How can you balance speed, agility, and testing when pursuing innovation?

My 2 cents, things to consider before you chalk the Goal are: one, Avoid creating “Solutions” that’s looking for a “Problem”. Don’t invest resources and wonder, what happened. Second, the challenge of picking the right idea. As Michael Dell says, ideas are commodity, Execution is not. In my early days, we worked with R&D teams on models to pick viable idea from many choices. Easy for smart people to generate ideas, but choosing one that delivers better yield & valuation, is the key. Third, while it’s Cliche to say SMART goals, it’s not common sense in many organizations. The Unknown Optimism drives the adrenaline rush to pick “favorite” idea, but it’s important to take two steps back to answer critical questions.

Without clear goals, you will not be able to balance anything. You will go fast in the wrong direction. Defining the goals is the way to ensure that all efforts are aligned and focused. This will facilitate rapid iteration and adaptation while maintaining a rigorous testing environment to validate ideas promptly. By establishing clear goals, teams can prioritise tasks, streamline processes, and optimise resources to drive innovation efficiently. That being said, there are various ways to do it - but it is never easy!

Risk-Adjusted Innovation is the way to go. Speed: Prioritize innovations with high potential impact and low implementation risk. Avoid over-engineering. Agility: Create a portfolio of experiments. Allocate resources dynamically based on results. Testing: Measure impact and adjust course. Rigorous testing ensures that innovation aligns with business goals. Remember, innovation isn’t just about speed—it’s about delivering meaningful value while staying adaptable.

Leading innovative projects for nearly 2 decades now, has taught me the importance of balancing speed, agility, and thorough testing. Drawing from Doblin's 10 types of innovation, I've learned to apply these principles in a cycle of experimentation and learning. It's about rapidly testing assumptions, gathering feedback, and iterating, not just once but continuously. This approach not only speeds up innovation but also ensures it's grounded in real user needs and market opportunities. Embracing this cycle has allowed me to steer projects with agility, minimizing risks while maximizing the potential for breakthroughs. It's a dynamic, ever-evolving process that reflects the true nature of innovation: iterative and experimental.

Encouraging an experimental mindset involves fostering a culture where curiosity and innovation thrive. It entails embracing uncertainty and actively seeking out new ideas and approaches, even if they may fail initially. This mindset prioritizes learning over perfection, viewing failures as valuable opportunities for growth and discovery. Teams are encouraged to test hypotheses, iterate quickly, and gather feedback from real-world experiments to inform decision-making. By promoting a safe environment for experimentation, organizations can unlock creativity, uncover unforeseen opportunities, and ultimately drive meaningful innovation.

Experimentation and continuous learning are essential for fostering innovation in any organization. By encouraging a culture of experimentation, teams can test new ideas, approaches, and technologies to uncover innovative solutions and improve processes. Through iterative cycles of trial and error, teams gather valuable insights, learn from failures, and refine their strategies, ultimately leading to breakthrough innovations. Embracing a mindset of experimentation and learning allows organizations to stay adaptable, responsive to change, and ahead of the competition in a rapidly evolving landscape.

Here is what I advise as a PM: ?? Treat every initiative as an experiment, encouraging creativity and risk-taking. Set clear objectives and metrics for each experiment to measure success or failure. ?? Collect data from experiments. Use analytics to understand what worked and what didn't, turning data into actionable insights. ?? Implement a cycle of rapid prototyping and testing. This allows for fast feedback and learning from each iteration. ?? Foster a culture where learning from both successes and failures is valued. ?? Promote a diverse and inclusive environment where all team members can contribute ideas. ?? Establish mechanisms for constant feedback from users, stakeholders, and team members.

The key operative word for building innovative organization that I use is “Fail-fast”. It’s absolutely Ok to experiment, it’s ok to make mistakes, but most important is to fail-fast and than prolonged state of false hope. Another operative sentence, that I drive ( sometimes, I get backlash “why are you so difficult”) but “I don’t give a fish, but teach fishing”. In the long run, one will be self-sufficient and more open to innovate, when they get hands dirty. It could be MVP, NPI, just go play. The other operative word, that I use often is “Reimagine”. I know that we have done it in a particular way for eons, but It’s absolutely ok to reimagine. There is never a perfect place or process or system. There is always scope for improvements.

I would argue velocity than speed, that determines direction. A sense of urgency and bias for action, would help stay course. Fish for quick wins, as we embark. On agile, the term that I love is “functional 1.0” Get the working model right, that serves the defined purpose without much of frills or distractions. One needs to have utmost clarity to drive the functional 1.0. Flexibility is easier said than done. In the grind, one is always have to work with constrained resources, faster need to prove viability, hence one need to walk the thin line of flexibility. Set expectations upfront, that frames to include good margin for flexibility.

As an entrepreneur who built a successful company with minimal investment and maximized returns, speed has always been my fuel, but I've learned that without agility, it can lead you off a cliff. In today's rapidly evolving landscape, speed is critical. Like you mentioned, Spotify disrupted Napster through sheer velocity, proving that getting your idea out there first can be a game-changer. Speed allows you to test assumptions quickly, gather real-time feedback, and capitalize on fleeting opportunities. Remember, speed is powerful, but without agility, it can be reckless. Embrace both, and you'll have the fuel and the steering wheel to navigate the ever-changing innovation landscape and achieve maximum returns.

Being agile and flexible is not just about moving fast. It's about moving smart. It's about learning from your experiments, adapting to changes, and persistently pursuing innovation. It's about turning uncertainty into opportunity, and challenges into innovation. Having an agile and flexible approach helps a company cope with uncertainty, seize opportunities, and overcome challenges to deliver value quickly, learn from experiments, and continuously improve the product. This not only accelerates innovation process but also enhances the chances of success.

As the cliche goes, High Risk, High Return. As leaders, the Job is to assess the risk appetite, plan for risk management. The thoughtful nature of choosing risks, will determine the return. When it comes to innovation, strategy, it’s important to dream big, consider all risks and plan well. Ethics is non negotiable, with ESG taking center stage, the Risk Governance, Ethical compliance, Environmental Conscience are table stakes.

I have been fortunate to participate and run few design thinking workshops for journey maps. The vibe and energy in the room is so vibrant when you get cross functional teams together and when we dissect the process from multi-stakeholder PoV. Co-create, Co-innovate with customer, with partners, the magic is when diverse stakeholders get together for a common cause ( and it’s always the end customer / user ). It’s a Team Sport, in corporate world, there is no room for individual heroes, it’s so critical to come together. The hybrid, new ways of working might throw challenge in virtual environments, to drive collaboration, but we all are fast learning the new normal.

In business, like a tech startup launching an app, set clear goals akin to identifying market fit. Embrace lean methods to release quickly, but iterate based on user feedback for agility. Testing goes beyond bugs to ensure market demand is met. The key is to move with purpose—fast development, flexible adaptation, without sacrificing ethics or quality. Regular feedback loops and agile practices are crucial for responsive and responsible innovation.

Strategic innovation is an ongoing journey towards creating something extraordinary. The key to success is to be open to feedback from diverse stakeholders and integrate their suggestions into your innovation process. This not only increases your chances of success but also helps you achieve your goals more efficiently while adhering to timelines and budgets. Collaborative co-creation can bring tremendous value to the final product. So, let's embrace the process with an open mind, even if the result may differ from our original vision.

In the quest for innovation, remember the human element. ???? Beyond data and technology, it's the creative and empathetic insights from your team that often lead to breakthroughs. Encourage a culture where every voice can be heard, fostering an environment ripe for innovation. ???? Remember, the most profound innovations often stem from understanding human needs and desires deeply. Let's not just innovate for the sake of innovation but to genuinely make a difference in people's lives. ????

Achieving a balance between speed, agility, and testing in innovation involves empowering teams to experiment, iterate quickly, and gather feedback from users. Embrace a culture where failures are seen as learning opportunities, and utilize lean methodologies to prioritize flexibility and customer feedback. Make data-driven decisions and manage risks effectively while remaining open to iteration and adaptation based on market insights. By incorporating these approaches, organizations can effectively navigate the complexities of innovation, driving meaningful progress while minimizing risks. #ahmedalaali11

Don’t waste time on a win-lose balance. Integrate holistic pillars and find your value in the intersection of technology & marketing ventures inc. with your clarified problem. Contact June Klein on linkedin to overview the how, that is what she does.