Five Powerful Innovation Behaviors

Five Powerful Innovation Behaviors

Increase innovation in your organization

  1. Know Your Hypotheses - Test Early and Often: Companies can only determine which innovations will succeed in the market by giving customers a chance to first see, feel, and engage with the offering and then stand back to see how they react. Every part of your new business idea is a hypothesis to be tested. Find ways to test early and often using a minimum viable product (MVP), instead of waiting for design perfection. An MVP costs little in time and money but enables fast customer feedback on whether your hypotheses are on track.
  2. Be Ready to Pivot: As you test your business idea, be willing to substantially change one or more business model elements. Do not let the initial design or business plan anchor you into an unmovable place. Instead, see it as a starting point from which you can adjust, iterate, and advance.
  3. Inspire the Right and the Ready: You cannot make people innovate. Instead, embrace the volunteers, the lateral thinkers, the mavericks (and sometimes the complainers), who raise their hands and want to make something new out of nothing. Position your leadership team to excite and encourage such folks to step forward. Clearly define your organization's innovation priorities, challenge employees to innovate, and make it safe and acceptable for them to do so.
  4. Set Impossible Goals: Innovation, particularly transformational innovation that taps into an unknown need and invents an entirely new business model, depends on visionaries who are willing to take a leap of faith and shoot for something that seems impossible. By setting impossible goals to be achieved in a short time frame, organizations tap into this hidden talent potential and inspire individuals, teams, and whole divisions to rise to the occasion. Nurture the energy and momentum: it pays dividends not only in audacious results, but also in fostering learning and confidence.
  5. Ready Yourself to Realize the Luck: There is an element of luck in innovation - and luck is when opportunity meets preparedness. Keep the door open to new thinking, stay focused on your innovation objectives, engage in healthy levels of risk taking, loosen up on rigid processes and procedures, and reward the mavericks for their creative thinking and experimentation.

Schaffer Consulting can help kick-start entrepreneurial growth in large corporations. If you would like to learn more or would like to talk further about Schaffer's work on innovation, please contact us.

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