Page 108 - Free the Idea Monkey

4. Death By Consensus. If everyone has to agree on the key
characteristics of a new product, you are going to end
up introducing really bland products. The higher
the number of people who have to agree, the worse
this gets. Create a small task force of new product
experts and empower them. Let them live (or die)
by how often they are right. You will get more
compelling ideas to market faster.

3. No One Told The Higher Ups. You have a
great idea. But because your process did not identify
key stakeholders and influencers, it is your idea, not everyone’s.
Want to see your boss kill an awesome idea? Fail to include him early
and often.

2. Leadership Churn. You have a great idea, but you turn it
over to others who don’t care as much as you do. As we have said
throughout, the people who come up with the idea need to see it
through to the marketplace. Ideas need parents.

1. Ready, Fire, Aim. Speed to market is a killer concept in the
negative sense. It kills new products. You don’t want to make your
mistakes in public. To launch a product before it is ready with a $40
million campaign is just idiotic. The problem is, it isn’t seen as idiotic.
It’s seen as one of the costs of doing business. That’s sad. Repeatedly
test your product in limited markets and refine after each test.

BELIEVE IN INNOVATION TO WIN
There is no doubt most companies today are big believers in the

idea of innovation. Its importance is heralded in corporate visions
and mission statements. The CEO speaks its glory in almost every
speech, and its importance is celebrated on internal posters as well
as in the company’s marketing materials.

So how come we’re not being overwhelmed by innovative new
products and services?

Unfortunately, that’s simple to answer.
Saying you believe in something is one thing. Living what you
believe is another. Most companies don’t believe in innovation
enough to do much more than pretend.

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