Innovation Snack 8 – It’s Story Time

It’s not a seven course meal.
It’s just a snack.
You can consume it in a minute or so.
But, it brings the flavor!

OK, let’s assume that you have solved a needed customer problem by creating a superb product solution. Good job on your innovation work, but you aren’t close to done yet.

To realize a return on your innovation you, of course, need to sell some product. To do that, you may need investor, bank, or internal financing.

To sell product, you’ll need a brand story targeted to your customers. The good news is that since you’ve done the work to understand the customer’s problem and then translate that into a kick-butt solution, you already understand much of what will go into your brand story.

To approach investors or lenders (or internal funders), you will need a business case story. And you have a head start on the business case, because you’ve identified the attributes of a compelling solution and built it out. Plus, that puts you in position to gain traction and confirm unknowns like pricing – two proofs that investors and lenders depend on.

Congrats on being well-prepared to achieve a good innovation return – provided you do more than “build a better mousetrap” – by communicating your good work to customers and financiers.

For a thorough guide to innovation techniques that will help you conceive and invent products that customers love, buy Steve’s e-book Made From Scratch

Published by Steve

I write and train about innovation, empowering entrepreneurs to build a better tomorrow.

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