This document describes an "Innovation Rocket program" run by Verhaert to help develop ideas into business opportunities. The program uses a structured 5-stage process to explore user needs, competitive advantages, product/service concepts, and business models. Participants work through exercises and coaching workshops to further develop their ideas. The goal is to help innovators build value for their ideas and understand commercial potential. Verhaert runs the program on a regular basis, and individuals or teams are welcome to participate.

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Innovation Rocket program
Give your million dollar innovation idea a
chance!
CONFIDENTIAL
Zane Smilga
Innovation consultant
zane.smilga@verhaert.com
THEME 1 : STRUCTURED EXPLORATION IN THE FRONT END OF INNOVATION

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Zane Smilga
zane.smilga@verhaert.com
innovation consultant
“passionate to discover
‘new horizons’
for innovation ideas, business
models and strategic growth
opportunities ”

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Tomorrow I will
organize a
brainstorming
I need some
crazy ideas!
I need many
smart & creative
people!
I want my
1 M dollar
opportunity?

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Kodak first digital camera

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Search engine technology
(Robin Li, 1996)
Since 1998

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first car (Karl Benz, since 1886)
Since 1913

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The art of converting
ideas into commercial success
Booz & Company, The 2012 Global Innovation 1000
IDEA GENERATION
IDEACONVERSION
highly
effective
Marginally
effective
Marginally
effective
highly
effective
25%
only 25% of companies
are highly effective in
converting their valuable
ideas into successful
products & services

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don`t we capture the
opportunities
if we have
great ideas?
WHY?

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too busy with solving
problems of today
- ideas stay on
the “level of idea”
too busy!!!
challenging to
compare & assess
opportunities
Which idea has
some value?
nobody takes “no-
go” decisions,
no focus
postponing
choices
WHY?
too many uncertainties -
too many unknowns
too different from
current business
practiceno confidence

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Innovators need a platform
to build a value for their raw ideas
- to search for a value
developing the idea further into a value proposition (for customers, users,
market, company)
- to build a product & business concept
developing a concepts around ideas to size the opportunity, to assess and
compare to other opportunities
“Turning rough stone into a shiny diamond”

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Platform
requirements: how should it work?
- ongoing / continuous system within a company
to have it available at all times
- resource commitment from management team
to make it happen!
- engaging all the internal stakeholders and idea owners
to create a runway!
- structured process
to be able to make decisions and prioritize
- concept building tools and templates
to create right content and be able to compare
continuous

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INNOVATION ROCKET ROGRAM
platform for ideas - example

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Innovation rocket program
Your product
and its users
The job-to-
be done
solution
A differentiated
value
proposition
Your new
application &
business
concept
Sharpening
the value
proposition &
concept
Stage 1 Stage 2 Stage 3 Stage 4 Stage 5
Everyone had an idea
for a new product or service
Learning about
theories, concepts, tools
Applying them
to sharpen and develop the ideas
further into concepts
(spring, 2013)

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Rules of the game
Program with theory and coaching
- Input on theory and brief exercises and reflections
- Working and coaching workshops
(development ideas further into concepts)
Working and coaching workshops are in breakout
sessions
- No debriefing among the groups on results
- Some debriefing among participants on how did it go
with using the tools and exercise frameworks
Homework in between stages

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Concept building
value creating process

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How big is
the size of
opportunity?
Who will care about it?
•user needs, its significance
• the promise of your products
Whose life will it make
easier/better?
Segmentation vs ‘job-to-be-done’:
the basis for new experiences
Is it going to give a
competitive advantage?
have a convincing vision on the
differentiation compared to
competition
lowhigh
Primary function
fall detection
All-in-one
device
Services
Female
Acceptance
Experience &
soft look
perceived
Size
Convenience
body location
Street price RVT market
Medium to very
dependant users Consumer
market
Tunstall
Fonium
Verhaert
What is it going to be?
Product/service concept +
Explanation and visualization of
features and functionalities
DESIGN to DESIRE
How much profit and
revenue will it bring in?
calculation of business opportunity:
market data, business case and
opportunity calculations

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How big is
the size of
opportunity?
Who will care about it?
•user needs, its significance
• the promise of your products
Whose life will it make
easier/better?
Segmentation vs ‘job-to-be-done’:
the basis for new experiences
Is it going to give a
competitive advantage?
have a convincing vision on the
differentiation compared to
competition
lowhigh
Primary function
fall detection
All-in-one
device
Services
Female
Acceptance
Experience &
soft look
perceived
Size
Convenience
body location
Street price RVT market
Medium to very
dependant users Consumer
market
Tunstall
Fonium
Verhaert
What is it going to be?
Product/service concept +
Explanation and visualization of
features and functionalities
DESIGN to DESIRE
How much profit and
revenue will it bring in?
calculation of business opportunity:
market data, business case and
opportunity calculations

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Who will care about it?
Is there any added value?
Is the added value sustainable?
Create new
qualities
Eliminate
effects
Product innovation is about searching for a positive balance for the
buyer / user between advantages and disadvantages.
= Customer Perceived Quality

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Researching user needs is complex
Toilet Snorkel
US Patent

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How big is
the size of
opportunity?
Whose life will it make
easier/better?
Segmentation vs ‘job-to-be-done’:
the basis for new experiences
Is it going to give a
competitive advantage?
have a convincing vision on the
differentiation compared to
competition
lowhigh
Primary function
fall detection
All-in-one
device
Services
Female
Acceptance
Experience &
soft look
perceived
Size
Convenience
body location
Street price RVT market
Medium to very
dependant users Consumer
market
Tunstall
Fonium
Verhaert
What is it going to be?
Product/service concept +
Explanation and visualization of
features and functionalities
DESIGN to DESIRE
How much profit and
revenue will it bring in?
calculation of business opportunity:
market data, business case and
opportunity calculations
Who will care about it?
•user needs, its significance
• the promise of your products

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Whose life will it make easier/better?
customers
DO NOT BUY
products or services
they hire various solutions at
various times
to get different jobs done

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what jobs can you find?

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• to wash your body
• to relax
• to release stress
• to get a massage after sports (to release muscle
tension)
• rehabilitation of injuries (athletic & sports
whirlpool tub)
• health maintenance (water therapy, massage)
• to bond & party with friends(jacuzzi)
• to have a romantic experience
• to play (kids)
• to give birth (water-birth)…
what jobs can you find?

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How big is
the size of
opportunity?
Whose life will it make
easier/better?
Segmentation vs ‘job-to-be-done’:
the basis for new experiences
Is it going to give a
competitive advantage?
have a convincing vision on the
differentiation compared to
competition
lowhigh
Primary function
fall detection
All-in-one
device
Services
Female
Acceptance
Experience &
soft look
perceived
Size
Convenience
body location
Street price RVT market
Medium to very
dependant users Consumer
market
Tunstall
Fonium
Verhaert
What is it going to be?
Product/service concept +
Explanation and visualization of
features and functionalities
DESIGN to DESIRE
How much profit and
revenue will it bring in?
calculation of business opportunity:
market data, business case and
opportunity calculations
Who will care about it?
•user needs, its significance
• the promise of your products

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What is it going to be?

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How big is
the size of
opportunity?
Whose life will it make
easier/better?
Segmentation vs ‘job-to-be-done’:
the basis for new experiences
Is it going to give a
competitive advantage?
have a convincing vision on the
differentiation compared to
competition
lowhigh
Primary function
fall detection
All-in-one
device
Services
Female
Acceptance
Experience &
soft look
perceived
Size
Convenience
body location
Street price RVT market
Medium to very
dependant users Consumer
market
Tunstall
Fonium
Verhaert
What is it going to be?
Product/service concept +
Explanation and visualization of
features and functionalities
DESIGN to DESIRE
How much profit and
revenue will it bring in?
calculation of business opportunity:
market data, business case and
opportunity calculations
Who will care about it?
•user needs, its significance
• the promise of your products

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Is it going to give
a competitive advantage?
competitive advantage
superior value over rivals
cost leadership
differentiation
focus
narrow product lines, buyer
segments, geographical
markets

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Do we understand
where advantage might be?
Performance
sustainable
disruptive
TimeSource:Christensen

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How big is
the size of
opportunity?
Whose life will it make
easier/better?
Segmentation vs ‘job-to-be-done’:
the basis for new experiences
Is it going to give a
competitive advantage?
have a convincing vision on the
differentiation compared to
competition
lowhigh
Primary function
fall detection
All-in-one
device
Services
Female
Acceptance
Experience &
soft look
perceived
Size
Convenience
body location
Street price RVT market
Medium to very
dependant users Consumer
market
Tunstall
Fonium
Verhaert
What is it going to be?
Product/service concept +
Explanation and visualization of
features and functionalities
DESIGN to DESIRE
How much profit and
revenue will it bring in?
calculation of business opportunity:
market data, business case and
opportunity calculations
Who will care about it?
•user needs, its significance
• the promise of your products

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How much profit and revenue
will it bring in?
Business case:
business opportunity
essence: market,
customers, competitors,
investments, business
potential
Financial simulations:
business finance calculations,
alternative options, PL
simulation, break even point
Organizational design
1. Organization of business
processes
2. Flow of money, products
and services

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Long tail
Business
model
Open
Business
model
Freemium
business
model
Multi sided
business
model
Bait &
hook
business
model
Choosing among
Mass
Custom
-ization
business
model
Infrastructure
management
business model
Product
innovation
business model
Customer
relationship
management
business model
alternative business models

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Learning from Innovation Rocket program
How did it work?
- Ideas can change radically during the program
- Program requires effort also outside the program sessions (output
depends on invested effort)
- It requires systematic participation
- It is best if you participate with a team (min.2 people)
- External view and coaching adds value to the process
- Follow up process after the program is critical for brining it forward

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WHEN?
Verhaert runs the “Innovation Rocket program” on systematic
basis
Program 2014: mid March – end of June
WHO CAN PARTICIPATE?
Any company/team looking for a FFE platform for their ideas to
build value and understand the business opportunity
You are welcome to join!

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VERHAERT MASTERS IN INNOVATION®
Headquarters
Hogenakkerhoekstraat 21
9150 Kruibeke (B)
tel +32 (0)3 250 19 00
fax +32 (0)3 254 10 08
ezine@verhaert.com
More at www.verhaert.com
VERHAERT MASTERS IN INNOVATION®
Netherlands
ESIC European Space Innovation Centre
Kapteynstraat 1
2201 BB Noordwijk (NL)
Tel: +31 (0)618 12 19 19
derk.schneemann@verhaert.com
More at www.verhaert.com
MASTERS IN INNOVATION® is a platform set up by VERHAERT to train, stimulate and incubate
you as an innovator.
We provide an extensive training program with different tracks and covering critical areas of new
products and business innovation.
Furthermore we manage the VERHAERT venturing program and organize our Innovation Day, an
annual conference on best practices and insights on new products & business innovation.