Do you have a great idea? Is your idea the proverbial “game changer?” How do you know? Here are four criteria that you can use to evaluate your ideas:
- What is the benefit of your idea? What is its return on investment?
- What is the cost of your idea? What are its risk factors?
- Does your idea have a strategic fit with your organization? It needs to be consistent with your organization’s practices.
- How easy will it be to implement your idea? This is a key criterion.
If your idea passes all of the above criteria, then you possibly do have a “game changer!”
Other things to consider in relation to innovative ideas include:
- Most innovation is incremental. If you have 25 percent of your organization’s people making a difference every day; that will amount to huge change over time. Patience is a virtue.
- Innovation usually surfaces on the front lines. For instance, it’s the FedEx guy who realizes things can be done better; not FedEx management.
- Size of the organization is irrelevant when it comes to innovation. However, bureaucracy is the enemy of innovation because it only rewards conservative victories. Be bold!
- Innovation is sensitive to both new and desired customers. For instance, I believe it was Wayne Gretzky that said, “I don’t skate after the puck, I skate to where the puck is going to be.”
- Innovation requires champions, but it also requires other things like focus, resources and priorities. It’s about consistency. For instance, if you need a fiscally prudent environment, then it needs to be fiscally prudent every day. Through consistency, the organization can change belief systems.
- Innovation requires patience. Sometimes results of change can take a long time to show themselves. Remember the first bullet point above: Patience is a virtue.
- When you have a “game changer” in hand, you need to exploit it. Seek out new markets. Use social media. Get noticed.
Finally, to accelerate innovation, promote its likely causes (e.g., front line workers) and exploit innovation for all its worth. After all, it’s innovation that makes the world move forward. In the words of Peter Drucker, “If you want something new, you have to stop doing something old.”