by Robyn Bolton | Jan 2, 2024 | Innovation
“You sound stupid when you use the word ‘_____________’ because you’re trying to sound smart.”
Mark Cuban
What goes in the blank?
For Mark Cuban, it’s “cohort” because “there’s no reason to ever use the word ‘cohort’ when you could use the word ‘group.’ A cohort is a group of people. Say ‘group.’ Always use the simpler word.”
For one of my former bosses, it was “breakthrough.” He would throw you out of the room if you used that word. Not physically throw you out, but he was a big guy and could if you didn’t exit on your own.
For me, it’s “disrupt” (and all its forms) because applies (as originally intended by Clayton Christensen) in only about 0.1% of the instances in which it’s used.
There are other candidates.
Lots of other candidates.
In fact, I would go so far as to propose the biggest buzzword of them all: INNOVATION.
“Innovation” does not make you sound smart.
Here is a very short list of the most commonly heard statements about innovation.
- Innovation is a priority.
- Innovation is key to our growth.
- We need to be more innovative.
- We want to build/are committed to building a culture of innovation
- Let’s innovate!
What do these statements even mean?
- It’s great that innovation is a priority and key to our growth. Hasn’t that always been the case? What is changing? How is that translating into action? What do you expect from me?
- Agree we should be more innovative. How? What does “more innovative” look like?
- Definitely want to be part of a culture of innovation. What does that mean? How is that different than our current culture? What changes? How do we make sure the changes stick?
- Sigh. Eye roll.
Saying what you mean makes you sound smart.
Always use the simpler word, and, in the case of innovation, there is always a simpler word or phrase. Consider:
- Grow revenue from our existing businesses
- Create new revenue streams
- Grow profit in our existing businesses
- Grow profit by launching new high-profit businesses
- Stay ahead of the competition
- Create a new category
- Launch a new product
- Better serve our current customers
- Serve new customers
- Update/extend our current products
- Increase the effectiveness of our marketing spend
- Revise our business model to reflect changing consumer and customer expectations
- Launch a low-cost and good-enough offering that appeals to non-consumers
You sound smart when you use the word(s) that most clearly, concisely, and unambiguously communicate your idea or intention. “Innovation” does not do that.
Saying “innovation” AND what you mean makes you sound wicked smaht
“Innovation” on its own is lazy. Simpler words and phrases aren’t nearly as sexy (I can’t imagine Fast Company coming out with “The World’s Best Companies at Creating New Revenue Streams” list).
But when you put them together – smart and sexy:
- Innovation is a priority. As a result, we are committing a minimum of $50M a year for the next five years to…
- Innovation is key to growth. As a result, we are doubling our investment in…
- We need to be more innovative. To achieve this, we are changing how we measure and incentivize executive performance to encourage long-term investments.
- We want to build a culture of innovation. As a first step in this process, we are making Kickbox available to any interested employee.
Let’s Innovate (Nope, don’t say this. It’s too cheesy)
Say what you mean.
If you don’t, people will think you don’t mean what you say.
What other words would you add to this rant?
by Robyn Bolton | Dec 11, 2023 | Press Mentions
by Robyn Bolton | Nov 17, 2022 | Innovation, Just for Fun
You know ALL the innovation tools and frameworks:
- Design Thinking
- Lean Startup
- Disruptive Innovation
But knowing and doing are two different things. When I first learned Jobs to be Done, it felt painfully obvious, exactly like the customer research I did for five years at P&G. Then I had to do it (conduct a Jobs to be Done interview), and it was difficult (ok, it was a disaster).
And teaching others to do it is a third entirely different thing. Because by the time you have the skills and expertise to teach others, you’ve forgotten what it was like to start from the beginning.
It’s easy to forget that before you can read a sentence, you must know how to read a word. Before you can read a word, you must recognize a letter.
So let’s go back to basics. Back before the methodologies. Before the frameworks. Before the theories. Let’s go back to the letters and words that are Innovation’s essence.
Let’s go back to the Innovation Alphabet.
Assumptions, every innovation has them, and every innovator tests them to reduce risk
Brainstorming, a great way to get lots of ideas and maybe even some new ones
Customers, the people we innovate for
Disruptive Innovation, cheaper, lower quality products that appeal to non-consumers
Experiments, how you test assumptions and reduce risk
Fun, what innovation should be
G
Hope, it springs eternal in the heart of every innovator
Ideas, where most innovations start
Jobs to be Done, the problems people have/the progress they want to make (and the hill I will die on)
K
Leadership, the most crucial element in innovation (and often the biggest barrier)
Mistakes, how we learn, grow, and make progress
No, the start of a conversation, not the end
Opportunities, a nice term for “problem”
Problems, where all innovations should start
Quiet, what we sometimes need to think big and create something new
R
S
Team, how innovation gets done
Uncomfortable, what innovation should make you (especially if you’re a senior executive)
V
W
X
whY, the one question you can never ask enough
Zzzz, what you finally get to do when you’ve changed the world
As you can see, some letters still need words. What should they be?
Are there better words for some letters?
Let me know in the comments!
by Robyn Bolton | Nov 9, 2022 | Innovation, Leadership, Tips, Tricks, & Tools
“What had a bigger impact on the project? The process you introduced or the people on the team?”
As much as I wanted to give all the credit to my brilliant process, I had to tell the truth.
“People. It’s always people.”
The right people doing the right work in the right way at the right time can do incredible, even impossible, things. But replace any “right” in the previous sentence, and even the smallest things can feel impossible. A process can increase the odds of doing the right work in the right way, but it’s no guarantee. It’s powerless in the hands of the wrong people.
But how do you assemble the right group of people? Start with the 3 Ts.
Type of Innovation
We’re all guilty of using “innovation” to describe anything that is even a little bit new and different. And we’ve probably all been punished for it.
Finding the right people for innovation start with defining what type of innovation they’ll work on
- Incremental: updating/modifying existing offerings that serve existing customers
- Adjacent: creating new offerings for existing customers OR re-positioning existing offerings to serve new customers
- Radical: new offerings or business models for new customers
Different innovation types require teams to grapple with different levels of ambiguity and uncertainty. Teams working on incremental innovations face low levels of ambiguity because they are modifying something that already exists, and they have relative certainty around cause and effect. However, teams working on radical innovations spend months grappling with ambiguity, certain only that they don’t know what they don’t know.
Time to launch
Regardless of the type of innovation, each innovation goes through roughly the same four steps:
- Discover a problem to be solved
- Design solutions
- Develop and test prototypes
- Launch and measure
The time allotted to work through all four steps determines the pace of the team’s work and, more importantly, how stakeholders make decisions. For example, the more time you have between the project start and the expected launch, the more time you have to explore, play, create, experiment, and gather robust data to inform decisions. But if you’re expected to go from project start to project launch in a year or less, you need to work quickly and make decisions based on available (rather than ideal) data.
Tasks to accomplish
Within each step of the innovation process are different tasks, and different people have different abilities and comfort levels with each. This is why there is growing evidence that experience in the phase of work is more important than industry or functional expertise for startups.
There are similar data for corporate innovators. In a study of over 100,000 people, researchers identified the type and prevalence of four types of innovators every organization needs:
- Generators (17% of the sample): Find new problems and ideate based on their own experience.
- Conceptualizers (19%): Define the problem and understand it through abstract analysis, most comfortable in early phases of innovation (e.g., Discover and Design)
- Implementers (41%): Put solutions to work through experiments and adjustments, most comfortable in later stages of innovation (Develop and Launch)
- Optimizers (23%): Systematically examine all alternatives to implement the best possible solution
Generators and Conceptualizers are most comfortable in the early stages of innovation (i.e., Discover and Design). Implementers and Optimizers are most comfortable in the later stages (e.g., Develop and Launch). The challenge for companies is that only 36% of employees fall into one of those two categories, and most tend to be senior managers and executives.
Taking Action
Putting high performers on innovation teams is tempting, and top talent often perceives such assignments as essential to promotion. But no one enjoys or benefits when the work they’re doing isn’t the work they’re good at. Instead, take time to work through the 3Ts, and you’ll assemble a truly terrific innovation team.
by Robyn Bolton | Nov 2, 2022 | Innovation, Leadership
If you heard it once, you heard it a thousand times:
- Big companies can’t innovate
- We need to innovate before we get too big and slow
- Startups are innovative. Big companies are dinosaurs. They can’t innovate.
And yet you persevere because you know the truth:
Big companies CAN innovate.
They CHOOSE not to.
Using Innovation to drive growth is a choice.
Just like choosing to grow through acquisition or expansion into new markets is a choice.
All those choices are complex, uncertain, and risky. In fact:
Hold on. The odds of failure are the same!
All three growth drivers have similar failure rates, but no one says, “Big companies can’t acquire things” or “Big companies can’t expand into new markets.”
We expect big companies to engage in acquisitions and market expansion.
Failed acquisitions and market expansions prove us (or at least our expectations) wrong. Because we don’t like being wrong, we study our failures so that we can change, improve, and increase our odds of success next time.
We expect big companies to fail at innovation.
In this case, failure proves us right. We love being right, so we shrug and say, “Big companies can’t innovate.”
We let big companies off the hook.
Why are our expectations so different?
Since the dawn of commerce, businesses engaged in innovation, acquisitions, and market expansion. But innovation is different from M&A and market expansion in three fundamental ways:
- Innovation is “new” – Even though businesses have engaged in innovation, acquisitions, and market expansion since the very earliest days of commerce, innovation only recently became a topic worthy of discussion, study, and investment. In fact, it wasn’t until the 1960s that Innovation was recognized as worthy of research and deliberate investment.
- Innovation starts small – Unlike acquisitions and new markets that can be easily sized and forecasted, in the early days of an innovation, it’s hard to know how big it could be.
- Innovation takes time – Innovation doesn’t come with a predictable launch date. Even its possible launch date is usually 3 to 5 years away, unlike acquisition closing dates that are often within a year.
What can we do about this?
We can’t change what innovation is (new, small, and slow at the start), but we can change our expectations.
Finish the sentence – “Big companies can’t innovate” absolves companies of the responsibility to make a good-faith effort to try to innovate by making their struggles an unavoidable consequence of their size. But it’s not inevitable, and continuing the sentence proves it. Saying “Big companies can’t innovate because…” forces people to acknowledge the root causes of companies’ innovation struggles. In many ways, this was the great A-HA! of The Innovator’s Dilemma: Big companies can’t innovate because their focus on providing better (and more expensive) solutions to their best customers results in them ceding the low-end of the market and non-consumers to other companies.
Be honest – Once you’ve identified the root cause, you can choose to do something different (and get different results) or do everything the same (and get the same results). If you choose to keep doing the same things in the same ways, that’s fine. Own the decision.
Change your choice. Change your expectations – If you do choose to do things differently, address the root causes, and resolve the barriers, then walk the talk. Stop expecting innovation to fail and start expecting it to be as successful as your acquisition and market expansion efforts. Stop investing two people and $10 in innovation and start investing the same quantity and quality of resources as you invest and other growth efforts.
The first step in change is admitting that change is needed. When we accept that “big companies can’t innovate” simply because they’re big, we absolve them of their responsibility to follow through on proclamations and strategies about the importance of innovation as a strategic driver of growth.
It’s time to acknowledge that innovation (or lack thereof) is a choice and expect companies to own that choice and act and invest accordingly.
After all, would it be great to stop persevering and start innovating?
