Phase 1: How to discover value?
Definition of the context & background
, concerning the internal and external perspectives to get a clear knowledge about the market, the product and the team;
Definition of the problem to solve or the challenge to address.
Phase 2: How to create value?
generation of ideas/solutions to answer the problem/challenge;
generation of criteria/filters to select the ideas/solutions.
Phase 3: How to validate value?
Key decision makers: Analyze previous ideas/solutions and rank the criteria/filters.
Phase 4: How to capture value?
Application of the Value Creation Funnel (VCF)
to narrow the number of potential solutions;
Drawing the concept and/or prototype
for the final solution(s).
Phase 5: How to consolidate value?
Operationalization: Go, No-Go or Go back.
If applicable, apply the 3Ms and/or a Business Model to support the final decision;
Identification of next challenges
& future partners.