Add-Vantage Consulting Group provides a broad array of business strategy consulting services with a focus on helping companies achieve new growth. We work closely with our clients in a collaborative, team-oriented approach that transfers knowledge each step of the way. We can provide end-to-end new venture / solution creation services, as well as individual components of the development process.
We assist our clients in developing business strategies, with an emphasis on achieving growth through new product / solution offerings. We provide our clients with an experienced external viewpoint, and a deeper understanding of key drivers, enabling them to broaden their perspective and set the appropriate context for successful strategy development. This approach helps clients to develop propositions based on a broader understanding of the opportunity space, as opposed to a more narrow understanding defined by a more internally influenced perspective.
Describing market composition, segmentation, key players and high-level economics in an intuitive and visual manner provides a quick overview of a market space and helps to determine whether growth opportunities may exist. Our approach to market mapping rapidly identifies the areas of opportunity worth pursuing, as well relevant competitive and market issues, providing guidance for opportunity selection and proposition development.
The development of clear, concise and compelling value propositions is a critical component of achieving new growth. However, employees and customers very rarely articulate unmet needs and product / solution requirements in a manner that’s actionable. We bring proven approaches and experience in translating customer needs into initial value propositions that provide sufficient specificity to quickly begin to model form, economics, and market reception.
Quickly getting to a tangible description increases the ability to receive actionable feedback, as employees, partners and customers react to a well articulated proposition rather than a vague concept envisioned differently by each participant. With our approach, feedback is more specific and serves to iteratively enhance and sharpen the proposition and its presentation.
Rapid Prototyping / Storyboarding
Having a tangible description, picture or prototype of a new offering early in the process can be extremely effective. The level and quality of discussion of an offering’s merits, feasibility, and costs is raised substantially when there is a concrete embodiment of the concept. With our rapid prototyping approach called Storyboarding, we develop a tangible “straw man” prototype early in the process and elicit comments and suggestions to iteratively improve the concept.
For years, Storyboarding has been used in filmmaking to outline the plot, actions, actor positions and scenery of a film on paper in a series of cartoon-like drawings. This approach allows filmmakers to tangibly describe what will happen in the film, plan for actions, scenery and effects and verify visually that the concept and execution approach is viable. Best of all, the approach saves vast amounts of time and money by allowing revisions to take place on paper before expensive sets, actors and crews have been employed. We have adapted this approach for early concept testing and planning, creating a rapid pre-prototype as well as outputs that aid in the productization, projectization and monetization of potential customer solutions.
Understanding the underlying economic impact of a proposed new offering gives key insight into its feasibility. Our approach is to model both client and customer economics as well as to understand financial effects for other relevant parties. Since complete information is not always available, our method notes assumptions and details activities to improve certainty during the process.
A realistic model of the financial impacts of a new offering is an important component of business plans and funding requests as it projects whether the effort will be worthwhile. Our iterative approach to financial modeling allows for the enhancement of initial models as the development process provides new information by testing and revising assumptions.
Implementation of new offerings is complex and multi-dimensional. Developing a detailed plan that includes timelines and milestones for each of these dimensions is critical to success. Further, plans that link actions and spending provide a higher degree of control as well as early warning of deviations from plan.
Business Plan Development
The business plan is both an organizational and communications tool for moving concept development forward. The structure of the plan ensures that all aspects from concept through launch and stewardship are considered. Further, its detail allows clear and concise communication of the concept, its financial potential, related risks and plans for implementation.
Often all the components of a new solution are not available “in-house”, and additional technology must be licensed or acquired. Identifying and procuring suitable technology on reasonable terms is a critical element of delivery. Further, acquired or licensed technology must fit within the solution’s longer-term technology roadmap.
As companies extend into adjacent spaces they sometimes lack all the competencies needed to successfully deliver their solution. In these cases, partnering can be utilized to fill in technical, marketing, distribution or other gaps. Selecting the right partner and the right terms can have a significant effect on the success of new initiatives.
There are thousands of moving parts in a solution or venture development process. We assist our clients in managing and monitoring progress against well defined milestones.
Technical Requirements Definition
To prepare for implementation, requirements must contain enough detail to enable development resources to construct, and for production resources to deliver the offering. These requirements are built upon the initial value propositions developed earlier, adding the appropriate level of focus for development and production audiences.
Branding & Licensing
Effective use of branding can enhance an offering’s appeal, raise its price point, and speed its adoption. Developing a logical brand architecture and strategy can be a key element in properly positioning an offering in the marketplace.
Effective communication of a solution’s benefits can be key to its adoption and success. We assist our clients in developing and deploying content for web and print distribution. We have also project managed web and multimedia development projects for a number of large corporate accounts.