Business + Design
“The enterprise that does not innovate, ages and declines.”
– Peter Drucker
Limited time. Limited resources. Unlimited opportunities. These are the variables of decisions that can make or break a company or brand. Your innovation strategy ties directly to the long-term business strategy. What products, brands, and markets are growing? What are the major shifts in technology and consumer behavior? What is the most strategic path for profitable business growth? These are the business questions. The innovation strategy is the framework for how we invest our limited resources to best create more value for current and future customers. Companies without an innovation strategy waste time and money and even more important opportunity. No more “throwing spaghetti against the wall to see what sticks.” No more “pet projects” based on someone’s gut. Make the right “bets” on the right brands and the right products.
Innovation management is the business system that provides the disciplined approach to executing the innovation strategy. It is a set of processes and resources that manage the innovation pipeline and ensure the future of the business. How do you manage multiple development projects? How do you measure progress? How do you use your existing innovation capacity? How do you grow your innovation capabilities? How do you build a culture of innovation? In today’s market, one successful innovation won’t sustain growth for 10 years. What’s needed is an innovation engine that produces a pipeline of opportunities for sustained growth.
Product development is an expensive process. Prototypes are made. Production processes designed. Suppliers are vetted and contracts are signed. There is an enormous amount of up-front investment to launching a new product. New products fail because
A substantial part of the business world has no tangible products to sell. They sell expertise, process
How customers experience your brand matters more than ever. It increases the value of your products and services resulting in winning and keeping more customers. Whether it’s communication of your brand or the layout of your physical space. Human interaction or digital interface. Every touchpoint matters. At Pedal, we use human-centered design to gain insight into the dreams and desires of your ideal customer. Then we use that insight to design unforgettable customer experiences that increase the value of your brand.
The information that frames the design of new products and services is often limited to intuition and data-driven market research. Humans are complex and usually cannot express their genuine desires and motivations. We immerse ourselves in the world of the consumer revealing new opportunities to address their unmet needs and enable what they are trying to accomplish. This level of customer empathy provides new inspiration for products, services, and experiences that tap into the heart of customers.
Choosing the best growth opportunity for your business is a very critical decision. The choice to pursue one opportunity usually excludes many others. This decision shouldn’t be based solely on gut instinct or unvalidated assumptions. We lower the risk of this decision by incorporating macrotrends, analyzing the competitive landscape, and evaluating the total market potential. Then we compare the value of the opportunities against your company’s business goals and tolerance for risk to determine the best fit.
In a world that is changing fast,
Apple, Google, Netflix. When we think of these companies, we might think of the technology that they have designed that has shaped the world. The reality, however, is that their most profitable innovation in the last 15 years has not been technical. All three companies changed the world by innovating a business model. Apple changed the way we buy music with the iTunes store. Google changed how we search for information, by getting paid through intelligence-driven advertisements. Netflix changed how we consume entertainment by a subscription-based streaming. Can your business change the world, by thinking differently about how it makes money? Pedal business designers can help you find new ways to sell your products and services to customers. Ways that often generate more revenue and profit than ever before.
Companies with the best culture are winning in today’s marketplace. Businesses such as Airbnb and Warby Parker are creating work environments that inspire their employee’s work. Inspired employees innovate. Inspired employees stay. Inspired employees attract more inspired employees. Pedal helps company’s design a corporate culture that inspires. We love our work, and we want others to love theirs.