Category: Opinion

4 Easy Ways For Small Businesses To Slash Product Development Costs

4 Easy Ways For Small Businesses To Slash Product Development Costs

Every year, thousands of new products are launched by companies all over the world. And yet, the ones that stick out in the average consumer’s mind belong to a minority of companies that maintain a sizable market share. We’re talking about the global giants in different industries: Apple, Toyota, Unilever, Amazon and more.

These giant companies may only launch a dozen or more new consumer products per year and yet they get all the attention! The other (vast majority) of new products are launched by small businesses. They have to fight for the scraps of what’s left for market share … Read More »

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Nurture Your Business With Innovation Management: 5 Keys to Success

Introduction About Innovolo

Innovolo Ltd is a U.K.-based product development and design consultancy team. We eat, sleep and dream of innovation. As a team of creative problem-solvers, designers and engineers, we love to turn ideas into a reality and help promote innovation by collaborating with exciting businesses.

When a project needs an extra resource or when a business is facing a critical phase of growth, we can help solve the complex problems and simplify the innovation process so that they can create excellent and exciting new products.

One of the biggest barriers to innovation that we witness is a lack … Read More »

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8 Principles to Promote Innovation

Here are 8 Key Principles To Promote Innovation in Your Organisation – Even During A Pandemic

Did you know that you can run a well-established business without ever having to innovate?

It’s true. You can copy a template from a successful business in a neighbouring region. You can surround yourself with hard-working employees. You can have amazing relationships with exclusive vendors. You can nab top-tier clients for your products or services. Each of these principles doesn’t involve much innovation.

If you’re in that category, and you’re happy about where you’re at, then this article isn’t for you. BUT if you belong to a happy subset of companies that want to explore growth opportunities and offer groundbreaking … Read More »

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Unlimited Innovation-as-a-Service_Static Page

4 Pathways To Innovation explained: Look at the risks and see what’s best for your business

Where does innovation come from? It’s a simple enough question but one that requires some deep thinking to come up with any meaningful answers. To make matters worse, the answer is embedded in complicated business processes.

Sure, it’s easy enough to say “let’s innovate!” But how do you actually get there? It’s important not to confuse innovation with ideation. The latter is the process whereby you (or other small-and-medium-sized enterprises) brainstorm new ideas to help your business. Innovation, on the other hand, is the successful implementation of a new idea or concept. Following through with proper execution is the biggest … Read More »

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Drive Business Value Through New Product Development and applying the Innovation Value Pyramid to your organisation

Drive Business Value Through New Product Development

In today’s business markets, new product development is often seen as a stepping stone for transformative growth and enterprise value. We often think about innovation as an important element of a business’ credibility. It can heighten a company out of obscurity and cement it as a household staple in the eyes of consumers.

New product development isn’t only good for consumers, though. In this post, we’ll show you why launching successful new products can also be a catalyst for inspiring new investments in your business. Whether you’re looking to take your enterprise public or if you’re on the hunt for … Read More »

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We Applied 10 Design Principles To Business Strategy

We Applied 10 Design Principles To Business Strategy. Here’s What We Found Out

Today we’re trying something a bit irregular – we’re taking 10 famous industrial design principles and applying them to business strategy. Because, why not?

The principles were talking about, specifically, are those pioneered by German industrial designer Dieter Rams. If you’ve never heard of him, that’s okay, we’ll cover all the basics you need to know.

We have lots of ground to cover, so let’s jump right in!

Who is Dieter Rams?

Dieter Rams is a German industrial designer. He created designs for consumer products in the past five decades that probably inspired the products that you still use today. … Read More »

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Corporate Culture is Dead! Long Live Innovative Culture

Corporate Culture Is Dead. Long Live Innovative Culture! Here are 5 proven ways to create an environment that will rocket your equity value like nothing else

When you think about “corporate culture” you may think about a drab and stuffy office space where dreams go to die. These are the images often satirized in TV sitcoms and Hollywood comedies.

But when you think about “innovative culture”, your mind probably takes you to wild places: automated offices, futuristic napping pods, and splendidly wacky brainstorming rooms. These are the images popularised by Silicon Valley startups and tech companies from the mid-2000s.

However, these images are just the physical spaces. Real innovation happens at the cultural level of the workplace. Few workers, managers, or leaders realise the challenges and … Read More »

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The World of Corporate Innovation Is Evolving: even if you’re not Elon Musk or Steve Jobs, here we explain what it means for you and your business.

As a business, it can be difficult to make the right decisions. It can be challenging to even identify all the options. If you’re a business owner, you’re distracted by competing priorities. If you’re a corporate board member, you’ve faced issues like bad data and difficult relationships. In either case, pointless meetings are a norm that doesn’t seem to push your business to any new heights.

The reality is that businesses can sometimes be giant, floating leviathans. They’re hard to steer in the right direction due to chaotic priorities and complicated processes. But these symptoms are tell-tale signs that a … Read More »

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How Much Should I Spend On R&D and Product Development?

How Much Should I Spend On R&D and Product Development?

Many business owners look for that “Holy Grail” statistic that gives them all the answers. It’s true in all sorts of situations, like “how many staff should I hire?”, or “what price should I charge?”. Trying to predict these answers as a universal truth is a difficult (if not impossible) challenge. For the most part, it all depends.

The answers to the all-important questions can depend on the type of business, the size of the business, the industry in which the business operates, and the business’ stage of growth or maturity.

In this post, we answer some common questions when … Read More »

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The Top 10 Reasons That New Products Will Fail Next Year

While we’re all for positivity here at Innovolo, we also appreciate the benefits of looking at failures to inform future success.

That’s why we’ve compiled this list of the top 10 most common reasons that new product ventures fail. If you’re in the early stages of product design, be sure to use these lessons to inform your roadmap to launch!

Lack of Product Necessity

Before going any further, ask yourself: is there a need for my product in the market? If not, then it won’t sell or succeed no matter how much effort or investment you put into it. This … Read More »

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Who’s Afraid of the Failure Crocodile?

“If you want to succeed, double your failure rate”- Thomas J. Watson

We tend to look at failure like a hungry crocodile; dangerous, destructive, and something to avoid at all costs! But…embracing failure can become your business’s competitive advantage. Build a culture that celebrates mistakes! If you’re never failing, you’re probably never really winning either.

Use failure to set the foundation for how you approach everything you do.

If you are daintily tip-toeing around the Failure Crocodile and find everything you do is working, well, then you most certainly aren’t taking enough risks. And probably in that zone which is … Read More »

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Tips and Tricks

How You Can Design Products Remotely During Lockdown

The year 2020 has forced many businesses to ask themselves one important question: “Can you really go about your regular business using only remote technologies?”

The COVID-19 pandemic has forced many enterprises to cease in-person interactions and revolutionize the way they get their work done. The same is true for product development teams. In this blog, we want to share some of the insights we’ve learned from years spent developing products with the help of remote technologies.

Why should you trust us?

At Innovolo, we’ve been using virtual technologies long before COVID-19 forced the world to comply with a new … Read More »

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Innovation and The Leap of Faith

Having the courage and ability to take a risk.

Taking a risk in business or in any way of life is a scary thing to behold. For sure, we could spend hours just talking about the ‘what ifs’ or the ‘but what then’, however when taking the leap of faith into Innovation, we need guts. Guts to commit to an innovation programme.

At the end of the day, it might not work. There’s what we call a leap of faith. When we’re going into an innovation programme, we need that leap of faith when jumping from the downward curve of … Read More »

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Innovolo White Paper - How to Build Value into Your Business Using the Innovation Value Pyramid

How to Build Value into Your Business Using the Innovation Value Pyramid

This entry is part 1 of 1 in the series White PapersIntroduction

Resources, time, and investment are considered important factors for ensuring the accomplishment of the activities in the working environment. However, the integration of values is also important for driving business growth and success (Ndalamba, 2018). There are many more reasons why building a sellable business is worth the time and effort it takes up front. After all, a sellable business is also a growing, stable, and profitable business that doesn’t rely on the owner for its daily operations, something every business owner wants, regardless of when they plan … Read More »

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The Ins And Outs Of MVPs How To Avoid Feature Creep In Your Product Development

The Ins And Outs Of MVPs: How To Avoid Feature Creep In Your Product Development

There’s a lot of steps on the way to launching a new product. Not only do you have to research the market, make a plan, and decide on the selling points, but you also have to somehow keep your project on track until completion.

Who’s got the time?

Worst of all, your new product development is under constant threat of something known as feature creep. It happens when your product gets bloated with tons of ‘amazing’ features although it’s impossible to integrate them all successfully.

In our experience, the best way to simplify the process and efficiently manage your product … Read More »

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