Innovation Resolutions
It is that time of year when we wipe the slate clean and set ourselves new resolutions and goals. I expect that like me you have some personal resolutions. Have you turned them into targets that are measurable and given yourself dates by when you want them done? Whether it is losing weight, getting fit, saving for your pension, writing a book or learning a language you need to turn vague resolutions into hard metrics.
When it comes innovation the same approach applies. It is no good just planning to be more innovative - either for yourself or your organisation. You need to set targets. Here are some typical corporate style goals:
- Implement a new idea generation and evaluation scheme by 15 April 2008.
- Run creativity and innovation workshops for 50 staff in the first quarter.
- Have everyone allocate at least one day per month to innovation initiaitives.
- Select 10 promising ideas each month for trial.
- Implement 10 new products and 6 new services this year with at least 60% success rate.
- Improve the ROI on our innovation projects by 30%.
- Reduce the time from evaluation to implementation for new products to under 5 months on average.
- Over 30% of this year’s innovations to have started outside the organisation.
Choose a small number of targets that suit your environment and then articulate them clearly. Get buy-in from senior executives. Translate the targets into objectives for individuals. Measure progress. Reward and celebrate success.
Let me know what targets you set and how you get on. I will be happy to advise and to join in the celebrations!
Have a great and innovative year in 2008!
Paul Sloane