I just launched a short course on the University of Queensland website on entrepreneurial thinking and innovation.
All along I thought the magic in lean startup was customer development. I was wrong. The magic is hypothesis testing.
As reiterated by Tim Kastelle in the previous post, it’s imperative to distinguish discovery from execution when it comes to startup and innovation activities – bearing in mind that both purposes are complementary and equally important. This suggests following a dual approach for balanced corporate innovation management. The main objective of dual approaches is to sufficiently separate exploration-/discovery-oriented initiatives from exploitation-/execution-oriented ones […]
Discovery and execution are two different things, and we must treat them differently in order to succeed at innovation.
The first time I was advocating the idea of a dual innovation approach, here also referred to as organizational ambidexterity, is now more than 5 years ago. At this time it became pretty obvious to me that this concept – academically worn-out but deficiently or not at all put into practice in most organizations – would be of increasing importance […]
Every day we hear about traditional industries being disrupted, about great new ideas that are creating growth, and about changes to the way we work. It sure seems as though the nature of business is changing these days. But is it, really? It turns out the answer is yes. I’ve done some research with Nilofer […]
The second part of Ralph Ohr’s guest post on the current big issues in innovation management, with comments from Tim.
Ralph Ohr revisits the key issues today in innovation management.
When we have a great new idea, we want to move fast with it. But we also want impact, and to get that, we need to make sure that we don’t accelerate before we’ve gotten the idea nailed first.
When starting a lean startup process, our first hypotheses are often too precise. When we’re in discovery mode, we actually need to have pretty vague hypotheses to start – here’s how to build them.
People often use tools as a substitute for the underlying skills that you need to be good at something. This is a mistake. To innovate, we have to invest in learning the core innovation skills.
According to Tom Peters, whoever tries the most stuff wins. Time to start experimenting.