How to Turn Ideas into a Great Business

Innovations and R&D | Co-creation | Published 08. Nov. 16

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Pezy Group’s Sales and Business Development Manager Erik Spelt thinks that the energy, car, and financial industries have yet to meet their Uber and Airbnb disruptors. It could be your company, if you can identify that one idea worth developing.


Learn to Filter 

“There’s infinite room for innovation,” says Spelt. With help from new digital technologies such as 3D printing and open-source electronic prototyping platforms, and megatrends like the IoT and connectivity, creating something tangible out of ideas has never been easier. The real challenge lies in the identification of the idea worth developing from among other ideas.

Pezy Group’s bread and butter may be their design and engineering skills, but they have something else that’s equally important, “We have a five-step approach in unlocking the potential of initial ideas and turning them into a commercial success.” Crucial to this five-step approach are risk management, rapid prototyping, continuous testing, and pilot production. They also take advantage of feedback, “It’s extremely important to take feedback into consideration before experimentation.”

At Pezy Group, ideas are also filtered through the following:

  • Desirability
  • Feasibility
  • Profitability

Be Absorbent

“Established companies can learn from new entrants’ inquisitive nature and phenomenal ability to test and quickly adjust plans,” shares the Pezy Group’s Sales and Business Development Manager and adds, “Entrants are also brutal when it comes to attacking established business patterns. But there’s something that new entrants don’t have — experience — which established companies have plenty of, “Creating a great product that will perform with zero defect isn’t an art, but a craft learned through experience.”

Although a study in contrast, both can benefit from, “Engaging with the right partners at the right time especially in areas where certain competencies and experience are lacking,” and building networks and multidisciplinary teams with great leadership.

Pezy Group will be attending the 600Minutes Innovation and Product Development event in the Netherlands on the 25th of January 2017 as a solution provider. For more on our upcoming events, visit the Event Calendar »

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