Customer Discovery / Commercial Feasibility
At VARA, we draw on our proactive lean start-up approach and wide business network across many industry sectors to investigate, scope and develop commercial cases for new innovations in support of further commercialisation activities. We bring a proven assessment process using market engagement / new customer discovery techniques to ensure that the innovation is actually addressing a problem worth solving and to define the full unique value proposition potential for the project.
Our commercial feasibility process quite rightly spends most time on market validation, talking to a wide network of stakeholders and potential collaborators, licensees and customers to get the real insights and fully understand the problem / opportunity and to define the value proposition(s). This is what sets VARA apart. We can proactively engage with the notable global players in the market to assess the state of the art, the need or demand for a technology, the competition, barriers to entry and the regulatory framework within which it might have to sit. Once we have established a clear market need, our assessment then highlights the follow-on actions and presents the all-important recommended route to market options which will, when required, emphasise benefits to the economy. Following this process we will work up a fact based business model canvas.
We also deliver lean start training and pre-accelerator programmes. Our lean start-up training focuses on how to teach clients how to define value proposition assumptions and how to target relevant and appropriate customers using Assumptions Mapping, Strategyzer’s Value Proposition and Business Model Canvas tools to guide the process. Leveraging our own experience of actually doing this, we show clients how to engage the market most effectively to get meaningful conversations going with the right people, asking the right questions to get unbiased information from the market, which will enable a better understanding of the problems and opportunities to inform the route forward. Clients learn how to ascertain and fully understand any unmet needs and opportunities for the early-stage technologies and how to get potential customers involved in the solutions progression.
At VARA, we can also engage the market on behalf of SME clients to better understand the needs of existing and potential customers and to ensure the value proposition is clear and being delivered to customer expectations.