There is no one “true” path to innovation. It’s not always this big “aha” moment or idea. As long as what you deliver solves your users' needs and is done before anyone else in your competitive space, you’ve achieved innovation.
Keep reading and watch the webinar recording to discover how to break down innovation barriers and deliver customer value.
Aligning on innovation
Innovation is the process of creating something new or optimizing something to meet, exceed and anticipate future user needs in a way that hasn’t been done before.
Innovation exists on a continuum with three main points:
Improving existing capabilities in existing markets
Case study: Global life sciences company
New product innovation
Developing new products allows a company to draw on existing capabilities for new uses
Case study: Google Cloud Next
Innovating not just your products but your business model as well.
Case study: Real Sportscards
Common barriers to innovation
Once you’ve identified where you exist on the innovation continuum, you can triage the common innovation barriers and how best to combat them to enable growth.
Most common barriers:
- Lack of organizational alignment
- Siloed ideation
- Decision-making without data and insights
- Executing an idea without testing it
Breaking through those barriers
- Define your innovation charter
- Strive for cross-functional, organization-wide innovation teams
- Balance innovation efforts across the innovation spectrum
- Ensure action after ideation
- Make a test and measurement plan
How to get started
The path to innovation doesn’t have to be singular or direct; working collaboratively towards a goal is when true innovation comes to life.
- Craft an up-front innovation goal tied to your organizational goals
- Talk to your users frequently and regularly
- Structure your teams to innovate effectively
- Focus on outcomes instead of outputs