Business development and commercialization
Finnish companies are often criticized for the lack of commercialization, while at the same time companies are praised for their leading technology, products and services. What would be a new way to promote commercialization of business models and offerings that are solving customer needs to accelerate new business growth?
Business benefits and results:
- Faster cycle from “idea to profitable business”
- Increased customer value and better business profitability
- Lower risk of failure in new business development
- Accelerated growth and stronger cash flow
Customer understanding is the foundation for commercialization
At the heart of commercialization is a deep understanding of market needs and customers. It is important to invest in understanding customer value in all stages of your business: from product, service or solution development to marketing, sales and delivery. Verifying customer value systematically ensures the needed feedback for development, marketing and sales.
We have developed business with a customer-oriented approach for almost 25 years. In most cases, it requires a need-based segmentation of the market and customers. Solutions and business models aimed for different segments should be differentiated, but only in such a way that the differences in business scaling stay as small as possible.
Our approach to business commercialization:
- Growing markets and customer needs. We analyze the market systematically and identify emerging needs. We define the market innovatively and are not limited to the traditional market definition. We select the target market based on its attractiveness and the competitiveness of the company, and take into account both short and long term perspective.
- Business model. When growing new business, often also the business model needs to be renewed at least in some respects. We analyze the development needs of the business model and support in the creation and execution of the renewed business model.
- Customer’s process and its financial drivers. When developing new offering, we map customer’s process and most important financial drivers related to it, often for different customer segments. We utilize your company’s existing documentations of customer knowledge and information based on the personnel’s experiences. At this stage we can often already estimate the customer value for the planned product, service or more extensive solution in euros.
- New offering. We design and develop a product, service or solution based on the understanding of customer needs and value as well as the inner strengths and goals of the company. At this point, we create basis for differentiation, pricing and earning logic, and crystalize value proposition.
- Testing and agile development. We test the designed commercial concept with selected customers either as a concept or pilot, and further develop the concept based on feedback to make it as competitive as possible.
- Partners. Execution and/or channel partners are often involved already in the previous stages. For more extensive customer solutions and new businesses we typically need to design an ecosystem.
- Partnerships and possible acquisitions. Growing new business may also require acquisitions in addition to partnerships. We can identify these needs and take first steps already during the project.
We cooperate in the areas described above in a number of alternative or complementary ways; we can offer consulting as a part of your project team, coach your project team, or do hands-on work within selected parts of development project.