When you are given a business problem or you are looking for ways to develop and launch a new product or service and don’t know where to start, review the innovation methodology developed by iVia to learn how this robust approach to innovation can help you in your journey.
This hack was written as one of the requirements to obtain the Innovation Mentor Certification at CIMp. The CIMp program is part of iVia, The Way of InnovationTM, founded by the University of Notre Dame, Whirlpool Corporation, and Beacon Health System. Learn more at http://innovationcertification.nd.edu/.
The world has unlimited possibilities when you are in the beginning of your journey working on creating new products or services. You can see the end product and you are eager to place it in hands of consumers to test and use it, and, eventually, love it to acquire it. You are judged by the number of units sold or services consumed, by the revenue your product generated, whether the product sales covered the costs of the investments you’d made, and the strength of your business model. To be successful in your efforts to build this new product or service, you need to follow a process that helps navigate through pitfalls of product development, so you can learn and pivot early enough, before small mistakes or invalidated assumptions turn into large problems. This methodology can also be used as a framework for business problem solving. This article describes a practical application of the Unified Innovation MethodologyTM to new product development.