Setting up an innovation project: The innovation pyramid

We discussed, In the first part of this series of 5 articles on the innovation pyramidIn the first part of this series of 5 articles on the Innovation Pyramid, we discussed the findings that led us to the implementation of our approach to structuring innovation projects. In this second part, I will explain the philosophy behind this innovation pyramid approach.

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The innovation pyramid is first and foremost a philosophy

This pyramid is a simple but very effective symbolic representation of the innovation process. It is representative of the major steps that allow the structuring and securing of an innovation project and has proven itself time and time again with our clients. It takes up the major founding attributes of our approach by distilling the essence of an unstoppable approach in a striking and graphic way.

Building a stable base for our project

Starting a new business is like being an explorer on the high seas. You sail to uncharted lands but the journey is not easy. Sometimes the sea is rough and the storms roar and gales are not rare. It is better to have a solid and stable boat. On land or for your project, what could be more stable than a pyramid? The Egyptian achievements, in any case, will not make me lie. The innovation pyramid is our plan to properly lay the foundations of an innovation project, to secure its potential before starting its execution and the often substantial expenses associated with it.

The path to your goal

It is composed of 3 successive levels leading to the top: the development of the project itself. Each of these levels represents a fundamental brick of the project to secure before launching into its development. They must be taken in a specific order leading to the construction of the future project. Just as we start by building the foundations before the roof in a house, we follow the same reasoning here. First the problem, then the solution and finally the associated business. The "Problems" stage first, which we call here "Pain points", and which consists of basing our project on the existence of an important frustration for our target. Frustration which, if we manage to solve it, will ensure us a strong interest of the impacted segment. The solution then, which is there tosolve the identifiedpain point and which will have to be confronted with users to verify its adequacy with the chosen pain point. Finally, the business, which is the way we will generate money with our solution by bringing value to our target market. Here again, we will have to verify the market's appetite for our value proposition and the associated business model.

The truth is not in your office

Admitting that we don't know in an innovation project is a big step towards success because it forces us to question our often false certainties and to look for the truth where it is found: with users, with consumers. Each step of the pyramid is meant to be outward-looking, whether to collect, validate or challenge the ideas and hypotheses we will be led to pose in the process. Let's start from the definition thatinnovation is to bring a solution to a burning problem - a solution that will find an echo on its market and thus create business potential. So, whether we talk about the problem, its solution or how to make money with this solution, in all cases, it is in contact with the user and then the customer that the answers are found.

The judge of peace is the market

To finalize the construction and before any consequent investment in the development of the product or service imagined, it is necessary to sell its concept to the market. This market test is the judge of peace. It allows the final validation of the concept.