Innovation is a lonely business. Innovators inside corporates face the risk of failure and misunderstanding, in their attempt to forge disruptive strategies. But with the rate of change that technology has enabled, the bigger risk is NOT to innovate. So the IAB Singapore Innovation Committee created this handy little guide to make innovation be a slightly less lonely proposition. Please feel free to share and use in your own presentations, just remember to give IAB props!
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1. THE INNOVATORS ANONYMOUS 7 STEP PROGRAM INNOVATION
COMMITTEE
2. We need to build a CULTURE and STRUCTURE that supports
innovation in our organizations
3. It is based on mastery of the Seven Steps that follow
4. STEP 1: ALWAYS BE CURIOUS Ask yourself, how can this be done
better?
5. STEP 2: TAKE ACTION Innovation is doing, not
theorizing.
6. STEP 3: EXPERIMENT AND EVOLVE Try, fail fast, iterate.
7. STEP 4: BUILD A LEARNING CULTURE Build a culture that
embraces failure as a way to learn. Celebrate victories, no matter
how small.
8. STEP 5: SIMPLIFY Focus on the Minimum Viable Product, shed
the Nice To Have's.
9. STEP 6: THE CUSTOMER DECIDES The customer decides success by
what she adopts or abandons.
10. STEP 7: DELIBERATELY DISRUPT If you don't cannibalize your
business, then someone else will.
11. BONUS SECTION!
12. Implementing an innovation program is not easy, but it can
bring outsized benefits to your organization
13. To change culture, you need to need to change structure.
Here are some tips:
14. Structure Tip #1: Allocate a specific innovation budget out
of your overall P&L
15. Structure Tip #2: Empower one or two forward-looking people
to make decisions. Keep it separate from the regular
organization.
16. Structure Tip #3: Set KPIs based on learning, not
production.
17. Structure Tip #4: Build a rapid process to evaluate
learning, decide go/ no-go, and move on to the next iteration.
Google X does this daily.
18. Structure Tip #5: Set clear criteria and process to
transition an idea from the Innovation track into a Business As
Usual activity.
19. FAILURE IS NOT FAILING. FAILURE IS FAILING TO TRY. MARK
WEBBER
20. With thanks to the members of the IAB Singapore Innovation
Committee Keith Timimi Evelina Lye Sergio Salvador Balaji Ramanujam
Simon Kearney Aaron Jackson Gloria Mathis Gerard Lechau Fletcher
Khoo Carl Griffith Miranda Dimopoulos Tobias Wilson VML Qais
[Chair] Sapient [Vice Chair] Google Potential Unlimited Click2View
Effective Measure R/GA Outbrain Adz Central Havas Worldwide
Executive Director, IAB @accomplice [Leadership Council
Liaison]