Innovating in Real Time
When asked, nearly every business leader will acknowledge that they would like to have more innovation. They instinctively know that more innovation has the potential for improving their business.
But business leaders are also wary of innovating. Not only wary of the distraction innovating could cause, but also wary of their customer’s response to the introduction of a new solution. If a new solution struggles to gain acceptance within the business, or the introduction of a new solution struggles to gain traction with customers, the chance of a new solution becoming an innovation is small.
In a lot of cases, this is exactly what happens. A generally accepted estimate of the success rate of innovating yielding an innovation is 20%. For many businesses, the uncertainty of a low hit rate is too great a risk of resources, time, and money to commit to innovating as a normal business activity. Business leaders will commit to innovating only when they have to.
Innovating only when they have to is often a default decision triggered by dissatisfaction with business performance. But research has documented that 80% of successful innovating projects start with dissatisfaction in the user experience with existing solutions. Innovating under duress to improve unsatisfactory business performance is a contributor to the low innovation success rate.
High hit-rate innovating is market-focused and market-driven. The probability of a new solution becoming an innovation increases when innovating occurs in times of business stability, when you can focus on the market and not on the urgent demands of business performance.
User dissatisfaction with an existing solution, in alignment with the novelty and improved satisfaction of a replacement solution, is what makes innovation probable.
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Change creates tension
Wary of causing trouble
Is no change less risk?
– haiku, Kevin A Fee, Nov 13, 2023
Agile Innovating ™ is a novel systemic practice that integrates prominent innovating methodologies and proprietary techniques, the best elements of the Agile Software Development process, and the waste reduction focus of Lean Manufacturing.
Agile Innovating ™ systematically reduces the trouble caused by uncertainty, slow development velocity, and resistance to change. A-I delivers more innovation faster, making innovation the norm.
To learn how Agile Innovating ™ can make innovation the norm in your business, go to agileinnovating.com.