Lean Sprint: From concept to market validation in 4 days
We’re living in a fast changing world where young dynamic start-ups can bring a new product or service to market in no time, competing with big brand ideas and taking control over new upcoming markets. Through intensive coaching, we help corporate teams in validating business assumptions of new products and services in their pipeline in just 4 days. Validating business assumptions in an early phase will not only reduce investment risk, but allow you to shorten your time of development and overall time-to-market.
Context: Go-to-market, the start-up way
Corporates have an incredible scale to market innovations. Once management approves new business ideas for development, often a long period of R&D takes place before marketing puts the new product or service in the market. Corporates can learn a lot from start-ups: Getting outside the building, testing market assumptions, experimenting & prototyping, failing cheap, iterating,… Overall: learning to really know your customers in an early phase, instead of building a product nobody wants.
Tools, coaching & validation support
We provide teams with the right tools and frameworks to identify the key assumptions of their project, set up experiments to validate those assumptions, and pivot or improve the product based on the outcome. Testing assumptions is a crucial first part of our business prototyping phase. Teams are coached and challenged intensively throughout the Lean Sprint. We also bring designers and young entrepreneurs into the mix, to support teams in developing mockups and prototypes for their experiments.
Why business prototyping is important
The ambition is to make your 100-year old corporate pivot faster than competition, including dynamic start-ups that enter your market. Following the main principles of the lean startup, by Eric Ries, we aim to test concepts as soon as possible with customers in “the real world”. Dropbox and Zappos are two examples of great companies that used this approach to get market traction faster, reduce their business risks and grow at lightspeed. Think big, start small and accelerate fast is what business prototyping is all about.
Result: Validated or pivoted product to scale-up
The result is a pitch of the improved product or service concept to an executive panel. The pitch includes hands-on prototypes, market feedback, and proof of customer interest. The panel decides to kill non-validated concepts (failing fast!), and to invest in scaling-up validated concepts for development and going-to-market using a lean approach. Next to speeding up and improving the development of your 5 projects, the Lean Sprint is an immersive learning experience for all participants and will permanently change their mindset about lean development.
About Inno Garage
Inno Garage is a diversified consulting group catering the startegy requirements of best companies around the world.