The Innovation Booster #8

The Innovation Booster is a monthly periodical bringing you five great reads on innovation, strategy, and growth that will inspire you to act, kick off your creativity, and challenge you to think differently.

In this issue of The Innovation Booster I feature great reads on creating a shared identity, driving growth through product-innovation, problems with stage-gates, cost of being late, and the S.O.S. method:

1. How Great Leaders Create A Shared Identity by Greg Satell. Behind every fascinating strategy, transformation, or comeback story there is a big idea backed by the leader. The idea itself is not so important, but rather the unified focus and shared identity it brings, allowing the people to focus their energy. Greg weaves a compelling story about the importance of this shared identity.
2. Product-First Thinking – A Way To Accelerate Growth by Mike Shipulski. Long time ago a read a book which was all about three rules of business: better before cheaper, and revenue before cost. Third rule was that there are no other rules. Mike makes a similar argument but with different words. Being product-first means value-first means more growth opportunities.
3. The Problem with Stage Gates Isn’t the Gates by Dan Toma. Stage-gate model is all-pervasive. There is a variant of it in every large enterprise on the planet. And while stage-gate model can work for innovation, it has to be slightly tweaked first. Dan shares two problems, and two solutions.
4. The Cost of Being Late: What Businesses Can Learn from Successful F1 Teams by Peter Mallik. Peter Malik of the Hubbard Decision Research uses a F1 racing team to convey a five step process for making better decisions: define the decision, model uncertainty, determine value of additional information, measure if you have enough information, and optimise decision. Dominik and I detailed a very similar process in our Augmented Strategy book.
5. On the S.O.S. Method by Bruno Pešec [subscriber exclusive]. We must think broadly, explore a multitude of possibilities, their potential outcomes, and our available ways and means to handle them, all in service of our desired ends and outcomes. Enter the S.O.S. method.

Mastering Innovation Management

If you are measured on innovation results, this programme addresses the root cause of failure: the absence of actively managing innovation investments. Through twelve strategic deep dives, you will master innovation boards, portfolios, accounting, and more. Click here for details.

The Living Strategy

What do you do when the plan no longer fits and the decision cannot wait? Join Holger Nils Pohl and me in Cologne on 7 October to find out. Three hours, hands-on, small group of senior peers. Early bird €300 while it lasts. Register here.

Playing Lean Facilitator Training

If you help others learn how to innovate, this is for you. Join me in Frankfurt on 12 October for a full day of Playing Lean Facilitator Training: hands-on practice, personal feedback, certification, and the complete facilitator toolkit. €400 until 12 September. Register here.