How do you turn a great idea into a successful launch?
We look to explore this very question in a series of events, the first of which we hosted in late February, “Ideas to Innovation: Workshop 1 – Ensuring Buy-in.”
The event was a great success – and with such a hot topic – we had a great turnout. Our very own Ben Hayman and Rich Murkin led the event, and touched on a number of key do’s and don’ts.
Many of our clients feel that getting internal buy-in for a concept is the most difficult part of innovation. It is easy for an idea to lose momentum or to become diluted with time, so we wanted to highlight some of the key areas to bear in mind, and share some stories and insights from a panel of experts, to help make concepts more real.
It is vital to engage both internal and external stakeholders when trying to obtain buy-in for an idea – if these people don’t “get it,” then it’s a sure failure from the start. The idea must be “bulletproof,” clear and concise, but with a hook. The concept must also be irresistible to internal audiences. If it doesn’t have the backing of your peers, you’ll have an uphill battle; make it evident how and why you think it will work. Make it attractive!
It is also imperative that, whilst maintaining the integrity of your idea, you must build a commercial case and make it viable. If you’re too close to it and too attached to the idea to be flexible, there are going to be stumbling blocks. No idea in isolation is perfect, and without input and help from others, it is unlikely to get off the ground, so negotiation can be key. A great idea is only that, if not suitable for the current market. Knowledge of the intended customer is invaluable, so that you can build on the concept and take it right through to a successful launch.
At times, sadly, we must also admit defeat. It is important to remember that sometimes we must let go. Not all ideas will be fruitful. To ensure you have a healthy perspective with regard to the “big picture,” it may be advisable to let someone else nurture your idea, so that they can move it forward without too much emotional investment.
The event stirred lots of debate around the subject, but what was most apparent – and a recurring theme – is that the consumer must be at the center of all decisions. Without a market, no idea, product or service has any capacity. The market is changing quickly and it’s more vital than ever to stay ahead of the curve, and, in turn, your competitors.
We very much look forward to continuing the debate at the next event. Stay tuned…
For more information about buy-in, innovation or future events, contact Nicole at firstname.lastname@example.org.