One of the biggest mistakes large companies make is creating innovation teams that mirror all the functions of the core business. Those teams make no progress because they spent forever updating each other on what they are doing versus really crushing the most critical problems they need to address.
A next-generation innovation writer and thought leader worth watching.
I use the term "fool's gold white space" to highlight a common problem for innovation. People see a market that doesn't exist, and assume that one should exist.
I think people make innovation much more complicated than it needs to be.
It takes a great deal of humility to recognize you have made a wrong turn on the road to successful innovation, but better to stop and try a radically different approach then to continue down the wrong route for too long.
The school at which you studied - design school, disruptive school, TRIZ school, user-centered innovation school, etc - determines the specific words you use.
Innovation is doubly hard inside big companies.
Everyone knows innovation involves developing unique understanding of a market, thinking expansively to develop a solution, and then finding a way to test rigorously and adapt quickly.
Not only do innovators have to deal with all of the fundamental challenges of innovation, they have to do so in an environment that often is implicitly hostile towards innovation.
I've come to the conclusion that the core characteristic that separates companies that get innovation from those that don't is a simple word: curiosity.
In my mind, so-called "cultures of innovation" really boil down to one word: curiosity.
In the early stages of innovation, your goal is to learn as much as you can as quickly as you can.
The CEO should ask what he or she can do to raise the organization's curiosity quotient. One way to do this is to seek to learn more about current or prospective customers, not to figure out which segmentation model to slot them into, but to really understand them as human beings. Another is to live at the intersections where innovation magic occurs.
Anytime you see a constrained market, where consumption is limited to those who have special skills or are wealthy, that signals an opportunity for innovation.
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