“Ideas are Easy, Execution is the Hard Part.”
The History books and the patent portfolios of many great and in some cases, no longer existing global companies are filled with tremendous innovations, that never made it to market.
The innovations were held close to the vest, in secret, keeping the idea tightly guarded.
A brilliant and game changing innovation that got stuck in the existing company development process and couldn’t get out to market.
The idea was held prisoner by the way the company manages it’s development process and resources. Too few resources with too many critical priorities.
The star innovation that could change the trajectory of the company went into development and had all the edges chipped away, until it exited the development process looking exactly like all the prior products or services.
The innovation was delivered to a market whose needs change faster than the development process can deliver.
Then after time, an competitor, a start up, or a lone inventor that can execute takes on those remnants of the innovation and packages it with something new, disrupting the whole industry.
The execution problem is not one of having too many ideas, but something built into the existing development process itself that grinds the innovation to a halt.
One of the keys we educate on to increasing your development speed is to focus on the critical few. The project team needs to have a methodology and approach that allows rapid keep or kill assessments based on the market math of new revenue streams, savings opportunity or market, technology, and/or regulatory risk.
The development process itself is not a checklist only approach of did you do the right things to meet the checkpoint, gate or milestone.
Think of it more as a real time, data driven, Business Innovation Operating System that includes weekly updates on the progress, market math changes, business risk, technology risk, and regulatory risk related to projects in the innovation pipeline.
In the Business Innovation Operating System, the project leader is empowered to make the keep or kill decision based on the factors in the project at that time. Driving execution further, or killing the idea and moving on to something else in the pipeline if the situation changes.
To increase your development speed and execution companies should embrace a Business Innovation Operating System in which every employee can explain the What, Why and How We Innovate.
As Guy Kawasaki said “Ideas are easy, execution is the hard part.” Reach out to us below for some guidance, support, case stories, training and the tactical steps that will help your team execute your plans for growth.
About The Innovation Garage…
We help organizations grow. We build strategy. We build ideas and coach the capability of teams. We design products, services and supply chains. We guide leaders from startup and non-profit to the Global Fortune 500 to intentionally self-disrupt their offerings and companies. We provide world class education, tools and technology on how to craft business operating systems focused on long- term profitable growth.
If you’d like to learn to more about our approach to capability education and building your team’s business innovation operating systems and how we have helped our clients, please reach out to us here, or use the contact form below.
You can also learn more, request real world deployment case studies or to schedule a demo of WHAT, WHY, & HOW. visit www.the-innovation-garage.com
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