This workshop is organised in co-creation with Kromatic.
better decisions what project to invest in
recognize the levers of growth for a particular business model
identify and rank risky assumptions
create better relationships between those that allocate and receive resources
measure project progress pre-/early revenue
Work with leading experts and materials
In this course, we invite participants to use an early-stage venture of their choice. Applying theory to a real-world example will provide immediate value beyond learning the principles.
Actionable Metrics are the cornerstone of a good model and subsequent lead indicators for success. As a participant, you will discover how to extract the necessary metrics from any business or mission model and avoid vanity metrics. You will learn why and how to express each variable within a confidence interval before enabling a Monte Carlo Simulation. This results in the best possible prediction for your model. Lastly, we will see how the analysis can help with a range of decision making and what to do next.
The approach, different from traditional financial modelling, identifies a venture’s key risks, levers of growth, and potential more objectively.
Innovation Accounting adds to the available toolset. Everything is evolving, as is accounting, and there is a better approach to analyse the real value potential and risk of your venture – whether it’s a startup or corporate innovation project.
Extract the right metrics from your customer journey to prepare your financial model based on actionable metrics. This module is a helpful precursor for following
Innovation Accounting modules.
Qualitative and quantitative data do not exist in opposition. Both are necessary to a complete understanding of where the desirability of the product meets the viability of the business. Storyboarding is a simple way to start integrating both perspectives into a complete picture of how the user experience impacts the business model.
This module will strengthen your understanding of the difference between actionable and vanity metrics and prepare you for the Financial (and Mission Impact) Modelling module.
Whether or not you have written business cases before, this module will shed a light on essential input metrics of a financial model and identify the levers of growth.
We encourage you to bring a real example you are currently working on. This startup or corporate innovation project can be pre-revenue or an early-stage revenue venture.
This module focuses on translating your Business Model or customer journey into a financial model using the most important metrics of your business, what the relationship is between the specific customer and product metrics, and growth types. It further focuses on the difference between actionable and vanity metrics, setting the base for a deeper analysis and tracking real future progress.
As you are dealing with a startup or innovation project, each input metric created in the previous module is by nature very uncertain. To express the most likely outcome of your model we first guide you through how to express each important input variable within a range, rather than as a single number.
For example, you are very uncertain about how much customers are actually willing to pay for your new product. This is understandable without proper historical data. The best possible input into your model is your 90% confidence interval. We will go through some other specifics before running a Monte Carlo simulation that will show you the most probable outcome of your venture. Armed with this information, you can ask the model questions about how likely it is to hit a certain target.
Rank and identify risks
Measure speed and progress with precision
How to know when to call for support
How to keep your stakeholders and investors happy
Innovation accounting (yep, we’ve even got your math covered!)
Maximize results in minimal time.
Apply lean metrics in corporate innovation
Defining the most critical assumptions with confidence.
Design metrics and innovation accounting
Show the value of innovation effectively to your stakeholders.
Become a master in managing innovation projects & rapid data-driven decision-making based on metrics that matter the most
Build a financial model over time, giving it the complexity it needs at each stage
More accurate predictions and a way of tracking
Live online training sessions exploring 50 tools & 40 guided exercises
Personalized coaching sessions with your mentor to facilitate your learning progress
Bonus study tracks to help you apply your learnings and expand your knowledge, at your own pace
Gain lifelong access to our online learning environment to review slides, videos & resources and access to our online community on slack
Those who earn a certification indicate a thorough understanding of principles and practices related to innovation and creative problem solving with a focus on ideation, human centered design, and rapid validation of new ideas.
The training program and certification process are rigorous to ensure that those who pass the qualification fully understand the class content and are able to apply the concepts immediately to be more effective in their jobs.
Regardless of one’s career stage, certification is a valuable professional asset that distinguishes you as having the knowledge and ability to drive focused and purposeful innovation projects inside a business enterprise.
As alumni, you will join a community of professionals and gain exclusive access to:
» Events, roundtables & workshops
» Online Slack groups
» Online Content
» New Courses
» Networking opportunitiesAnd much more…
Elijah Eilert is the founder of Innovation Metrics. He has worked as an entrepreneur, or within corporate innovation in the US, Germany, China, Spain, France and now Australia.
Elijah is passionate about an honest and data-driven approach to innovation as it lets people with the best ideas flourish and builds lasting relationships.
Our mission is to play a significant role in the revolution that innovation management itself is going through right now. We want to create lasting impact in the way organisations handle innovation. We are on the forefront of Innovation Accounting as it is just as significant for innovation as to the role of Management Accounting or Modern Scientific management had on organisations as a whole.
We make innovation manageable by assisting in measuring the right things and coaching in Innovation Practices so you can find out what really works and make better decisions. Innovation Metrics is based in Australia, serving primarily the Asia Pacific Region.
We assist startups, corporates, NGOs and government clients to better measure and
manage innovation. We provide ecosystem assessments, strategy advice as well as training
and coaching for teams and leaders to systematically test and launch new business models.
After working in banking and government, Rob launched several innovation ventures. He was involved in the funding and coaching of dozens of startups and companies before starting his own company. He worked with several Fortune 500 companies on strategic investments. For more than three years, Rob has helped large enterprises, startup communities, and startups to grow faster.