Melchers’ Post

Ever feel like every business idea requires starting from scratch? Not quite! At our company, we encourage a smarter approach – leverage existing successes. Here's why: by studying established products within your target market, you gain valuable insights. Dive deep into 3-5 products your customers already use. What features work well? What could be improved? Analyze their strengths and weaknesses. This market research isn't just about copying – it's about identifying gaps. Where can you offer a unique solution, a competitive advantage? Simply creating a "me-too" product doesn't offer much value. By understanding what already exists, you can innovate and address unmet needs. This approach saves time, resources, and ultimately, strengthens your business case. So, the next time you have an idea, remember: Avoid reinventing the wheel! Learn from the successes of others, then build something truly remarkable. #Innovation #MarketResearch

Struggling with innovation and new solutions? ➡️ Sometimes, you just need to ask ‘why' and ‘how’:  1️⃣ Why do that? 2️⃣ Why that way? 3️⃣ How does it work? 4️⃣ How do you adjust this? ⤴️ These basic questions unveil profound insights.  🔹 Understanding your customers and their methods is the gateway to their needs.  It's through this understanding that you can craft solutions that truly enhance their operations.  💡 Let curiosity guide your innovation journey 💡  #Innovation #CustomerInsights #ProblemSolving #CuriosityInnovation 

Creating a winning product begins with understanding the market and setting clear goals. By researching trends and truly understanding client needs, you can align your efforts and define clear objectives. Managing risks effectively is key—identify potential hurdles and plan accordingly. Stay competitive by continuously updating your products and analyzing competitors. Finally, a detailed roadmap will guide your journey. Learn more from our blog: https://lnkd.in/ePiVJy7j #ProductDevelopment #Innovation #MarketResearch #BusinessStrategy #Success

Innovator’s method consists of four steps to solve high-uncertainty problems and turn insight into a successful innovation: Step 1️⃣ Insight: savor surprises. Leverage the behaviors identified in our earlier book, The Innovator’s DNA— questioning, observing, networking, and experimenting—to search broadly for insights about problems worth solving. Step 2️⃣ Problem: discover the job-to-be-done. Rather than starting with solutions, start by exploring the customers’ need or problem—the functional, social, and emotional job-to-be-done—to be sure you’re going after a problem worth solving. Step 3️⃣ Solution: prototype the minimum awesome product. Instead of developing full-scale products, leverage theoretical and virtual prototypes of multiple solution dimensions. Then iterate on each solution to develop a minimum viable prototype and eventually a minimum awesome product. Step 4️⃣ Business model: validate the go-to-market strategy. Once you’ve nailed the solution, you’re ready to validate the other components of the business model, including the pricing strategy, the customer acquisition strategy, and the cost structure strategy. #innovation

🤔 Is there something missing from your business? 🧐 In the ever-evolving world of business, it's crucial to constantly reassess and adapt. Today, I challenge you to take a moment to reflect on your organisation. Are there areas that could use improvement? Are there untapped opportunities you haven't explored yet? 💡 Sometimes, it's the smallest changes that can make the biggest impact. Whether it's streamlining your processes, enhancing your customer experience, or embracing new technologies, there's always room for growth. Let's start a conversation! Share in the comments below what you think might be missing from your business, and let's brainstorm ideas together. 🚀 #BusinessGrowth #Innovation #Reflection --- www.assistedbybeasley.com

In a recent deep dive into competitor analysis, I've been reminded of a fundamental truth that similar products often follow entirely distinct product strategies, each rooted in its core values and business objectives. It's a fascinating phenomenon that every product carries its own set of core values, driving its identity and purpose. These values serve as the compass guiding their development, resulting in varied but purposeful features. Each product has a different core, the very essence of its existence. These cores, while diverse, coexist in the same industry, demonstrating how varied approaches can thrive. Even within similar domains, businesses with distinct visions and strategies can converge on similar products. This dynamic highlights the ever-evolving nature of innovation. This realization underscores the incredible adaptability that diverse product strategies often lead to similar, effective solutions, offering unique perspectives on shared challenges. #ProductStrategy #CompetitorAnalysis #Innovation #BusinessGoals #UniquePerspectives #IndustryInsights #productdevelopment

Unlock your creativity one question at a time. Every great idea begins with a great question—so what are you asking today? 💡🤔 #DesignThinking #Innovation #CreativeProcess

#Innovation can be a bit elusive. After all, it looks different across businesses and industries, making it difficult to decide how to drive it within your organisation. Getting it right is not about reinventing the wheel! It’s about understanding the different types of innovation (paradigm, process, position, and product) and determining which is the best fit for your situation. For example, say your customer service department is struggling to keep up with support requests. #ProductInnovation, where you develop a new product for your customers to purchase, isn’t going to help you. What you need here is #ProcessInnovation. You need to adapt or reinvent your operational processes to improve your workflow. This might seem less glamorous than product or paradigm innovation but both you and your customers need it for your company to move forward. Once you understand what type of innovation you need for a situation, you can come up with a tailored strategy that actually addresses the problem at hand instead of skirting around it. #InnovationStrategy

Let's put our ideas into motion and make a real impact! 💪✨ 🤔 How do you transform your innovative ideas into actionable solutions that create real value? Share your insights and experiences with us! 💬✨ #Innovation #IdeasIntoAction #CreateValue

How do you turn an idea into a digital solution that delivers results? This is one of the questions clients often bring to us, and we address it with a process that provides answers: #ProductDiscovery. We focus on uncovering user needs, validating concepts, and laying the groundwork for successful development, all driven by a strategy rooted in genuine insights. Here's how we do it 👇 #softwaredevelopment #innovation #technology