Problem To Solve

Opportunity is the fuel that fires growth in organizations of all types, be they businesses, universities, not-for-profits, or multi-enterprise collaborations. Creating or entering new markets, co-innovating with partners, building innovation districts or tech hubs – these are but a few of innumerable examples of enterprise opportunities to experience, learn, and thereby grow success.

In fact, the number of opportunities is not the constraint at most organizations, especially given the financial, social, and political dynamics in marketplaces today.  Opportunities, like ideas, are not lacking.  Rather, what is missing is clarity about what to do and why.  By extension, missing is organizational commitment to a practical starting point.

So, how do improvement-oriented organizations convert a compelling but general opportunity into specific decisions and action?  The answer is a straightforward, effective, and expedient process to assess, define, and prioritize – i.e., convert what may be a conceptual mishmash of thoughts and information into a get-started strategy and structure which drives consensus, decisions, and action.

Absent such a process, what happens at most organizations is one of three suboptimal scenarios.  The opportunity remains inactionable and missed, amidst business-as-usual priorities and budgeting.  Or the organization deliberates for months to analyze and plan, seeking implicitly to predict its way to success.  Or the organization rushes to action without defining what “success” really looks like or identifying the true customer(s).

And compelling opportunities are pursued inefficiently or missed entirely.

What is the best way to start decisively and productively on the right path to pursuing compelling opportunities?

Quick-Strike Opportunity Definition

The answer is a practical, low-risk, and cost-effective process that results in clear definition of what to do and why to exploit a new market, business, or collaborative innovation opportunity.  Properly executed, this quick-turnaround approach leads to consensus decision making, coordination, and path forward.

The Quick-Strike Opportunity Definition process consolidates dispersed thinking, ideas, and information, generating three primary outputs:

• Concrete answers to critical next-step strategic and operational questions
• High-level startup strategy
• Execution charter for an Agile launch team, including Backlog of get-moving activities.

The process taps internal reports, stakeholder interviews, and external research.  Output-building is accelerated and enhanced by generative AI (GenAI) tools.  The time frame is typically 3-4 weeks depending on need. 

(Note: The facilitating role of GenAI in this quick-turnaround process is illustrated by its application in the related Quick-Strike Stakeholder Engagement Strategy approach, described in linked article.)

In this approach, the Opportunity is validated and prioritized, while incorporating creative refinements and amplifications from those who will be involved in implementation.  The consensus startup strategy and roadmap are developed.  And an execution charter structures the ways of working for an Agile action team to get the job done.

The bottom line result is crystal clarity about the what and why driving the Opportunity, and consensus and alignment among the people, functions, and partners involved – who may not be accustomed to working together.

Experience indicates that Quick-Strike Opportunity Definition is most effectively led by an “innovation intermediary” – i.e., an independent external resource who works impartially across stakeholders, on behalf of collective insights and benefits.  Throughout, that senior person/team iterates closely with client leadership.

Two benefits result which can break any logjam around if/how to move forward with commitment:

• Consensus to decide and act across diverse partners, contributors, and stakeholders
• Operational structure and plan to organize productive next steps.

Example of Applying Quick-Strike Opportunity Definition

The opportunity assessment and startup strategy for a university-based innovation district is an illustrative example of Quick-Strike Opportunity Definition in action.

In this case, the university has received state funding to refurbish a large building into a multi-use innovation center.  The vision is to establish this anchor investment as the basis for a local innovation district that leverages the university’s translational R&D capabilities in certain biomedical technologies.

The building refurbishment is complete, and contracts are finalized.  The team must now prepare to launch the new asset, attract tenants, and incorporate the tech hub into a holistic Innovation District. The goal is to foster greater industry collaboration, retain university spinouts in the region, and grow high quality jobs — all which build the university brand.

The university engages an outside expert to lead a Quick-Strike Opportunity Definition.  The primary insight-gathering techniques are leadership and stakeholder interviews preceded by review of internal reports, and followed by benchmarking of ideas generated during the discussions (in this case, proof-of-concept and spin-out retention programming).

The engagement addresses four lines of inquiry:

1. Identifying hub and district stakeholders, and their aspirations, needs, and expectations
2. Regional resources, assets, and capabilities to be leveraged
3. Local and regional gaps to fill or accommodate
4. By extension of all above, the high-level strategy and startup pathway

The duration of this engagement is five weeks, by leveraging a quick-turnround methodology and GenAI tools.  Concrete outputs are a high level strategy for the innovation hub and innovation district, and a path forward and core team which drive operational priorities in the near term.  The startup pathway includes two “early wins” to build credibility, confidence, and momentum.

Call to Action

Organizations today do not lack opportunities to improve and grow.  Instead, what is usually missing is the practical means to assess, define, and prioritize – and thereby convert ideas into decisions and actions. Quick-Strike Opportunity Definition fills this gap.  The process clarifies what to do and why, and creates consensus around the best starting point and path forward.

Your next step could be consideration of an external innovation intermediary to generate early success with a straightforward, low-risk, and cost-effective approach that puts you on a concrete path to pursue new opportunities with clarity and commitment.

© OIC Innovation LLC 2024