Viable business model
The Business Model concept is increasingly applied in modern organizations as a way to understand, explain and communicate its short and long-term strategy. Its main goal is to describe how they create and deliver value in a profitable way. (Fuller & Morgan, 2010).
InoDev applied its methodology to the creation of a process that draws or redraws business models and tests them in the market, allowing them to learn and shape up to their real needs.
Inspired by the Lean Startup innovation currents, InoDev designed the Validation Challenge as the base tool which allows any business measure its market, its competition, its client and channels with real and not predictive data, facilitating the adaptation of the model business to this reality and complementary tools that allow you to optimize the company’s operations in all functional areas.
Lean principles lead a company to focus on an efficient development in order to reach its target and market as soon as possible. As Ries (2011) said, for a business that wants to innovate, these methodologies allow to capitalize on the advantages of being the first-mover.
The methodology allows InoDev do so through a scientific approach from the moment of business ideation to implementation and ongoing optimization through the following steps:
Analysis of the current situation of the company: internal and external analysis of the company (customers, suppliers, partners) and competition analysis.
Market and trends research, identification of the most favourable markets and respective legal and market conditions.
Brainstorming Ideas – Innovation Event.
Concept testing of ideas, using an MVP Lean.
Implementation – Implementation of the first official version, based on previous tests.