“If I create innovation assets, then I can be monetized for my efforts, but I don’t know how to build assets.”
Information Assets such as market evidence, problem statements, business plans, features, roadmaps, requirements, and product launches are developed, and depending on which assets are used, will produce a very different product.
When addressing the development of Innovation Assets, one of the first questions I’m asked is, “Where do I start?” In a different blog posting, I can share a self-assessment and worksheet that will point you in the right direction. It will identify if you are experiencing ideation constraints, conversion constraints, or diffusion constraints; and point you to the correct assets to strengthen your process.
For now, let me explain the overall concept. The diagram above represents an information and asset flow pipeline. When clean, things flow through the pipeline without obstruction or constraint. The throughput of the pipeline (# information packets/time) is optimal.
When pipeline sludge builds up in terms of Ideation, Conversion, or Diffusion constraints, the pipeline throughput is lowered. The game is to identify the constraints, and then deploy processes that will break the constraint and develop the specific asset more competitively.
Now, it turns out that there are hundreds of ways to build any one asset, and depending on your constraints, one method is better than another. So yes, learning how to do market sensing from one of our courses will help, but gaining insight into what will improve your pipeline’s performance requires a little thought and a self-assessment.
You can learn anyone of these methods for Market Sensing, but selecting which one is the trick. If you’re learning it to improve the performance of your internal Pipeline, then you will want to focus on your performance constraints. If you are developing new market evidence assets to sell in GrandView, then you should do some market sensing, and anticipate the market demand, know how to satisfy your targeted market, and do a little competitive analysis.
Now that you know what type of asset you want to develop, and you know what for, you’re in position to get real value out of taking a course in Market Sensing, or from any of the other pillars.