Innovative business models : 7 take away

seven

Gemalto is setting up its innovation framework and this requires sometimes help from innovative and experienced people. Some of us were trained by Philippe Meda @merkapt, on innovative business models. Vivien Ruivaco @VivienRuivaco and I wanted to share in a post our seven take-off from training that intends to drastically shake our innovation mindset and habits. Why seven? Neither because of the movie or any specific believe. Just because that is what we got.

1.       Innovation vs invention: We would say that a first tangible measure  of “Innovation is the ability to convert ideas into invoices.”  (L. Duncan). However Innovation is about changing the market, while introducing an invention makes no turbulence on Richter scale.

2.       Innovation is a magic balance: Innovation is happening in start-ups magic pots and not in big corporation legions (i.e. big pharma business model). Therefore when a start-up is innovative, buying it and integrating it within a big corp will diluted or make imploded the inner magic.

3.       Bringing an added value: Customers pay for what you are bringing to them, which in fact is the unique value that you are able to offer them over your competitors. Hence, innovation is about bringing “added value” to your customers.

4.       Product or service, who cares?:  When discussing innovation, the product or service discussion is irrelevant. There is no difference! A product/service/solution is just a technical mean to “carry” your added value and make it real. Thus, the product or service question shouldn’t ever be the starting point of a brainstorming because nobody care about that.  By the way, everybody is now doing (or say be doing) solutions…

5.       Business model innovation: Write your own business model down the paper and challenge to twist it again and again. What if it were fab-less, what if it were open source, what if it were collaborative with your competitor, what if it were free, what if it were a software…

6.       Out of books market research: Spotted by Gartner & co? That means you are looking at invention. Reading market studies is nice… but if you want to innovate, interviewing and prototyping are better.

7.       Reality check-up: Have you ever seen a designer in your life ? No? Too bad, those guys rock to question the real life of your lovely innovative offer.

If, like us, some of those principles make you curious about good practices in innovation, then you may have a look at Philippe Meda Blog http://www.merkapt.com/.

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