A story about ducks, hypes and bright ideas

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This is a story about ducks, hypes and bright ideas

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His lucky dime

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He made his fortune in Klondike

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Klondike, Dawson City, Yukon territory, northern Canada

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The inspiration for the character Scrooge mcDuck: “Skookum” Jim Mason

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One guy inspired a million people to make plans

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a 100.000 actually set out to do so

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By the time people reached Dawson City, 60.000 had died

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Of the 40.000 that reached Dawson City, only 4.000 found gold

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The rest went home broke

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Chew on this for a while …

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1.000.000 made plans

100.000 – 10% ventured out

60% of the adventurers failed at the attempt

Only 40% reached their destination

Of which only 10% struck gold

But who really made the money?

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Gold rush: Gartner’s hype cycle

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Technology adaption: psychographic profiles differ

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Hype cycle examples: Internet bubble

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eCommerce: bubbled in 2001, went through the trough and emerged on the plateau

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Virtual worlds

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Social networks: a new gold rush

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Freelance marketplaces. Before the peak

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More on the curve, according to Gartner

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Idea management

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How to recognize the signals

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So when to get on the band wagon

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If we want to be on the left side, we need to adopt a culture which supports entrepreneurs.

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We are in a recession and are very hungry for change

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As a consequence we are pulling up windmills in each direction the wind comes from

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But we tend to keep ideas to ourselves !

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Innovation is about Open and Sharing and Collaborating. We need to bring about this culture change

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What we need is a bottom’s up approach combined with a top down structure

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Because innovation is not about being lucky

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Hundreds of similar definitions can be found in the literature. Here is the one adapted from various sources:

“innovation is the process of ensuring a profitable implementation of ideas coming from the crowd”

It’s about managing innovation as a business process similar to CRM or ERP

Innovation is not about finding this one disruption that is going to change the market. It’s about the process of ideation, selecting and executing ideas.

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It can be managed as a business process

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Sales Purchasing Innovation

ERP ?CRM

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Where ideas will go through a funnel of stages and gates

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The ideas funnel

A community:To stimulate ideation and help refine ideas

A funnel: To route, rank and refine ideas that makes sure the best ideas continue into our pipeline

An organisation:To help ideas go from concept to business case and presentation

The innovation funnel

Stages and gates

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Engagement through challenges

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Activ

ity

Time

Focus on process Focus on challenges

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The path to become more innovative

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Managing challenges Building a community Managing a community

Single Challenges

Multiple challenges

Mor

e in

nova

tive

Time

Emergent innovation community Mature innovation community