BAUU 55 - The Ultimate Guide to Building a Culture of Innovation
Rick Yvanovich FCMA CGMA FCPA MSc CCMP CCMC CBC MCH PCC
Certified Chief Master coach, entrepreneur, author, and speaker | Bridging technology, accounting, and people, I’m a catalyst inspiring human transformation for consistently higher achievement.
Welcome back to the Business As UnUsual (BAUU) TL;DR solutions for leaders. In this edition, we dive into a critical driver of long-term success and adaptability: Innovation.
Innovation isn’t just about having great ideas—it’s about creating a culture where creativity thrives, risks are embraced, and bold solutions emerge consistently. Leaders must not only inspire innovation but also provide the systems, mindset, and support structures to make it sustainable across their organisations.
The format is:
"Innovation distinguishes between a leader and a follower." — Steve Jobs
Problem
While many organisations claim to value innovation, few succeed in embedding it into their day-to-day culture. Common barriers include:
Research by McKinsey & Company shows that 84% of executives believe innovation is critical for growth, yet only 6% are satisfied with their company’s innovation performance.
How can leaders foster a culture where innovation isn’t just encouraged but embedded into every layer of the organisation?
TL;DR Solution
Adopt the SPARK Framework to build, nurture, and sustain a culture of innovation that drives results and inspires creativity across your teams.
S = Support Risk-Taking
Best Practice: Encourage experimentation and celebrate lessons from failure.
Practice: Create a “Fail Forward” initiative where teams share learnings from setbacks.
Impact: Reduces fear of failure and empowers creative problem-solving.
P = Promote Collaboration
Best Practice: Foster cross-functional collaboration and open idea-sharing.
Practice: Hold monthly brainstorming sessions across different teams.
Impact: Breaks silos and amplifies collective creativity.
A = Allocate Time for Creativity
Best Practice: Dedicate time for employees to focus on innovative projects.
Practice: Introduce “Innovation Fridays” for team members to work on passion projects.
Impact: Ensures innovation isn’t deprioritised in favour of routine tasks.
R = Recognise and Reward Ideas
Best Practice: Celebrate innovative ideas, regardless of success or failure.
Practice: Create an “Innovator of the Month” recognition programme.
Impact: Builds motivation and reinforces a culture of contribution.
K = Keep Communication Open
Best Practice: Create channels for ideas to be shared transparently across the organisation.
Practice: Launch an internal innovation portal for idea submissions and tracking.
Impact: Encourages participation and ensures every voice is heard.
"The best way to have a good idea is to have lots of ideas." — Linus Pauling
Why SPARK?
The SPARK Framework was designed to address common barriers to innovation while creating sustainable systems for creativity and experimentation.
Innovation isn’t accidental—it’s intentional. SPARK provides the structure leaders need to make it happen.
"Innovation happens when people feel safe to share bold ideas and brave enough to pursue them." — Rick Yvanovich
Try This
1. Innovation Fridays
Action: Dedicate one Friday a month for team members to work on passion projects or explore innovative ideas.
Frequency: Monthly
Impact: Provides time and space for creativity to flourish.
2. Fail Forward Sessions
Action: Hold quarterly sessions where teams share lessons learned from failed experiments.
Frequency: Quarterly
Impact: Normalises failure and fosters a growth mindset.
3. Innovation Challenge
Action: Host a company-wide innovation challenge with rewards for the best ideas.
Frequency: Annually
Impact: Encourages participation and fresh thinking across the organisation.
"Creativity is thinking up new things. Innovation is doing new things." — Theodore Levitt
It’s a Wrap
That’s it for today, see you next week.
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As always, be happy, healthy, joyful, and wealthy.
/Rick
Need Personalised Guidance?
Looking to embed a culture of innovation in your organisation or build systems for sustainable creativity? Feel free to reach out for a coaching session, and let’s ignite your team’s potential together.
?? This edition aligns with Business As UnUsual: How to Thrive in the New Renaissance.
Get your copy for more on thriving in uncertainty here: https://www.rickyvanovich.com/books
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