Talking ‘innovation’ is easy. But how do you get there?

We need to measure our willingness to try, to fail and to learn from the journey, not just the results. 

Failure is a necessary and vital part to achieving success. Keep reading for three more minutes here.

Oracle turns to innovation hubs to drive cultural and business shift to cloud

How they measure innovation success in the hub is different to the daily operations of the existing business.

You can go a long way when executives buy into innovation – validating my speeches on my concept and proposal on the INNOVATION HUB! Thanks ORACLE – read full story here!

This key metric is how Ben & Jerry’s measures success

Ben & Jerry’s purpose-driven business model demonstrates that doing good for the community is also good for business.

Consumers have deeper, more loyal connections to businesses that have shared values. Keep reading here.

The Testing Mindset – How to Find Product/Market fit

“Here’s the thing with innovation, you can’t just tell people to be innovative. A great idea doesn’t always come when you’re sitting at your desk between 9:00am and the end of your working day. Here at etventure we’ve tried various approaches to innovation in the last few years, and what we’ve learned is that success cannot be planned. You have to embrace uncertainty and understand that the majority of your decisions are based on assumptions. You have to invest skillfully to test these assumptions. The smarter your investment in testing, the better your chances of product success. Here’s what we’ve learned based on our experience of adopting a testing mindset and seeing your way through innovative product development.”

* Product/Market fit Cannot be Planned
* Reduce the Costs of Failure
* Prioritize Investments
* Is there Interest
* Reachability of target group
* Willingness to pay
* Technical Feasibility
* Scalability in order not to be forced re-build later on
* Focus on Outcome not Output

So please keep in mind that building an innovative product is so much more than just executing software specifics. By applying the testing mindset you’ll enhance your chances of success.

Read the full article here at “mind the product” from GREGOR ILG.