Manage the development of new products and business models and align innovation with your business strategy.
Within our model, there are three types of key performance indicators (or KPIs) each company should be tracking for innovation:
Reporting KPIs are connected to Innovation Practice. These focus on product teams, the ideas they are generating, the experiments they are running and the progress they are making from ideation to scale.
Governance KPIs are connected to Innovation Management. The focus here is on helping the company make informed investment decisions based on evidence and innovation stage.
Global KPIs are connected to Innovation Strategy. The focus here is on helping the company examine the overall performance of their investments in innovation in the context of the larger business.
Activity metrics focus on how busy the company has been with innovation. They measure the level of innovation activity going on (e.g. number of new products launched, number of experiments run, ideas prototyped). In contrast, impact metrics measure the tangible results that are emerging from this innovation activity. Revenue and profits are the ultimate measure of impact.”
Our newest book on measuring your company’s innovation ecosystem
The 3 KPIs you should measure to start with innovation accounting
How to start with innovation accounting? We start with measuring the following three innovation KPIs from corporate startups.
Introducing the NEXT Canvas
The NEXT Canvas visualizes the four types of proof an idea needs to become a profitable business model
Innovation accounting and portfolio management
The other week at the Lean Startup Summit I introduced our ROI calculator in a couple of innovation accounting roundtable sessions. The sessions were overbooked
The 24-month journey to product/market fit
How long does it usually take to go through all four phases and what type of investment fits every stage?
Introducing the Startup Progress Barometer
How we define the progress of startups towards product/market fit Ever since we introduced our NEXT Progress Canvas, we have been thinking about how we
The result of our summer break is online!
NEXT summer hackathon MVP The summer is getting near the end, most of you have been on holidays or wel deserved breaks. We have been
Progress board: tracking learnings over time
This is Part 2 of our Innovation Accounting series. For the sake of learning and progress it is important to be able to keep track
Introducing our innovation accounting framework
This is Part 1 of our Innovation Accounting series. We have talked about the importance of Continuous Experimenting and working on a sustainable business model,
