subject: Steps To Develop An Innovative Solution To A Problem [print this page] In todays market place just creating new products wont work, but its about discovering completely new markets that meets previously unknown and untapped customer needs. Now in the age of Internet commerce the act of innovation becomes an even greater challenge.
The driving forces behind innovation previous technology, control of quality & cost have shifted away from issues of efficiency and are now solely focused on the creativity and growth of the organization towards a future state of competitiveness.
A perfect example is mobile payment via smart phone. Mobile payment has provided convenience to shoppers by preventing them to carry around credit cards and other means of payment. This mobile payment proliferation among startups is evidence to reach consumers through expediency and ease of use.
Steps to develop an innovative solution to problem
Regardless of the size and scope of your organization, customer-centered companies looking to innovate for the modern consumer might consider the following steps
Figure out the right problem:
This step is a crucial one. First make sure that youre trying to solve a problem that doesnt have priority in the eyes of your customer, try to find a solution to the right problem. This can be done by asking the right questions & by observing your customers needs.
Asking simple questions can bring big changes, like what does XYZ company do better than us? or whats missing from our product or service that would make it better? This can make you go a long way towards defining your direction at this stage.
Analyze the Problem:
Now in this stage you have to turn the problem upside down & inside out, extract each & every variable & find out the problem. Then focus on how often the problem occurs, how severe it is, its potential causes, also if any special circumstances occurs.
Another primary focus has to be the time frame How long a problem occurs? Is it getting worse with time, if not is there any other factor that could cause it to do in the future? These would few primary factors you have to correct.
Decision Making:
Make good decision factor. Which of the criteria is most important? Will the decision be based on the existing standards or any unique values that can be used? Clearly define the desire that leads to purchase intent & identify every decision that factors into the decision making process.
Have more than one Solution:
At this stage your goal is to leave a more valuable solution on the table. Dont stop with the first solution itself. Instead keep evaluating alternative scenarios as much as possible. Assessing the pros and cons of each ensure that the solution youre pursuing is the most competitive & profitable one.
Pick the Best:
After evaluating all the options & values, you have to choose the most customer-centric solution to move forward. Only then you can develop a base of support within your organization & prepare for any internal or external contingencies process.
