Opportunistic Innovation
A guide for intentional innovation and a look at
how businesses are using these processes to
capi...
Who Am I?



How did I get here?
Who Are You?



Quiz time...
What is opportunistic innovation?

 Having all the pieces in place to be able to quickly
 innovate on new opportunities as...
Why Bother?

 Innovate or Die !?
 One rule - continuous change
 Leaving money on the table
Innovation Mottos
Innovation Mottos

Try almost anything & then execute fast on a positive
response
Innovation Mottos

Try almost anything & then execute fast on a positive
response
Err on the side of shoot them aim
Innovation Mottos

Try almost anything & then execute fast on a positive
response
Err on the side of shoot them aim
Always...
Innovation Mottos

Try almost anything & then execute fast on a positive
response
Err on the side of shoot them aim
Always...
3 Elements of
 Opportunistic Innovation
     1
     I
Infrastructure
                 Innovation Infrastructure

     2
  ...
Opportunistic Innovation Process
                     1                2             3
                     I             ...
Element 1                                           1
                                                    I
              ...
1

Basic needs for life
                            I
                       Infrastructure
1

Basic needs for life
                            I
                       Infrastructure




 Air
1

Basic needs for life
                            I
                       Infrastructure




 Air
 Food
1

Basic needs for life
                            I
                       Infrastructure




 Air
 Food
 Water
1

Basic needs for life
                            I
                       Infrastructure




 Air
 Food
 Water
 Shelter
Basic needs           1
                      I
                 Infrastructure



for innovation
Basic needs                   1
                              I
                         Infrastructure



for innovation
...
Basic needs                   1
                              I
                         Infrastructure



for innovation
...
Basic needs                                  1
                                             I
                            ...
Basic needs                                  1
                                             I
                            ...
1

Culture
                                          I
                                     Infrastructure




 Empower to...
Dell on Twitter


•   Sales alerts via Twitter earned Dell $1 million in a year
    and a half.
1

Culture Suggestions
                                      I
                                 Infrastructure




Maintai...
1

Definition of Failure
                            I
                       Infrastructure
1

Definition of Failure
                                       I
                                  Infrastructure




 Con...
1

Definition of Failure
                                       I
                                  Infrastructure




 Con...
1

Definition of Failure
                                       I
                                  Infrastructure




 Con...
1

Definition of Failure
                                       I
                                  Infrastructure




 Con...
Failure =                                     1
                                              I
                          ...
1

Physical Environment
                                 I
                            Infrastructure




Having the right...
1

My Office
                I
           Infrastructure
1

Know Your Assets
                                         I
                                    Infrastructure




What...
Blendtec on YouTube
•   “Will It Blend” series led to a 700% increase in sales.
1

Ability to Measure
                                                       I
                                           ...
1

Sample Metrics
                           I
                      Infrastructure




Productivity
Growth
Revenue
Conver...
Collaboration &                                        1
                                                       I
        ...
1

R&D
                                                      I
                                                 Infrastruc...
1

R&D Investments
                           I
                      Infrastructure




Lextech: 20-25%
Model Metrics: 8-...
1

Ex: Model Metrics
                                         I
                                    Infrastructure




Ser...
1

Dangers to Watch For
                               I
                          Infrastructure




Danger of perpetual ...
1

Ex: SpaceX... !NIH
                          I
                     Infrastructure
Element 1 - Recap                                   1
                                                    I
              ...
Element 2
                                                    2
                                                    O
    ...
2
                       O

The New Ideas     Opportunities




A+B+C
Customers
Community
Active research
Internal needs
2
                                       O

Mashups                           Opportunities




A+B+C=WOW
Cross industry
C...
2
                      O

Dunkin’ Donuts   Opportunities
Ex: Model Metrics


SalesForce + Google Maps
SalesForce + Amazon S3 docs
Pieces of systems & create a value added product
2
                                              O

Customer Feedback                        Opportunities




Get feedback...
2
                                              O

Community                                Opportunities




Talk to peop...
What made
Dell start using
Twitter?

•   South by Southwest conference in 2007.
2
                                       O

Active Research                   Opportunities




Regularly looking for new ...
2
                                         O

Ex: Office Express                   Opportunities




Active searching outsi...
Internal needs drive a
                                                2
                                                O...
2
                                                           O

Ex: OnTrack & Insight                                 Oppo...
2
                                                     O

Evaluating Concepts                             Opportunities


...
2
                                      O

Sample Trends                    Opportunities




The new less savvy online us...
Element 2 - Recap
                                                    2
                                                  ...
Element 3                                         3
                                                  E
                  ...
Element 3                       3
                                E
                             Execution



Ruthless Exe...
Ping.fm
•Innovation born out of an internal need
3
                                       E

How?                                Execution




Design, implement, test and ...
Anti Example                                     3
                                                 E
                    ...
3
                                                 E

Ex: Lextech Labs                              Execution




Prototyp...
3
                                                  E

Ex: Model Metrics                              Execution




Webina...
3
                                             E
Know when to move on                      Execution




Don’t get stuck j...
3
                              E
OnTrack iPhone app         Execution




View tasks & record time
Built quickly (~3 week...
Element 3                                         3
                                                  E
                  ...
Summary
                   1                2             3
                   I                O             E
          ...
Thank You & Questions
Free e-book on Opportunistic Innovation coming soon,
sign up for a copy at
http://lextech.com/innova...
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Opportunistic Innovation - Social Dev Camp Chicago 2009

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A guide for intentional innovation and a look at how businesses are using these processes to capitalize on social media

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  • Opportunistic Innovation - Social Dev Camp Chicago 2009

    1. 1. Opportunistic Innovation A guide for intentional innovation and a look at how businesses are using these processes to capitalize on social media Alex Bratton alex.bratton@lextech.com @alexbratton @LextechApps lextech.com @LextechLabs lextechlabs.com
    2. 2. Who Am I? How did I get here?
    3. 3. Who Are You? Quiz time...
    4. 4. What is opportunistic innovation? Having all the pieces in place to be able to quickly innovate on new opportunities as they are identified
    5. 5. Why Bother? Innovate or Die !? One rule - continuous change Leaving money on the table
    6. 6. Innovation Mottos
    7. 7. Innovation Mottos Try almost anything & then execute fast on a positive response
    8. 8. Innovation Mottos Try almost anything & then execute fast on a positive response Err on the side of shoot them aim
    9. 9. Innovation Mottos Try almost anything & then execute fast on a positive response Err on the side of shoot them aim Always looking ahead to what’s next
    10. 10. Innovation Mottos Try almost anything & then execute fast on a positive response Err on the side of shoot them aim Always looking ahead to what’s next Get it done asap so use existing proven commercial tech (or techniques) where possible
    11. 11. 3 Elements of Opportunistic Innovation 1 I Infrastructure Innovation Infrastructure 2 O Opportunities Identifying trends & opportunities 3 E Ruthless Execution Execution
    12. 12. Opportunistic Innovation Process 1 2 3 I O E Infrastructure Opportunities Execution Opportunities Execute Measure Infrastructure
    13. 13. Element 1 1 I Infrastructure Innovation Infrastructure Opportunities Execute Measure Infrastructure
    14. 14. 1 Basic needs for life I Infrastructure
    15. 15. 1 Basic needs for life I Infrastructure Air
    16. 16. 1 Basic needs for life I Infrastructure Air Food
    17. 17. 1 Basic needs for life I Infrastructure Air Food Water
    18. 18. 1 Basic needs for life I Infrastructure Air Food Water Shelter
    19. 19. Basic needs 1 I Infrastructure for innovation
    20. 20. Basic needs 1 I Infrastructure for innovation Ability to experiment
    21. 21. Basic needs 1 I Infrastructure for innovation Ability to experiment Means to measure
    22. 22. Basic needs 1 I Infrastructure for innovation Ability to experiment Means to measure Padded room/accept failure mentality
    23. 23. Basic needs 1 I Infrastructure for innovation Ability to experiment Means to measure Padded room/accept failure mentality Workshop with the right tools
    24. 24. 1 Culture I Infrastructure Empower to make mistakes Failure is ok if we learn from it Not just the geeks
    25. 25. Dell on Twitter • Sales alerts via Twitter earned Dell $1 million in a year and a half.
    26. 26. 1 Culture Suggestions I Infrastructure Maintain open culture Use social media All business areas: how you engage customers build products talk to the world about them
    27. 27. 1 Definition of Failure I Infrastructure
    28. 28. 1 Definition of Failure I Infrastructure Condition of not achieving the desired ends
    29. 29. 1 Definition of Failure I Infrastructure Condition of not achieving the desired ends Nonperformance of what is expected
    30. 30. 1 Definition of Failure I Infrastructure Condition of not achieving the desired ends Nonperformance of what is expected Someone or something that is unsuccessful
    31. 31. 1 Definition of Failure I Infrastructure Condition of not achieving the desired ends Nonperformance of what is expected Someone or something that is unsuccessful Halt in normal operation
    32. 32. Failure = 1 I Infrastructure Incremental Success Accept that you will have to do rework Learn from experiments Share lessons with others
    33. 33. 1 Physical Environment I Infrastructure Having the right tools ready Space to work Look at your office/ facility, is it ready for innovation?
    34. 34. 1 My Office I Infrastructure
    35. 35. 1 Know Your Assets I Infrastructure What is your org good at? Be aware of organization’s assets Systems Knowledge/IP/People Processes How to apply them in new ways
    36. 36. Blendtec on YouTube • “Will It Blend” series led to a 700% increase in sales.
    37. 37. 1 Ability to Measure I Infrastructure Essential to have tools & processes to measure Know what metrics are trackable Evaluate what fits Collect any data you can
    38. 38. 1 Sample Metrics I Infrastructure Productivity Growth Revenue Conversation ratios Leads Product upsells # new customers System usage
    39. 39. Collaboration & 1 I Infrastructure Knowledge Management Value of learning something once in the organization Collecting, storing and sharing information (including emails!) Notebook, Wikis, Evernote IM, Yammer Fogbugz, Jira, CRM
    40. 40. 1 R&D I Infrastructure R&D = Constant experimentation with measurements Invest heavily in R&D, especially in tough economic times
    41. 41. 1 R&D Investments I Infrastructure Lextech: 20-25% Model Metrics: 8-9% Office Express: 4%
    42. 42. 1 Ex: Model Metrics I Infrastructure Services firm Product as a marketing initiative The Result -- Stage Time!
    43. 43. 1 Dangers to Watch For I Infrastructure Danger of perpetual R&D Not Invented Here (NIH)
    44. 44. 1 Ex: SpaceX... !NIH I Infrastructure
    45. 45. Element 1 - Recap 1 I Infrastructure Innovation Infrastructure Opportunities Execute Measure Infrastructure
    46. 46. Element 2 2 O Opportunities Identifying Opportunities Opportunities Execute Measure Infrastructure
    47. 47. 2 O The New Ideas Opportunities A+B+C Customers Community Active research Internal needs
    48. 48. 2 O Mashups Opportunities A+B+C=WOW Cross industry Combining parts of anything Systems, companies, processes
    49. 49. 2 O Dunkin’ Donuts Opportunities
    50. 50. Ex: Model Metrics SalesForce + Google Maps SalesForce + Amazon S3 docs Pieces of systems & create a value added product
    51. 51. 2 O Customer Feedback Opportunities Get feedback and buy-in while building Vaporware is not a bad word Feedback loops Even bad news is useful Must talk to them
    52. 52. 2 O Community Opportunities Talk to people, lots of people Social networks LinkedIn -- linkedin.com/alexbratton Twitter -- @alexbratton Facebook Don’t forget the phone
    53. 53. What made Dell start using Twitter? • South by Southwest conference in 2007.
    54. 54. 2 O Active Research Opportunities Regularly looking for new ideas Reading a lot Very useful in feeding A+B+C
    55. 55. 2 O Ex: Office Express Opportunities Active searching outside industry Directed Google searching
    56. 56. Internal needs drive a 2 O Opportunities product or service offering Innovation out of necessity If your organization needs a solution, others may as well Often from recognizing a problem with a process
    57. 57. 2 O Ex: OnTrack & Insight Opportunities Needed a way to streamline the billing process for a services business Needed to cut down on labor and cycle time to invoice Full end to end integration from time tracking to invoice Saved 5-10 hours per week = $250k over 3 years
    58. 58. 2 O Evaluating Concepts Opportunities Skillsets of current team Difficulty to adapt to the new direction (team & org) Rough $ estimate of immediately addressable opty Can you dip your toe in?
    59. 59. 2 O Sample Trends Opportunities The new less savvy online user Overly advanced web sites
    60. 60. Element 2 - Recap 2 O Opportunities Identifying Opportunities Opportunities Execute Measure Infrastructure
    61. 61. Element 3 3 E Execution Ruthless Execution Opportunities Execute Measure Infrastructure
    62. 62. Element 3 3 E Execution Ruthless Execution Do it Measure the results Repeat Start as small as possible
    63. 63. Ping.fm •Innovation born out of an internal need
    64. 64. 3 E How? Execution Design, implement, test and refine Nothing should ever be stable What is going right & wrong? Rapid prototypes
    65. 65. Anti Example 3 E Execution Doomed Publisher Made the leap from paper to web Profitable and successful Looked at mobility & iPhone and said “Our existing model works, wrap the iPhone around it” Lulled to sleep by their past success and missing the mobile trend shift
    66. 66. 3 E Ex: Lextech Labs Execution Prototyped iPhone control of surveillance cameras Posted YouTube video Industry leaders contacted us
    67. 67. 3 E Ex: Model Metrics Execution Webinar on eCommerce sites with SalesForce & Amazon Tweeted a few times... 60% of their registrations from Twitter The rest of the story...
    68. 68. 3 E Know when to move on Execution Don’t get stuck just because there’s an investment in a concept Evolve it or kill it
    69. 69. 3 E OnTrack iPhone app Execution View tasks & record time Built quickly (~3 weeks) The result -- kill it
    70. 70. Element 3 3 E Execution Ruthless Execution Opportunities Execute Measure Infrastructure
    71. 71. Summary 1 2 3 I O E Infrastructure Opportunities Execution Opportunities Execute Measure Infrastructure
    72. 72. Thank You & Questions Free e-book on Opportunistic Innovation coming soon, sign up for a copy at http://lextech.com/innovation Alex Bratton alex.bratton@lextech.com @alexbratton @LextechApps lextech.com @LextechLabs lextechlabs.com

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