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What do you do if your product innovation network is weak and needs strengthening?

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Navigating the complexities of product innovation can be daunting, especially when you realize your network is not as robust as it should be. A strong product innovation network is crucial for accessing new ideas, technologies, and market insights. If your network is lacking, it's time to take proactive steps to enhance it. This will not only improve your current projects but also set a solid foundation for future endeavors. Strengthening your network involves assessing its current state, identifying key areas for growth, and actively seeking out new connections and opportunities for collaboration.

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Huram Konjen

Executive · Digital Innovation · Life Science · Finance · ex Deloitte

1 Assess Needs

Begin by thoroughly evaluating your product innovation network to identify its deficiencies. Consider the diversity of your contacts, the frequency of meaningful interactions, and the quality of information exchanged. Are you connected to a variety of professionals from different industries and backgrounds? Do these connections provide valuable insights that contribute to your product development process? If you find gaps in areas such as expertise, resources, or market access, these are the areas you'll need to focus on to bolster your network.

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Huram Konjen

Executive · Digital Innovation · Life Science · Finance · ex Deloitte
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Find a way to measure the speed of innovation by creating a tool that tracks how quickly ideas move from inception to launch. This tool could use metrics like time-to-market, iteration speed, and idea generation rate, offering clear insights for enhancing innovation processes.

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2 Build Connections

Once you've identified the weak spots in your network, it's time to start building new connections. Attend industry conferences, join professional associations, and participate in networking events. These are excellent opportunities to meet potential collaborators who can bring fresh perspectives to your projects. Remember, networking is not just about collecting business cards; it's about fostering relationships that are mutually beneficial. Be genuine in your interactions and look for ways to help others as well.

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3 Leverage Online

Don't overlook the power of online platforms for strengthening your product innovation network. Professional social networks, online forums, and virtual conferences can connect you with experts and innovators worldwide. Engage in discussions, share your expertise, and be proactive in reaching out to individuals whose work aligns with your goals. The digital realm offers a vast array of networking opportunities that can complement and expand your real-world connections.

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4 Collaborate Widely

Collaboration is key to a robust product innovation network. Seek partnerships with other companies, academic institutions, or research organizations. These collaborations can provide access to new technologies, research findings, and a broader customer base. When entering into partnerships, ensure that there's a clear understanding of each party's contributions and expectations. Successful collaborations are built on trust, shared goals, and open communication.

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Huram Konjen

Executive · Digital Innovation · Life Science · Finance · ex Deloitte
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Launch an open innovation challenge that invites external collaborators, including startups, academic institutions, and the public, to solve a difficult problem. Open innovation platforms are an easy way to expand your network and bring in diverse perspectives.

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5 Nurture Relationships

Building a network is one thing; maintaining it is another. Nurturing your relationships is essential for a sustainable network. Keep in touch with your contacts regularly, not just when you need something. Share relevant information, congratulate them on their achievements, and offer assistance when possible. A strong network is a two-way street; you need to be as invested in the success of your contacts as you hope they will be in yours.

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Huram Konjen

Executive · Digital Innovation · Life Science · Finance · ex Deloitte
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Implement a digital platform designed for continuous engagement within your network, facilitating regular updates, success stories, and collaboration opportunities. This can serve as a hub for your network, encouraging members to share insights, offer support, and celebrate milestones together. By providing a space for ongoing interaction, you reinforce the value of each relationship and keep the network active and engaged, ensuring it remains a robust resource for innovation and support.

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6 Innovate Together

Finally, leverage your strengthened network to innovate together. Encourage joint brainstorming sessions, co-create prototypes, and test new concepts with your network partners. This collaborative approach can lead to breakthrough innovations that might not have been possible in isolation. By combining different skills, experiences, and viewpoints, you can create products that are truly innovative and have a higher chance of success in the market.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if your product innovation network is weak and needs strengthening?

1

2

3

4

5

6

7

1 Assess Needs

2 Build Connections

3 Leverage Online

4 Collaborate Widely

5 Nurture Relationships

6 Innovate Together

7 Here’s what else to consider

Product Innovation

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What do you do if your product innovation network is weak and needs strengthening?

1

2

3

4

5

6

7

1 Assess Needs

2 Build Connections

3 Leverage Online

4 Collaborate Widely

5 Nurture Relationships

6 Innovate Together

7 Here’s what else to consider

Product Innovation

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