In an innovation process, it is important to generate attention worthy ideas. This is the reason why businesses should pay attention to getting more people involved with the brainstorming process. The more people involved means the greater likeliness of generating quality ideas that can potentially earn business profits and contribute to overall growth. However, it does not end with idea generation. As a matter of fact, this stage is just the beginning.
Upon getting all ideas in, it becomes a challenge to select the most viable idea that can become the center of a new project. With a plethora of ideas at the table, it can be quite difficult to determine the one that can bring about positive changes to the business performance.
It is not just about picking something randomly. Every idea has to be duly evaluated but the one that deserves the attention should be carefully handpicked using factors and methods that are relevant to the business. With this said, here are some of the items that have to addressed in the process of idea selection.
First off, decision makers have to identify the idea that is best fit to the current innovation strategy in use. It is important that the idea blends well perfectly. It has to be one with the current objective and would match fairly to the company’s existing strategy.
Another important factor to consider is whether the idea can truly create value for the end consumers. At the end of the innovation efforts, results are expected. It is not just about coming up with a new product or service.
It is about creating something that is relevant to the current market. It should be something that has a potential of becoming well received and accepted by the people who matter the most to the business. That is the consumers.
In relation to value creation for customers, is determining if there is a viable or potential demand for the innovative idea upon its completion. And it has to be a sustainable one. After all, banking on an innovation project requires investment. And the potential outcome of the project should be nothing less than successful.
Before the completion, the idea has to be presented to the key decision makers in the company and those are the people in the management. For the project to push through, it has to gain the support of the management. And this is a factor that should be weighed in as well at the stage of idea selection.
Presenting this idea and innovation may not exactly become convincing and encouraging. And this is where rapid prototyping technology comes in. This is a method used by businesses to come up with a tangible material that can give justice to the innovative idea selected.
With a prototype at hand, the idea can be communicated much more effectively and convincingly, thereby, increasing the chances of getting a nod from the management. But rapid prototyping not only helps with presentation but also with making the development more efficient as it becomes much easier to identify flaws and areas for improvement with a tangible product in the form of a prototype.