The present is a wonderful age in which new discoveries are happening all the time and the sheer quantity of new ideas being developed is mind boggling.
However, as we’ve moved into this time of innovation many companies have lost touch with the critical advantage that companies just 50 years ago possessed. These companies were limited through lack of technology and knowledge yet that not-so-long ago corporate world held a distinct advantage – they focused on the one area that would bring them success: taking action.
Today’s corporate culture focuses so strongly on innovation, on exploring the next big idea, that the last big idea is never implemented.
Action never occurs. True progress stops!
There are 2 critical steps which will keep you and your company from falling into the failed innovation cycle: Evaluation & Execution.
Process every new idea through an evaluation system that best meets your needs. Consider benefits and costs, return on investment, consider risks, the value created, and how the idea fits with your long range vision and strategy. Select only the very best ideas and send the rest to the scrap heap.
Let go of the good to embrace the great. Good is the enemy of great.
Once you’ve selected the idea that has the best potential, test the idea on your marketplace — make sure it is something your customers want before you go through the business (and busy work) of making it. Utilize resources like Kickstarter and other testing systems unique to your marketplace for get realistic and actionable customer feedback.
Nail it before you scale it.
If your concept has legs, break the idea down into small milestones. Decide on the next most important step you can take that will move you toward your goal of implementing the idea. Take steps that will solve your biggest problems and focus your efforts on execution through completion.
Grab hold of a great idea and see it through to completion, without allowing the next bright and shiny object to distract you, and you will see your productivity and success skyrocket.