Brant Cooper - 5 Lean Innovation pitfalls to avoid and how to overcome them
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The new wave of corporate and startup innovation, led by agile practices, design thinking and lean startup is now several years old. What have we learned? Brant's firm has worked to implement lean innovation practices with more than 100 startup’s and 1000 of entrepreneurs around the globe and will share some failures. Without naming names, Brant will discuss specific pitfalls leaders should avoid, and how to overcome them.
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Brant Cooper - 5 Lean Innovation pitfalls to avoid and how to overcome them
- 2. ISSUE 1 “innovation” lost in the wilderness
- 3. ISSUE 2 innovation as a duality
- 4. ISSUE 3 impact vs culture
- 5. ISSUE 4 top down vs bottom up
- 6. ISSUE 5 transformation vanity metric
- 7. SEARCHEXECUTEon the known in the unknown Measure output Continuously improve Drive productivity Measure impact Create new value Drive new growth &
- 9. 1-2 years 2-4 years 4-7 years KNOWN UNKNOWN HERE’S THE REAL ISSUE: UNCERTAINTY IN CREATING NEW VALUE (time) ($)
- 10. Em Understand your customers deeply; their pains, passions and desires. Discover insights. EMPATHY Ex Test insights through behavior. Reduce risk by experimenting across the business model. EXPERIMENTATION Ev Make decisions quickly based on data, insights and customer behavior. EVIDENCE ACT LIKE A STARTUP
- 15. accelerate
- 16. allow structure to emerge
- 17. INNOVATION TRANSFORMATION MOVES THE NEEDLE We are Innovation Transformation Architects. We provide the blueprint to innovating the way you do business. We’ve worked with some of the world’s leading companies: brant@movestheneedle.com www.MovesTheNeedle.com @brantcooper 7-11 ADP AIA ALLSTATE AMERICAN FAMILY AMERICAN GREETINGS BAYER CAPITAL ONE CISCO CITY OF HAYWARD CSAA CUNA MUTUAL DBS BANK BAY EDMUNDS ERICSSON EXXONMOBIL GENERAL ELECTRIC GERBER TECH HUMANA ING INTEL INTUIT INVISTA LEGRAND LEXIS NEXUS LEXIS NEXUS NIKE PITNEY BOWES PROVIDENCE HEALTH QUALCOMM ROCHE DIABETES SC JOHNSON SCHIBSTED SPRINT TARGET THOMSON REUTERS TRANSAMERICA UNILEVER USOC
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- Innovation is poorly defined. It is not tied to corporate strategy. It doesn’t solve leader’s immediate problems? Who owns it? Marketing? HR? R&D? Does innovation mean technology?
- leaders blindly grasp at a “70-20-10” rule to define where people innovate? major consultants advise that you execute in the core and setup a lab to do “breakthrough” innovation” there is no such thing as new product development in the core “innovation” is everyone’s job
- mentor, not just manage provide “space” measure performance differently walk the walk have teams’ backs
- they understand the “why?” corporate values are aligned what is your “why?” no definition means: No leadership buy-in “Not my job” No clear objectives
- develop customer empathy experiment rapidly generate behavior evidence work fast, be agile, and ACT BOLD
- design thinkers agile startup vets
- can’t wait to dot the i’s and cross the t’s
- manage by impact startup incentives teach fail small to not fail big allow breakthrough to happen Allow culture to define structure
- ExxonMobil