Tips for Sustaining Innovation

Most companies claim they embrace failure. But walk into their Monday meetings, and watch people scramble to hide their missteps. I've seen it countless times. The same leaders who preach 'fail fast' are the first to demand explanations for every setback. Here's the uncomfortable truth:  Innovation dies in environments where people feel safer playing it safe. But there's a difference between reckless failure and strategic experimentation. Let me show you exactly how to build a culture that genuinely embraces productive failure: 𝐂𝐡𝐚𝐧𝐠𝐞 𝐲𝐨𝐮𝐫 𝐩𝐨𝐬𝐭-𝐦𝐨𝐫𝐭𝐞𝐦 𝐦𝐞𝐞𝐭𝐢𝐧𝐠𝐬 Stop asking "Who's fault was this?" and start asking: "𝘞𝘩𝘢𝘵 𝘩𝘺𝘱𝘰𝘵𝘩𝘦𝘴𝘪𝘴 𝘸𝘦𝘳𝘦 𝘸𝘦 𝘵𝘦𝘴𝘵𝘪𝘯𝘨?" "𝘞𝘩𝘢𝘵 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤 𝘥𝘢𝘵𝘢 𝘥𝘪𝘥 𝘵𝘩𝘪𝘴 𝘧𝘢𝘪𝘭𝘶𝘳𝘦 𝘨𝘪𝘷𝘦 𝘶𝘴?" "𝘏𝘰𝘸 𝘤𝘢𝘯 𝘸𝘦 𝘶𝘴𝘦 𝘵𝘩𝘪𝘴 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘰𝘶𝘳 𝘯𝘦𝘹𝘵 𝘪𝘵𝘦𝘳𝘢𝘵𝘪𝘰𝘯?" 𝐂𝐫𝐞𝐚𝐭𝐞 '𝐞𝐱𝐩𝐞𝐫𝐢𝐦𝐞𝐧𝐭 𝐬𝐡𝐨𝐰𝐜𝐚𝐬𝐞𝐬' Monthly meetings where teams present their failed experiments and the insights gained. The key? Leaders must go first. Share your own failures openly, specifically, and without sugar-coating. 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭 𝐭𝐡𝐞 "24-𝐡𝐨𝐮𝐫 𝐫𝐮𝐥𝐞" After any setback, give teams 24 hours to vent/process. Then require them to present three specific learnings and two potential next steps. This transforms failure from a dead end into a data point. Most "innovative" teams are just risk-averse businesses in disguise. They've mastered innovation theater, not actual innovation. Don't let your people think they need permission to innovate. Instead, start building systems and a culture that make innovation inevitable.

Here’s a new, highly-timely way to classify innovations: FLEXIBLE vs. INFLEXIBLE. When chaos abounds, prioritize the FLEXIBLE. Yet companies usually spend most money and time on what’s INFLEXIBLE. Six ways to change the balance are: 1️⃣ Map your innovation portfolio How have you spread your bets along axes such as time horizon, type of risk taken, and ability to change course? Know where your portfolio is currently at, and what profile you wish to move toward. 2️⃣ Create options What are inexpensive bets you can place on ways your world might shift? Consider, for instance, low-cost products that might be embraced by customers feeling acute economic pressures. Perhaps these bets have a relatively large probability of not paying off – that’s OK if they’re taken inexpensively, keeping your financial risk small. 3️⃣ Think platforms, not products Platforms create flexibility to change what you offer customers, while retaining a sticky customer relationship. They often have a software component, even in the world of physical goods. 4️⃣ Stay focused on your customers’ constants We can be certain that today’s chaotic environment won’t settle down soon. But your customers’ Jobs to be Done stay fairly constant. Know those very well and concentrate on them. 5️⃣ Prioritize business model and service innovations Product innovation often takes time and multi-year planning. Business model and service innovations are much more flexible (and cheaper), yet oftentimes companies lack clear mechanisms to pursue these. Fix that. 6️⃣ Pursue Costovation You can concentrate some of the less flexible portions of your portfolio on cost innovation (Costovation), because your costs are often more controllable than your revenues. Use the tools of innovation to radically re-think your costs. The innovation literature has many classifications: disruptive vs. sustaining, existing vs. new market, etc. But it’s been rare to classify flexible vs. inflexible. Now’s the time to change that. When everything seems to be swirling, focus on what’s FLEXIBLE.

Ever found yourself facing a team that might not naturally be considered "creative," but you know deep down there's untapped potential waiting to be ignited? That's where the real magic happens – when you transform a group of individuals into a powerhouse of innovation! Here are a few strategies to nurture creativity in even the most unexpected places: 1️⃣ Diverse Perspectives: Embrace the beauty of diversity within your team. Different backgrounds, experiences, and skill sets can create a melting pot of ideas that spark innovation. 2️⃣ Encourage Curiosity: Cultivate a culture of questioning and curiosity. Challenge your team to explore the "what ifs" and "whys" to uncover new solutions. 3️⃣ Collaborative Storming: Gather your team for brainstorming sessions. Fostering an environment where no idea is too outrageous encourages free thinking and inspires unique concepts. 4️⃣ Cross-Pollination: Encourage your team to draw inspiration from unrelated fields. Sometimes, the most innovative solutions come from connecting seemingly unrelated dots. 5️⃣ Empower Ownership: Give individuals ownership of projects and allow them to take creative risks. When people feel their ideas matter, they're more likely to contribute their creative juices. 6️⃣ Learning from "Fails": Embrace failure as a stepping stone to success. Encourage your team to share their failures and lessons learned – these experiences often lead to innovative breakthroughs. 7️⃣ Structured Creativity: Implement frameworks like Design Thinking or Ideation Workshops. These structured approaches can guide your team to think creatively within a defined framework. 8️⃣ Celebrating Small Wins: Recognize and celebrate every small burst of creativity. This positive reinforcement encourages more innovative thinking. 9️⃣ Mentorship and Learning: Pair up team members with differing strengths. Learning from each other's expertise can lead to cross-pollination of ideas. 🔟 Lead by Example: Show your own passion for creativity. When your team sees your enthusiasm for innovation, it's contagious! Remember, creativity is not exclusive to certain roles or industries – it's a mindset that can be nurtured and cultivated. So, let's harness the potential within our teams, empower individuals to think outside the box, and watch as innovation unfolds before our eyes! #InnovationAtWork #whatinspiresme #culture #teamwork #CreativeThinking #TeamCreativity #LeadershipMindset #bestweekever

Fixing a leaky roof with duct tape might stop the drip, but it won’t weather the storm. In manufacturing, it's tempting to go for quick fixes when problems arise. But these temporary solutions can end up costing you more time and money in the long run. Instead of just putting out fires, let's focus on sustainable improvements. 𝐐𝐮𝐢𝐜𝐤 𝐖𝐢𝐧 𝐯𝐬 𝐐𝐮𝐢𝐜𝐤 𝐅𝐢𝐱:  A quick win is a small, achievable change that brings immediate benefits and aligns with long-term goals. A quick fix is a temporary solution that addresses symptoms but not the underlying problem, often leading to more issues later. Imagine integrating AI into your production line. A quick fix would be using AI to temporarily automate a specific task without fully understanding or addressing how it integrates with other processes. This may provide short-term relief but could create new issues down the line. A quick win, on the other hand, would involve piloting AI to optimize a particular segment of the manufacturing process, such as predictive maintenance. By experimenting with AI to predict when machines need servicing, you can immediately reduce downtime and maintenance costs. This approach not only showcases the technology’s potential benefits but also aligns with long-term goals of increased efficiency and innovation. 𝐇𝐞𝐫𝐞'𝐬 𝐒𝐨𝐦𝐞 𝐀𝐝𝐯𝐢𝐜𝐞: 𝟏. 𝐓𝐡𝐢𝐧𝐤 𝐋𝐨𝐧𝐠-𝐓𝐞𝐫𝐦: Invest in technology and processes that will scale with your business. Quick wins are great, but make sure they're steps toward lasting solutions. 𝟐. 𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐳𝐞 𝐐𝐮𝐚𝐥𝐢𝐭𝐲: Enhancing the quality of your products or processes can lead to significant long-term value. Quality reduces waste and improves customer satisfaction. 𝟑. 𝐄𝐦𝐩𝐨𝐰𝐞𝐫 𝐘𝐨𝐮𝐫 𝐓𝐞𝐚𝐦: Equip your workforce with the tools and training they need to innovate and excel. An empowered team is your best asset for driving sustainable change. Remember, it's all about enhancing, not just extending. Let’s build a future that's strong and resilient. ******************************** • Follow #JeffWinterInsights to stay current on Industry 4.0 and other cool tech trends • Ring the 🔔 for notifications!

In “The Venture Mindset”, we explore how successful companies foster innovation by prioritizing people over rigid processes. However, placing people over process does not mean that there is no process at all.     Chaos doesn't necessarily translate into innovation; moreover, it can easily destroy ideas. The design should facilitate cutting through quite a bit of the internal bureaucracy and keeping the development team small, independent, fluid, and protected from internal politics. Let's examine two examples of this principle in action: Case Study 1: Gmail at Google Google's approach to Gmail is a textbook example of the power of trusting talented individuals: 1. The project started with a single engineer, Paul Buchheit.  2. Leaders provided a vague directive: "Build some type of email or personalization product."  3. There were no strict feature lists or rigid processes.  4. Google executives supported the project and bet on its potential. Result: Gmail revolutionized email services and became one of Google's most successful products.    Case Study 2: The Happy Meal at McDonald's The Happy Meal's success shows how intrapreneurship can thrive even in traditional corporate environments: 1. Yolanda Fernández de Cofiño, a McDonald's franchisee in Guatemala, developed the concept.  2. She created a children's menu without approval from headquarters.  3. McDonald's world conventions allowed for idea exchange.  4. Executives recognized the potential and scaled the idea globally.  Result: The Happy Meal became a worldwide success and a staple of McDonald's offerings.    Here is what you can do to support the employees in your company:  1. Trust your talent: Give motivated individuals the freedom to pursue their ideas.  2. Provide resources: Offer support and necessary tools without micromanagement.  3. Create "racetracks": Design systems that allow for rapid development and testing of new ideas, with clear funding mechanisms, simple rules, guardrails, and milestones.  4. Embrace calculated risks: Be willing to bet on promising projects, even if they're unconventional.  5. Scale successes: When local innovations show promise, be ready to implement them more broadly.    How does your organization balance structure and freedom to foster innovation? Share your thoughts and experiences in the comments! #stanford #stanfordgsb #venturecapital #startups #innovation #technology #founders #venturemindset 

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

The most innovative idea your team had this quarter? You probably killed it before it ever reached you. I recently worked with two leaders facing identical challenges:  Declining market share and pressure to innovate. Their approaches couldn't have been more different. Leader A tightened control:  → Requiring approval for any process changes,  → Detailed justification for new ideas, and  → Multiple sign-offs before experimentation. Leader B was more flexible:  → Created "innovation time" for process improvements,  → Empowered teams to test small changes, and  → Celebrated intelligent failures. Six months later, the results were stark. Leader A's team had generated zero process improvements and two employees had left for "more innovative companies." Leader B's team had implemented 12 efficiency improvements, reduced waste by 18%, and became the department other teams looked to for creative solutions. The difference? One suffocated innovation through control,  The other cultivated it through ownership. Many leaders think innovation requires: ❌ "Big budgets and R&D departments" ❌ "Special creative people with unique skills" ❌ "Perfect conditions and unlimited resources" But here's what I've learned coaching leaders: ✅ Innovation thrives when people feel safe to experiment ✅ The best ideas come from those closest to the problems ✅ Ownership culture is the foundation of creative problem-solving The more you control the innovation process, the less innovation you actually get. The more ownership you create, the more creative solutions emerge. Your competition isn't just trying to out-execute you: They are trying to out-innovate you. And innovation doesn't happen in environments where every idea needs approval. Ready to transform from innovation killer to innovation catalyst? My Creating a Culture of Ownership program helps leaders build environments where creativity and accountability work together to drive results. And you can know more about it in a FREE webinar. Check out the details here: https://lnkd.in/gWEuYWpG