, but how they react: for example, what their body language tells you. You should use these observations to ask further questions directed towards a greater understanding of what you are testing. At times, you also want to supplement the information you get from customers with broader desk-based research on customer behavior and trends.

4. What to do with the information you have acquired

Having conducted steps 1 through 3, you will likely have received some invaluable feedback, which you can use to improve your product/service. Again, you want to ensure that you are sharing and getting alignment behind the proposed changes to the product/service. Now repeat steps 1 through 3 with your modified product/service.

As soon as you have a viable product/service, you can launch it. Even once your product is launched, steps 1-3 should be regularly repeated so that your product is continually evolving and meeting the changing needs and requirements of your customers. We will talk more on this next week.

See you next week for our final installment of this Insight Series.

Ideas that Produce Results #4: Keep it Simple

by Sarah Thrift on February 17, 2014

Welcome to week 4 of this series of ideas that produce results. Over the last 3 weeks we have discussed how to ensure your idea meets a need, how to choose the most promising ideas, and why getting alignment behind the selected ideas is so critical.

Open_Minded

Now that you have your idea and you have alignment behind it, you want to make sure you have a way to express it simply and succinctly. It doesn’t matter how complicated or technical your idea is, the ability to express it simply remains paramount. This means that you find ways to express it in different levels of detail, ranging from a simple overview to a comprehensive explanation.

The Pyramid Principle

A useful technique here is The Pyramid Principle that was developed by Barbara Minto. This involves building different layers to ‘peel back’ information, starting with the most important fact/governing thought at the top of the pyramid, to the bottom which contains comprehensive information.

Our brains naturally orders information into logical categories. For example, how would you remember the following shopping list?

Shopping List

  • Grapes
  • Milk
  • Potatoes
  • Cheese
  • Butter
  • Strawberries
  • Carrots
  • Apples
  • Yogurt

One popular way is to organize the list into fruit, vegetable and dairy categories. These categories are the “pyramids”.

Below is an example of the Pyramid Principle:

Pyramid Principle

Practice make Perfect

It often takes practice to express your product/service in a succinct yet compelling. Changing one or two words can make all the difference. You need to test this on all sorts of different people to see what works and what doesn’t. Get feedback and tweak accordingly. Where possible, go into the more detailed aspects of the idea, in order to test whether the way you are expressing it works.

Don’t underestimate the importance of this step. Too often, a great idea can be obscured by a poorly articulated or overly complication presentation. A tip I give people on my strategy courses is to test their ideas on a child and see if it is clear to them. This is the litmus test.

Next week we will talk about how to test and pilot your ideas so that you fail small and succeed big. See you next week!

Ideas that Produce Results #3: Align or Waste Time

by Sarah Thrift February 10, 2014 Ideas that Produce Results

Last week, we talked about ways to prioritize as a way of focusing on the most important idea. This week »» Read the full article

Ideas that Produce Results #2: Prioritize Your Ideas (Or, Choose or You Lose

by Sarah Thrift February 3, 2014 Ideas that Produce Results

Last week, we looked at how to ensure your idea will meet a genuine need. But suppose you have lots »» Read the full article

Ideas that Produce Results #1: Meet a Need

by Sarah Thrift January 27, 2014 Ideas that Produce Results

So you have an idea, or several ideas. That’s great! But how do you know if it is going to »» Read the full article

Ideas that Produce Results – Announcing 6 Part Blog Series

by Sarah Thrift January 20, 2014 Ideas that Produce Results

I am delighted to announce a series of 6 articles on Ideas that Produce Results, starting next week and published »» Read the full article