Innovation is messy, is about trying, failing, learning... and trying again. It is not an "Eureka moment"
Bruno Coelho
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Today innovation is a top c-suite priority.
In our latest study Business Priorities 2021, covering 250 CEOs, we found that in Portugal 47% business leaders are expecting to deliver differentiated value through innovation (1).
Innovation is one of the most overused terms in modern business.
We have never seen another time in history when so many areas were being disrupted by new technologies, with software invading all aspects of our lives, the increase of computational power, artificial intelligence, machine learning, quantum computing – just to name a few.
Innovation begins by challenging the status quo.
Innovation starts when we step back and ask fundamental questions like:
1.????Why do we do these “things this way”?
2.????Why is this “area” not explored yet?
Innovation starts when we addressed the world through the eyes of a curious child. A child that just wants to make the world better.
“Eureka moments” is a myth, innovation is a compounded effect of all previous failures.
Eureka moments might come while taking shower. Eureka moments might be a flash of brilliancy.
However, breakthrough moments like “Eureka moments” are a consequence of countless trials and potential lessons from pasts failures.
Even Darwin, Newton and Edison, didn’t have a Eureka moment. They had their theories tested and evolved through years and countless experiments (2).
For the learnings to accumulate after each error, each trial, there must be a consistent innovation process to push the envelope forward each single time.
Innovation: Trying, failing, learning… and then, try again.
It’s about starting with a hypothesis and test it.
It’s about being able to capture the answer to “why it didn’t work”?
It’s about formulating: What if we pursue “this way” the next try?
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It’s about starting over while keeping a continuum of learning from failures to foster new ideas.
In summary: In innovation, failure is a necessary part of success (3).
Innovation is entangled with a safe-to-fail environment.
I am often faced with innovative ideas that have been supported previously, but by unclear reasons, hasn’t deliver as promised.
The follow-up question arises: “How many promising ideas, investments cases have you declared as failures in the last years?”
If the answer is vague … most likely there’s trouble.
If failure is not an option, after the first innovation cycle step, the experiment overextends beyond any reasonable chance of success.
If failure is not an option, means the innovation sponsor will not hear “it’s a failure”.
If failure is not an option, means that the resources will be scattered supporting a portfolio of previously promising ideas with corresponding excuses, instead of learning why it failed, and try again (4).
I ask again: How many previous promising ideas were declared as failures in the last years?
Start innovation with a purpose in mind: fulfill the company’s long-term vision
Innovation can be applied to many areas.
Innovation misaligned with your company’s long-term vision is pointless.
Innovation must be aiming to bring tangible value to the business, as a disruptive technology, disruptive service, or a competitive edge.
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