What methods, tools, or processes do you use to develop new ideas or expand on existing ideas?
As someone that does a lot of new product development every year, I’m always interested and intrigued to hear what is working for another business owner. Additionally, is there anything in this area that leaves you feeling stumped or frustrated?
@Jef Lippiatt without question whatever I use has to be visual.
Have used a number of different methods and in some cases the good ole whiteboard is as good as anything!
The person with the idea is responsible for creating a presentation in some form. A document or whiteboard work fine. From there it's reviewed by the affected department heads, put out for all senior management to view and comment on, then we do a Managers meeting to hone it down to what will work best. It is again vetted by the department manager who will be responsible for inplementation, and is then put into action. It sounds laborious, but really only takes a week or two to get rolling.
Recently, expanding my knowledge on "Systems Thinking" has helped me understand problems better. After all, a new idea or product is an attempt to solve a problem.
I've noticed a trend of entrepreneurs trying to find a problem for their solution (ie cryptocurrency, AI), which seems to a hard way to come up with a new idea. Unfortunately, venture capitalists and investors have been driven towards these new solutions.