Many factors can predict whether or not your Corporate Innovation Ecosystem will be successful. Discover the key factors and assess where your organization stands as of today.
The Growth Funnel provides large enterprises with the structure, processes, training, tools and coaching support they need to create and sustain a successful corporate innovation ecosystem. Your teams will be empowered to design, test and make decisions on new business ideas. By bringing evidence to the table teams will make innovation investment decisions fact-based and simple for your strategy team or growth board.
Start with a cohort of up to 10 small teams and 10 ideas. Improve ideas with design tools and techniques. Test basic hypotheses, course correct rapidly, adapt the ideas over a 15-week process and invest only in the most promising ones.
Continue with the 3 to 5 ideas that show the most potential based on evidence. Intensify testing over a 15-week period. Confirm with strong evidence what business idea is likely to work and further invest on this one only.
Further intensify testing over the next 24-week period with Minimum Viable Products (MVPs), and prepare your business idea for scaling and further investment.
The Preparation phase is all about identifying and engaging stakeholders, aligning on key success factors, and selecting suitable teams, team leads and projects. At the end of the Preparation phase all participants and stakeholders will have a clear understanding of what they can expect from the program, and what’s expected from them.
During the Discovery workshop, the teams will familiarize themselves with the Strategyzer innovation toolkit, shape their initial ideas using the Business Model Canvas and Value Proposition Canvas, and get ready to test their idea on the ground.
In the Testing phase, teams will de-risk their business ideas by going out into the real world, talking to customers and collecting evidence. In an iterative process they will go back and forth between designing and testing their ideas. The insights they gain from testing will help them make data-driven decisions.
The leadership team and/or growth board will select the 3 to 5 teams to go to the Validation phase, with the support of the Strategyzer team.
In the 2-day validation workshop the 3 to 5 selected teams will familiarize themselves with the testing process they will go through in Validation phase to test the remaining critical hypotheses underlying their Business Model and Value Proposition. Together with their coach they will create their testing plan for the next 12 weeks.
In the Testing phase, teams will further de-risk their ideas by designing experiments to test the next batch of critical hypotheses underlying their Business Model and Value Proposition. In an iterative process they will go back and forth between designing and testing their ideas. The insights they gain from testing will help them make data-driven decisions.
The leadership team and/or growth board will select the team to go to the Acceleration phase with the support of the Strategyzer team.
In the 2-day acceleration workshop the last remaining team will co-design with their coach the testing and/or scaling plan for the next 24 weeks. This plan will be adapted to the specific context of the team and its business.
Depending on the nature of the business they’re building, the team’s activities during Acceleration might still be focused on de-risking remaining critical hypotheses in order to build a solid business case (e.g. in a case where there are still critical feasibility hypotheses related to hardware development or a heavy infrastructure required). Other teams might evolve quicker towards scaling challenges such as recruiting required staff, setting up the right legal structure, etc.
During the final workshop the team will present their business plan to the leadership team or growth board.
The solution includes face-to-face training workshops and online courses to get everyone up to speed with the Strategyzer tools and methodology. During the sprints, Strategyzer coaches will offer additional advice on how to use the tools and methodology.
The investment in a portfolio of new business ideas is a critical and significant effort. The key variables that will influence the overall budget are the number of cohorts and teams that will be supported by the Growth Funnel solution and the amount of coaching support you'll decide to provide your teams with. For more information about budget and pricing, please reach out to our experts here.
You can always decide to run a cohort with less than 10 teams, which won't impact the design or price of the solution. However the Growth Funnel is a solution to enable the exploration of a large volume of ideas in order to find new growth engines. If sending 10 teams sounds like too big of a challenge or investment, please reach out so we can discuss whether other solutions would better suit your context.
Many organizations already have teams that have started their innovation projects. In that case for each team we do a quick assessment of their progress to decide how best to support them. Depending on their actual progress typical options would be:
In addition to the budget required to run this program, key resources will be:
The team will be most successful if its members bring diversity in gender, experience, expertise, etc. But that shouldn’t lead to increasing the size of the team. Indeed small teams systematically outperform big ones in early phases of the innovation journey. So we recommend 3 people per team for Discovery, increasing to 5 people per team for Validation. The ideal team size in the Acceleration phase will be dependent on the specific team challenge (testing, scaling, other).
It all depends on the phase of the Growth Funnel. In the Discovery phase, team members are expected to spend a minimum of 40% of their time. In the Validation phase this goes up to a minimum of 50%. When they reach the Acceleration phase team members are usually working full time on their new business project.
Yes, it is possible to start with just the Discovery Program, a Validation Sprint or an Acceleration Sprint. Please refer to the respective webpages to get an idea of how the program design changes if you run a standalone sprint.