The great news is that any organization can innovate without spending a lot of money. Providing mock-ups or prototypes of a potential innovation at the start of any process can help promote discussions both internally and externally to refine and expand upon requirements, allow teams to rapidly iterate, and improve upon the products and services in development. The sooner we can provide a prototype or beta version that people can review, the sooner we can figure out whether our idea has market viability. If it doesn’t, it’s better to learn that lesson at the outset and avoid wasting further time, money, and energy trying to bring it to market.
To add to the idea of not needing a large budget (or hire and train lots of internal staff), we don’t need to stick to the bounds of our own organization for ideas. Plenty of organizations use experts and research outside of their organizations to come up with ideas – what’s termed open or crowd-sourced innovation. Bill Joy, former chief scientist at Sun Microsystems, says, “No matter how many smart people you have, most of the smartest people are never in your own company.” The more ideas we come up with and investigate, regardless of whether they originate within our own organization (or even our own industry), the better. Proctor & Gamble, for example, has 7,500 R&D researchers on staff and developed a “Connect and Develop” program that enlists the help of 1.5 million (non-employee) scientists globally to solve customer needs and come up with innovative solutions. It’s been so successful that, today, nearly half of P&G’s product development portfolio and products on the market have come from their C&D program. So, knowing that we don’t have to spend a ton of money or hire a huge team of people, how can we improve our organization’s ability to innovate? We will look at that topic next.
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