Can Innovation Scare Innovators Away?
I was invited to speak at the Chief Innovation Officer Summit this week in San Francisco. There were great presentations from innovators at companies like Google, LinkedIn, Gatorade and The US Government. Great folks.
I titled my talk "Can Innovation Scare Innovators Away?" as a conversation about the increasingly broad use of the term "innovation" and how misused definitions, as well as other company behaviors, can have the opposite effect of spurring innovation, and will result in innovators leaving and retreating.
I advised my peers to ensure they had senior executive support for innovation as well as an agreed upon definition, hopefully something close to the textbook one: "a person who introduces new methods, ideas, or products" and not an often-implied one: "find growth for this year’s P&L with no incremental investment & little disruption to how we’re currently doing things"
The 4 key behaviors that I observed that may drive innovators away were:
- Shooting the pioneers
- Condemning failure
- Miring it in process and consensus
- Making sure it’s perfect
Honest conversations and education of colleagues and executives are critical to changing these anti-innovation behaviors and beginning on a path toward a more successful innovation journey.
We need to be brave and willing to be pioneers, we need to learn from and share our failures, we need to create parallel processes that better support innovation, and we need to build minimally awesome products and processes to show that innovation can work in our companies.
If you want a copy of my presentation and notes, let me know. And if you have observed any other behaviors that can scare away innovators, please share!
Strategy / Marketing & GTM / Data Driven PLG / Corporate Innovation / AI / SaaS / Consumer / Personal Finance / Strategy & Operations / Data Security and Compliance /
7 年I would like to get a copy of your presentation notes and also add that corporate innovation can definitely scare innovators away. The McKenna Group came to Yahoo at the time it was struggling and as Msft was making a 2nd bid. During Q&A, we asked if from his perspective whether corporations were good at embracing the risks of innovation. He said definitely not that he could see, and that most companies he consults with will only acquire innovation. Everyone was talking about innovation but no one could do it.
AgTech / FinTech Growth Leader
7 年Completely agree. Innovative initiatives are often, and incorrectly, held to the same success metrics as more traditional P/L activities. The companies that get these 4 key behaviors right build a culture of sustained innovation.
AI Mobile UXD Product Design Consultant | Innovation | ex-Block.one | Mobile & Responsive App Products | Community | Exchange | Health
7 年This is great.
Chief Enthusiasm Officer at FastStart.studio A mixed use business incubator.
7 年If one is not willing to suffer failures as a normal learning activity then they should probably not try to be an innovator / entrepreneur. Thanks for the presentation Carey.
Founder & CEO SpringFour I 2024 American Banker Most Influential Women in Fintech l Inc. Top 250 Female Founder 2024 I 2023 Finovate Innovator of the Year I Fast Company Brands that Matter I Real Leaders Top Impact Co.
7 年Great piece Carey Ransom