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Existing processes, values and regulations slow down large organisations, often killing the speed required to successfully build and test products. This results in expensive projects, blow-outs in time and resources, and products or services no-one really wants. Large companies such as GE cut their cost of marketing validation for new ideas by 80% using rapid prototyping methods.
We help companies rapid prototype new ideas, and put them in front of real customers for real market validation and feedback in a matter of weeks, and sometimes, days. Using lean and agile methods, we're capable of testing numerous variables, resulting in a solution that is safe to proceed with.
Successful corporate innovation teams don’t just focus on building products that make money and create impact but also on not investing precious resources, money and time on building products that nobody wants to buy.
- 80% of new ideas fail at large companies.
- 70% of IT projects fail at large companies.
Why? Because of outsourced accountability, bloated teams and steering committees, compromised speed, increased complexity and features which ultimately leading to budget and schedule blowouts when benefits realisation often gets relegated to an afterthought.
We have run rapid prototyping campaigns for large, often regulated, organisations to help them quickly determine whether market appetite exists for a particular concept, but more importantly, generate new insights which often guide clients towards more compelling customer segments or concepts.
Innovation is not just about technology.
Often, the prospective return on innovation is often determined before a single line of code has been written or screw has been turned. It occurs when validating the size and importance of the problem you’re tackling, how effective or differentiated your solution is, whether you’re targeting the right customer segment, whether the price point and distribution channels make sense and ultimately, whether customers are willing to pay you a dollar for your product or service. Failure to get this right won’t be offset by a shiny piece of hardware or a sexy user interface for your app.
This is where we can help. By taking the early stage innovation off your hands and rapid prototyping for you, we effectively help you sidestep landmines inherent at large companies that serve to slow projects down and drive up costs, and perform tests to validate and/or invalidate assumptions underpinning your concept, problem, solution and other business model building blocks.
We then summarise our findings in a report and provide suggested next steps.
Save time, save money and unleash your talent on problems worth solving and solutions that customers will love. The flow on effect of an engaged workforce doing work that matters can not be underestimated.
1. Understand your objectives
2. Understand your concept and help refine it so that we have a clear picture of all assumptions and hypotheses underpinning your proposed concept and business model
3. Develop key metrics
4. Develop prototypes to test key assumptions which may take the form of problem and solution interviews, online ads and landing pages and ‘Wizard of Oz’ prototypes
5. Measure initial results and perform rapid prototyping based on this feedback
6. Cycle through steps 1-5 a number of times to generate the highest number of data and insights possible during the test period
7. Generate a report outlining key findings - validated and invalidated assumptions, and new insights
With offices in Singapore and Melbourne, we can provide this service across all of Asia-Pac.
We've heard it many times before, "it takes us months to build a prototype". However, in today's fast moving world, months won't cut it. Oftentimes, these prototypes aren't designed to test the fundamental assumptions underpinning market appetite or the proposed business model.
Our rapid prototyping engagements are designed to collect as much data on genuine customer behaviour and appetite before you invest, as well as uncover insights that you might have been blind to in order to better focus your efforts on higher potential opportunities.