Why you need an internal innovation team
"Every organization has to prepare for the abandonment of everything it does."—Peter F. Drucker, American management consultant.
How does a pack of wolves take down a bear? They attack from all sides. While the bear is dealing with a frontal attack, another wolf is attacking from behind. Ultimately, the bear gets exhausted from turning and turning and turning to address each attack.
Maybe you’re the biggest vendor in your space but you’re being attacked by upstarts. After all, with today’s technology, a new player can go from idea to execution in weeks—less time than it takes for you to get a business plan defined and approved.
Maybe you’re the biggest vendor in your space but you have more ideas than you can execute. And as soon as you decide on a set of priorities, a big sale or executive pet project comes in that de-rails the plan.
To survive attacks from too many internal ideas and too many external threats, you need a nimble planning process to move (quickly) from idea to execution. You need to evaluate a new idea, test your hypotheses, and come up with a plan—before your competitors do.
That’s why I recommend an internal innovation team. A team dedicated to a single product idea. A team without a thousand meetings and phone calls and emails related to existing products. A team that is able to ignore “what is” in favor of what could be. Should you deliver via the cloud? Should you do a subscription? Should you sell over the web? Just because your company hasn’t in the past doesn’t mean you can’t in the future.
You can build a business concept and deliver it to market in only 90 days.Who is on the team? A business expert, a market expert, and a technology expert. (Notice I didn’t use titles here. The key is not the title but the expertise.)
And how responsive could this team be if it didn’t have to train everyone in the sales and marketing and support and services teams? Instead you build a small launch team focused on a small group of representative customers.
With a small team of experts, you can build a business concept and deliver it to market in only 90 days. It’s possible! After all, it’s what your competitors are doing.
Interested in the types of expertise in product management? Read my free ebook "Expertise in Product Management."