How can Product Innovation professionals prioritize their workload?

Priority is always the products creating highest return with smallest time frame needed. At least invest 20% of time into new innovations with long-term character. Question low return products with high time consumption for creation

To assign with your vision, consider evaluating your tasks in terms of their impact on business objectives. Prioritize initiatives that align with key business goals, fostering the overall success of the organization. Prioritize your work to address immediate needs while also contributing to the long-term viability and relevance of your product, enhancing its Unique Selling Proposition (USP). Adapt and re-prioritise in response to changes in market conditions, customer expectations, and the dynamic competitive landscape.

Product Innovation professionals can prioritize their workload by aligning each task with the strategic vision of the product, emphasizing the importance of initiatives that drive innovation and add significant value to end users, thereby optimizing resources and efforts.

I prefer to start with the business goals. Is increasing gross margin the most important KPI for the business this year? Then figuring out how to improve it directly or indirectly should be the most important thing you do. Everything else on your plate is secondary or delegate or delete.

In the realm of efficient work management, leveraging a framework proves invaluable. Consider the Eisenhower matrix for task categorization or the RICE score for prioritization. Consistency with a chosen framework empowers better decision-making aligned with your context and preferences.

Product Innovation professionals can prioritize their workload using a framework like the Eisenhower matrix, categorizing tasks based on urgency and importance, enabling a systematic approach to directing efforts towards the most strategic and impactful activities.

To efficiently break down a large product innovation project into manageable parts, utilize the DARCI framework: Define clear SMART objectives and identify key components of the project. Analyze the project with a Work Breakdown Structure (WBS) and prioritize tasks accordingly. Allocate necessary resources, including team members and budget, to each segment and set significant milestones. Communicate effectively by assigning responsible teams, establishing clear communication channels, and conducting regular progress reviews. Iterate with agile methods, manage risks for each project segment, and leverage project management tools for tracking and coordination. This structured approach ensures focused, resource-efficient execution.

If you suffer from FOMO (fear of missing out) when saying no to opportunities, try validating the value of those ideas or tasks and save them for a time that will be better suited to take them on. If it’s too good to pass up, then be clear on what your tradeoffs are. Think of your time like closet space, there’s only so much of it. So when one item goes in, perhaps on should be taken out? What goes in should also be compatible with the other items. Or be like Steve Jobs, choose one style and wear it well.

Product Innovation professionals can prioritize their workload by seeking support from project management tools and collaborating with colleagues to assess and prioritize tasks, ensuring a balanced and efficient approach in implementing innovative ideas.

Three additional considerations when prioritising innovation. Assessing Impact: Evaluate the potential impact of each task or project on overall business objectives and customer satisfaction. Innovation Impact: Prioritize projects that align with the organization's innovation strategy and have the potential to bring significant value. Flexibility: Be adaptable to changes in the business landscape and adjust priorities as needed to stay responsive to emerging opportunities or challenges.

Continuous effort in product innovation is crucial as it involves an ongoing commitment. It's not a one-time event but a dynamic process that demands consistent creativity, research, and responsiveness to stay ahead. Embracing a mindset of perpetual improvement can help you to normalize the never ending work peaks.