Napkin Pitch
For innovation to be successful, we must have a champion on the leadership/executive level. But demonstrating to stakeholders the clarity of an issue and need for innovation is no easy feat. The "Napkin Pitch" developed by Jeanne Liedtka is an effective tool that provides a simple format to summarise and communicate a new concept - and thereby engage stakeholders and gain their buy-in. Similar to an elevator pitch, you should be able to use questions to create a Napkin Pitch.
The Big Idea - This is where you describe the concept
Needs/Benefits - Who wants this? What unmet needs does it serve? How will the stakeholder/s benefit?
Execution - How will we deliver? What assets and capabilities does this leverage or require? What partners do we need?
Business Rationale - How will this address the opportunity/challenge we have defined? Is there any duplication between our proposal and what already exists? What makes us uniquely capable of delivering this? How will our competition react? How will we sustain our advantage?
The reason for using a napkin is to keep it short, simple and under 60 seconds. If you can't sell the premise in that time, then chances are the problem is not well defined or you haven't locked in the real outcome.
