Best Practices for Managing Innovation Projects

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 

I’ve been a huge fan of Tom Fishburne for years since we were classmates at Harvard Business School. Tom started drawing cartoons on the backs of HBS business cases, which evolve to become his famous and insightful Sky Deck cartoons.  I was always on the lookout for them. I invite my connections across all industries to subscribe to Tom’s insightful newsletter. Last week’s issue particularly resonated with me. Tom highlighted that labeling an idea as polarizing can quickly kill it, as businesses usually avoid such ideas in favor of safer, more universally appealing ones. However, there’s power in polarization. Trying to appeal to everyone often results in appealing to no one. In a cluttered world, the last thing a company can afford is to create indifference. Several years ago, I was helping the innovation group of a large carrier and saw firsthand the graveyard of idea killers. Many innovative ideas, often originating from those in the field who directly experience pain points, did not make it past the first round of evaluation. To help this carrier effectively evaluate innovative ideas and develop a repeatable process, we implemented a few key strategies: 1. Idea Champion Program: We assigned champions to promising ideas to advocate for them, gather feedback, and iterate on the concepts. 2. Cross-Functional Evaluation Committees: We created committees with members from various departments to ensure diverse perspectives in idea evaluation. 3. Fail Fast, Learn Faster: We encouraged a culture where failure is acceptable as long as we learn from it quickly. Prototyping and piloting ideas in controlled environments helped us make informed decisions. 4. Customer-Centric Approach: We focused on ideas that directly addressed customer/staff pain points, involving these stakeholders early in the development process. 5. Regular Review Cycles: We established regular review cycles for all submitted ideas to ensure they received proper attention. By implementing these strategies, we helped the carrier create an environment where innovative ideas could thrive. This process not only brought new solutions to the market but also fostered a culture of creativity and continuous improvement. Remember, the goal is not to avoid polarization but to harness it. Great ideas often provoke strong reactions, and that’s where their power lies. By creating a structured process to evaluate and nurture these ideas, we can ensure that they have the opportunity to make a significant impact. https://lnkd.in/eWfV_a-t

Your company's growth is a tightrope walk between innovation and complacency. Take too few risks? You'll be forgotten. Take the wrong risks? You'll compromise your brand. Plenty of the world’s most innovative companies we work with at Motto have figured it out, and we’ve seen some patterns. They expand boldly *without* compromising who they are. How’s this possible? By aligning innovation with their core values at the foundational level. Here's what that looks like in practice ↓ ⦿ Value-driven decision making Every new initiative should be measured against your company's fundamental beliefs. If it doesn't align, it's not worth pursuing. ⦿ Create a "failure budget." Allocate resources specifically for experimental projects Reward people for trying, not just succeeding. This tells your team it's okay — wonderful, even — to take calculated risks. ⦿ Implement an innovation framework. Set clear guidelines for new ideas. Leaders should ask themselves… → What will keep our company in the leader position? → What is the impact if we play it safe? → How will this innovation align (or not align) with our values? Make sure innovations contribute positively, inside and out. ⦿ Foster cross-pollination Form diverse "skunk works" teams. Give them a specific goal and deadline. Then, watch as fresh perspectives lead to groundbreaking ideas. ⦿ Embed values through education. Your team should breathe your company's values—When they do, even their boldest ideas will align with your core identity. Innovation isn’t about recklessness— It’s about daring to fly while staying true to your roots. When you master this balance true growth happens. Motto® helps tech companies align vision with bold growth. Let's talk about your next big move. → wearemotto.com

How Do You Avoid POC Purgatory and Prioritize Innovations with Big Returns? This is a question that comes up in every industry panel—and probably from your finance leaders too. But it’s not a new dilemma. Every time there’s a leap in technology—whether it was Big Data or now with Agentic AI—this question resurfaces. While true innovation can’t be fully predicted, I believe it can be programmed for a higher chance of commercial success. Here are three strategies that have worked for me: 1. Run Purposeful Hackathons Hackathons are everywhere, but too often, the energy fizzles out post-event. Instead, create theme-based tracks that align with your business strategy. Build cross-functional teams (data, domain, design) to ensure ideas are robust and actionable. 2. Commercial Innovation Process As an outcome of hackathon, review all ideas and advance the best ones into a structured innovation process. Allocate seed resources to test these ideas in the market—including willingness to pay. Only after real-world validation should you build business cases and incubate ideas with clear stage gates 3. Celebrate and Scale Success Recognize and celebrate wins across the organization—commercial successes, but also the creation of reusable capabilities and Intellectual Property. This inspires future innovation and encourages ongoing investment. Bottom line: Don’t treat innovation as a one-off event. Make it an ongoing, integrated process. When innovation is embedded into your company’s DNA, you’ll see bigger returns and avoid getting stuck in POC purgatory. How do you keep innovation moving in your organization? Share your thoughts below! 👇