Savvy investors (your board, employees or external investors) aren’t interested in experimenting. They are interested in pouring gasoline on a fire that is already burning. They don’t want to help you start a fire. That’s your job as an organization, a leader or an idea owner. But where do you start?
While our Idea to Investment program allows teams to work through the critical questions about the business idea validating key assumptions quickly and efficiently before major investments are made, our Innovation Funnel will help people to develop their future business opportunities in a controlled and measurable way.
The ICX Innovation Funnel is designed to manage a pipeline of ideas and quickly assess and select the best ones. Then to validate and accelerate the winners to deliver the greatest ROI to stakeholders.
There is a really fantastic 18 minute video presentation delivered by Dr. Tendayi Viki addressing the needs of stakeholders and management teams to become more ambidexterous in their approach to managing existing business and innovating on existing business. It is an inspiring presentation and we agree whole heartedly that there is a big difference between searching and executing which is an important distinction for stakeholders at all levels to understand.
We know and have proven that reconciling the tension between searching and execution, is enabled and accelerated by using our stage-gated approach designed to continuously test, learn and iterate on new ideas in order to search and quickly find the product/ market fit.
At each phase of the Innovation Funnel, previous resources, budgets and KPI’s are evaluated and next phase funding is requested along with a new set of KPI’s, resources and objectives.
Finally, once we have validated the business idea through an in-market pilot, we help you to establish the scaling plan and accelerate growth. And usually, at that point operational teams are in place and our job is complete.