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Innovation for business

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  • 1. Philip Wheat Singularity Innovations @Pwheat Phil@SingularityInnovations.com
  • 2. Every CxO has “Innovation” on their minds Companies are acquiring startups at a rapid pace to acquire innovations and innovative teams. Few companies are happy with the level of innovation in their organization
  • 3. Innovation is inefficient Innovation is disruptive Innovation is distracting Sometimes they don’t recognize it when they see it.
  • 4. Almost by definition, an innovation starts out rough and then gets improved. If it doesn’t – you’re spending too much time working on it
  • 5.  Big surprise – that’s why we say we want it  Unless the disruption is our core business  Unless we’re not set up to take advantage of it  Unless we find that someone else is more agile  Know that it’s disruptive and have a plan for how to handle that.  Integrate Innovations into strategic plans  Be prepared for surprises  If your organization is too large to be agile, allow small groups to act as scouts and pilots
  • 6. Who wants to work on the old stuff? All the smartest people get pulled out of keeping business operating Pivots make long range planning distracting and difficult Looking out for others innovating keeps your eye off your internal ideas
  • 7.  That’s almost never the case  Key people became that way because they bought into the current thinking  Innovation is almost always slower and more costly to begin with  Recognizing new ideas worth investing in is a skill all to itself.  Past performance does not guarantee future results  A lot of innovation is luck
  • 8.  Create cross discipline teams – not just your wunderkinds  Create a budget – and let it run it’s course  Give authority to the teams  Allow great exposure, but avoid micromanagement at all costs  Set regular delivery milestones, even if they’re just communication to the rest of the company
  • 9. We’ll go through a project that started with automotive window motors and ended with representing $6.5B of research. Oct 22nd 6-8pm. Find out more at http://www.iasaglobal.org/ Austin chapter
  • 10. Philip Wheat Singularity Innovations @Pwheat Phil@SingularityInnovations.com