The need to “think outside of the box” is obvious. In today’s rapidly changing business world this has never been more true. Over the Covid period there have been some interesting examples where businesses have had to reinvent themselves in order to continue trading.
The journey to innovation has been speeded up significantly for those businesses who suddenly found themselves with time to think and no distractions.
Innovation is difficult ( when you have your normal day job to complete) and complex decisions need thinking through, so therefore often get left and avoided.
Gut feel and Gut feeling are just the starting point and what we need to do is train the brain and start the quest for data
Unlocking Options and the issue of data
- If we collected all the data from the beginning of time to the year 2000
- It would be less than we now create in one minute
- With data we can make better decisions
- We need to bring data into decision making
The Quest Approach
- Question – get the data / information that is preventing decisions
- Understanding – do we now fully understand all the issues
- Everything else – what else do we need to consider, lets look at the wider picture
- Success – what will success look like,
- what’s the best that could happen
- what’s the worst that could happen
- Try – what are you going to try. As a leading sports brand states “Just do it”
More Information Changes Perception – Testing your idea
- What is your minimum viable product / activity to adequately test the idea
- an air bed on a lounge floor was the starting point for AirBnB
- Explore the potential for Win / Win partnerships
- Learn from other mistakes
- Even if things are going well innovate ( no need to wait for a global pandemic )
- If things going well – innovate