- We recommend that an idea exists about the maturity level of an idea or Innovation (see http://starstoroad.com/blog/?p=175).
- The existing ideas and potential innovations within our organization must be visible and transparent.
- We
need to fill the arena with a crowd of experts
Maturity of an idea or potential innovation
You could
ask: Why does the maturity matter?
Well, easy
to answer: your company has a limited amount of money to invest into
innovation. So your company power is limited to invest only in a small set of
ideas. Statistics show that only one out of ten ideas really reach the state of
a product to be sold on the market on once again only one out of ten products
sold on the market gains sound profit.
Following
the statistics, your company will be more successful on the market if it
invests only in five to ten ideas out of a hundred. Additionally most of
innovation budget shall go into the products that are just before market
launch. That is the most critical time where speed is essential to win against
competitors. That implies only a small budget shall go into the selection
process that identifies the ninety to ninety-five ideas that are still on hold.
And these ideas are on hold of different reasons: Vision is not clear, the
market is not clear, the market is not awaiting the product, the company is
unable the develop the product, whatever internal or external reason there are.
A simple
understood maturity model for ideas is a good way to go. I recommend the “from
stars to the road” maturity model by Markus Flückiger and Pete Jones.
References are the blog entry by Markus and Pete about stars to the road, their presentation about the maturity levels
(and the icons ready for download used for the
different maturity levels).
The
maturity model is simple. It works with the maturity levels star, cloud, tree
and road
Star | The idea is a first sparkling glitter. There is no chance to say if the idea could be developed into something concrete or we do not have any feedback if anybody has interest in that idea | |
Cloud | We see contures and shapes. We are able to at least communcate a vision for that ideas; the most important features of that ideas and who the personas, the target market is that might have interest in that idea. | |
Tree | The idea is pretty concrete. We have a vision, we clearly see a potential target market, but there are still some issues and risks before we really are willing to invest a sound budget to develop that idea and turn it into an innovation. We could say we see already the apples hanging in the tree, but still they do not fall off. | |
Road | No we got it on the road down under our feed. We are willing to invest and we will invest to develop that terrific new thing am make the innovation happen. |
There is
one important thing in your company I would like to remind of: Please do not
establish a detailed and formalistic innovation maturity model with a huge set of criteria
in your company. That will not work. That will kill creativity and visionary
thinking. These maturity levels have to be defined in discussions, via communication
and agreement by the involved persons.
I hope as well there are many of persons involved – more then just the managers of the company, but as well
employees, clients, partner, friends or even people out of a cloud. Yes: one
side result of the Innovation Arena is as well to agree about
these maturity levels.
The second
side result is: It shall be transparent and understood to every single one in
your company what amount of resources (money, time, …) your company invests
into an idea on a specific maturity level. And yes: you should set a limit for
the number of ideas that hit the road as the next innovations of your company. Turning
these ideas into innovations eats up resources.
...next blog will discuss transparency of an idea....