Establishing core value & impact

- Establishing the Core Value &
Impact of your idea or product –
(course PV1)
By Simon Brightman, Co-Founder & CEO
AcceleratorU

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©Product Accelerators International Inc. 2012-14

Learning Objectives
Upon completion of this course, you will be able to:
• Conduct a successful core value & impact assessment of your
own idea or product
This will result in a clear understanding and articulation of what
problem you are solving and why your product should in fact exist

• Successfully rally yourself and other close stakeholders around
the resulting impact you will have with your product
This will result in strengthened support for the initiative and
journey your are on


Agenda
• Why this step is critical
• Articulating the Problem
• Understanding the Barriers
• Defining the Value & Impact across horizons
• Applying this to your own idea or product
• Next Steps


Why this step is critical
• Most people start with the functional aspects of their ideas
or products
• This is natural, but unfortunately wrong

• Causes a false sense of progress as things are “being built”
• People end up spending money too fast and on wrong things,
over complicating matters, taking longer to make progress
and usually miss the true mark


• Starting with a solid Value & Impact analysis and articulation
removes the noise and allows to refocus on the true essence and
align all pieces around this
• Saves time, money and reduces risk. You will actually move faster
• Establishes your raison d'etre, your reason for pursuing this path.
You will come back to it as you proceed and it will keep you aligned
and true
• It is truly foundational to properly validating your idea or product
• Previous work on core values can be used, but go through this as
noted. Do not skip it


Let’s get going!


Articulating the Problem
• While it may seem obvious, too many people skip over this,
assuming that what is in their head…is enough
• This forms the basis for your further extensive work

• Do not rush this and jump too fast. Follow the outlined
process
• You will feel frustrated and excited throughout, which is good


Step 1:
• Define the problem from an individual person’s perspective,
then broaden outwards from there

• We are actually going to draw it (don’t worry, no advanced
graphical skills are needed)
• Start by defining who the person is. Spell out their main
attributes (e.g. age, gender, other key attributes we know)


An Example
For metropolitan dwelling parents and guardians that dropoff and pickup kids, there is a daily “emotional ride” to avoid
delays given the highly variable traffic patterns in their city.
This causes unnecessary stress that should be avoided simply
by knowing how long travel will really take and planning
accordingly


Step 2:
• Explain using very simple language what the problem facing
this person is. Then draw this


• Additions to the example to be inserted, showing who the
person is and now what the problem is


Step 3: A few key questions to honestly ask, and answer:
• Is this a real problem?
• Is it a compelling problem?
• Is it pervasive/affecting a large population?


Exercise 1
• Try this out for your own idea
• Use the example as a live reference
• We recommend you do this after running through the entire
course a first time


Barriers to a Solution
This part is where we ask:
• How is this problem being addressed today, if at all?
• What is preventing people from having a solution today?


• We will add them to our drawing to form a clearer picture
• This will help highlight the current market status
• When done well, it will yield the start of your key
differentiation point/s to be used later on

PRODUCT ACCELERATORS
Start Accelerators International Inc. 2012-14
©Product Smart. Change the World

• Additions to the example to be inserted, showing what the
barriers are
• Multiple data points needed to grab everything relevant


Exercise 2
• Add these barriers to your own idea
course a first time


Establishing Impact
• In this part we establish the Impact & Value to clients
• We will use the results of the previous work
• We articulate the Impact & Value across three horizons –
Short, Medium & Long Terms
• We will seek to quantify the impact. This does not have to be
scientific, but we should be able to measure it


Establishing Impact
• This is essential to designing and creating a truly compelling
solution, and not just a quick fix that may sound great but
could disappear overnight
• Most people focus on only one (usually short or long terms)
• Its not easy but a great and sustainable solution (and
eventual product) will have multiple impacts over time


Establishing Impact
Some guidelines:
• The timeframes are not scientific but should be used as
directional guidelines

• Short Term (within the next 30-90 days):
• People are focused on their own/immediate needs and
issues. That’s just the way it is. No sense fighting nature.
• So, in the short term, we seek to understand how it
affects the individual and their immediate environment.

Establishing Impact
• In the Medium Term (3 months to a year+), how does it
affect my community and broader environment?
• In the longer term (over several years) how does it affect
society, the systems at play, the environment, government
etc?
• Have we articulated the impacts such that they can be
measured?


Establishing Impact
• Insert Exercise/example table to illustrate
IMPACT HORIZON
STAKEHOLDERS

SHORT

MEDIUM

LONG TERM

• Download this template


Establishing Impact
A few questions to ask:
• Is the impact compelling across each horizon?
• Can you indeed measure the impact?
• Is the value that people would see as an outcome truly
compelling?

• You will validate this with people, but what is your honest
assessment? Do not be afraid to go back and refine it. Its
cheap, easy and better to do this now!!!

Exercise 3
• Now articulate this for your own idea
course a first time


Applying this to your Idea or Product
• Grab a pen and paper (or open up a document online)
• Download the templates from the course page

• Go back to the beginning of this course
• Run through things step by step and do the exercises

• Do not rush this
• Expect it to take 1 - 2 ½ hours when done methodically
• When you are done (or initially done), let it sit overnight

Next steps from here
• Done the Core Value & Impact assessment?
• The next course builds on this, and guides you how to
establish key capabilities for your product


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Establishing core value & impact

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