From idea to market

Coming up with good new business ideas is difficult and nurturing new business ideas, even the best ones, into flourishing businesses is even harder. New business development can consume considerable sums of money and limitless amounts of working hours, but the return on these investments is not always encouraging. In order to avoid such pitfalls, firms should ensure they have a clear approach to new business development. Are we seeking business ideas that support our current core business, complement it, or even proactively undermine it? Is our philosophy “fail fast” or “give them time and independence”?

Vectia helps our clients in generating new business ideas and in developing them to market particularly in the following situations:

• Need to find new tangible business ideas
• Developing business ideas into profit-generating businesses
• Extending the lifeline of an existing product or service
• Increasing the competitiveness of an existing product or service
• Need to revise the way the new business development is managed and organised

Combining structure and creativity

We believe in both-and thinking when it comes to generating new business ideas and commercialising them. Firms should utilise both fact-based analysis and experiential innovation events in creating new business ideas. The commercialisation phase requires both entrepreneurial independence and managerial structure.

When generating and commercialising ideas, the following topics are usually covered:

• Generating new ideas in experiential innovation workshops, InnoLabs
• Synthesising and assessing the new business ideas: which to take further in the commercialisation process
• Creating a business plan for selected new business ideas
• Reviewing the product or new business development portfolio
• Creating tools to follow-up and manage individual commercialisation projects
• Creating tools to manage the product or business development portfolio