I to i - Moving from Big I to Small I
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Big I initiatives was the way it used to be done. Heavily research influenced, markets were overanalyzed and innovations became front page stories. Today, the world has shifted to research in the small. Hypothesis driven design has taken form. Innovation is now seen in smaller, more frequent announcements. This is a lecture I have to Georgia Tech's Scheller MBA program in 2018.
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I to i - Moving from Big I to Small I
- 1. 1 JoeKleinwaechter VP of Innovation& Design,Worldpay A Shiftin InnovationModels I to i
- 2. 2 Way back in 2017 I presented this view of corporate innovation:
- 3. 3
- 4. 4 That was then. This is now.
- 6. 6 93% of successfulinnovations start inthe wrongdirection.3 48% of newproductsarekilled or commerciallyfail.1 It costs4x theR&D investmentto bringthe samenew productto marketthanit didfive yearsago.2 Comm ially Succe l 52% Commercially 28% Killed 20%
- 7. 7 innovation nnovation These conditions have radically changed the innovation landscape.
- 10. 10 Innovation Must Have Demand
- 11. 11
- 12. 12 There are two distinct approaches to corporate innovation teams.
- 13. 13 1. The Push Model
- 14. 14 BUT MY VIDEO TAPE IS FULL. I WANT TO RECORD FULL HOUSE TONIGHT 2. The Pull Model
- 15. 15
- 16. 16 To Be of Interest to Business Innovation Must Have Demand
- 20. 20 How Do You Find Demand?
- 21. 21 InventionDemand Innovation+ = Job To Be Done Unmet Need Demand
- 22. 22 InventionDemand + Development Building things right Discovery Building the right things
- 24. 24 Discoveryisallabout creatinghigh- performingproductsin theshortesttimepossibleby focusingonsolvingthe rightproblem.
- 25. 25 “IfI weregivenone hour tosave the planet, Iwould spend 59 minutes defining the problem and one minute resolvingit.”
- 27. 27 Desirable FeasibleViable Theroot of discovery is designing with intention along three main elements. Weoften call it the VFD model.
- 28. 28 Viable ShouldWeDo This? This element is typicallyledbythe Product Managementteam.Thisis wheretheheart ofthe businesspropositionis developed andassessed. Desirable FeasibleViable
- 29. 29 Feasible CanWeBuild This? This element is typicallyledbythe Engineering team.It startswithearly architecturalinvolvement andflowsinto IT asplanning becomes clearer. Desirable Viable Feasible
- 30. 30 Desirable DoTheyWantThis? This element is typicallyledbythe User Experienceteam.Doesit solveaproblem that aconsumer needs tohavesolved?Does itfit properlyintoa consumer’slife? Consumer empathyis thebuilding blockofthis element, FeasibleViable Desirable
- 31. 31 Themagic happens in the union of these three key roles. This is the heartof the Small “i” Model. UX Lead Tech LeadProductLead
- 32. 32 Dual Track Discovery Model UXLead Tech LeadProductLead UX TechProduct Horizon 2/3 Horizon 1
- 33. 33 Lean Startup in one sentence: Always be experimenting.
- 35. 35 Design Thinking Lean Startup Agile This is the face of innovation in 2018. It is faster, userfocused, cheaper,and has a higher hit rate.
- 36. 36 innovation nnovation 2018 – The Year of the Small ’i’
Notas do Editor
- Fast forward movie of last year’s presentation
- (Build slide) The Problem is that failures in the market are costly. The problem is that most of those are solving the wrong problem. Stage-Gate International (http://bit.ly/2A9rRsr) Forbes (http://bit.ly/2ntNz4p) Clayton Christensen (http://bit.ly/2ATCdwb)
- Build Slide.
- How do you get demand?
- The Refrigerator art story. Is this innovation?
- Start with technology then find a problem to solve
- Start with a problem, then find appropriate technologies.
- My story of going into a Home Depot to solve a problem
- My wall. Every single tool in here was purchased to solve a particular problem.
- Except these two.
- How do you get demand?
- The elevator is too slow. Solution: Make the elevator faster Options: replace the lift, install a stronger motor, or perhaps upgrade the algorithm that runs the lift Instead Maker the wait feel shorter. Install mirrors.
- VFD
- VFD
- VFD
- VFD
- VFD
- VFD