Profitable innovation or why big companies burn big dollars on technological ideating
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"Profitable Innovation" or "Why big companies burn big dollars on 'technological ideating', and other such valueless terms/behaviors" A 30min blitz on how big-money-making-and-big-product-shipping F1000s can avoid screwing up the innovation end-game. Starts by defining what the heck "innovation" is (or what it should be...) Highlights: - 3 measures for "innovation” - 5 reasons (bad habits) why your favorite logos burn cash on "disruption" (involves Pied Piper, Don Draper, & Nest thermostats) - 5 tips for how innovation leaders can make measurable and valuable progress, and still get home in time to see their kids every day.
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Profitable innovation or why big companies burn big dollars on technological ideating
- 3. WHY BIG COMPANIES BURN BIG DOLLARS ON “TECHNOLOGICAL IDEATING” & OTHER SUCH VALUELESS TERMS / BEHAVIORS
- 5. HOW TO COMMUNICATE BETTER WITH YOUR CLIENTS &/OR PARTNERS
- 6. AGENDA i.e. the last hurdle to happy hour Who Define “Innovation” BT Innovation SOTU 5 Mistakes 5 Best Practices Q+A
- 8. Pat Morrell Sales Director, Skookum @pat_morrell
- 13. 13
- 14. 14
- 15. AGENDA i.e. the last hurdle to happy hour Who Define “Innovation” BT Innovation SOTU 5 Mistakes 5 Best Practices Q+A
- 22. AGENDA i.e. the last hurdle to happy hour Who Define “Innovation” BT Innovation SOTU 5 Mistakes 5 Best Practices Q+A
- 23. BUSINESS TECHNOLOGY & INNOVATION SOTU
- 24. Chief Product Officer Chief Digital Officer Manager of Global Media & Digital Marketing Director, Customer Relationship & Mobile Marketing CTO COO GM IT Innovation Director of Digital Innovation SVP Sales CMO VP Strategy CIO VP IT Enterprise Architect CEO Board of Directors Intern
- 26. they think they’re bad at innovation
- 27. % F1000 leaders who say their innovation strategy is competitively failing. (Accenture)
- 28. (McKinsey) % global executives who are “unsatisfied with their innovation performance.”
- 29. % F1000 leaders who say they are bad at capturing new ideas. (Accenture,)
- 30. they think they’re bad at innovation they want to improve, & claim to prioritize innovation
- 31. % F1000 leaders who see long-term success dependent on innovation. (Accenture)
- 32. % of Elite 100 co’s that say introducing a new IT-led product or service is among their top 3 innovation priorities.
- 33. (McKinsey) % global executives who believe innovation is “extremely important to their growth strategies”
- 34. they think they’re bad at innovation they want to improve, & claim to prioritize innovation they put it all on I.T…. unfairly
- 35. % F1000 IT budgets spent on old system maintenance. (Gartner/InformationAge)
- 36. % IT leaders who say that “focus on daily IT ops” prevents them from innovating. (InformationWeek)
- 37. % F1000 IT budgets spent on new technologies. (Gartner/InformationAge)
- 38. Twisted reality : • everybody feels they’re bad at innovation • yet they want to do a LOT more of it • the knee-jerk reaction is “just let IT figure it out” • but IT is already too slammed to innovate So now we have this ego-rich pool of confused accountability and desire (ex: the almost daily publication of CIO v. CMO v. CDO nonsense…) This leaves people at an inflection point where mistakes get made… here are the biggest mistakes.
- 39. AGENDA i.e. the last hurdle to happy hour Who Define “Innovation” BT Innovation SOTU 5 Mistakes 5 Best Practices Q+A
- 41. MISTAKE #1
- 42. Believing that this… Equals this…
- 43. “Then it just becomes an industry of cool”
- 44. Will not save your business…
- 46. MISTAKE #2
- 47. Only calling these guys…
- 50. MISTAKE #3
- 51. BuzzwordsVC & pop-tech news Getting distracted by… Gadget lust
- 53. MISTAKE #4
- 56. MISTAKE #5
- 61. AGENDA i.e. the last hurdle to happy hour Who Define “Innovation” BT Innovation SOTU 5 Mistakes 5 Best Practices Q+A
- 62. BEST PRACTICE #1
- 63. FIX FIRST
- 66. BEST PRACTICE #2
- 67. HUMANS FIRST
- 72. “Projects don’t fail because of technology limitations… projects fail because of people limitations” (paraphrasing) - Rob Harr, the guy who spoke ahead of me about 45mins ago
- 73. BEST PRACTICE #3
- 79. BEST PRACTICE #4
- 80. OUTSOURCE
- 82. “No problem can be solved from the same level of consciousness that created it”
- 83. “No problem can be solved from the same level of consciousness that created it”
- 85. BEST PRACTICE #5
- 94. AGENDA i.e. the last hurdle to happy hour Who Define “Innovation” BT Innovation SOTU 5 Mistakes 5 Best Practices Q+A
- 95. 5 mistakes 5 best practices 1. “Silicon Valley Savior Delusion” 2. “Big I.T.-Strategy Aristocracy Homage” 3. “Pop-Tech New-New Value-Prop Confusion” 4. “Robert the Bruce Consensus-Builder Mis-hire” 5. “Don Draper,3AM, Pizza-Whiteboard, Volume-Ideating C.Y.A. Delusion” 1. Fix First, Futurize Second 2. Humans First, Tech Second 3. Make APIs First Class Citizens 4. Outsource, Humbly 5. Stop Scapegoating I.T.
Editor's Notes
- This is your chance to subtly get up and leave if you find yourself in the wrong place…
- Who am I talking to. Show of hands — Developers? Designers? Product? Marketing / sales? C-level? Startup? Big tech companies?
- This is me.
- Sales director at Skookum… my job to pair great-fit clients with our team to solve problems with custom technology. I’m also a former enterprise coldcaller. reformed political campaigner, unglamorours and unexited startup guy, and a nonprogrammer. And for the past 3 years, my job has been to talk to enterprise heads of innovation and help them solve problems.
- You’re hear to learn about Profitable innovation, and much of what I know is born from what the team at Skookum has learned as we're taken Skookum to market. We’re a custom business technology and software innovation partner. WE solve complex, cross-functional, often pan-technological business problems. 10 years old. 70 people. Charlotte and Denver.
- Taught a car to talk to smart phone.
- Built finance software for Apple.
- Built field sales app for Coca Cola Bottling.
- Built video streaming apps for Sesame Street. LSS, we’re pretty smart. But you didn’t come for a Skookum sales pitch, you came to learn about custom innovation.
- So first things first, what is “innovation”
- the process of creating assets that grow
- earnings
- efficiency
- AND quality of life why talk about this: so we, today, have a common north star…. something that is measurable, not subjective. buzzwords are dangerous
- buzzwords = dangerous… help people contextualize the vehicles for what they want to do… they want to speed up data transfer and content creation they want to get off paper they want to secure systems… so it’s a vocabulary people understand, can share ideas, etc… sometimes helpful for me and our sales team to plant a seed for an idea...Danger = “MVP” means so many different things to so many different people… “literally” now means figuratively… etlc.. disconnect between you and your service provider… between execs and teams... expecgations, measurable, etc...
- this is the state of the union for enterprise innovation…. first, here are the players..
- confusing landscape. innovation “ownership” varies… this is part of the problem, and part of the opporutunity
- whatever the title, this de factor head of innovation (and the company he/she works for) has a three-pronged problem
- Silicon Valley will not save your business.
- If you’re the CIO of a $150M manufacturing company, something like the Pied Piper compression has absolutely, 100% ZERO bearing on your business. Stop rolling the company dice on the Silicon Valley casino, waiting for one of those series A “breakthroughs” to be a silver bullet. Get serious.
- These guys do awesome work… have some awesome stuff… mistakes happen when you ONLY call these guys because it means 1 of two things: ONLY interpret problems through the lens of their products disconnect between strategy and execution… and when what you really want is a solution to a problem, you need continuity
- You’re a business leader. You can’t get distracted by irrelevant “innovation.”
- If you’re a CEO, your “innovator” needs to be willing to sack York, not work with the nobles. If you don’t get this reference, go watch Braveheart and you’ll understand.
- The biggest innovation mistake is believing this math…
- Creatives + pizza + 3AM ideating + whiteboards = equals…
- success
- Anybody can gather ideas. The first challenge is filtering out the business-irrelevant ones (a good sniff-test is “does this idea impact earnings, efficiency, AND quality-of-life?”). The BIGGEST challenge is then executing on that idea. This is why Skookum exists.
- operational v. aspirational innovation... solve for Bob, make paper the enemy…. before you do the super-ambitious “get-a-shout-out-on-the-earnings-call-and-speak-at-the-next-big-conference” cool guy thing, get your house in order… Quality-of-life improvements made possible by technology hold immeasurable value. Terry in accounting can stop exporting data from System A into a spreadsheet for System B If Bob in sales can save 2 hours a week in not having to re-enter paper contracts Value: you’re saving people time and making them happy in the short term; in some cases, you’re liberating your problem-solvers to now find other ways to innovate. It’s a long-term game. A lot of clients have concerns re aging workforce… have to have systems that are awesome to use… “consumerization of IT”... people go home and use smartphone / tablet… they demand a certain type of interface experience… business justification = closing that gap If you can’t compete in that space… you are missing
- most often clients think technology & barriers, then process and humans version
- most often clients think technology & barriers, then process and humans version
- need to wait for version 45.67 slow role
- Throw every constraint out the window. Figure out what workflows and experiences will help people do their jobs better. Dream the dream scenario. THEN, find the technology that can enable that solution. If you find a COTS solution, awesome. If you need to build something from scratch, do THAT. The cost of technology isn’t just the price tag for creating it. It’s the opportunity cost if people DON’T adopt it, AND/OR the every BIGGER opportunity cost if the “yeah-it-gets-us-50%-of-the-way-there” system lingers in your company for 2-3-4-5 years and slows you down and pisses of your people that entire time.
- It’s more than just being an open-source API loon.
- It’s about showing respect for what came before you.
- Gotta bridge the old school with the new school. Data security is important. I’d argue that data continuity is even more important.
- If you can’t introduce an effective new concept to a company and have it play nice with the existing legacy systems… you’re not a “disruptive”-Steve-Jobs type… you’re a “disruptive”-bull-in-a-china-shop type. You’re dangerous.
- You’re a COO at a retail company. You know all about supply chains, textiles, POS effiencies, international tax liabilities… you’re an industry pro.
- But chances are high that you don’t know a damn thing about the latest and greatest mobile app development best practices. And chances are even higher that you are WAY too close to your own problems to have a fresh take on how to solve them. As an enterprise innovator, you need to bring some humility to the table. You need outside help. And so should your outsourced partner (they likely don't know nearly as much as you do about retail). They need inside help. You both want to get to the same place. Tech-driven business solutions that impact (What?) EARNINGS, EFFICIENCY, and QUALITY OF LIFE. The them is “dual humility.” makes for the best partnerships.
- Did Einstein really say this… or did some consultant sales guy make it up and slap Einsteins quote bubble around it?
- LSS, you could spent 12-18 building an A-Team. #opportunitycost Or you could go hire one tomorrow.
- https://enterprisersproject.com/article/2014/10/cios-role-cio-cmo-divide?sc_cid=70160000000woYcAAI By 2020, we anticipate a few things: BT… call it digital strategy… whatever… Some of this you’re starting to see already… the over-reported on friction between Marketing and IT… this evolution of the Chief Digiatl Officer… the market will sort itself out… here’s how I see it could evolve.
- look at everything we’ve thrown onto IT.. MDM, security, app dev, anything that touches a screen rolls up into IT… it’s a unfair burden thrust onto one functional… you could argue that IT should be 2-3 functions: 1) records management / security; 2) business technology; and 3) mobile (maybe even 4: Internet of things)… there are fundamentally different skillets running around IT departments, and it’s only natural that IT becomes to fragment and specialize.
- LSS, there’s a fundamental difference between build v. maintain… different skillsets… and there should be a healthy tension there… the builders will likely come up with ideas that could compromise what’s being maintained… progress often comes from alteration/destruction… and maintainers, rightfully, will need to rein in the builders in the interests of sustaining the integrity of the systems. T could be split: a function that exists in pods distributed across the business functions… Innovation SWAT teams focused on problem-solving, dedicated to certain business outcomes… dev, product, project, UI/UX, etc.... But this is hard to build. a function that maintains and fixes….
- Think of what happens when great talents are forced (or force themselves) into arenas wherein they are ill-equipped to perform. MJ, the greatest basketball player in history… sucks at baseball
- Eddie Murphy. Hands down the funniest standup of all time… not a good singer. I love you Eddie.