Co to jest TMT?
The abbreviation TMT is extended to Time To Market.
This term refers to the time measured from the moment we start working on the concept to the moment when we put the ready-made solution into use. Most will agree that this timing of entry is important. The start date will give us an answer, are we on time or are we late or are we too early?
So what can we do to recognize the market faster, speed up the work and win the race against the competition?
We all need more time:
👉Time to design a solution.
👉Time to collect feedback about the solution.
👉Time for feedback analysis, learning and improvement.
It’s a constant, painstaking process of improvement, and you can get stuck in it. The more comprehensive the solution, the more time we need. Note how much time is needed to design and build an airplane? A lot. How much will it cost? A lot. Metaphorically speaking, many organizations do something very similar. Preoccupied with designing a time-consuming, comprehensive solution, we build our planes and expectations to bring them to the market almost perfect. So the longer it takes us to work on the solution, the later we will get feedback. And the feedback for innovation is the most important.
Is there an alternative?
Modern companies, instead of designing airplanes, start with designing a scooter. It is a symbol of an approach where instead of focusing on a comprehensive target solution – you invest in its minimal form and develop it.
You quickly bring the basic solution to the market to the recipient. You are testing. You upgrade and switch from a scooter to a bike. You are testing. You upgrade and transfer to the car, etc. You can react faster, change parameters, deepen the knowledge of the recipient, before investing in a complete solution, i.e. building your plane.
Obviously, the larger the solution becomes and the longer it has been on the market, the lower the appetite for risk-taking and change. Therefore, it is easier for you to race against the competition “scooter”. In the event that your company is already flying by plane – the key will be to work on maintaining the agility of the organization.
If you want to learn more about when to worry about what your competitors are doing, check out our free webinar (20 min).
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