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A study conducted by the Management Sciences Institute indicates that 89% of successful new product introductions fit the following criteria:
New, but not too new to the market
New, but not too new technology
Is grounded in real customer needs.
These three criteria form the foundation of what is called the Balanced Breakthrough Model, which was first introduced by business management guru Peter Drucker. It establishes the premise that powerful offerings are those that match what people desire, what is technologically feasible, and what is viable as an ongoing business. Having a ‘balanced’ offering does not necessarily mean that each of these components is equally emphasized but that all are present.
This model provides an ideal structure for teams to generate, organize and prioritize the challenges they must overcome to achieve success on an initiative. Learn how to apply it to your idea to make the most of your resources in the early stages of your journey to deliver it to the world.
Tom DeVries, President & Co-Founder, Thoughtfull Design
Tom DeVries is a hybrid design & business strategist obsessed with designing solutions, systems and businesses that empower people. He is a Human Centered Design methods expert with extensive experience leading organizations to identify unmet needs in the marketplace, and then develop business models to deliver solutions that engage users in delightful end-to-end experiences. He has led initiatives for organizations from small to large in Asia, Europe, Latin America and the United States.