Innovation Observatory specialises in helping clients to find, characterise, test and capitalise on new business opportunities. This means bringing together the right mix of skills and insight.
Finding new business opportunities requires observation and analysis. It involves helping clients to understand what is going on in the markets they serve, and giving them an external perspective on how they are currently positioned. It means demonstrating how their own and adjacent markets are likely to evolve, and identifying opportunities that are emerging as a result of those changes. It also entails understanding the client's unique set of skills, knowledge, resources, culture and ambition, as they will all have an enormous impact on a firm's ability and desire to innovate in any particular area.
Characterising business opportunities means defining them, and measuring them. How big will they be? How fast will they grow? Where can the hot spots of demand be found?
Testing business opportunities requires market research. Depending upon the sector this might encompass research with consumers, businesses or public and third sector organisations. It might entail telephone, web, or face-to-face surveys, focus groups or workshops.
To exploit business opportunities, clients must fine tune their product or service ideas, work out the best ways to fund, develop and sell them. They need to identify the best hooks to use to sell into to different market segments, and the optimum channels into those segments.
Our consultants are experienced at helping clients in all these areas. We use a range of products and services which can all be tailored to individual client requirements. For more information you can contact Innovation Observatory directly here.