Innovation Opportunity Canvas
The Innovation Opportunity Canvas is used to assess all your ideas which captures and evaluates related trends, innovation horizons, innovation themes and attractiveness (desirability, feasibility, viability). This canvas is particularly useful during the discovery stage when you start working on elaborating the ideas that have been selected in the exploration phase.
You need to discover whether they indeed address a problem that is worth solving; these are the true opportunities for the business to address. Furthermore, this information helps you to build the innovation funnel and evaluate the balance of your portfolio between horizon 1, 2 and 3.
3 Advantages of using the Innovation Opportunity Canvas
1. An Innovation Opportunity canvas helps you to organize, evaluate and prioritize your innovation opportunities in an effective and efficient way.
2. Define your innovation ideas properly and find out the potential of it.
3. It is the basis of good Portfolio Management: filling your Innovation Funnel with innovation projects with the highest potential and in line with your innovation strategy.
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Innovation Strategy Canvas
An Innovation Strategy Canvas is used to create an innovation roadmap. This is a document in which you delineate your strategy for innovation in a well-organized way, taking into account your goals over time. There is not one specific form of an innovation roadmap.
Any form will do as long as you make tasks and goals transparent. The Innovation Strategy Canvas can help you with this. At RevelX, we believe in the advantages that such roadmaps bring. It worked wonders for several of our clients.
Before You start with the Innovation Strategy Canvas
You cannot build a decent innovation roadmap without some preparations. There are a couple of issues to consider first:
- Everything starts with a clear vision on unmet future customer needs. Be short and concise.
- You also have to define your “Innovation Readiness.” You can use the RevelX Innovation Readiness Benchmark to get a clear view on your innovation readiness.
- Subsequently, determine which innovation themes you want to address and which ambitions you want to realise
3 Advantages of using the Innovation Strategy Canvas
1. An innovation roadmap helps you to organize, prioritize and delegate your innovation tasks in an effective way.
2. As a manager, you keep tabs on everything that your team members do and why they do it, but it will also help the team members understand the importance of their tasks.
3. An innovation roadmap helps you estimate how far you are on your path to more innovations.
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Growth Experiment
The Growth Experiment Canvas aligns all the elements of your experiment towards the same direction to maximize results. It allows for a constant, analytical process of experimentation where all members of the growth team are conscious of the entire operation.
Connect your experiments with your short-term goals, your business KPI’s and guarantee synergy between growth objectives and expectations of your metrics. Automatically create a knowledge base on all the results and knowledge gained throughout your experiments and share it easily between multiple teams and products.
Before You start with the Growth Experiment
Before starting with the Growth Experiment, you can do some preparations. First, identify short term growth objectives and a key metric of to measure the success for each. Second, make sure to choose the best multi-disciplinary growth team to ensure the best results.
3 Advantages of using the Growth Experiment
1. The canvas guides the team towards the same direction and maximizes the output of your tests.
2. Find and prioritize the most promising hypothesis based on different criteria on the canvas
3. Through sharing all elements of the experiment, you can avoid reworking and amplify the growth results
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Idea Card Canvas
The Idea Card is a very useful and valuable tool that will design the strategy needed to execute an idea. It validates your business ideas with customer experiments and tests.
This canvas is a powerful and simple tool to execute your hypothesis and assumptions.The Idea Card makes it easier to scale your ideas by designing better ways to test and prototype.
Before You start with the Idea Card Canvas
Before starting with the Idea Card, you can do some preparations. First, let teams work independently on creating their Idea Card and refine their initial idea and develop their ideas into visual concepts.
3 Advantages of using the Idea Card Canvas
1. This tools keeps you focused on your experiments during the idea generation phase
2. The Idea Card helps the team formulate their innovation idea by provoking critical thinking and helping them visualize the execution strategy
3. It encourages team discussions around the multiple forms of value offered by the idea
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Experiment Design Canvas
The Experiment Design Canvas, created by Ash Maurya, provides a simple way to test ideas into measurable, observable experiments that are easy to document and track.
This Experiment Canvas allows the team to design the right experiment at the right time. Once you run the experiment, you can gain valuable insight on the assumptions that you are testing.
Before You start with the Experiment Design Canvas
Before starting with the Idea Card, you can do some preparations. First, let teams work independently on creating their Idea Card and refine their initial idea and develop their ideas into visual concepts.
3 Advantages of using the Experiment Design Canvas
1. The canvas makes it easy to design a well-defined experiment
2. It facilitates a team to have the right conversation and shared language
3. By setting up the right experiment, you can easily check the results and plan your next steps immediately
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MVP Feature Canvas
The MVP Feature Canvas is a visual chart that describes your Minimum Viable Product elements – the vision, outcome, business hypothesis, metrics, features, personas, journeys, and costs. Discover your minimum viable product in order to keep the product development cycle lean and agile.
By following the MVP Feature Canvas’ user-centred principle, you can conceptualize features, needs, and requirements that allows you to design products that will improve and simplify customers’ lives.
Before You start with the MVP Feature Canvas
Before starting with the MVP Feature Canvas, you can do some preparations. First, explore your business thoroughly and develop a hypothesis to test. Next, try to answer the following questions:
- What is the minimum that would make a poor product or service?
- What would you consider an advanced and viable yet difficult-to-make product?
- What product or service is both easy to create and attractive to customers?
3 Advantages of using the MVP Feature Canvas
1. This will help you understand if you are really moving forward and reaching desired results or learning
2. It assists entrepreneurs in aligning their ideas with the minimum & viable work needed to create and validate it
3. Your product development cycle and iteration becomes lean and agile, saving on costs, time and resources
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Lean Analytics Roadmap
There are many features that you want to add your product but not enough time. The Lean Analytics Roadmap allows you to define what features you should add as well as identify when to add these features based on the particular stage that your innovation project is going through.
When it comes to product planning, the Lean Analytics Roadmap will make your efforts very focused. This allows you not to waste valuable time on features that are not required in the stage or phase that you are in right now.
Before You start with the Lean Analytics Roadmap
Before starting with the Lean Analytics Roadmap, you can do some preparations. First, know what kind of business you are and the stage where you’re at. Next, pinpoint and optimize only the most important metrics for your business right now.
3 Advantages of using the Lean Analytics Roadmap
1. Instead of maximizing your product features, optimize and choose only the right ones for your business
2. Achieve your desired goals by setting realistic and achievable metrics when it comes to innovation
3. The roadmap allows you to be lean and focused when performing experiments on new features, giving you a mid-long term view of your product.
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Customer Journey Canvas
Once you know your ideal customer persona, the next step is to delineate their journey. When you define the experience a customer goes through to fulfil a particular need, then you can define how to connect with and support them throughout the journey – whether they are searching, buying or actually using the product or service.
By using the Customer Journey Canvas, you can find out how and why your customers search for, buy and use products and services. This way, you can develop different features and processes that will satisfy them and build loyalty.
Before You start with the Customer Journey Canvas
Before starting with the Customer Journey Canvas you can do some preparations. Focus on your customer. Try to put yourself in their shoes. How do they experience the problem that you are providing solutions for?
3 Advantages of using the Customer Journey Canvas
1. Mapping the customer journey allows companies to study the user experience and learn where improvements can be made
2. Businesses can better understand customer emotions instead of framing customer decisions on their own views
3. The customer journey reveals gaps in customer service and communication which serves as a great foundation for planning and designing