Best Practices for Innovative Business Planning

Far too often, I see leaders and companies move on from innovation, believing it's only necessary during the startup phase. In reality, it's what keeps companies alive and thriving. As companies grow, it's easy to fall into routine and let creativity fade. But innovation must continue-even as you scale. An older HBR article I came across this morning highlights how breakthroughs in management can create lasting advantages that are hard to replicate. Companies focused only on new products or efficiency often get quickly copied. To stay ahead, businesses must become "serial management innovators," always seeking new ways to transform how they operate. This idea remains as relevant now as it was back then. The benefits of sustained innovation are undeniable: •Competitive Edge •Increased Revenue •Customer Satisfaction •Attracting Talent •Organizational Growth and Employee Retention Embrace the innovation lifecycle-adapting creativity as your organization matures. Sustaining creativity means creating an environment where people feel safe to push boundaries. Encourage your teams to think big, take risks, and use the experience of your organization. Here are three strategies that I’ve seen work firsthand: Make Experimentation a Priority: Mistakes are part of the process—they help us learn, grow, and innovate. As leaders, share your own experiences with risk-taking, talk about what you've learned, and celebrate those who take bold steps, even when things don’t go as planned. It sends a powerful message: it's okay to take risks. Promote Intrapreneurship: Many of the best ideas come from those closest to the work. Encourage your people to think like entrepreneurs. Give them ownership, the tools they need, and the freedom to explore. Whether it’s through ‘innovation sprints’ or dedicated time for passion projects, showing your team that their creativity matters sustains momentum. Address big challenges, ask tough questions, and let your people feel empowered to tackle them head-on. Break Down Silos: True innovation happens when people connect across departments. Create opportunities for cross-functional interactions-through gatherings, open forums, or spontaneous connections. Diverse perspectives lead to game-changing solutions, and breaking down silos opens the door to that kind of synergy. Innovation doesn’t happen by accident. It requires dedication, a commitment to growth, and a willingness to challenge what’s always been done. To all the leaders out there: How are you ensuring your teams remain creative and engaged? What strategies have you found that create space for bold ideas within structured environments? —-- Harvard Business Review, "The Why, What, and How of Management Innovation" #Innovation #Leadership #ContinuousImprovement #Creativity #BusinessGrowth #Intrapreneurship #CrossFunctionalCollaboration #ImpactLab

When I set out to look at frameworks and design toolkits for entrepreneurs, most help you think holistically about all the moving parts of a business, but I found few that also help you think from a systemic lens about the outcomes of a business while being human-centered. I’m compiling a set of resources and tools that help do exactly that for sustainable innovation and business design. Here are a few actionable frameworks  and toolkits that stood out: 🔵 The Flourishing Business Canvas by Strategic Innovation Lab • An upgraded version of the traditional Business Model Canvas, the canvas helps you think to integrate social benefits and environmental regeneration along with financial viability. • Who it's for: Folks starting a new enterprise, or developing a new strategy for an existing business. • https://lnkd.in/gJMXeBP8    🔵 Circular Business Design Guide by PA Consulting, Ellen MacArthur Foundation & University of Exeter • This guide offers step-by-step guidance to identify circular business opportunities, value propositions, capabilities, and pricing strategies • Who’s it for: Business leaders wanting to understand how they can create, deliver and capture value from circular practices • https://lnkd.in/gJZJhAbX 🔵 Doughnut Design for Business by Doughnut Economics Action Lab (DEAL) • A taster tool for enterprise design that takes 2 hours to fill out and helps explore five design layers: a company’s Purpose, Networks, Governance, Ownership, and Finance. • Who it’s for: Organisations or individuals who can gather multiple businesses for a workshop - Accelerators, Incubators, etc. It can also be used by those working within or with an individual business. • https://lnkd.in/gvbSDQJV 🔵 P.ACT-Co-design Partnerships Tool by MIT D-Lab • A set of 12 Practical Tools for Co-designing Inclusive Partnership Models by MIT’s D-Lab - helps co-create have a shared understanding and buy-in for the value created and captured within the partnership • Who it's for Impact entrepreneurs, intrapreneurs, partnership brokers and facilitators, and accelerators supporting impact entrepreneurs** • https://lnkd.in/gaqC9aNz    🔵 Circularity Deck by Jan Konietzko at Delft University of Technology • This deck has specific strategies to incorporate circularity into a business model along with case studies that show how it produced clear tangible business outcomes like lower operating costs or increased customer retention etc. • Who it's for: Business leaders ideating and aligning teams around a circular economy. • https://lnkd.in/gtPVnGuJ ⚫ What are other tools and methods that folks in this space have found valuable to share? #innovation #circularbusiness #designstrategy #designtools

HOW TO CREATE SAFE SPACES FOR UNSAFE IDEAS You hire brilliant people and tell them to innovate. Then you make it impossible for them to do so. Most companies develop an immune system that rejects new ideas like they're some kind of virus. Here are the five innovation killers you need to spot and eliminate: KILLER #1: DEMANDING CRYSTAL BALL ACCURACY You want detailed business cases for projects that are inherently uncertain. The fix: Create different approval processes for exploration vs. execution. Exploration projects get smaller budgets and you measure success by what you learn, not what you earn. KILLER #2: BEING SCARED OF EVERYTHING Your processes are designed to avoid any downside risk, which also kills any upside potential. The fix: Separate "experiments you can't afford to mess up" from "experiments you can't afford not to try." Different projects, different comfort levels with risk. KILLER #3: MAKING INNOVATION FIGHT FOR SCRAPS Innovation projects have to compete with your proven money-makers for resources. The fix: Set aside dedicated innovation resources. 10% of engineering time, 5% of budget, just for projects where you don't know what'll happen. KILLER #4: JUDGING EVERYTHING ON QUARTERLY RESULTS You evaluate innovation projects on the same timelines as your day-to-day operations. The fix: Innovation gets measured by learning cycles, not calendar quarters. Success is about insights you gain, not deadlines you hit. KILLER #5: THINKING FAILURE MEANS SOMEONE SCREWED UP You define success as "execute the original plan perfectly." The fix: Success becomes "figure out what works as fast as possible." Changing direction gets celebrated, not punished. The framework that can transform your innovation culture: EXPLORE → EXPERIMENT → EXECUTE EXPLORE PHASE: Small budget, big questions. Win = quality insights. EXPERIMENT PHASE: Medium budget, specific hunches. Win = fast validation (or fast failure). EXECUTE PHASE: Full budget, proven concept. Win = flawless delivery. Different phases, different rules, different ways to win. Companies don't lack innovative ideas. They lack innovative environments. QUESTIONS TO DIAGNOSE YOUR INNOVATION IMMUNE SYSTEM: ❓How many good ideas die in approval meetings instead of real-world tests? ❓What percentage of your "failed" projects actually teach you something valuable? ❓How long does it take to get approval for a $10K experiment vs. a $10K efficiency upgrade? ❓Do your best people feel comfortable pitching risky ideas? If your best employee came to you tomorrow with a risky but potentially game-changing idea, would they feel safe pitching it? *** I’m Jennifer Kamara, founder of Kamara Life Design. Enjoy this? Repost to share with your network, and follow me for actionable strategies to design businesses and lives with meaning. Want to go from good to world-class? Join our community of subscribers today: https://lnkd.in/d6TT6fX5 

There’s no denying the efficacy of Objectives and Key Results (OKRs) in driving alignment and focus within an organization. They've been a cornerstone in the strategic toolbox of many companies. However, when it comes to catalyzing innovation, OKRs can sometimes prove to be more of a straitjacket than a springboard. Here's why: 1️⃣ OKRs can stifle creativity: OKRs are typically tied to specific, measurable outcomes. While this works well for tracking progress, it can limit expansive, generative thinking. In an effort to 'meet targets', teams might be discouraged from exploring bold, disruptive ideas. 2️⃣ OKRs can create a tunnel vision: With a laser focus on the key results, organizations might overlook peripheral opportunities or 'happy accidents' that might have tremendous innovative potential. 3️⃣ OKRs may not adapt quickly: In the ever-changing landscape of innovation, the desired outcome can shift faster than the OKRs do. Rigidity can hamper adaptability, a core trait of any innovative organization. So, if not OKRs, then what? 💡 Enter Innovation Accounting: This is a way of evaluating progress when all the metrics typically used in an established company (like revenues and profits) are effectively zero. It involves creating a balanced scorecard that takes into account not just the financials, but also aspects like customer satisfaction, market validation, and process improvements. 💡 MVP and Iterative Experimentation: Instead of focusing solely on end-goals, the innovation process should be seen as a series of hypotheses that need to be tested. Develop minimum viable products, collect data, and learn. This allows you to adapt and evolve based on real-world feedback. 💡 Pulse Metrics: These are short-term, leading indicators of success that provide insight into whether you're on the right track. They're flexible, quickly adaptable, and keep a finger on the pulse of your innovation efforts. Innovation requires the courage to venture into the unknown and the wisdom to know "failure" isn’t a roadblock, but a stepping-stone. The right measurement framework can provide the freedom to experiment, iterate, and ultimately, innovate. #Innovation #OKRs #InnovationAccounting #MVP #PulseMetrics #BusinessStrategy

Planning something new? Clients of the Umbrex Innovation Practice asked us to compile a set of tools, frameworks, and templates needed to drive innovation from ideation to execution. The result is the Corporative Innovation Playbook. Whether you’re launching a centralized innovation hub, deploying design thinking at scale, or building an ecosystem of startup partners, this guide provides a comprehensive, step-by-step roadmap. Learn how to structure innovation governance, fund portfolios, build capabilities, and scale impactful initiatives—while avoiding common pitfalls and aligning with enterprise strategy. Table of Contents: Chapter 1. Foundation and Context 1.1 Purpose and Scope of the Playbook 1.2 Definitions and Taxonomy of Innovation Types 1.3 The Innovation Imperative in Corporations 1.4 Common Barriers to Innovation 1.5 Quick‑Start Assessment Checklist Chapter 2. Innovation Strategy and Governance 2.1 Aligning Innovation with Corporate Strategy 2.2 Setting Innovation Ambition and Goals 2.3 Governance Structures and Decision Rights 2.4 Strategy Development Step‑by‑Step Guide 2.5 Governance Charter Template 2.6 Executive Steering Committee Checklist Chapter 3. Portfolio Management and Funding 3.1 Portfolio Segmentation Framework (Core, Adjacent, Transformational) 3.2 Stage‑Gate vs. Venture Portfolio Approaches 3.3 Funding Models and Budget Allocation Methods 3.4 Portfolio Management Step‑by‑Step Guide 3.5 Investment Committee Checklist 3.6 Portfolio Dashboard Template Chapter 4. Culture and Leadership 4.1 Attributes of an Innovative Culture 4.2 Leadership Behaviors that Enable Innovation 4.3 Incentives and Recognition Systems 4.4 Culture Diagnostic Checklist 4.5 Leadership Activation Step‑by‑Step Guide Chapter 5 . Innovation Operating Model 5.1 Organizing for Innovation: Centralized, Hub‑and‑Spoke, Dual 5.2 Roles and Responsibilities Matrix 5.3 Process Governance and Stage Definitions 5.4 Operating Model Design Step‑by‑Step Guide 5.5 RACI Template Chapter 6. Ideation and Opportunity Discovery [abridged due to character limit] Chapter 7. Concept Development and Validation Chapter 8. Incubation and Experimentation Chapter 9. Acceleration and Scaling Chapter 10. Open Innovation and Ecosystem Partnerships Chapter 11. Corporate Venture Capital and M&A for Innovation Chapter 12. Technology and Digital Innovation Chapter 13. Metrics, KPIs, and Performance Management Chapter 14. Risk, Compliance, and Intellectual Property Chapter 15. Talent, Skills, and Capability Building Chapter 16. Infrastructure, Tools, and Platforms Chapter 17 . Communication, Change Management, and Stakeholder Engagement Chapter 18. Continuous Improvement and Innovation Maturity Chapter 19. Implementation Roadmaps and Templates

"Disrupt or be disrupted" has become the battle cry of business gurus everywhere. But what if the obsession with radical reinvention is actually holding your company back? The surprising truth many businesses discover too late: strategic evolution often outperforms high-risk transformation when it comes to sustainable growth and profitability—especially for small and medium-sized businesses with limited resources. Breakthrough Innovation ✅ Opens entirely new markets ✅ Can position you as an industry leader ✅ Potential for exponential growth ❌ High failure rate (most attempts fail) ❌ Requires significant resource investment ❌ Often conflicts with existing business priorities. Evolutionary Innovation ✅ Builds on existing strengths ✅ Lower risk profile ✅ Faster implementation and ROI ✅ Aligns with current customer relationships ❌ Smaller growth increments ❌ Less protection from disruptive competitors. So, where to focus your innovation efforts? Before starting a "disruption journey," consider: 👉 Understand the current stage of your business. Are you at the beginning of the journey, or is your business already consolidated? This determines which innovations will gain traction and which will struggle. 👉 Innovate within your model first. A local bakery can expand into online ordering and subscription boxes without changing its core product expertise. What's your equivalent opportunity? 👉 Create separate spaces for breakthrough innovation. When testing radically different approaches, establish separate teams with different metrics. 👉 Focus on the job, not just the product. Businesses should ask, "What problem are we really solving?" rather than "How can we improve our product?" 👉 Evaluate innovation fit with two questions: Does this innovation serve a similar customer job? Is it compatible with our profit formula (margins, resources, processes)? The strongest businesses aren't constantly reinventing themselves—they're strategically balancing evolution and revolution. Your business doesn't need to transform completely to innovate meaningfully. Understanding your model's natural evolution might be the most powerful innovation insight of all.

How can ordinary business become innovation powerhouses? They can start by embracing four, too-rare practices. Here's a summary of them from my Harvard Business Review article and 50+ interviews across companies like Google, Microsoft, and Levi's: 🔍 1. Trend Sensing Don’t just chase hype; develop systems to spot early, actionable signals. PepsiCo’s "Do Us A Flavor" contest, ostensibly to find its new flavor of Lay's potato chip, was really about surfacing emerging consumer tastes in real time. 🤝 2. Strategic Partnerships Innovation thrives beyond company walls. From Johnson & Johnson’s university incubators to Levi’s collaboration on "smart" clothing with Google, long-term alliances often fuel the boldest moves. 💡 3. Intrapreneur Programs Ideas die without oxygen. Give employees space (and safety) to test bold concepts. Google lets teams pitch and develop ideas for 6 months—no penalty if they fail. 🌐 4. Innovation Communities Innovation is social. Bayer built a 700-person internal network to swap insights across functions—sparking new business models like agricultural finance from unlikely places. A link to the HBR article is in the Comments below. Innovation isn’t just about serendipity—it’s about systems. Are you investing in the right ones?

When I was head coach for Satya Nadella’s innovation team, I helped leaders think in two modes: 1️⃣ 𝗥𝘂𝗻 𝘁𝗵𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀s – Sustain and optimize today’s success. 2️⃣ 𝗖𝗵𝗮𝗻𝗴𝗲 𝘁𝗵𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 – Disrupt, innovate, and build tomorrow. I call this 𝗧𝘄𝗼-𝗧𝗿𝗮𝗰𝗸 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 (or 𝗕𝗶𝗺𝗼𝗱𝗮𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀). It’s a simple but powerful mental model that unlocks innovation while keeping the core business strong. Without this mindset, 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗳𝗲𝗲𝗹𝘀 𝗹𝗶𝗸𝗲 𝗮 𝗳𝗶𝗴𝗵𝘁—a tug-of-war between what works now and what’s needed for the future. But when leaders get this right, 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗴𝗲𝘁𝘀 𝗲𝗮𝘀𝗶𝗲r. 🔹 𝗧𝗿𝗮𝗰𝗸 #1: 𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 (𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗶𝗻𝗴) 👉 Current customers, business models, products, talent, and KPIs 🔹 𝗧𝗿𝗮𝗰𝗸 #2: 𝗙𝘂𝘁𝘂𝗿𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗡𝗼𝘄 (𝗗𝗶𝘀𝗿𝘂𝗽𝘁𝗶𝘃𝗲) 👉 Future customers, new business models, emerging talent, and fresh KPIs The key? Working backward from 𝗯𝗼𝗹𝗱, 𝗳𝘂𝘁𝘂𝗿𝗲-𝘀𝘁𝗮𝘁𝗲 𝘀𝗰𝗲𝗻𝗮𝗿𝗶𝗼𝘀 while taking action today. You run small 𝗲𝘅𝗽𝗲𝗿𝗶𝗺𝗲𝗻𝘁𝘀, 𝘃𝗮𝗹𝗶𝗱𝗮𝘁𝗲 new value, and 𝗱𝗶𝘀𝗿𝘂𝗽𝘁 𝘆𝗼𝘂𝗿𝘀𝗲𝗹𝗳 before the market does it for you. 🔹 This approach helped Fortune 500 leaders reimagine their industries. 🔹 It helped teams unlock billion-dollar breakthroughs. 🔹 And it made “innovation” a system, not a slogan. Leaders who master this approach 𝘄𝗶𝗻 𝘁𝗼𝗱𝗮𝘆 𝗮𝗻𝗱 𝘀𝘁𝗮𝘆 𝗿𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝘁𝗼𝗺𝗼𝗿𝗿𝗼𝘄. Are you running your business AND changing it at the same time? #innovation  #leadership

As I speak to c-suite executives and leaders across all sectors I continue to hear that scenario planning has become an ongoing business practice. Navigating uncertainty is no longer a short-term disruption—it’s become a defining feature of the business environment. Whether you're leading in healthcare, AI, retail, tech, or small business, the need to adapt quickly and think cross-functionally is universal.  We are operating in an era of continuous evolution. Embracing this mindset shift is what will empower leaders to identify and seize opportunity, even amid uncertainty. While adaptability often begins as a reaction, it’s also a proactive discipline—one that requires scenario planning, cross-functional alignment, anticipation of emerging trends, and a sharp focus on identifying unique market advantages and unlocking new avenues for growth. Disruption, at times, becomes the catalyst that sharpens clarity and accelerates strategic focus. There are strategic lessons to be learned in how we engage in this moment—not just for resilience, but for long-term growth. The companies and leaders who recognize this period as something to actively engage with, will be the ones who uncover opportunity amid uncertainty. A Few Key Tips: - Shift from Reactive to Proactive Strategy - Don’t just respond to change—anticipate it. Build agility into your planning through scenario mapping and early signal detection. - Think and Act Cross-Functionally - True adaptability requires collaboration across teams. Break down silos to unlock new insights and accelerate coordinated decision-making. - Treat Disruption as a Strategic Lever - View uncertainty not as a setback, but as a catalyst for clarity. It’s often in disruption that new growth paths and market openings emerge. - Continuously Reassess Your Advantage - In a fast-evolving landscape, your competitive edge isn’t fixed. Regularly reevaluate your value proposition and look for fresh whitespace to lead. Are you treating uncertainty as something to manage—or as a moment to lead? #leadership #business

Innovation is not a random flash of brilliance. It is not dependent on luck. It's a business process that can be measured, managed, and optimized just like any other. Yet all too often product leaders cling to the outdated notion that innovation is more art than science. They fear that imposing process will somehow suffocate the creative spirit. But here's the hard truth: if you believe that innovation is more about luck than process, you're consigning your company to a future of aimless guesswork and 70%+ failure rates. Successful innovation requires embracing it as a discipline. How do you make the shift? Start by educating your teams on proven innovation methods like Outcome-Driven Innovation (ODI), a process that puts Jobs-to-be-Done Theory into practice. This approach provide a structured framework for uncovering unmet customer needs, formulating strategy, and systematically devising winning solutions. But be warned: deeply ingrained mindsets don't change overnight. It takes persistent evangelism from leaders like you to help the organization unlearn old ways and master the true craft of innovation. The payoff is worth it. By making innovation a core competency, you can replace guesswork with repeatable success. Luck is a fickle friend - process is a reliable partner.