There are a number of ways to approach commercialisation. Personally, I am repeatedly drawn to the utility of the Human Centred Design [HCD] drivers of Desirability, Viability and Feasibility. In my mind this model succinctly underpins much of the innovation process and consequently provides an excellent platform for thinking about commercialisation. I’ve mentioned before that the single most important takeaway from the Lean Startup movement ought to be that the business as a whole needs to be modelled, prototyped, iterated and validated. This concept dovetails nicely with the HCD framework above since both the Lean Canvas and its progenitor, the Business Model Canvas, focus on three main areas that ostensibly address each of these three overarching themes.
“Commercialisation is about more than just turning Intellectual Property into products. It’s about creating markets. Unless companies embrace the broader view… they are limiting their opportunities” – Grant Steinberg, Entrepreneur
When it comes to developing a commericalisation strategy there is often an overwhelming array of things to consider and precious little time or resources available with which to do so. Moreover, it is not uncommon to slip into the trap of giving undue bias to one of the guiding themes at the expense of the other two.
It can help, therefore, to reflect on the simple frameworks mentioned above and distil from them the key questions that must be answered. Standing on the shoulders of giants, I have tried to do that here and the material presented can serve as a useful checklist to make sure you address the most critical considerations up front.