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10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
10 common mistakes – open innovation
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10 common mistakes – open innovation

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Here are 10 common mistakes and how you can work around them for the best open innovation that is possible for your company.

Here are 10 common mistakes and how you can work around them for the best open innovation that is possible for your company.

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  • 1. 10 COMMON MISTAKES –OPEN INNOVATIONFor additional information about Innovationplease visit www.InnovationGrow.com
  • 2. www.InnovationGrow.comAs a relatively new form of innovation that involves so many peoplethere are bound to be some mistakes when using open innovation. Thekey is not to give up on the whole concept because of these mistakes,but instead learn to find a variation that works for your company’sneeds.Make sure that you find the resources to tweak your open innovationsystem so that you can take full advantage of the speed and cost savingsthat are afforded when you get it right.Here are 10 common mistakes and how you can work around them forthe best open innovation that is possible for your company.2
  • 3. www.InnovationGrow.com1. OPENING THE INNOVATION TO A NETWORKWITHOUT A CLEAR STRATEGYIt is tempting to dive in head first and just give open innovation a try,but you have to make sure that you have a strategy to harness thepower.If you don’t have a clear strategy and objective than you are likely to notget as much as you could out of the open innovation and waste yourresources at the same time.3
  • 4. www.InnovationGrow.com2. POORLY DEFINING THE NEED ORREQUIREMENTJust as you need a solid strategy, you need to make sure that theobjective is clearly defined.This will allow people to understand and input their creativity in thesame direction instead of misinterpreting the task and wasting time andmoney.Narrowing the objective will also allow people to get more creative andfind more solutions to that exact issue and incorporate othercomplementary ideas.4
  • 5. www.InnovationGrow.com3. NOT GETTING THE WHOLE COMPANY ONBOARDWhen you are trying to create a great cohesive network for openinnovation you have to make sure that everyone in the company isworking towards this goal.By encouraging the whole company to contribute and engage in someway you are leveraging your internal resources so that they can bemultiplied externally.5
  • 6. www.InnovationGrow.com4. NOT DEFINING THE PROCEDURE AND TAKEON HANDLING INTELLECTUAL PROPERTY (IP)The legal teams on all sides of open innovation can halt the processbefore it even begins.Planning out the procedure will not only satisfy the legal team but it willalso ensure that everyone can work together with fear of sharing toomuch information.6
  • 7. www.InnovationGrow.com5. JUMPING TO CONCLUSIONS WITHOUT ASOLID IDEA TESTING PROCEDUREIdeas and innovation will come from all angles and it is important totest each of them with a process that works quickly.Instead of vetting the ideas from a gut reaction use numbers andmetrics to determine what an innovative idea is potentially worth.By shutting the door on ideas before they can be tested you won’tmaximize the ideas that you create.7
  • 8. www.InnovationGrow.com6. NOT USING ALL POSSIBLE NETWORK TYPESThere are several different avenues that you can build an openinnovation network with and most companies tend to focus on just one;or a fraction of one.By trying new networks and approaches you will be able to find amethod that works for your company.Make sure that you review these methods frequently so that you arenot missing out on a better opportunity.8
  • 9. www.InnovationGrow.com7. NOT FACTORING IN THE CULTURE OF THEPARTNERS THAT YOU BRING INTO THE FOLDThere may be advantages of resources or talent that gets you excited towork with a potential partner but you can’t overlook the culture andworking relationship that they bring to the table.Ensuring that you can work synergistically will save you headaches andresources by considering culture from the beginning.9
  • 10. www.InnovationGrow.com8. NOT GIVING YOUR PARTNERS OR NETWORKENOUGH RESPECTCommunication is very important in any relationship and openinnovation is no different.Making sure that you respect your partners with open communicationand feedback will encourage an open working relationship.As long as you chose a good network that you can work with (culture)than increasing the communication will help to smooth out any littlehitches.10
  • 11. www.InnovationGrow.com9. LOOKING AT THE SMALL PICTUREOpen innovation requires that you collect as many ideas from as manyplaces as you can and this means keeping an open process.Bringing together everyone that could benefit from the solution, even ifjust for a one time project, will amply your results and bring in the mostideas.11
  • 12. www.InnovationGrow.com10. FAILURE TO BUILD AND CULTIVATE TRUSTIn order to work in a collaborative and open way you need to be able totrust all of the parties involved, and they need to trust you.Making sure that you operate from a win-win mindset and try to buildtrust on all levels of the network will guarantee that people will want towork with you on your innovations.12
  • 13. GROWING BUSINESS WITH INNOVATIONFor additional information about Business Innovationplease visit www.InnovationGrow.com

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