Summary: Resuming our Best of Killer Innovation series, we look at key ingredients to build innovation success for organizations.<br> <br> The Innovation Success Formula<br> Innovation is about translating ideas into products, services, and solutions. Ideas without execution are a hobby. Is your organization in the business of Innovation? This episode boils it down to a simple equation. Ideas + Innovation Culture = Innovation Success. The process starts with ideas and the management of them. But ideas won't develop and thrive without the right culture. Core Attributes are about setting the basis for Innovation Culture. When you set up a good system of gathering ideas and lay a foundation for an innovation culture, innovation success ensues.<br> Creating Order from the Brainstorm of Ideas<br> The process starts with ideas coming from many sources. Then comes the question of how to <a href="https://killerinnovations.com/five-ways-to-generate-new-ideas/">manage your ideas</a>. How do you log, track and rank them? Where are your ideas today in the innovation lifecycle? What about all the <a href="https://killerinnovations.com/how-to-run-a-next-generation-brainstorming-session-s11-ep47/">brainstorming </a>sessions over the last few years… could you quickly put your hand on the list of those ideas? Ideas have value over time.<br> The Idea Management System, Step By Step<br> If you believe ideas are the economy's currency, you need to manage ideas as a valued asset for innovation success. Treat ideas as valuable asset.<br> What's needed in an idea management system?<br> Idea capture and tracking<br> <br> * It is an easy way to put ideas in the system, track them over time, evaluate them, and link them to other ideas that could grow into something significant.<br> * Done by people on the innovation team but also open to other people in the organization who can submit an idea easily – have one place to look for all assets<br> <br> Idea evaluation – some form of an idea evaluation tool that allows management to assess and look at ideas more closely<br> <br> * Does everyone in the organization look at it and vote<br> * Use a ranking process like <a href="https://beyondtheobvious.com/innovation-gap-innovation-delay/">F-Focus, I-Ideation, R-Ranking, E-Execution</a><br> * Crowdsource feedback<br> <br> The system must allow for Ad Hoc <a href="https://killerinnovations.com/innovation-through-collaboration/">Team Collaboration</a><br> <br> * As people submit an idea, people can search the system to see if someone has a similar idea across the organization – can team up, combine efforts and areas of expertise<br> * Social hub of Innovation within an <a href="https://www.theinnovators.community/">org</a>anization<br> * Get better ideas – cross-organizational efforts – collaborations that generate exciting ideas<br> <br> Supports whatever your organization's process is for Innovation<br> <br> * The tool needs to match today's and even tomorrow's process<br> * Track ideas through the gating process your organization uses<br> * Follows phases of Innovation used<br> A lot of tools out there that force you to follow their process – be careful – you need a tool that follows your process.<br> <br> Needs to support pausing ideas<br> <br> * The difference between a good idea and a great idea is not about the idea. It's about the timing.<br> * Market, customer, organization, and government regulations are not ready for many reasons.<br> * The key is you always need the ability to pause the idea – capture it so that you can pause and pull out an idea later when the timing is right<br> <br> Ability to issue challenges<br> <br> * Don't run an idea management system like an electronic suggestion box – ideas will become incremental<br> * For breakthrough ideas, issue challenges: carefully worded questions, problems, and areas of interest put out to the general population...
