VCW Funnel
The Value Creation Wheel Funnel (VCW Funnel) is a powerful tool that breaks the ice and empowers the co-creation team. It aligns them toward a common goal and solution for a specific problem, fostering a sense of engagement and motivation.
The VCW Funnel is not only effective but also efficient in solving challenges, even with limited resources. Its cyclical and iterative approach ensures that the final solution developed within a very short period is robust, innovative, and aligned with the organization’s strategic goals, providing reassurance about its effectiveness.
Guidelines to Develop a Value Creation Funnel
1.
Define/Tap
Start by filling ALL THE 5 BOXES:
a) Diagnostic,
b) Challenge,
c) Leaders who have the 4Ms (i.e., KDMs - Key Decision Makers, who have the 4Ms - Manpower, Minute, Money, Motivation),
e) Internal and External Stakeholders,
f) VCW Scientific Advisor(s) (e.g., VCW Lab @ Nova SBE)
2.
Increase/Induce:
Generate ideas: One single idea per yellow paper. Put all yellow papers on the left top corner.
There are no good or bad ideas. Everything is acceptable. Make sure they are very clear and understood by everyone:
a) Start with brainwriting (not brainstorming)
b) Use Artificial Intelligence
c) Brainstorming
Generate filters: One single idea per blue paper. Put all blue papers on the right top corner.
There are no good or bad filters. Everything is acceptable. Make sure they are very clear and understood by everyone:
a) Start with brainwriting (not brainstorming)
b) Use Artificial Intelligence
c) Brainstorming
3.
Assess/Analyze:
a) When assessing the ideas, you must have the mindset of a Key Decision Maker who has the 4Ms.
b) When assessing the filters, you must have the mindset of a Key Decision Maker who has the 4Ms.
c) Establish the order of the filters/criteria starting from the most important ones (“Must to have”) to the least important ones (“Nice to have“): 1) must-have; 2) nice-to-have
4.
Narrow/Ground:
In this step, each idea goes through the ranked filters, to ensure a comprehensive and thorough evaluation process.
5
Act/Operate:
a) For each solution, fill in the 4 boxes of the 4Ms (Manpower, Minute, Money, Motivation). If you have multiple solutions (e.g., 3 solutions):
- you must develop the 4Ms multiple times (e.g., 3 times),
- add new filters,
- or group the solutions into clusters.
b) Conclude with an elevator pitch:
1 - Challenge (15s); 2 - Solution (30s); 3 - 4Ms (15s)
What is the Value Creation Funnel?
Download the VCW Funnel here.
The Value Creation Wheel Funnel (VCW Funnel) is a strategic tool to help organizations solve simple problems, innovate, and create value.
Its main purposes are:
1. Problem-Solving
The VCW Funnel helps identify and address simple organizational problems. Analyzing small and manageable problems facilitates the development and analysis of alternative solutions.
2. Innovation
The VCW Funnel fosters creativity and innovation by encouraging diverse perspectives, brainwriting, the use of artificial intelligence, and collaborative brainstorming within a short period. It helps participants and key decision-makers to think outside the box and “without a box” and develop novel solutions that can lead to significant improvements or breakthroughs.
3. Value Creation
The VCW Funnel creates value for stakeholders, whether customers, employees, shareholders, or the community, within a short period. Aligning problem-solving and innovation efforts with value creation ensures that the outcomes are meaningful and beneficial.
4. Strategic Decision Making
The VCW Funnel aids in making informed and strategic decisions by providing a structured framework that guides the analysis and evaluation of different options and respective implementation (4Ms: Manpower, Minute, Money & Motivation).
5. Collaboration and Alignment
The VCW Funnel promotes teamwork and alignment among different organizational departments or stakeholders. Involving diverse groups ensures that various viewpoints are considered and integrated into the final solution.
6. Adaptability and Flexibility
The VCW Funnel is not just a tool. It's a versatile framework that can be adapted to different contexts and industries. Its flexibility makes it a confident choice for various strategic initiatives, instilling a sense of trust in its adaptability.
Overall, the VCW Funnel enhances an organization's ability to systematically create value through effective problem-solving, innovation, and strategic alignment.