After an initial selection phase of ideas made with the help of the Vision Canvas those with the most promise should be included within a subsequent in-depth phase.
This phase, which we might call Exploratory, is indispensable because it is important to remember once again the difference between invention and innovation:
- Invention is the creation of a new idea or concept.
- Innovation is defined as the process of transforming a new concept into commercial success or widespread use.
From this comparison, it is easy to see that the underlying goal of companies is innovation, and that invention may eventually be fostered by the innovation drive.
The goal then of the exploratory phase is to deepen the level of innovation of the ideas that passed the first evaluation filter with the Vision Canvas.
To do this, it is appropriate not to begin any product concept development but to delve into innovative product aspects that go far beyond technical features. I find in this sense very powerful the Lean Canvas developed by Ash Maurya that through 9 topics helps us focus a business plan in a participatory mode. This is because Canvas is a tool that facilitates the involvement of product and market expert people who together can provide a concrete answer to each of the 9 questions Canvas poses:
- Problems It Solves
- Target customers
- Unique Value Proposition
- Characteristics of the solution
- Channels to the customer
- Revenue Streams
- Cost structure
- Key Metrics
- Unfair Advantage (which cannot be easily copied or bought)
As can be seen, the topic ” Characteristics of the Solution” is only one of 9 topics, and does not constitute the Product. Ash Maurya reminds us that the most common mistake is to focus on the Solution, while the entire business model is the Product, which includes the Solution.
The most important question Canvas asks is the central one that asks what is the Unique Value Proposition of what we are analyzing. In other words, it allows us to identify what is the most valuable element that differentiates the product from its competitors. The unique value proposition is also most important at the marketing level because it prompts concise formulation of differentiating elements, even in terms of slogans.
In this way, one is prompted to evaluate aspects related to innovation concepts, rather than the search for inventive solutions, which if they promote the value proposition are welcome.
Inventive solutions are possibly described in Section 9.
It is appropriate to manage this exploration phase with a separate project because the exploration process can be very lengthy, requiring several updates before this exploration can be considered enough to initiate a project to develop a new product and/or service.
An Exploration project can be very quick when the product to be developed is known and the market mature, but it can be very long when the product is very innovative and the market yet to be explored.
The Lean Canvas can therefore have a rather long life, in the sense that it can be worked out in a very preliminary form from 1 to several years before development begins, when there is still very limited product/market knowledge.
If this initial analysis yields only partially promising results then it is advisable to give yourself time to better focus on medium-term product goals (6 months, 1 or 2 years) before starting development.
If the data collected are not yet sufficient, it is necessary to wait for things to mature to a short-term horizon (usually a few months to 1 year). At this point, product knowledge is high enough to initiate development, provided the desired margin conditions are in place.
Referring to the work “Innovation @ 50x in Companies and Government Agencies,” an article published by Steve Blank on August 21, 2015, one can therefore think of the lean canvas as a dynamic document that evolves over time.
One can weigh in at 3 evolutionary levels of a Lean Canvas that measure its maturity
- Exploration
- Extension
- Execution
When the level becomes executive then the Exploration project can be considered completed and thus the product idea can enter the portfolio of products/services to be developed.
