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Achieve results with innovation projects
Vision and creativity are essential, but in itself not sufficient to produce successful innovations. Many companies fail to translate great ideas to successful innovations. We help you to achieve results with innovation projects by bringing ideas to life from concept to commercial impact.
Why we do it
Vision and creativity are essential, but in it self not sufficient to produce successful innovations. Many companies fail to translate great ideas to successful innovations. Monitor Deloitte experience and research shows that many companies struggle to:
- Get insight in unfamiliar markets without revealing their strategic intentions. Embryonic innovation projects require the latest market insights and data – however those intentions could prove to be meaningless. Hence companies are looking for a discrete way they can experiment and explore new markets;
- Manage operational pressure and lift a project beyond the creative phase towards implementation. Innovation projects often require a second A team, because the best people are usually indispensible for running business. As a result innovation comes “on-top off”.
- Manage degree of uncertainty. Potential successful innovations are discarded because a company’s traditional mode of project management, planning and performance metrics are applied;
- Manage threat of cannibalization, namely anticipate the conflict of interest between innovation projects (future business) and current business (product/services) of the company.
How we do it
Experienced Monitor Deloitte innovation professionals and respective market experts, with diverse backgrounds, can assist you in bringing a wide range of innovation projects to fruition:
- Review landscape and ecosystem – Identify industry stakeholders, potential customers and their respective market challenges. In-depth insight in the “ins and outs” of target markets/industries based on relevant market data and insider information obtained through Monitor Deloitte network.
- Build consensus around offering – Prioritize focus areas (product/market combination) and value proposition based on technical assets and talent, establish a dedicated team to carry the project forward and build sufficient leadership support;
- Shape strategies, operating model and identify entry points – Detail key activities, partners, resources, customer relations and market entry channels.
- Validate the business case & go-to-market plan – Detail business model with financial plan (model to forecast cost &revenue streams), risks and rewards. Design and execute go-to-market initiatives.
What methodologies we use
While managing innovation projects Monitor Deloitte applies a unique method of Discovery Driven Planning that allow clients to steer innovation projects based on those critical assumptions that create, capture and deliver value for the company.
One of the most influential works on generating new business ideas in the last decade was “Business Model Generation”, by Alexander Osterwalder. Monitor Deloitte is an official practitioner of the Business Model Canvas, which is a pragmatic yet highly effective and comprehensive tool to design and think about (new) business models.
Monitor Deloitte has years of experience with supporting innovative start-ups and spin-offs in finding their way in the complex landscape of funding, tax and other government R&D incentives.
Monitor Deloitte’s financial modelling experts have a distinct and effective method to model financial flows, forecast revenues and determine potential return on investments specific to innovation projects.
“There where several internal and external parties involved. Many of whom experts, who tend to focus more on the technical aspects of the solution. Monitor Deloitte’s combination of innovation and industry experts really worked to connect the different disciplines and keep an eye on all aspects of the project, both technical and business.”
Jan Vercammen, CEO Egemin Automation