April Fools' Post: Missing The Innovation Boat

Ah, April Fools’ Day – that 24-hour period when we can play harmless pranks and practical jokes on those who are near and dear to us.

I'll be co-hosting an April Fools’ Innochat about “Missing The Innovation Boat.” We’ll spend our time discussing how and why companies give away, pass on, or are completely overlook innovation opportunities.

To jumpstart our thinking, I’ll offer what I consider to be two reasons companies miss the innovation boat:

1. Listening To What Consumers Have To Say  Often companies will conduct focus groups to determine whether an idea has merit; unfortunately, consumers aren’t always able to see the potential of an idea right away, particularly when they are asked to evaluate it quickly and without much-needed context. I came across this wonderful
YouTube video about killing good ideas. Not only is it entertaining, but for those of us who have been behind the glass and in front of it, it’s so very true.

2. Drawing Conclusions Based On Personal Behavior & Habits  How often have we seen initiatives cut short because an executive could not related personally to an idea? Here’s an example from “
Why Ideas Rejected By Big Corporations May Profit Small Entrepreneurs” by Ronald Manalastas:

In the 1970s, a leading firm in the industry of importing and selling beverages had declined the idea of importing bottled water. The big boss categorically said, who would need water in bottles when you can simply get it from the tap, and who would want to buy sparkling water? The unknowing boss thought that there was no market in the US for mineral water such as Perrier, Evian, and San Pellegrino. The water was being drunk by millions of Europeans and Americans travelling to Europe, or with European origin. This addressable business potential gave the entrepreneur the courage to begin importing bottled water after establishing a small company, and the small business has become a large and thriving corporation.

And a bit of fun for you… While I was looking for framing content I came across this
Send Your Idea To The Fire site. Just something to keep you smilin’ while striving to keep those around you from being Innovation April fools.

As always, your comments are welcome. See everyone Thursday 4/1 at noon EST!
Gwen
@Gwen_Ishmael

Print | posted on Monday, March 29, 2010 3:59 PM

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