In the realm of innovation management, a common misconception is the 'all or nothing' approach, often top-down enforced. This mirrors a familiar misstep in startups: targeting too broad an audience too soon. In both cases, a more focused approach is not just beneficial, but essential.
The Startup Mindset in Corporate Innovation
Viewing innovation management akin to a startup launching a product, the key is to identify and engage with 'executive early adopters' within the organization. These are leaders open to innovative ventures, much like early adopters in the startup world who are the first to embrace new solutions.
Steps to Engage Executive Early Adopters
Define Business Goals with Innovation: Collaborate with these executives to determine specific business objectives achievable through innovation. These can range from generating new revenue streams to improving operational efficiency or addressing challenges with startup technology.
Secure Executive Commitment: Ensure these leaders are committed to discussing innovation openly, encouraging employee participation, and integrating successful pilots into official work plans.
Construct and Present the Innovation Funnel: Develop and showcase viable opportunities to these executives. Broaden the engagement by including other leaders as judges or observers in events where these opportunities are displayed. This approach can trigger interest among previously non-cooperative executives, akin to 'writer's envy', leading to a wider adoption of the innovation funnel.
The pathway to successful innovation in a corporate setting lies in treating it as a product offered to a target audience, in this case, the executive team. Securing their cooperation and treating them as early adopters of the innovation 'product' are crucial. This strategy, central to Spyre's methodology, ensures a more focused and effective approach to corporate innovation, mirroring successful practices in the startup world.