Insights on How to Productize Services and Solution Offerings

One of my favorite shelter-in-place binge shows has been LEGO Masters. Teams of LEGO enthusiasts compete to build original creations, and with each passing episode another team is sent home until a LEGO Master team is crowned. The show is fun, the builds are impressive and the show inspired my sons and me to haul out our tubs of LEGO and make our own new creations.

We recently published a blog about how innovation thrives in uncertainty. Uncertainty introduces constraints which, in turn, force us to get scrappy and inventive. But many of our clients are concerned that it is hard to innovate and collaborate when many teams are still working from home.

I confess that I laughed when I saw this cartoon on LinkedIn the other day:

I was speaking with a CEO a few weeks ago who said his team was struggling with new product innovation. I mistakenly assumed that the team had too many ideas, could not prioritize and focus, and, therefore, were diluting their efforts. Lack of focus is a problem I’m seeing with a lot of clients right now.

Many of our clients have been asking us for advice on how to stay competitive in this rapidly changing world. Customer behavior is changing rapidly and, if they are financially healthy, your competitors are likely innovating to adapt to these changes. Other competitors may be struggling and could become acquisition targets for you to bring on new assets or new customers or both. How do we stay on top of all this?

Enter: Lean competitive analysis

Digital transformation is coming at lightning speed. Previously in-person services are being offered virtually. New digital products are coming to the market quickly. The way we do business is forever changing. 

For example, our video platforms and remote work tools have been a beacon of light while working remotely during the coronavirus.

The innovation I see right now truly is awe-inspiring.  For example, distilleries making hand sanitizer, software companies reconfiguring software to help hospitals track and manage COVID-19 cases,

“What’s the biggest new product development mistake you see companies make?” a client recently asked me.

I am sure you would agree, technology has changed drastically since most of us were in school, probably, even, since most of us took the jobs we are in today. Yet, despite how true this may be, the data says we aren't doing enough to help ourselves, our employees, and our organizations adapt to these changes.