Innovation is a process, not a one-time project! Great products rarely arrive by accident; rather, they are the result of many rounds of iteration. Companies make a significant investment into launching a product, just to see that the product receives mixed signals from the market. Then they are forced to further invest in learning what’s not working. That’s where we come in. Bonanza Design’s Lean Innovation Sprint maximizes your learnings through an iterative 3-week cycle of Learn-Prototype-Test at the early stages of product development.
Instantly focusing on solutions; no space to investigate the nature of the problem, resulting in myopic, short-term fixes
Mistakes are NOT allowed and are swept under the rug. Failure is seen as a sign of weakness
Long, rambling brainstorming sessions. Prioritising verbal discussion over complex user journeys. 0 visualisation
Opinion-based decision making processes that are mostly informed by previous experiences
Building the final product and launching the ‘perfect’ version, all in one go
Focus mainly on what the customers tell you and not their actual behaviours
Dependence on data generated by external bodies rather than relying on your own
Normal innovation processes can be sporadic and may take several months to generate reliable results
The team already has a concept in their mind; they fixate on this to deliver a perfect version, blocking them from visualising other opportunities
A perfectionist mindset rejects iteration: “But we have already made the perfect product!”
Thorough investigation into issues and challenges, with analysis from different angles
Failure and invention are inseparable. The faster you fail, the faster you maximise your learnings
Use efficient and systematic methods to design quick experiments that will generate reliable data to validate (or invalidate) the core assumptions
Rapid testing of ideas through exposing them to potential customers in the target market(s)
Building and iterating on prototypes to test desirability and usability
Exposing ideas to customers in real settings
Collecting your OWN data to validate ideas: this is the only source of truth relevant to your business
An accelerated and iterative 3-week process during which you can test up to five business ideas
Constant iteration to improve and streamline the product, highlighting what makes your business stand out
Discover which of the assumptions and hypotheses don't work in the concept development stage, saving you millions down the line
The first week is dedicated to quickly building expertise in your business and its market. During this process, Bonanza Design efficiently ‘divide-and-conquer’ the different areas of research and identify potential opportunities for further investigation.
Bonanza Design conduct thorough research on emerging technological and cultural trends in your vertical and target markets, as well as insights from Google keywords
Surveys provide reliable data with which to validate the core assumptions forming the underlying structure of your new business model
Customer research is key; establishing empathy with users and understanding their context, needs and frustrations allows the team to retrieve the solid contextual data that will shape our key design decisions
Competitor analysis is an important part of the research phase of the Sprint. Through this, the team gets a clear understanding of where your business stands in relation to the market and can identify needs and gaps; by addressing these, your business can stand out from competitors.
Key findings from the entire week’s research will be collated and summarised into a report for your team
The goal of this phase is to design several viable prototypes ready for further testing. Our team works with you to identify a number of opportunity areas (informed by the learn phase) and ideate a large variety of product ideas with which to enter the prototyping phase.
With a newly-acquired deep understanding from the "learn" phase, Bonanza Design revisits the problem statements with your team and update them to match our new awareness of the reality of the market and customer needs
Generation of a large number of business and product ideas, all exclusive to you, to address the newly updated Problem Statement(s)
Rank the ideas from ideation step and translate into research hypotheses
In order to test a research hypothesis, it is necessary to design an experiment. Bonanza Design’s team are expert in creating a realistic version of potential business ideas (i.e. high-fidelity prototyping) to test with your business’s target market
In the final stage of the Sprint, the team set the experiments to run and collate the market inputs. Every experiment has a prototype (a landing page, email or social media campaign, social media posts, clickable apps) designed exclusively to gather top-quality data from your target market.
The week begins by running simultaneous experiments and pouring traffic into them
Through our own testing sessions, Bonanza Design have discovered that the most efficient time to allow an experiment to run is up to a week: this generates a large dataset whilst remaining cost-effective. Once your experiment has finished, the team analyzes its performance and communicate the results (total impression, clickthrough rate, cost-per-click, conversion rate etc.) in a report and presentation
Survival of the fittest! The experiments have been run, performance analyzed; next step is to compare the results with industry standards so as to present you with the most promising ideas and a pathway to developing them into real-world successes.
Design is a process, not a destination. Worlds change, markets develop and your business needs to evolve with them. The Design Sprint exists to be repeated and built on, developing and iteration to scale the business and grow your success.
With each iteration the original concept evolves, usability issues are resolved and the idea grows into a product that we and you are excited and proud to release to the market
A Lean Innovation Sprint for Direct-to-Consumer (D2C) companies (FinTech, InsureTech, lifestyle brands) that break new ground with cutting-edge products and services on a fast and regular cadence.
Bonanza Design’s trademarked Lean Innovation Sprint is designed for product-first companies whose success relies on their concepts remaining at the cutting-edge of the market.
Lean Innovation Sprint is specifically tailored to researching, ideating and validating pricing models for your product (retail or high-ticket)
Bonanza Design helped an insurance company to speed up their product innovation process by implementing a dummy lean innovation sprint. They also built and tested landing pages with varied value propositions. The client was impressed with Bonanza Design's exceptional lean innovation sprint and testing capabilities. The team's excellent market-oriented practices and ability to develop custom requirements also ensured the engagement's success. Overall, the team fostered a strong collaboration.
Establishing empathy with customers and a thorough understanding of their context, needs, and frustrations
Conducting exhaustive research on new technological and cultural trends as well as the insights from Ggoogle keywords
Validation of core assumptions forming the underlying structure of your new business through objective survey data
A large number of potential product or service ideas that effectively address your newly updated problem statement(s)
Prioritisation of business ideas, creation of authentic prototypes and exposing the prototypes to your target market
Reflection and in-depth analysis of the performance of each prototype; results communicated in impartial data (CTR, CPC, CAC, CLV, total impression, conversion rate, and time on site)
Sketching a product concept and developing low-fidelity and high fidelity prototypes as to how the core functionality works
Designing and building clickable prototypes to test the MVP concept
Gathering feedback on prototypes by testing them with your target audience
Analysis of the results of the user tests are offered in a clear and concise final report, summarising the key findings of the sprint and the next steps if you want to commercialise the winning business ideas
Establishing empathy with customers and a thorough understanding of their context, needs, and frustrations
Conducting exhaustive research on new technological and cultural trends as well as the insights from Ggoogle keywords
Validation of core assumptions forming the underlying structure of your new business through objective survey data
A large number of potential product or service ideas that effectively address your newly updated problem statement(s)
Prioritisation of business ideas, creation of authentic prototypes and exposing the prototypes to your target market
Reflection and in-depth analysis of the performance of each prototype; results communicated in impartial data (CTR, CPC, CAC, CLV, total impression, conversion rate, and time on site)
Sketching a product concept and developing low-fidelity and high fidelity prototypes as to how the core functionality works
Designing and building clickable prototypes to test the MVP concept
Gathering feedback on prototypes by testing them with your target audience
Analysis of the results of the user tests are offered in a clear and concise final report, summarising the key findings of the sprint and the next steps if you want to commercialise the winning business ideas
Lean Testing should be the lifeblood of all companies. We know that 9 out of 10 business ideas fail; we know that in 42% of these cases, the failure is due to a misreading of the market demand. Sprints provide you with the keys to ongoing and efficient testing, leading your business towards the ideas that will become successful.
The client in this Lean Innovation Sprint had initially reached out for opportunities to grow their business. Alongside this, the sprint would act as a consultation and training program to allow their team to implement its mindset and methods. The company was established and fairly traditional; as with all successful businesses, they recognised the need for internal growth and development, allowing Bonanza Design to guide them through this phase of readjustment. The company engaged in active learning, experiencing the tasks and workshops whilst also learning how to facilitate and apply them.
The outcome was more than just a validated business idea: the client walked away with a step-by-step guidebook for lean testing.
Our clients were already fully operational in a number of countries and were looking to expand into the German market.
The first sprints with this company focused on discovering a product for them to launch. Through Bonanza Design’s trademarked Design Sprints, the client was able to see the relative performances of 11 different products and received detailed and numbers-based reports on their success. Together we alighted on a product that stood out; from there, we needed to detail the appearance of the product and its price point. The Bonanza Design team constructed an A/B/C/D test to experiment with four different price points.
