This document discusses four key parts of innovation: 1) Choosing methods like crowdsourcing or internal innovation time to generate new ideas. 2) Evaluating ideas using matrices to assess their potential and edit out weak concepts. 3) Minimizing risk of promising but uncertain ideas through staged testing and small pilots. 4) Creating sustainable innovation by measuring idea generation and ensuring a constant pipeline of concepts to explore and bring to market over time. Regular measurement helps drive continuous innovation.

1. Innovation
as a
numbers
game

2. Because the purpose of business is to
create a customer, the business
enterprise has two--and only two--basic
functions: marketing and innovation.
Marketing and innovation produce
results; all the rest are costs.
Peter Drucker

3. Innovation is
intentional

4. In business and
economics,
innovation is the
catalyst to
growth.
- Wikipedia

5. Innovation Is Important for
Sustained Growth
Re-Invent
& Explore
Business
Optimization
Market
Development
Concept
Development
Growth
Concept
Creation
Harvest &
Exploit
Time

6. Ideas Innovation
Innovation is the process of translating an idea or invention
into a good or service that creates value or for which
customers will pay.
Businessdictionary.com

7. Ideas are the
heart of
innovation

8. Without ideas innovation, and
eventually business, dies

9. Problem:
Many companies don’t
produce enough good ideas


10. Solution:
The way to get
good ideas is to
get lots of ideas,
and throw the bad
ones away.
Linus Pauling

11. Good Ideas:

12. Confront the
Brutal Facts:
Create a culture
wherein the
truth can be
heard

13. Instead of forcing employees
to speak anonymously, why
not encourage them to speak
openly?
Marty Neumeier

14. Our best
ideas come
from clerks
and stockboys.
- Sam Walton, Founder of Walmart

15. 4 Parts Of Innovation

16. Choose a method to
source ideas
Part 1

17. Two methods for idea
generation

18. 1. External Sources:
Quirky’s Idea Generation Methodology
1 Create a community with an obstacle for entry ie. Entry fee or form
2 Any member (aka inventor) can submit ideas for public review
3 All other members can vote on ideas and offer suggestions to
improve the original idea
4 Most popular ideas move to design phase
5 Both the inventor and the organization submit design prototypes
6 Most popular design wins based on community voting
7 More voting for taglines, positioning, branding
8 Reward all who contributed to the winning idea
9 Set up countdown clock for product launch
10 Make product

19. 2. Internal Sources:
Diarize Internal Innovation Time
Allocate a portion of your employee’s time to dabbling, experimenting,
creating and developing ideas for the organization. Here are some
examples.
• Google - 20% time
• 3M – 15% time
• Apple – Blue Sky Project
• LinkedIn - InCubator
• Gore-Tex – Dabble Time
• Atlassian – Ship It Day
• Facebook – Hackathon
• Lockheed Martin – Skunkworks
• Mattel – Platapus project

20. Do you know of any other
ways to source ideas?
Please add comments below

21. Q. How do you edit for
good ideas?
Part 2

22. Two Methods for Evaluating
and Editing Ideas

23. Method 1:
Good/Different Matrix
Good and
Good and Different
Not Different
(money maker)
(me too project)
Not Good and Not Good and
Not Different Different
(avoid all together) (unlikely to succeed)

24. Method 2:
Product/Market Matrix
Old product New product and
And new market new market
(adapt - evolutionary) (create - revolutionary)
Old Product and New product and
Old market Old market
(manage - incremental) (extend - evolutionary)

25. Can you suggest other
ways to edit ideas?
Please add comments below

26. Good ideas are
different. Naturally,
they have a quality
of uncertainty
about them which
can make them
scary. These are
the ideas to pay
attention to.

27. Q. How do you minimize risk
with good but scary new
ideas?
Part 3

28. Stage tests.

29. Stage-Gate Innovation
Seed Money Small Bet Medium Bet Large Bet
Develop Develop Prototype & Launch best
concept strategy test idea projects to
How many projects
are in your idea
Do the projects align Ask your target market
with your brand? market
pipeline? The market dictates
How long is the time your success
How many active to market?
internal contributors
do you have? Can you hear the
appetite in the
marketplace?
= an idea

30. Q. How do you create
sustainable innovation?
Part 4

31. Be like Starbucks and count
your ideas.

33. What gets
measured
gets done.
Peter Drucker

34. How else could you
measure innovation?

35. Marc Binkley
Brand Consultant & Marketing Analyst
@marcbinkley or on LinkedIn