203 articles on innovation, lean startup, and entrepreneurship
Think of A.I. as an augment to your creativity, not a replacement for it. Task your A.I. to tackle mundane tasks to free yourself up for the fun parts. Use Artificial Intelligence in innovation, but don’t rely on it.
Master the art of innovation with our handy flashcards quiz. Learn when and how to use innovation methods effectively to save time and money, and launch your product successfully.
Innovation isn't a singular leap; it's a series of calculated, compartmentalized steps that culminate in transformative change. Over-segmenting tasks can dilute the primary objective, while under-segmenting can lead to overwhelming challenges. Continuous feedback and agility within compartmentalized tasks ensure alignment with the broader innovation vision.
Start with your qualitative insights and vision. Back up your intuition with quantitative data. Design S.M.A.R.T. experiments with a hypothesis. Learn to use an Experiment Calculator.
Innovation requires the ability to shift perspective. Innovation perspective games can be played by an individual or a team to boost their disruptive potential. Changing perspective is a skill that needs to be practiced and developed.
Innovation management has evolved significantly. It's no longer a rigid, one-way path but a dynamic, feedback-driven funnel. Projects can now revisit stages for further development, or take an off-ramp if they cease to align with strategic goals. This approach enables organizations to foster a more resilient, adaptable, and successful innovation process. But most of all, it increases both impact and ROI. In the rapidly changing business landscape, there's no room for static, one-size-fits-all processes. Your innovation process should foster creativity, leverage data, and maintain strategic alignment. By incorporating metered funding, data-driven decisions, bounce gates, and an offramp into your innovation process, you can enhance your new product development process and fuel your organization's future growth. Metered Funding stops funding to failing projects. Data-Driven decisions based on innovation accounting improves ROI. Bounce Gates allow pivots, which preserves lessons learned. Off Ramps for projects that don’t fit the strategy preserves option value.
Be helpful, but don’t derail your team’s work. Stay informed without causing interference. Show your team members they are trusted and valued.
The Net Present Value formula is a way of collapsing future cash inflows and outflows into today’s value for easy comparison. The Net Present Value formula is not a replacement for Innovation Accounting. The Net Present Value formula can be used within Innovation Accounting for making Pivot-or-Persevere decisions.
Learn the importance of making strategic decisions based on evidence rather than experience, and the benefits of keeping decisions close to the information to drive better outcomes in innovation projects.
