Will Crypto Currencies Replace our Current Currencies?

Even though Bitcoin, the first crypto currency, was already invented in 2009, recently some headlines appeared in the media indicating that some crypto currencies are becoming mainstream currencies. Some reputable investors and banks announced to invest in Bitcoin, intermediaries like Paypal allow to pay in Bitcoin and some corporations like Tesla and MicroStrategy store their

How to Manage Risk in Innovation

Innovation is a risky activity. There are many examples of technologies or products which failed in the market. Also there are many examples of innovative companies which failed or went bankrupt. So the question is what can be done to minimize risk in the innovation process? This blog discusses the concept of risk, how to

How to create Value by Addressing your Existing Customers

When selling products or services, most people think about selling to new customers. This is especially the case for companies with a new product or service. However, value can also be created by selling to existing customers. Selling to existing customers is much more efficient than selling to new customers. This blog explains how value

Using the Sales Funnel to Boost your Sales

Companies that are unable to sell their products or services will fail. They will not generate the revenues that cover their costs. But for some companies, especially technically-oriented companies, selling products can be a challenge. What activities do you need to undertake when you want to sell your products? Who is involved in what part

Engaging Stakeholders for Success

When you manage your innovation project, it is important to engage your stakeholders. Stakeholders are persons who are able to influence the outcome of your project or are impacted by the outcome. When you neglect your stakholders, it can mean that some stakeholders will oppose your project, resulting in less effectiveness or even complete failure. This blog presents

Re-think your design with Design Thinking

Sometimes products run out of traction in the market, because all products look the same and hardly any innovation takes place. In this situation it can be beneficial to re-design a product in order to create a new impact in the market. Design Thinking is an effective approach to help you doing this. The result can

What is the Scientific Method?

Science center NEMO (1) is the largest museum of its kind in all of the Netherlands. This exciting adventure of an educational center has five floors that are jam packed with interesting hands-on exhibits that will catch the attention of visitors of any age. When I visited this museum recently, I came across some very

How to deliver good Quality in Digital Innovation

Good quality is an important attribute of products. When products do not meet the quality expectations of customers, customers will start to complain and do not buy those products in the future. Traditional quality management methods, like Total Quality Management and Six Sigma, have proven to be very successful for traditional hardware products in stable

Creating an Advantage with Modularity

When creating a new product or service, it is frequently unclear how the exact market for such a product or service looks like. This is especially the case for disruptive products, for which there is no market yet. In this case it could be beneficial to create a modular product, which is flexible enough to

How to use Design to Differentiate your Product

Design is one of the attributes of a product. The importance of design depends on the expectations of the customers in a specific market. In many markets, like household appliances, clothing or cars, design is an important attribute to compete in that market. Without an attractive design, it is harder to sell products. But how