Benchmarking is the comparing of your organization to others to measure your performance and possibly identify areas for improvement. It has been common practice since the early 1900s. Frederick Taylor, an American mechanical engineer, is credited with coining the term “benchmarking” in his book, The Principles of Scientific Management. Benchmarking enables continuous learning and improvement by identifying those that are having an impact and change and following them. These learnings and improvements can nurture the innovation success of your organization. Benchmarking helps you understand how you compare to others in your industry, making it easier to identify the best practices. For example, benchmarking enables you to identify the companies that use the best technology, the fastest production time, or the lowest costs. Whatever the measurement of success you define in your benchmarking activities, a benchmarking study can help an organization's managers make strategic decisions. It may also provide some insights into where to allocate your corporate resources. A common part of the data that gets collected in benchmarking is headcount. All kinds of weird metrics come out of this, such as dollars per revenue. While this is all good, there are also some challenges that we're going to discuss.

In general, benchmarking could prove useful in business units where benchmarking data reveals which competitors are performing better than others. However, before benchmarking, you must first conduct research to know who to benchmark against. You want to benchmark peers that are similar to you. You don't want something unrelated, such as comparing a software company to a steel manufacturer. You want something similar. Similar peers could be in the same industry, have similar sizes, or they could be selling and servicing in a consistent geographic area. It can be tempting to say we want to be more like Silicon Valley. If a restaurant in Milwaukee benchmarked itself against the leading companies in Silicon Valley such as Apple, Google, or HP, that comparison would be meaningless.

Benchmarking Failures

Benchmarking has been around for quite some time, and it has some strong benefits, but there are bad that can come from benchmarking as well. The key here is that benchmarking can have negative consequences if done wrong. For example, if you benchmark against peers who are poorly chosen, it is not going to work. This can lead to bad decision-making and can destroy organizations. Therefore, it is important to handpick your benchmark peers to get accurate insights. For example, in the late 90s and early 2000s, MCI WorldCom, a major telecom company in the United States, was reporting results far better than any of its peers. AT&T and others attempted to benchmark themselves to find out how MCI could have a such standout performance. This resulted in the industry changing its strategies and its investment models to chase the MCI WorldCom results. While their competitors tried to play catch up, MCI WorldCom continued to report surprising results. That is until authorities revealed that MCI WorldCom was practicing fraudulent accounting practices. They overshowed the revenue streams, and they misallocated expenses to make their results look good.

People had made decisions based on a benchmark against somebody who looked like they were performing outstandingly. To compete with how MCI was performing, they changed how they operated. MCI WorldCom eventually went bankrupt, but AT&T survived unscathed. They had size, scale, and all the capabilities. However, others in the industry got trapped in the benchmark. They made bad decisions, just like a company that I was at called Teligent. I was one of the original five founders of Teligent, and we got wrapped up in it. We were a competitive local exchange carrier, or what was called a CLEC at the time. We looked at MCI’s results and wondered how they were able to deliver those kinds of results. We made decisions to try to drive a performance level the same as MCI WorldCom. Eventually, Teligent ended up in bankruptcy, but I was long gone at this point. Because Wall Street was pounding on every telecom company in the industry to reach those same-level results, fast-paced innovation was essential. People made bad decisions because of a bad benchmark, and that bad benchmark was a result of fraud.

The Benchmark Trap

As a leader, whatever your role may be, odds are one of the big four consulting firms have either approached you, your CEO, or your board of directors to do an innovation benchmark on your organization. If not, count yourself lucky. If you have done an innovation benchmark, you know the nightmare this can cause for your organization. These engagements are all about comparing how an organization's innovations compare to each other’s innovation processes, approach, culture, etc. But why has this become such a hot consulting offer? Leaders in most organizations are feeling very uncertain about innovation. This may be due to their lack of ability to come up with new ideas, or because of their historical inability to implement new ideas successfully. An organization may be able to come up with an idea, but most organizations historically struggle with making those ideas real. How big of a problem is this and what are the consultants zeroing in on? There was a study by the Economist Intelligence Unit that found that only 38% of executives said their organization was, “very good at turning innovative ideas into commercial success”. When these kinds of studies come out, consultants are all over it. They quickly create a consulting service to ‘fix the problem’.

The problem is that only 38% of executives feel very good about their ability to turn innovative ideas into commercial success. When leaders benchmark their innovative approach to others, they're trying to benchmark themselves out of uncertainty and into comfort. They're uncertain because they aren't doing very well. They want to see how other people do it which causes them to try to copy the 38% to be successful. This is part of what I refer to as the benchmark trap. A single organization’s benchmarking engagement does not stand on its own because you don't benchmark against yourself. If you benchmark your organization's ability to turn out new ideas into commercial success, you are also benchmarking the quality of your peers who have been benchmarked before. You have to have somebody to benchmark against. This is the service that consultants sell. If you’re company A, and consultants have done a benchmark for Company B or Company C, they’ll do a comparison so you can determine how well you stack up. Leaders are looking for ways to stack themselves up, so they feel comfortable. However, when you benchmark yourself against competitors or industry best practices, the results will be that you become exactly like them in terms of innovation performance.

When you benchmark, you're either trying to compare yourself or you're adopting what is viewed as their best practice to you. This drives everybody in the industry to converge towards the mean in results. You're not going to be the leader. You're going to be me too. It's one of the things I always hated when I was in one of the big six consulting firms. I used to run the telecom consulting practice at Computer Sciences Corporation back in the early 90s. One of the things that we sold was benchmarking, but we also did process reengineering, consulting work, etc. We pushed on this concept of benchmarking, and I traveled all around the world and did these benchmarks. While you're selling it to the leaders, the leaders, therefore, get comfortable because they've got a document they can put in front of their board of directors, investors, or shareholders to show they’re just as good or better. As more and more companies within an industry or area focus on benchmarking and adopting best practices, everybody starts to look the same. If Company A has a best practice on innovation, and everybody copies that best practice, assuming that you can copy someone's best practice and be just as effective, you all start to look the same. I think best practices are the stupidest concept ever invented. Over my years of talking companies into doing best practices, I've seen the impact. It makes everybody average, and everybody looks the same. There is no ability to have to stand-up performance when you've adopted the same practices, approach, and strategies as everybody else. No matter how high or how low your original benchmark is, you may have been an absolute leader in sales or innovation if you hadn’t followed other’s benchmarks.

The Dangers of Comparison and Comfort

 Innovation in benchmarking can be a powerful tool. It can bring benefits when done correctly. But it can also lead companies astray if it's not handled correctly. Let’s discuss some of the consequences of innovation benchmarking. Firstly, leaders run unnecessary risks trying to replicate the benchmark results exactly. We find areas where somebody else is better than us which causes us to want to replicate and adapt it. Why is this a problem? Because benchmarking typically involves leaders looking for insights and inspiration from benchmarking peers. The benchmarking experience is often oversimplified down to exactly what people did, how they did it, when they did it, etc. If they don't, it's a black box. It's oversimplified, and it's not enough detail to where you can duplicate it. We tend to focus on why they did all these different things. Firstly, you don't have all the details, because there are things inherently behind the scenes, and secondly, you’re thinking it's a formula. As a result, this can lead companies to take unwarranted financial, strategic, or organizational risks. When you're trying to replicate the benchmark experience of a peer, that experience is often unique to the peer. There's a lot of history in an organization that is not captured in the benchmarking activity. Be careful when leaders run unnecessary risks trying to capture the magic formula of a benchmark.

The second consequence is that leaders may benchmark themselves out of uncertainty and into comfort without realizing it. When leaders take benchmarking too far, it leads to what I call the comfort trap. Leaders can miss new opportunities and threats that emerge in the market when they unknowingly benchmark themselves into comfort. While you are looking for insights from your peers, it's important to keep in mind that what works for them, may not work best for your organization. You may have a unique value proposition, a different competitive environment, different costs, or brand equity. Be careful you don’t cherry-pick those things that either make you look the same or slightly better, but no worse than your competitors.  

The third consequence is that leaders benchmark their competitors rather than taking a fresh look at their innovation approach. This is probably the one that frustrates me the most. I get calls all the time from people who read my book or who have taken the innovation bootcamp, asking why it's not working for them. Be careful, take, what somebody else is doing in the innovation approach is not something you can replicate. They failed to take a fresh look at their innovation approach. They fall into the trap of comparing themselves to others who are not their innovation peers. You want to understand and find people who are innovating, that are similar to you, and not to duplicate or replicate, but adapt to what would work for your organization and your culture. If you're just looking to copy somebody else's innovation process, it will lead to bad decision-making that can destroy your organization. When you benchmark your competition, whether, from other industries, geographies, size, scale, etc., you automatically compare yourself to others who have been successful in completely different strategies for innovation success than yours. Attempting to imitate them will lead to failure.

Example: Picking the Wrong Peer

Here’s a personal example to drive the message home. When I was CTO at HP, the CEO, Mark Hurd, had a quote that was ingrained in everything the executive team did. “If you stare at the numbers long enough, they will eventually confess”. Mark established a culture he referred to as “extreme benchmarking”. This required every leader at HP to know the key benchmark metrics for each competitor and to have a plan to meet or beat the competitor's benchmark results. There was a lot of pressure from the benchmark numbers being compared to your competitors. If your numbers were not better than theirs, then you weren't running your part of the business appropriately. You had to be prepared to answer a question from Mark, walking down the hall asking, “what were the last quarter's benchmark results for XYZ competitor? And how and what is our current?” It was insane. The result was more than a few poor business decisions on the part of HP.

One example that I was directly involved in was the cutting of HP’s investment in innovation and R&D, to match the spending of our Asia Pacific-based competitors. Now, to give you some context, HP was spending roughly 3% of product revenue in the PC group on R&D. This included both consumer and commercial business products. To compare, Apple was spending about 9% of product revenue in the R&D group. The peer that Mark was forcing us to compare against, in our Asia Pacific base competitors, was spending 0.8% of product revenue on R&D. There was constant pressure to cut resources or move things like engineering offshore to get the benchmark closer to our peer. And let me tell you, the pressure was intense. This is the perfect example of picking the wrong peer. In the case of all my conversations with Mark Hurd, it was all about this Asia Pacific competitor. I wanted three times the R&D budget so that I could compete with Apple. That was my logical argument. Mark wanted 3% of my revenue on R&D spent down to less than 1%. I pushed back hard on this approach. My one regret was not pushing back even harder or finding a way to convince Mark and others of the folly of this approach.

Now you would think with my role and personal passion for innovation, I would have been able to figure this out. Nope, I failed, and it is one of the few regrets from my time as CTO at HP. Now, whenever someone says the word benchmark, my antenna goes up. Whenever you are thinking about doing any kind of comparison, understand the context of the information. Ask yourself if that somebody or thing is a good comparison. I spent almost 10 years in one of the big six consulting houses convincing others to do benchmarks. I've been on the other side of the table, and I'll be the first to admit, that was bad advice. Given it was the most popular advice, it was the advice everybody was giving at the time. In reality, you cannot just duplicate what somebody else is doing. You have to deeply understand the context behind what you are attempting to benchmark against.

Conclusion

The best way to avoid falling into the innovation benchmark trap is not to benchmark for benchmark’s sake. Instead of getting caught in this trap, learn from your peers. Don't assume that what worked for them will work for you. You need to have some discernment as to what would work and what to ignore. If you follow blindly, your organization will become average, or worse, will be destroyed. Instead, look at what your peers are doing and ask yourself two questions: “Why are they innovating that way?” and “what can we learn from that approach?”.

It is critical to get inside the mind of your innovation peer that you've identified and understand their thought process and discern what of their approach is worth you're experimenting with. Don't adopt at wholesale, find the elements that work and experiment with them. Otherwise, your organization may drive itself right off the innovation cliff.

Innovation is often lauded as the key to success in business. After all, staying ahead of the competition is hard if you're not constantly coming up with new ideas and ways to improve your products or services. But is every idea you come up with a good thing? Is there such a thing as being too innovative?

To keep yourself honest, you may consider appointing a devil's advocate.

The Devil's Advocate is a popular movie from the 1990s that tells the story of a lawyer hired to argue against a candidate for a high-ranking position in the Vatican. The lawyer's job is to poke holes in the candidate's qualifications and to find any dirt that might disqualify him. While the movie is fictional, the idea of a Devil's Advocate is accurate, and it's something that companies sometimes use when considering new ideas. The aim is to have someone whose job is to argue against the proposed idea, to improve the idea by making sure that all potential problems with it are discussed and addressed.

Definition of a Devil's Advocate

The term "Devil's Advocate" comes from the Catholic Church. In canonization, the process of declaring someone a saint, there is a Devil's Advocate (advocatus diaboli) whose job is to argue against the candidate's sainthood. If the Devil's Advocate can't find anything wrong with the candidate, they probably deserve sainthood.

Why Companies Use Devil's Advocates

There are a few reasons companies might use Devil's Advocates.

First, it can help to prevent groupthink. When people work on a project together, they quickly get caught up in thinking that their idea is great and should be implemented immediately. Devil's Advocates can help to forestall this by giving other people a chance to voice their objections and to point out any potential problems with an idea.

Second, it can help to ensure that all the stakeholders are on board with a decision. When considering a new idea, it's essential to get input from all affected by it. The Devil's Advocate can help ensure everyone's concerns are considered before a decision is made.

Third, it can help to ensure that a decision is well-reasoned and thought out. When you're considering a new idea, it's easy to get caught up in the excitement of it and start thinking about all of the ways that it could be successful. But it's also important to consider all of the ways that it could fail. The Devil's Advocate can help to make sure that you're thinking about both the potential positives and negatives of a decision before you make it.

The Drawbacks

There are a few potential drawbacks to using Devil's Advocates, as well.

First, it can lead to decision paralysis. If you're considering a new idea and you have someone whose job it is to shoot it down, it's easy to get caught up in all the potential problems and never actually decide to go forward or kill it.

Second, it can frustrate the people who are working on the project. If you're constantly being shot down by someone whose job it is to find fault with your ideas, it can start feeling like your work is never good enough.

Third, it can lead to a negative work environment. If people feel like they can't share their ideas without being shot down, they may stop sharing them altogether. This can lead to a work environment where people are afraid to take risks and where new ideas never get a chance to be heard.

Overall, there are both positive and negative aspects to using Devil's Advocates. It's important to weigh the pros and cons carefully before deciding whether to use them on a project.

How To Properly Use a Devil's Advocate

If you decide to use a Devil's Advocate on a project, there are a few things that you should keep in mind.

First, it's important to make sure that everyone understands the role of the Devil's Advocate. The person identified as playing this role should not be trying to kill the idea outright; their goal should be to make sure that all the potential problems with it are considered.

Second, it's important to give the Devil's Advocate enough time to do their job. If you're considering a new idea, you shouldn't just shoot it down as soon as someone objects. Take the time to consider all the objections and to see if any valid points need to be addressed.

Third, it's important to make sure that the decision-makers are the ones who ultimately decide. The Devil's Advocate can provide valuable input, but they shouldn't be the ones making the final decision. That should be left to the people who are responsible for implementing the idea.

Devil's Advocate as A Passive Aggressive Response

When someone starts a statement with "I'm just playing Devil's Advocate," it is usually a sign that they are about to say something which they know is going to be controversial. It's a way of trying to distance themselves from the idea in a passive-aggressive way. The problem with this approach is that it rarely leads to productive discussion. The individual will raise objections to an idea but instead of providing constructive criticism, they will nitpick and try to find fault with everything. The effect is to shut down the conversation because people feel like they are being attacked. It can also make the person who is playing Devil's Advocate look like they are just trying to be difficult for the sake of it.

If you find yourself in a discussion with someone who is playing Devil's Advocate, remind them the role is a formal one and if they are volunteering for it, they need to play by the rules. If they are just trying to be contrarian, close down the conversation.

10 Rules for the Devil's Advocate

Being the Devil's Advocate can feel like being on a debate team. In debate, you are given a position and you must argue for it, even if you don't agree with it. The same is true of being a Devil's Advocate; you have to be willing to take on the role and argue for the other side, even if you don't agree with it.

Here are ten rules that will help you be a better Devil's Advocate:

1. Present an argument against a proposal or idea, without necessarily believing in that argument.
2. Identify and explore potential problems and objections to a proposal or idea to improve it.
3. Provide alternative perspectives and challenge assumptions.
4. Force people to think about an issue from all sides and consider all options.
5. Encourage critical thinking and healthy debate.
6. Ensure that all ideas are given a fair hearing before a decision is made.
7. Act as a check against groupthink, where people go along with the majority opinion without question.
8. Be open-minded and objective, without being wedded to any particular position.
9. See both sides of an argument and understand different points of view.
10. Be willing to change their position if the evidence or arguments presented are compelling enough.

Examples of How Devil Advocates Are Used

Over the years, many organizations have leveraged the idea of a devil's advocate to improve their decision-making processes.

For example, the U.S. military has long used Devil's Advocates to help improve their decision-making. Before a new policy is implemented, they assign someone the role of Devil's Advocate and their job is to find any potential problems with the policy. This helps to ensure that they consider the potential risks before they decide.

Another example of an industry that uses devil advocates is journalism. They are used to making sure that they consider all sides of a story before it is published. This helps to ensure accuracy and avoid any potential libel issues.

The legal profession also uses devil advocates. Lawyers will use them to consider all the potential arguments that could be made against their case. This helps to ensure that they are prepared for anything that could happen in court.

Final Thoughts

Just as a church provides a place for people to come together to learn, discuss, debate, and think, so too does the Devil's Advocate provide a space to discuss, debate, and critically think about an idea. The Devil's Advocate can help improve the efforts of an organization by ensuring that all options are considered before any decisions are made.

Here is the last interview from my time at the Cable Tec-Expo Show in Philadelphia. Collin Howlett, the CTO of Vecima, joins us to discuss the acceleration of innovation in the cable industry.

Collin Howlett of Vecima on the Pace and Sources of Innovation

Predicting the future grows more challenging as the pace of innovation accelerates. Customers are deploying innovations at faster speeds than ever. Most cable operators are now mobile operators, with their focus fixed on fiber. At CableLabs, we are showing coherent optics at 50,000 gigs over a single strand. While this mind-blowing capacity may not be needed now, it will no doubt be needed in the future.

Hardware to Software

With the pace of the broadband industry increasing, necessary transitions are occurring. As the network transitions from hardware to software, engineers must develop a different skill set. This is leading to a shortage of people who understand both software and hardware. Collin emphasized the importance of knowing where to put certain parts of the technology while understanding the software and hardware division.

Some hardware has been out there for 30 years, and the companies that created it are now gone. Its valuable to build hardware that is generic and can be developed over time. It’s vital to build software from a modular perspective.

Many of the technologies deployed today will greatly affect our predecessors. We must think about the unintended consequences of our innovations. Collin believes organizations must think of their innovation’s effects at least 10-15 years into the future.

Innovation Culture

Collin’s team at Vecima likes to follow what’s happening in other industries and identify what they can take from those industries and apply to their own. Due to the pace of innovation, concepts and prototypes need to be spun out a lot faster than in the past. Decisions need to be made quickly. Collin said it is also important not to get emotionally tied to what you are working on. Being able to quickly pivot to the next innovation is vital.

Automation and AI

Many brilliant engineers of our day are retiring, and the question becomes, “How do you capture that expertise?” Collin believes there is value in automating the development of technologies, and low-level work through machine learning and AI. While we can capture everything, this could be a way to help bridge the skills gap going forward. The bottom line is, if innovators are not applying machine learning today, they will be left behind.

About our Guest: Collin Howlett

Colin Howlett is the Chief Technology Officer, joining Vecima in 1997. He is responsible for defining the overall technology strategy at Vecima and leads a group of product architects who work directly with customers to define the next generation of Vecima products. Colin has been an active participant in industry standards development within CableLabs and the WiMAX Forum and is currently actively involved in D3.1 and D4.40 initiatives at CableLabs. He holds multiple patents related to his work in cable broadband access systems at Vecima. Colin holds a Bachelor of Electrical Engineering degree and a Bachelor of Computer Science degree from the University of Saskatchewan.

A few weeks back, I wrote an opinion piece for The Innovators Network titled, Innovation Hero Worship: FTX, Theranos, and the Media. The core of the article is my belief that the media has a responsibility to not feed into the hero worship of innovation leaders. But there is more to the recent high-profile innovation failures than just the hero worship of founders and CEOs. The announcement of the bankruptcy of FTX and the sentencing of the founder and CEO of Theranos to over 11 years in jail for fraud begs us to look more deeply at the underlying issue of irresponsible innovation.

What do I mean by irresponsible innovation?

The definition is a bit nebulous and open to interpretation, but generally, it is an innovation that is done with little or no concern for the potential negative consequences of the innovation. In a recent study, most leaders and informed citizens believe that the potential negative impact of an innovation is not something that is ever considered. In their minds, most innovation is irresponsible innovation.

There are 5 key contributors to irresponsible innovation:

First, there is a failure to consider and improve upon the consequences of an innovation.

With innovation, it's important to consider all aspects of the consequences. This includes the positive and negative effects that innovation will have on society. By failing to consider and improve upon the consequences of an innovation, businesses and governments can inadvertently cause more harm than good.

Second, there is a lack of accountability and responsibility in the innovation process. Businesses and governments must be accountable for their actions. This means that they must be willing to take responsibility for the negative impacts their innovations may have on society. Without this level of accountability and responsibility, businesses and governments are failing to act in a socially responsible manner. This accountability also needs to include the executives involved.

Third, ethical standards are absent when it comes to innovation. Ethics are important in any field, but it is quickly becoming increasingly important in innovation. Businesses and governments must set ethical standards and adhere to them. Without these standards, there is a risk that innovation will lead to greater negative outcomes.

Fourth, there is often a lack of transparency and communication about the risks and benefits of innovation.

Innovators and entrepreneurs must be transparent and honest about the risks and benefits of their innovations. This includes providing realistic information about how innovation may affect society, as well as any potential solutions for mitigating negative effects.

Fifth, there is often a focus on the financial returns of innovation rather than on balancing its societal impact.

It's important for businesses, governments, and investors (e.g. venture capitalists) to consider the broader societal impact of their innovations. This means that financial returns should not be the sole focus. We should evaluate both the financial return and impact based on the innovations' potential to improve or harm society.

"Just as a car needs both the accelerator and the brake, responsible innovation requires both pushing boundaries and considering the consequences."

Intentional Versus Accidental

Not all negative effects are intentional. Sometimes, innovation can hurt society as a result of unintended consequences.

Intentional irresponsible innovation happens when companies knowingly take risks and create negative social outcomes. A recent example is Facebook’s conscious decision to prioritize engagement and growth over user privacy.

Accidental irresponsible innovation occurs when companies lack the necessary knowledge or resources to fully consider the consequences of an innovation. Unfortunately, these types of mistakes can lead to serious consequences. A recent example is the Uber driverless car that killed a pedestrian.

Consequences of Irresponsible Innovation

The consequences of irresponsible innovation can be severe and far-reaching. Organizations that fail to consider the potential social impacts of their innovations risk creating serious problems. These could include financial losses, public distrust, and even legal liability.

Financial

Financial losses due to irresponsible innovation are not just limited to shareholders and investors but can also have consequences on the wider economy. For example, when FTX went bankrupt, it hurt the entire market.

Legal and Ethical

We must also consider that irresponsible innovation can have serious legal and ethical implications, as seen in the case of Theranos. In this scenario, both investors and consumers were misled about the efficacy of a product and the company, along with the founder, was found guilty of fraud.

Public Distrust of Innovation

Finally, we must consider that irresponsible innovation can lead to public distrust of innovation. This could mean that people are less likely to embrace new technologies and products, leading to slower economic growth and development.

What Can You Do?

We must all work together to create a framework for responsible innovation that considers the potential consequences of our innovations and work towards creating a better future for everyone.

This will require a firm commitment from all stakeholders to consider the potential consequences of their work. This includes companies, governments, citizens, and the media.

Companies

Companies must be proactive in identifying and mitigating any negative impacts of their innovations. They must also be willing to take responsibility for these impacts, even if they are not directly responsible for them. How?

1. Articulate the goals and values that will guide responsible innovation
2. Educate the entire team on responsible innovation
3. Invest in tools and processes to measure, monitor, and mitigate the risks of irresponsible innovation
4. Gather input from stakeholders to ensure their perspectives are taken into account
5. Identify potential negative effects of the innovation and develop plans to mitigate them
6. Communicate the plans to stakeholders, customers, and citizens with transparency

Governments

Governments must create a framework for responsible innovation that considers the potential societal consequences of new technologies and products. This framework should encourage others to act responsibly and provide guidance on how to do so. How?

1. Make responsible innovation part of government policy
2. Consult stakeholders to ensure their perspectives are taken into account
3. Develop policies and regulations that promote responsible innovation
4. Provide incentives for companies to act responsibly and penalize those who don't
5. Monitor compliance with the framework

Citizens

Citizens must be willing to ask questions about the consequences of innovations and hold all stakeholders accountable for their actions. We must also be open to change, accepting that not all innovations are good and that we need to weigh the costs and benefits of each carefully. How?

1. Ask questions about the expected pacts from an innovation
2. Educate yourself on responsible innovation and be aware of potential negative consequences
3. Advocate for responsible innovation where possible
4. Take part in dialogues with stakeholders to ensure your perspective is considered
5. Support companies, governments, and other stakeholders that are making positive strides toward responsible innovation

Media

And let's not leave out the role of the media. The press needs to provide accurate, objective reporting on the consequences and impacts of innovations. This is essential for informing citizens and holding companies and governments accountable. How?

1. Provide accurate, objective, and completereporting on innovations
2. Investigate potential negative impacts of new technologies and products
3. Highlight companies or governments that are making positive strides toward responsible innovation
4. Ask questions to ensure all stakeholders are taking responsibility for the consequences of their work
5. Give a voice to citizens who are being affected by irresponsible innovation

Examples of Irresponsible Innovations

Here are some recent examples of high-profile failures from irresponsible innovations and the lessons learned from each.

• Facebook’s Cambridge Analytica data scandal: This incident highlighted the importance of data privacy and security, as well as the need for companies to be transparent about how they use customer data.
• Volkswagen’s emissions-cheating scandal: This case showed how important it is for governments to have strong policies and regulations in place to ensure companies are following the law.
• Uber’s surge pricing during disasters: This incident showed the need for companies to be aware of their social responsibility when setting prices, and to consider their impact on citizens who are already in vulnerable circumstances.

Conclusion

Irresponsible innovation can have serious consequences. It's important to take steps toward creating a more responsible system of innovation to avoid potential negative outcomes in the future.

Responsible innovation is becoming an essential part of creating a positive future for everyone. If we make sure that businesses and governments take the time to consider the outcomes of their actions, are held accountable for them, and stick to ethical standards when coming up with new ideas, it will be possible to build a more dependable system of innovation.

To put it simply, responsible innovation is about considering the human implications of any innovation advancement and striving to make sure that those implications are understood, communicated, and addressed.

If we want to make a real difference in the world, responsible innovation must be a priority for everyone.

This is the third interview from my time at the Cable Tec-Expo Show in Philadelphia. Asaf Matatyaou, the VP of Solutions and Product Management for the Cable Access Business at Harmonic, joins us to discuss AI, data, and innovation culture.

Consumer expectations have considerably shifted due to the impact of COVID-19. As a result, the reliability of network connectivity has become paramount. Power usage is another area brought to the forefront of innovation. The cable industry is heavily focused on reducing power usage while improving speed. Green initiatives and power saving, especially with the rising electricity costs, have become motivating areas for today's innovators.

Network Virtualization

The network is moving from traditional proprietary silicone and hardware stacks into software. As a result, running the network now requires different capabilities. As the cable industry steps into this transition, it is essential to get those with experience comfortable while also allowing them to utilize the newest technologies.

AI Automation and the Value Creation of Data

Finding the role of AI within networks to create reliability tends to be tricky. One group thinks AI is the most significant new thing, while others think it's evil and dangerous. Asaf believes that there is an excellent opportunity for implementing AI in terms of scale. To unlock this opportunity, organizations must be confident and prove they are getting the correct data. Secondly, they need the right actions for that data. Lastly, they need to train that data continuously. Many organizations overlook the quality of the data they are capturing. When Harmonic started, they put money into every bit of data they could. Over time, they realized the importance of filtering out non-valuable data. It is key to figuring out what data you need, what you can do with it, and how frequently you need it. I believe that if organizations are not thinking of applying AI to their innovations, they will be left behind.

Innovation Culture & Collaboration

Harmonic collaborates with its customers to pinpoint their desired focus areas and provide actionable solutions. Internally, Harmonic prioritizes having an innovation culture. The organization's leaders encourage experimentation at every level and don't shy away from failure. Every year, they host a two-day 'Hackathon,' allowing anyone in the organization to develop new ideas. They offer prizes for the top ideas and even implement some ideas into their solutions. To those who have an idea and don't know what to do with it, Asaf has a simple message: Don't waste time talking about it. Just do it, and then learn from it. Fail and then achieve.

Check out Asaf's LinkedIn here.

Check out Harmonic's website here.

About our Guest: Asaf Matatyaou

Asaf Matatyaou is Vice President of Solutions and Product Management for the Cable Access Business at Harmonic. Asaf is responsible for product management, strategy, and solution architectures in this role, including Harmonic's virtual cable access solution, CableOS®. Asaf has 20+ years of experience as an engineer and executive in the cable industry, including roles where he led the development of CMTS products and helped drive industry specifications. Asaf earned his BS degree in Computer Science and Engineering from the University of California, Davis.

Humans have always been thinkers. From the time early humans began to communicate, they used their brains to figure out how to survive and thrive. Over the years, humans have continued to use their brains to solve problems and create new things. To do this, humans have had to learn to think differently.

Interestingly, humans are not the only animals that think. Ravens, for example, are known for being very clever birds. They can solve problems and even use tools. However, humans still outrank all other animals regarding their thinking ability. This is mainly because humans can think abstractly. We can imagine things that don't exist and come up with solutions to problems that don't have straightforward answers.

Human versus Computers

With thinking, humans and computers have similarities and significant differences. Both humans and computers can solve problems. Although humans are better at abstract thinking, computers are better at logical thinking.

Computers can come up with ideas based on logic and data, but they cannot come up with totally new and original ideas. One thing that will always set humans apart from machines is our ability to think creatively and come up with new solutions to problems.

Thinking Styles

There are two fundamental ways humans think: convergent and divergent thinking.

Convergent thinking is focused and goal-oriented. It is suitable for solving problems that have a single correct answer. Most people think in a convergent way most of the time because our schools and workplaces reward people who come up with the one right answer. However, to innovate and create, we need people who can think in divergent ways.

Divergent thinking is more open-ended and exploratory. It is good for solving problems that have multiple correct answers. We often use this thinking in creative professions, where people are encouraged to develop new and innovative ideas.

Both convergent and divergent thinking are essential. The best way to solve a problem is to use both types of thinking together. Start by using divergent thinking to explore different possibilities to develop new and innovative ideas. Then, by using convergent thinking, you can narrow down your options and find the best solution.

Convergent Thinking

Convergent thinking is a problem-solving approach that involves generating one correct solution to a problem and creating action plans.

Characteristics of Convergent Thinking

There are several characteristics of convergent thinking. First, it is logical and systematic. This means that convergent thinkers approach problems step-by-step, analyzing all the data before coming to a conclusion. Second, they are analytical. They like to break down problems into smaller parts so that they can understand them better. Third, they are objective. They make decisions based on facts and data, not emotions or personal opinions. Finally, they are decisive. They know what they want, and they go after it aggressively.

Limitations of Convergent Thinking

While convergent thinking is an important skill, it has some limitations. First, it can be rigid and inflexible. They often have trouble adapting to new situations or changing their minds once they have made a decision. Second, it can be restrictive. They often focus too much on the details and lose sight of the bigger picture. And finally, it can be boring. It can be repetitive and unchallenging, leading to stagnation and a lack of creativity.

Divergent Thinking

Humans need people with divergent thinking skills to create and innovate. Divergents think outside of the box and come up with many possible solutions for a problem instead of one good idea like convergent thinkers do; they explore all angles to find something new or different about any given situation which can lead them down paths not taken by others before - essential if we want our world's progress made quickly enough!

Characteristics of Divergent Thinking

There are several characteristics of divergent thinking. First, it is creative. Divergent thinkers think outside the box and come up with ideas that no one else has thought of before. Second, it is flexible. Divergent thinkers can adapt quickly to new situations and change their minds when necessary. Third, it is open-minded. Divergent thinkers are willing to consider different points of view and explore alternate solutions. And fourth, it is challenging. Divergent thinking can be frustrating because it involves taking risks and stepping out of your comfort zone.

Limitations of Divergent Thinking

While divergent thinking is essential for innovation, it has its own set of limitations. First, it can be disorganized. Divergent thinkers often have trouble staying focused on one task or goal. Second, it can be undisciplined. Divergent thinkers may start projects but never finish them because they get sidetracked easily. And finally, it can be chaotic. Divergent thinking can lead to confusion and may not always result in a clear solution.

Need More Divergent Thinkers

Since convergent thinking is the most common form of thinking, we need to expand our thinking styles by building up divergent thinkers.

The first step in improving your divergent thinking skills is understanding the different types of divergent thinking. There are ideators, connectors, and analogizers. Ideators come up with a lot of ideas, connectors connect ideas, and analogizers see similarities between ideas.

You need to practice and be proficient in all three types to improve your divergent thinking skills.

The Ideator

To be a successful divergent thinker, you need to be an ideator — the ability to generate new ideas constantly. The best way to do this is to have a tool or method that you can use to stimulate your creativity. It can be any process, approach, aid (e.g., card decks), or tool you find helpful in getting your creative juices flowing.

The key is to use the tools to be creative regularly. Don't just use it to develop new ideas for work or school projects. Use it to come up with new ideas for anything and everything. The more you use your ideator skills, the better your divergent thinking skills will become.

There are so many ways that you can improve your ideator skills. One way is to practice brainstorming by identifying a daily object like a ballpoint pen and setting an idea quote (e.g., 25) for how many ways you could improve it. The idea quota forces you to brainstorm various ideas, some of which may be far-fetched and beyond the obvious. Still, the important part is that it gets you into the habit of generating new ideas regularly.

The Connector

The connector skill takes two seemingly unrelated ideas and finds the link. Divergent thinkers need to see the world in terms of connections and can come up with new ideas by linking together different concepts. This results in taking a lot of disparate ideas and finding the common thread that ties them together. The result is ideas that wouldn't have been possible if the thinking was linear.

One exercise is to take a problem you are trying to solve and break it down into different fundamental parts. Then, find as many evident and non-obvious connections between those parts. Then take those connections and use your ideator skills to brainstorm more ideas.

This will force you to see the problem differently and come up with new ideas that might seem random but could lead to an unexpected solution.

The Analogizer

The Analogizer is the skill where someone can see the similarities between wildly different ideas. They can take two seemingly unrelated concepts and mash them up. The result is the ability to come up with new and innovative ideas by finding connections between ideas that don't seem to be related.

For example, it can take two different industries, companies, products, or services and find as many non-obvious similarities and differences as possible. Then take those and use your ideator skills to brainstorm more ideas.

Divergent Thinkers Win

The world is full of convergent thinkers. They are the people who work in corporations, follow the rules, and arrive at a single solution. They are good at following instructions and are often praised for their ability to "stay within the lines." The world also has its fair share of divergent thinkers. They are the people who start businesses, push boundaries, and come up with new ideas. They are often praised for their creativity and innovation.

Divergent thinkers are critical to innovation and progress. Corporations rely on convergent thinkers to maintain efficiency and consistency, but divergent thinkers drive innovation and change. Divergent thinkers can see beyond the status quo and develop new ways of doing things. They challenge the rules and find solutions to problems nobody else has thought of.

Divergent thinkers help businesses stay ahead of the competition by coming up with new ideas that no one has ever thought of before. They help businesses remain innovative and relevant in today's constantly changing world. As a result, businesses that want to succeed must embrace divergence and encourage their employees to think creatively.

Jordi Fernandez, Founder and CEO of BeneTalk, joins the show to discuss the mobile app that provides a community for people who stutter. 

Jordi is a person who stutters and growing up, his parents and teachers didn’t understand how to approach it. At a young age, he engaged in various forms of speech therapy. When he moved from Spain to the UK, his therapy took an alternative approach. It focused on getting him out of his comfort zone and provided him with a community to be a part of. This community focus greatly helped Jordi and inspired him to eventually found BeneTalk. 

The Importance of Community

People who stutter often struggle with social anxiety and other mental health issues. As a result, many choose to limit their speech. In the realm of speech therapy, this is called ‘masking’. Because of this, Jordi says there are a lot more people who stutter than the studies typically show. Having a community that shows it is all right to stutter can make a world of difference. It allows people to embrace their stuttering, instead of running away from it. This is where the BeneTalk app comes into play. The focus is not all on fixing the stutter, but rather on enabling those who stutter to feel more comfortable speaking. This allows them to build confidence and improve their speech over time.

The BeneTalk app

Jordi's vision for BeneTalk was to build a stuttering device similar to how a Fitbit operates. The hardware would be placed on the user’s chest and used daily. When COVID-19 broke out, Jordi and his team decided to pivot to a mobile app. The BeneTalk app allows users to learn about themselves, connect with others who stutter and track their speech progress. The app contains courses on stuttering and teaches speech techniques. The team is currently working on creating personalized speech therapy programs. Additionally, they are building a separate app for parents to help their children. Today, they have around 2,000 monthly users, from 165 different countries. In the future, Jordi hopes BeneTalk can be a digital therapeutics platform utilized by all those who stutter around the world. 

Check out Jordi’s LinkedIn here. 

Check out BeneTalk’s website here. 

About our Guest: 

Jordi Fernandez is the founder and CEO of BeneTalk: a mobile app that combines digital speech therapy and community to help people who stutter, and their families, reduce the negative impact stuttering has on lives. Jordi was born in Barcelona, Spain, and worked as a Chartered Mechanical Engineer in multi-billion-dollar deepwater projects for 15 years in the UK. Jordi is a person who stutters, and in 2021, he quit his job to help millions like himself through BeneTalk. 

Whenever I'm speaking outside of California, I can usually expect an audience question about Silicon Valley. Such as — "What's the secret to Silicon Valley's success?"

After all, this region is home to some of the world's most successful and innovative companies. People want to know what about Silicon Valley makes it so successful, and they're eager to learn any tips or tricks they can use to bring that success to their businesses and regions.

If it were only that easy! The truth is, there's no one secret to Silicon Valley's success. Rather, it's a combination of factors that have come together to create the perfect environment for innovation and entrepreneurship.

History of Silicon Valley

The history of Silicon Valley is fascinating. Before there was Silicon in Northern California, there was agriculture. The first settlers in the area were farmers, and the region was known for its fruit orchards. In the early 1900s, the Santa Clara Valley was nicknamed "The Valley of Heart's Delight" because of its abundant fruit production.

As the century progressed, the Santa Clara Valley became increasingly industrialized. During World War II, the region's companies produced materials for the war effort. After the war, the area's economy shifted to a focus on high-tech. This change was partly due to the presence of Stanford University, which attracted talented scientists and engineers to the area.

Silicon Valley got its name from the silicon chip manufacturers once based there. Several major technology companies in the 1950s and 1960s were founded in Silicon Valley, including Hewlett-Packard. At that time, the area was known for its "startup culture" of risk-taking and innovation, and the region's many venture capitalists fostered it.

In recent years, Silicon Valley has faced some challenges. Economic recession, cost of living, and competition from other regions have led to a decline in the proportional number of startups being founded in Silicon Valley. There have also been several cornerstone companies that have moved their headquarters out of the valley, including; SpaceX, Oracle, and Hewlett-Packard Enterprise. However, the region's culture and philosophy remain strong, and it continues to be a leader in technological innovation, albeit a shrinking leader.

Innovation Culture of Silicon Valley

Silicon Valley is known for creating a regional culture and environment for breakthrough and radical innovations. What are the elements of this regional culture?

Here, failure is seen as an opportunity to learn and grow. The region's many venture capitalists are willing to take risks with new and innovative ideas, and the region's entrepreneurs are eager to experiment and take risks to achieve success. In the valley, securing funding for your next idea after a failure is easier than getting your first round of funding. Why? You learned.

The region is also known for its culture of openness and collaboration. Unlike other business regions where companies compete fiercely with one another and keep everything confidential, in Silicon Valley, it is common for companies to share ideas and resources to create the best products and services possible.

In addition, Silicon Valley is home to some of the world's best universities, which are a source of critical talent and innovation.

Examples of Famous Inventions That Came From Silicon Valley

Over the years, Silicon Valley has produced some of the most groundbreaking commercially successful inventions in history. While most did not originate in Silicon Valley, the willingness to innovate beyond what others are doing has made the region so successful. Here are some examples of famous inventions that came from Silicon Valley:

The personal computer

The personal computer is one of the most famous inventions to come out of Silicon Valley. It was first developed in the early 1970s by a team at Xerox PARC, and it quickly became popular in Silicon Valley thanks to its ability to help people work faster and more efficiently. In the 1980s, Steve Jobs and Steve Wozniak helped to bring the personal computer to the mainstream, and they helped make it into the essential tool that it is today.

GPS

The global positioning system is a technology that has revolutionized how people navigate. Bradford Parkinson, professor of aeronautics and astronautics at Stanford University, conceived the present satellite-based system in the early 1960s and developed it with the U.S. Air Force.

The GPS works by using a network of satellites that orbit the earth. These satellites emit radio signals picked up by receivers on the ground. By triangulating these signals, the receiver can determine its location on earth.

The consumer commercialization of GPS started with Hewlett-Packard's Charlie Trimble. Trimble was an engineer who became interested in using GPS for navigation after getting lost on a hike. Trimble Navigation was founded in November 1978 by Charlie Trimble and two partners from Hewlett-Packard, initially operating above a movie theatre in Los Altos, California.

In the 1980s, the U.S. government allowed civilians to use GPS for navigation, and the technology quickly caught on. Trimble Navigation was one of the first companies to develop consumer GPS receivers.

Over the years, GPS has become increasingly accurate and widespread. It is now used for everything from guiding planes and ships to finding our way around unfamiliar cities. GPS has even found its way into our pockets.

Smart Phones

The first smartphones were developed in the early 1990s. They were large, clunky devices that were not very popular. The Nokia 9300i was one of the first smartphones that gained some traction in the market. It was released in 2003, and it ran on Symbian OS.

In 2007, Apple Inc. introduced the iPhone, which was a game-changer in the smartphone

It was the first smartphone to become a mainstream hit. The iPhone was a revolutionary device because it combined the features of a phone, a computer, and a camera into one small package.

The iPhone was made possible by Silicon Valley's love of innovation and its focus on integrating new technologies with the early failed concepts of others.

Online Search Engines

Given the birth of the internet, the need to organize the explosion of information became critically important. This led to the development of search engines.

While there were many early attempts at organizing the web, the first true search engine was Archie, developed in 1990 by Alan Emtage, then a postgraduate student at McGill University in Montreal, Canada. Archie allowed users to search for files on anonymous FTP sites.

In 1996, Larry Page and Sergey Brin invented a new search engine called "BackRub." BackRub differed from Archie because it used links (backlinks, thus the name BackRub) between websites to measure importance. This algorithm would later become the basis for Google's search engine algorithm.

Google's dominance is because of its superior search engine algorithm, which ranks websites based on their importance and relevance.

Portability of Silicon Valley's Innovation Culture

The secrets to Silicon Valley's success are not that secret. Each element can be easily understood and applied, but what is unique is the combination of all these factors.

What five actions other regions and businesses can and should take away as learnings?

An Attitude of Innovation

Cultivating a culture of innovation with a strong belief that innovations can change the world for the better is essential. This mindset encourages people to dream big.

Encourage creativity and risk-taking

One way to encourage creativity and risk-taking is to create an environment where it not only tolerates failure but embraces and encouraged it. In Silicon Valley, entrepreneurs can experiment with new ideas without fear of reprisal. This allows them to take on risks no other entrepreneur would dream of taking and develop innovative solutions.

Fund and support early-stage startups

One of the critical reasons that Silicon Valley has been so successful is the amount of funding and support available for early-stage startups. This allows entrepreneurs to develop their ideas without fear of financial insecurity.

In addition, several organizations in Silicon Valley provide mentorship, networking opportunities, and funding assistance.

Encourage collaboration

The culture of collaboration is vital in Silicon Valley. Startups help one another by sharing resources and ideas, contributing to their growth and success.

Establishing co-working spaces and incubators is an excellent way to promote collaboration. Co-working spaces allow entrepreneurs to collaborate and share ideas, while incubators provide support and direction for startup businesses.

Develop a strong workforce

Silicon Valley has developed a strong workforce because it has located itself amid leading research universities such as Stanford and the University of California Berkeley. These universities help to cultivate the skills that workers need for jobs in the tech industry.

Businesses and regions can replicate Silicon Valley's success by investing in education and training programs. They should also focus on developing relevant programs for the local economy.

Not All Good

As with any region or industry, Silicon Valley has its share of pros and cons. While it is home to some of the world's most innovative companies and has produced countless technological advancements, some things need to change.

For one, Silicon Valley is incredibly expensive. The cost of living in the area is astronomical, and it is becoming increasingly difficult for young people to afford to live there. In addition, the high cost of housing is causing many people who grew up in the area to be displaced.

Another issue that needs to be addressed is the lack of diversity in Silicon Valley. The tech industry is overwhelmingly white and male, and this needs to change if Silicon Valley continues to thrive.

Finally, Silicon Valley has an attitude of elitist thinking regarding innovation that is not invented there — "Real innovation only happens in Silicon Valley." Innovation with global impact requires collaboration that extends beyond any geographic area. This silicon valley thinking must change if it is going to maintain its position as a world leader in technology and innovation.

Conclusion

The innovation secrets of Silicon Valley aren't that secret. The region has been thriving because it has cultivated a culture of innovation, encouraged creativity and risk-taking, supported early-stage startups, and encouraged collaboration. These are all things that businesses and regions can replicate to achieve similar levels of success.

However, there are some areas where Silicon Valley needs to improve. The region is becoming increasingly expensive and challenging to live in, and it needs to do more to foster diversity within the tech industry. Additionally, Silicon Valley must learn to embrace collaboration with other regions to maintain its position as a world leader in technology.

The first step a region or organization should take is to identify the unique strengths and resources that it has to offer. Once these assets have been identified, a plan can be developed to encourage innovation and entrepreneurship. Any region or organization can achieve Silicon Valley-level success by following these steps.

While I spent most of my career in Silicon Valley, I firmly believe that innovation success can be achieved anywhere in the world. The steps above are not meant to be prescriptive but rather provide a general framework for how any region or organization can encourage innovation. With the right mix of ingredients, any place can experience innovation success.

This is the second interview from my time at the Cable Tec-Expo Show in Philadelphia. Jan Ariesen, the CTO of Technetix, joins us to discuss how his organization’s prioritization of innovation, paired with the right team, helps them solve tomorrow’s problems.

Jan Ariesen of Technetix on Prioritizing Innovation

Engineers typically focus on solving today’s problems but don’t take time to think about tomorrow. Technetix has a reputation for solving tomorrow’s problems that others in the broadband industry don’t think of. Predicting the future is not simple, as you will almost always be wrong. Technetix empowers its employees by giving them the freedom to predict the future without fearing failure. Jan said that most of their ideas at Technetix fail, and only a few succeed. This is simply the nature of innovation. For example, it took the engineers at Technetix five years to develop a new style of broadband amplifier. While everyone told them it was impossible, they are now building amplifiers that can do 1.8 gigahertz. Technetix pushes its people to “make decisions” from the top down. People in the innovation space often get hung up on analysis and allow the fear of failure to overcome them. Organizations with a heavy experimentation culture give their people the tools they need to make game-changing innovations. 

Hiring the Right Team

When Jan is conducting interviews for engineers, he looks for two key attributes. He always asks specific questions to those he interviews. “If your bike got a flat tire, would you go to the shop or fix it yourself?”. If the interviewee says they would take their bike to the shop, then he says they are not an engineer. True engineers want to understand things and desire to solve them. They have an unconventional way of thinking that others do not possess. Jan also looks to hire those that are team players. These people will help others and learn from them along the way. People often overlook the importance of collaboration and cooperation and overemphasize technical skills. You can always teach the technical, but you can’t teach the attitude and mindset.

Check out Jan’s LinkedIn here.

Check out Technetix’s website here.

About Our Guest: Jan Ariesen

Jan Ariesen is an experienced engineer with 30+ years of broadband cable TV design experience. He leads the CTO, Marketing, R&D, and QA teams at Technetix. Before 2008, Jan was the VP of Engineering, leading teams in the UK, Belgium, and the Netherlands. His teams were responsible for researching, developing, and inventing new products and technologies. Jan joined the Technetix board in 2018.

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What is future literacy? Future literacy is the ability to look at the world and understand how it will change in the future. This can be a valuable skill that historically has not been on most people's radar screen.

Most people don't think about the future much. We focus on the present, and when we think about the future, it is usually what we want it to be. However, if we want to be ready for the future and take advantage of its opportunities, we need to start with our future literacy.

Future literacy is about imagining the world 25, 50, or even 100 years from now and then looking back (backcasting) to today and making decisions accordingly. It is not about predicting the future but understanding the trends and influencers shaping it.

What Changes Should We Watch?

The world is constantly changing. New technologies, economic shifts, and social movements are just a few of the things that can cause dramatic change. By paying attention to them, we can get a glimpse into the future and start planning for what's to come.

Some areas that are worth researching include:

Technology:

What new technologies are on the horizon? How will they change the world around us?

We are seeing new technologies emerging all the time, impacting our lives. For example, the internet has completely transformed how we play, live, and work. It has enabled us to connect with people worldwide and given us access to the information we would never have had before.

New technologies are also changing the way we interact with each other. Social media platforms like Facebook and Twitter are giving us new ways to communicate and connect with others. We are also seeing new technologies that are changing the way we live our lives, such as driverless cars and robots.

As these technologies continue to develop, they will significantly impact our lives. It is crucial to stay up-to-date with the latest developments to understand how they will affect the world around you.

Social Change:

What social changes are happening now that will impact the future?

It is essential to be aware of the social changes that are happening so that you can adapt to them—for example, the rise of the gig economy and automation.

The gig economy is a new way of working that is becoming increasingly popular. People are increasingly choosing to work freelance or on a contract basis instead of full-time.

The rise of automation is another. With advances in artificial intelligence and robotics, we are seeing more and more jobs being replaced by machines. This is having a growing impact on the way we will work in the future.

Economic Change:

What economic changes are happening now that will impact the future?

Economic changes will have a significant impact on the future. For example, the rise of nationalism and protectionism is already impacting the global economy.

As countries and regions close their borders to immigration and limit trade, the global economy becomes increasingly fragmented. This will negatively impact the global economy, slowing economic growth and leading to more conflict.

Environmental Change:

What environmental changes are happening now that will impact the future?

Several environmental changes are happening. For example, climate change already has a significant environmental impact and is expected to cause even more damage.

Other environmental changes include biodiversity loss, air pollution, and water shortages. These issues will have a significant impact on the environment and the way we live our lives.

Taking Action

It is crucial to be proactive about the future and not be a passive participant in it. We need to take action now to make sure that we not only adapt to the changes happening but also decide to influence the future we will leave behind. If we don't, we risk letting the future be dictated to us.

One way that we can take action is by improving our future literacy. This means staying up-to-date with the latest technological developments, social change, economic change, and other areas of influence that will impact our future. By understanding these changes, we can ensure that we are prepared for the future.

Another way we can take action is by ensuring that we are involved in shaping the future. This is a role that is made for innovators like you and me. We can do this by voting, campaigning, and speaking out about the issues that matter to us. We need to make our voices heard so that we can shape the world.

The future is happening now, and we must ensure we are prepared for it. By taking action now, we can ensure that we have a bright future to look forward to.

Step 1 is to improve your innovation literacy.

The Benefits of Improving Future Literacy

There are many reasons it is vital to improving your future literacy. Some of the most important are:

1.      It can help you make better decisions today.

Making decisions today is critical to shaping your future. By thinking ahead and considering the possible implications of your decisions, you can make choices today that are more likely to lead to a desirable outcome. Future literacy can help you make better decisions by enabling you to understand, think critically about, and respond to future challenges and opportunities.

2.      It can help you identify potential opportunities and challenges that may arise in the future.

Future literacy enables you to identify potential futures and assess the associated risks and opportunities. This information can be helpful when making important decisions, such as what career to pursue or products to buy. When you have a better understanding of the potential consequences of your actions, you are more likely to make informed decisions today that will benefit you in the long run.

3.      Help you develop a more global perspective.

When you have a better understanding of the consequences of your actions, you can make informed decisions that consider the needs of people from all corners of the world. This expanded perspective better equips you to understand the tradeoffs of each decision and its effect on people from all over the world.

4.      Equip you to communicate better about future-related topics.

Having a sound foundation in future literacy can help you communicate more effectively when discussing future-related topics. You better understand the concepts being discussed and can ask questions that will help clarify any uncertainties. By having a solid understanding of future-related topics, you can share your knowledge and expertise with others and help educate them about the potential implications of the decisions being made.

5.      Improve collaboration with others to create better future solutions.

When you can think about the future and understand the implications of decisions made today, you are in a better position to collaborate with others to create solutions. You can bring your unique perspective to the table and contribute to finding creative solutions that consider the needs of all involved. Additionally, by being future literate, you can help others to see the potential implications of their actions and encourage them to consider the long-term impact of their decisions.

6.      Help you make the world a better place.

When you have a strong understanding of future literacy, you can think about the long-term implications of decisions. This helps you make informed choices that consider not only your own needs but the needs of others. Additionally, you can help to educate others about the importance of thinking about the future and making decisions that will benefit us all in the long run. When everyone makes choices with the future in mind, it can help create a brighter future for all.

5 Habits to Improve Your Future Literacy

Several habits will improve your future literacy. These include:

1.      Reading articles and books about the future.

Reading articles and books about the future gives you a deeper understanding of the concepts involved. This will help you apply future literacy in your life.

2.      Watching documentaries about the future.

Watching documentaries about the future can help improve your understanding of what life could be like. By seeing how experts think about the future and what they believe may happen, you can gain a better perspective on the range of potential futures.

3.      Taking online courses about future literacy.

There are many online courses available that can help you learn more about future literacy. These courses often provide a more in-depth look at the concepts involved.

4.      Participating in discussion forums about the future.

Discussion forums are a great way to connect with others interested in discussing the future. You can better understand different perspectives by sharing your thoughts and ideas with others.

5.      Researching specific topics related to the future.

If there is a specific topic related to the future that interests you, research it! This can be helpful when discussing future topics with others or applying them to your work.

What Should You Monitor?

When thinking about the future, there are a few key things that you should pay attention to. I use tools like Google Alerts and Feedly to help me keep track of essential topics, companies, and industries I want to know more about. You can also use social media to follow experts in the field and get their take on current events.

The three areas I would recommend you start monitoring immediately include the following:

The accelerating pace of change:

It is hard to overstate how fast the world is changing. We are seeing exponential growth in many areas, including population, technology, and information. This growth is causing unprecedented change and upheaval.

Increased global interconnectedness:

The world is becoming more connected every day. This interconnectedness is causing new problems and opportunities. With the internet and social media rise, we are seeing a global village emerge.

The rise of artificial intelligence:

AI is poised to change the world in ways we can't imagine. It is already starting to transform industries and will soon impact our economy and way of life.

Conclusion

Future literacy is essential because it helps you to understand and make decisions about the future. It can be challenging to keep up with the rapidly changing world, but by monitoring key areas and staying informed, you can improve your chances of success. The future is unpredictable, so always preparing for anything is essential. With a solid future literacy foundation, you can face whatever comes your way head-on!

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Matt Greeley, the Founder and CEO of Brightidea, joins The Killer Innovations Show to discuss the launch of their new idea incubation tool, BrightIdea Memo.

Matt has been involved in idea management systems (IMS) since their early days. In 2005, BrightIdea launched the first-ever online innovation platform. During my time at HP, I worked with Matt on the earlier versions of Brightidea while they serviced us. At CableLabs, where I am now CEO, we have been utilizing Brightidea for almost a decade. Brightidea acts as an innovation pipeline platform, similar to how Salesforce is a sales pipeline platform. The platform’s goal is to improve the efficiency and effectiveness of an organization’s innovation process, leading to financial impact. Since innovation tends to be messy, having a non-restrictive tool at your disposal is essential.

Executives and IMS

In the past, most executives did not understand the true value of a tool for ideas. With today’s fast innovation pace, leaders are tasked with even more challenges. Due to constant disruption, many executives are now recognizing the importance of innovation. Idea Management Systems (IMS) have transformed from simply capturing ideas to helping organizations find ideas with the highest value. It’s all about taking an idea and identifying how to mature it.  

Long-form Narrative Ideas

Amazon no longer uses PowerPoint to present ideas to executives. Jeff Bezos swapped out PowerPoint for six-page memos. These memos get sent out to the executives before each planning meeting. At CableLabs, we have also banned PowerPoint. This helps executives avoid wasting time learning about ideas during meetings. Narrative writing utilizes a process I like to call backcasting. You write things backward, starting with the launch date, using a press release. The press release puts the customer first by focusing on how they would view the solution. A core benefit of this practice is organizational alignment. Long-form narrative writing gets the entire organization involved in the visioning exercise from the start. This provides a much broader ecosystem of input. 

The Launch of BrightIdea Memo

BrightIdea Memo is a tool that sets up teams for long-form narrative writing around an idea. The platform acts as a home for outside-the-box projects that still need to incubate. You can start with a blank document or use a press release template. The tool allows for collaboration, has AI writing software, and sports a peer review function. Brightidea Memo guides users to get their 6-page memo actionable and ready for executives. 

Check out Brightidea Memo at Brightidea’s website here. 

About our Guest: Matt Greeley

Matt Greeley is the Founder & CEO of Brightidea, the global leader in On-Demand Innovation Pipeline Management (IPM) software. Previously, Matt consulted for Wrenchead.com and co-founded Silicon Valley enterprise software provider Alyanza Software, which Niku acquired. Matt has a Degree in Computer Engineering from Stevens Institute of Technology and studied Creativity and Marketing at Stanford University.

We kick off a new series of interviews from my time at the Cable Tec-Expo Show in Philadelphia. Hanno Narjus, the SVP of Video and Broadband Solutions at Teleste, joins us to discuss innovation efforts from the European to the U.S market.

Cable Tec-Expo Show

Due to COVID-19, many of us missed out on various events. It was great to experience the high energy levels at the expo as everyone was finally in 3D. Seeing cable products coming to life, especially around 10G, brought excitement to everyone in attendance. 

Hanno Narjus of Teleste on European Innovation and Nokia

Hanno is based out of Helsinki, Finland. Helsinki has an excellent reputation as a hub of European innovation, specifically through the impact of companies like Nokia. When Nokia shut down, hundreds of thousands of people spread to different companies and industries across Finland. The country's innovation culture was transformed as people brought their global perspectives and experiences to various places. 

The Cable Industry's Secret Weapon

As Hanno brings his innovations from Europe to the U.S, he faces many challenges. Throughout history, many of the greatest innovations have come from the U.S. While challenges exist, the cable industry's culture has bridged many gaps. From Hanno's perspective, the U.S has a welcoming and appreciative culture around innovation and ideas. There is an open culture of sharing ideas and innovations in the cable industry, which Hanno loves. This collaborative environment is truly the secret weapon of the cable industry.   

The Importance of Innovation Processes

Hanno says his organization has a process of innovation while still encouraging people to think outside the box. I would argue that having an innovation process is essential. While the process is necessary, it is vital to avoid locking that process. You must constantly innovate the way you innovate, just as you innovate your business processes and services. 

Hanno's Advice for the listeners

For those who have ideas within their organization, be passionate and patient. Believe in what you have, but don't immediately go to the top with your idea. Build a group around you who can be opinion leaders that will back you up once you gain some momentum and have created a support system. Run with it. 

About our Guest: Hanno Narjus

Hanno Narjus is the Senior Vice President of Video and Broadband Solutions at Teleste Networks. He has more than 30 years of experience in the ICT sector, including mobile communications, fixed broadband, and cable networks. Hanno has held several managerial positions in the telecommunications industry and spent ten years of his career at Nokia. He holds a Master's degree in economics from the University of Tampere in Finland.

In an age where the latest and greatest technology is just a click away, it's easy to become an imitator. We see something new and want it without considering whether we really need it. We buy into the hype without stopping to think about the implications of our purchase. Before we know it, our homes are cluttered with gadgets and devices that we never use and don't need.

But there's another side to this story. Some people see the world around them and find ways to improve on what they see. They are innovators—always looking for new ways to solve old problems, to make things faster, easier, and more efficient. Trends or popular opinion do not sway them; instead, they rely on their intuition and creativity to drive their innovation.

What is the difference between an innovator and an imitator?

There is a big difference between innovators and imitators. Innovators are people who see the world around them and find ways to improve on what they see. They come up with new ideas and solutions to old problems. Imitators follow the trends and popular opinions of the day. They are not creative or intuitive; instead, they rely on others to tell them what to do.

Innovation is key to progress. It is innovators who come up with new technologies, new products, and new ways of doing things. Without innovators, we would still be living in the Dark Ages. Imitation may be the sincerest form of flattery, but it will never lead to progress. If we all followed the trends, we would never make any real advancements as a society.

How can you tell if you are more of an innovator or imitator yourself?

The truth is, everyone is a mix of both innovators and imitators. We all have our moments of creativity and our moments of imitation. But some people are more inclined to be innovators, while others are more inclined to be imitators.

So how can you tell if you are more of an innovator or more of an imitator? The best way to figure this out is to look at the different areas of your life. Are you more creative and intuitive in your professional life, or are you more likely to follow your boss's lead? Are you more adventurous and daring in your personal life, or do you prefer to stick to the status quo?

I've built my career around innovation and focused it on my professional life. For those that know me, my personal life is very uncreative and traditional. I'm not an innovator in my personal life, which surprises people because of my high-profile innovation work. It's not that I can't be creative in my personal life. It's just that I don't have the same focus on innovation.

Do you have to be an innovator in all areas of your life to be successful?

No, you don't have to be an innovator in all areas of your life to be successful. You can be successful as either an innovator or an imitator. It all depends on what you want to achieve in life.

Understanding whether you are more of an innovator or more of an imitator can help you become a more well-rounded person. It can also help you better understand your strengths and weaknesses.

What are some examples of famous innovators and imitators throughout history?

Innovation and imitation are two essential aspects of success in any field. Both approaches have advantages and disadvantages, and both can be successful.

Famous innovators throughout history include Thomas Edison, who invented the lightbulb, and Alexander Graham Bell, who created the telephone. These men were able to change the world with their inventions, and they opened up new possibilities for everyone. They were innovators because they came up with new ideas and worked hard to make them a reality.

There have also been many famous imitators throughout history. One example is Johannes Gutenberg, who invented the printing press. He was not the first person to come up with the idea of printing books, but he improved the process and made it more efficient. This made it possible for books to be printed on a large scale, which helped spread knowledge around the world.

Another famous imitator is Leonardo da Vinci, an expert painter, sculptor, and architect. He copied the work of other artists and improved upon it, making his paintings and sculptures some of the most famous in history. He learned from others and became one of the most accomplished artists of all time.

Both innovators and imitators have had a significant impact on society. Innovators have changed how we live our lives, while imitators have helped spread knowledge worldwide. Neither approach is better than the other; both contribute to progress.

How do you think the world would be different if there were more innovators and fewer imitators?

The world would be very different if there were more innovators and fewer imitators. We would see a lot more creativity and progress if there were more innovators. Innovation drives change; without it, the world would be stuck in a rut.

Imitation is the sincerest form of flattery but can also hold back progress. There is no incentive to develop new ideas when everyone is copying each other. This can lead to stagnation rather than growth. Imitators may be happy with the status quo, but innovators always look for ways to improve things.

The world needs innovators and imitators, but we need more innovators to see real progress. We need people willing to take risks and think outside the box. We need people who are not afraid to challenge the status quo and develop new ideas.

A Society of Imitators

In today's society, it is easy to be an imitator. With the internet at our fingertips, all it takes is a quick Google search to find out what others are doing and how they are doing it. This has led to a society of people who are quick to imitate others without putting in the time and effort to develop their ideas.

One example of this is the way that we consume media. We are quick to watch the latest movie or TV show that is popular without taking the time to see if there are any other options out there. We also tend to follow the latest trends without asking ourselves if they suit us. This can be seen in the way that we dress, the way that we eat, and even the way that we spend our free time.

Another example of this is the way that we do business. We are quick to adopt new technologies and methods without taking the time to see if they will actually work for us. We also tend to copy the business models of others without putting in the time and effort to come up with our ideas. This can be seen in the number of businesses started every day that are copies of what others are doing, many of which fail within their first year.

The bottom line is that, in today's society, we are too quick to imitate others. We need to take the time to come up with our ideas and put in the effort to make them work.

So what?

Imitation may be easy, but being an innovator is not. It takes hard work and dedication to develop new ideas and solutions. Innovators are the ones who change the world, and they are the ones who we should look up to.

So why should you be an innovator? First, innovation is essential for growth. If you want your business to thrive, you need to be constantly coming up with new ideas and solutions. Second, innovation is necessary for progress. Without innovators, our world would be a far less advanced place.

So how can you become an innovator? The first step is to start thinking for yourself. Don't just imitate what others are doing; come up with your ideas and solutions. The second step is to be creative. Allow yourself to be open to new possibilities and think outside the box. The third step is to be persistent. Please don't give up on your ideas; see them through until the end. And finally, the fourth step is to be passionate. Be passionate about your work and about changing the world for the better.

Final Word

Innovation and imitation are two sides of the same coin; they both have their place in the world. Just as a coin has two sides, so does innovation have its imitators and vice versa. As an innovator, you should be proud of your work, knowing that you are adding value to the world. And as an imitator, you should be humble, knowing that you are building on the work of others. Both innovators and imitators are necessary for progress. So which one are you?

The statement "what is now proved and commonplace was once just imagined" is powerful. It speaks to the idea that anything is possible if we put our minds to it. And it's true - many things we now take for granted were once just ideas or dreams.

For example, consider the internet. It's hard to imagine our world without it, but it was once just a concept that people talked about in science fiction novels. Or consider the airplane - that too was once just an idea. People laughed at the thought of flying through the air.

So what does this mean for us? Some would say that we can make something happen if we can imagine something.

The question I want to dig in on is the idea of the imagination of others inspiring innovation. Do we ever truly have ideas that are not inspired by others?

It seems that every idea we have is in some way influenced or inspired by something or someone else. We take information from the world around us and process it in our minds to develop new ideas. But where do those ideas come from? Are they truly original?

It's an interesting question to ponder. And it does not have a clear answer. But I think it's important to consider because it shows how interconnected we are. We may not realize it, but the people and things around us are constantly influencing us. And in turn, we influence others with our ideas.

What is Inspiration?

When most people think of the word "inspiration," they probably think of artists or musicians. Someone who is inspired is filled with ideas and creativity and can bring those ideas to life.

But inspiration can come from anywhere. It can come from a painting, a song, a movie, or even just a conversation. Anything that touches our hearts or minds can spark inspiration in some way.

And that's what makes it so special - inspiration is personal and unique to each individual. What inspires one person may not inspire another person at all.

So what exactly is inspiration? I like to think of it as a lightbulb moment. It's that moment when an idea pops your head, and you suddenly see things differently. You have the power to change things, to create something new and amazing.

For me, inspiration is about the possibility. It's about seeing the potential in everything and believing that anything is possible. When I'm inspired, I feel like I can do anything. And that feeling is incredibly empowering.

Is Imagination The Same As Inspiration?

What is the difference between imagination and inspiration? Imagination seems more about creativity and dreaming, while inspiration seems more about bringing those dreams to life. Imagination is about possibilities, while inspiration is about actualization.

Imagination can be a powerful tool, but it must be combined with hard work and determination to become a reality. Inspiration is what gives us the motivation to turn our imaginations into reality.

I think of inspiration as the light that guides us from imagination to reality. It's that voice inside us that tells us we can do it, encouraging us to keep going when we feel like giving up. And it's a force that can't be denied - once we're inspired, nothing can stop us from achieving our goals.

So what is inspiration? I like to think of it as the bridge between imagination and reality. It's the thing that makes our dreams a reality. And it's a power we all have inside us - we need to learn how to access it.

The Imagination of Others as Inspiration

Our world is constantly changing and evolving. Much of that change is due to the innovations of today's generation. But where do those innovations come from? Many of them come from the imagination of others.

The imagination of others has been an inspiration for centuries. It has led to the creation of new technologies, medicines, and even entire civilizations. And it's a power we all have access to - we must learn how to tap into it.

The people who have inspired me most are the ones who never gave up on their dreams, even when things were tough. They were the ones who refused to let their imaginations die. And their passion and determination were infectious - they encouraged me to keep going no matter what.

So what is imagination? I like to think of it as the gateway to possibility. When we tap into our imaginations, anything is possible. We can create anything we want - our imaginations only limit it.

And that's why imagination is so important - because it allows us to dream big, to see the world in a new way. To imagine a future that does not yet exist.

The Imagination of Science Fiction Writers

Science fiction writers help us to see the world in a new way and dream big. They have always been at the forefront of imagining new worlds and technologies. From early works like Mary Shelley's Frankenstein to modern classics like 1984 or Minority Report, science fiction has given us a glimpse into the future. And while some of their predictions have come true, others still seem like far-off dreams.

But that's the beauty of science fiction—it allows us to stretch our imaginations and explore what could be. It helps us to question the status quo.

For example:

Science fiction is more than just entertainment; it's a way of viewing the world differently. It challenges us to think about what could be and inspires us to turn those dreams into reality. So the next time you feel stuck, pick up a science fiction book and let your imagination take off. Who knows—you might just come up with the next big thing.

The Imagination of Children

Children are some of the most imaginative creatures on earth. They see the world in a completely different way from adults. And their imaginations are always running wild.

In many ways, children are the perfect inspiration for us. They remind us to dream big and never give up on our goals. They show us that anything is possible.

I am always amazed by how many ways a child can turn a toilet paper roll into a toy. Or how they can turn a cardboard box into a fort. And their creativity is not just limited to physical objects - they can also create entire worlds in their minds.

When we were children, our imaginations were unlimited. We saw the world as a place of possibilities. But as we grow older, we start to lose that childlike imagination. We become more realistic and grounded in our thinking.

It's not that we stop dreaming altogether - it's just that our dreams become smaller and more attainable. We no longer believe that we can achieve anything we set our minds to.

But what if we could recapture that childlike imagination? What if we could learn to dream big again?

It's not as impossible as it sounds. We can all learn to tap into our imaginations again with a little effort and practice.

How? By hanging out with children and letting their imagination inspire us. And while their imaginations might seem silly or far-fetched to us, they often contain the seeds of great ideas.

The Bottom Line

Imagination is a powerful tool we can all use to achieve our goals. It's the bridge between our dreams and reality. And it's a force that can change the world. So never let your imagination die - keep dreaming big and never give up.

Most people would consider random events a nuisance that gets in the way of their productivity and disrupts their carefully planned lives. However, looking closely, you'll see that random events can be a source of inspiration and innovation.

For example, consider the story of how Facebook was created. According to legend, Facebook was born out of a random event - when Mark Zuckerberg was working on a project for his fraternity, he needed to find a way to get online access for all the members.

Another famous example is the story of Apple co-founder Steve Wozniak. While working at Hewlett-Packard in the 1970s, Wozniak came up with the idea of what eventually became the Apple computer after he attended a random seminar.

So why are random events so inspiring? Part of it concerns that they're unexpected - they catch us off guard and force us to devise new solutions. They also give us a fresh perspective, allowing us to see old problems in a new light. Finally, random events can help us break out of our comfort zone and spark creativity and innovation in ways we never thought possible.

Are Random Events Random?

Are random events random? This question has puzzled philosophers, scientists, and mathematicians for centuries. Some people believe everything in the universe is random, while others believe there is a hidden order behind random events.

Interestingly, recent research has shown that random events may not be as random as think. In a study published in Nature journal, scientists found that random events follow specific patterns and are not entirely random.

This discovery is important because it also opens up new possibilities for using what we think of as random events to inspire creativity and innovation. How? That's still something that scientists are trying to figure out.

The bottom line is that random events are still a mystery - no one knows what causes them or what they mean for innovation. However, they remain an essential source of inspiration and creativity, and scientists will continue to explore their mysteries in the hopes of unlocking their secrets.

Being Aware of Random Events

Random events can be a great source of inspiration for innovators, but it's essential to be aware of them and understand their potential. Here are some tips for how to do that:

1. Be open to new ideas.

When it comes to random events, you never know what might happen. That's why being open to new ideas and possibilities is so important. You'll miss many opportunities if you're permanently closed off to new experiences.

Being open to new ideas means being open to change. It can be scary, but embracing change can lead to amazing things. When you're open to new ideas, you're also more open to new experiences, which can only lead to good things.

So don't be afraid to try something new. Open your mind and see what happens. You might be surprised at what you find.

2. Stay curious.

Curiosity is the lifeblood of creativity and innovation. By staying curious, we keep our minds open to new possibilities and allow random events to lead to new insights and perspectives. Staying curious also breeds a sense of exploration and excitement, which are essential for keeping our creative juices flowing. So if you want to be more creative, stay curious!

3. Pay attention to your surroundings.

When we pay attention to our surroundings, we open ourselves up to random events and their possibilities. Knowing the people and environment around us can create opportunities for new experiences and friendships. In addition, paying attention to our surroundings allows us to be more present at the moment and appreciate all that is happening around us.

4. Be patient.

Being patient is key when waiting for random events to happen. Sometimes they happen right away, but other times they take time to develop. You never know when the perfect opportunity will come along, so it's essential to be patient and wait for the right moment. When inspiration comes randomly, it's often the most powerful and meaningful. So don't be discouraged if things don't happen immediately - keep waiting and be patient for the next great spark of inspiration.

5. Be creative.

Random events can offer limitless opportunities for creativity and inspiration if you look for them. When something random happens, it's often a sign that something new is also about to happen. Be open to the possibilities and see where the random event takes you. Don't be afraid to experiment or try something new - that's where the real magic of random events can be found. Let your creativity run wild, and see what amazing things you can come up with. The sky is the limit!

Warning: Random Events Are Not Signs

Some people might see random events as signs or omens.

Some will use a random event to confirm an idea or innovation they are working on.

This confirmation bias is the tendency only to believe information that confirms our preexisting beliefs or desires. This can be dangerous when it comes to random events and innovation, as it may tempt us to ignore or misinterpret random events that don't conform to our preconceived notions.

This can lead to faulty ideas and solutions and lead us down blind alleys. It's important to be aware of confirmation bias and its dangers and always to be open to new information - even if it contradicts our existing beliefs.

The Internet Was Born Out of Randomness

In the early 1990s, Silicon Valley was amidst a major random event - the rise of the internet. This unexpected event led to the development of countless new products and services, including some of the most well-known and successful companies.

The internet was born out of random chance - a series of random events coinciding at the right moment. These random events included the invention of the World Wide Web, the spread of personal computers, and the growth of digital networks.

These random events came together at just the right time to create something extraordinary - a new way for people to connect and share information. The internet has since changed the world, and there's no telling what else it might bring us in the future.

Like Chocolate?

Random events are like a box of chocolates - you never know what you're going to get.

When it comes to random events, you never quite know what will happen. They can be exciting and full of surprises, or they can be unpredictable and frustrating. But that's part of the fun - random events are always an adventure. So go ahead and take the plunge. Life is more interesting when we experience random events.

Next time you encounter a random event, don't be annoyed - embrace it! See it as an opportunity to think outside the box and develop something new and innovative. Who knows - your next big idea might just come from a random event!

Innovation can be classified into two main types: disruptive innovation and radical innovation. Disruptive innovation is an idea that improves upon an existing market by exceeding the needs of a customer base, eventually displacing the old market. Radical innovation destroys the current market and value network, creating an entirely new one.

Another way to think about it is that radical innovations challenge the status quo and create something new. Disruptive innovations are those that make an existing product or service obsolete.

Many believe that both disruptive and radical innovation result from chance or luck. However, there is a lot of evidence to suggest that they result from a specific mindset and approach to problem-solving.

So, what is the secret to consistently creating disruptive and radical innovations?

What is Disruptive Innovation?

There are a few key things to keep in mind when creating disruptive innovations. First, it's essential to understand the existing market and value network. Next, you need to identify gaps or shortcomings in the current market. And finally, you need to create something that fills that gap and provides more value than is currently available.

Several famous examples of disruptive innovations, such as the iPhone, disrupted the existing smartphone market by offering a better user experience and more features than the competition. Uber also disrupted the taxi industry by providing a better and more convenient alternative to traditional taxis.

Creating Disruptive Innovation

So how can you create your disruptive innovation? Here are a few tips:

1.     Study the existing market and identify any gaps or shortcomings.

It's no secret that to create disruptive innovation, and you need to do your research and understand the marketplace inside and out. By doing so, you can identify any gaps or shortcomings and work to fill them with your new product or service. Only then will you be able to identify any opportunities for change and capitalize on them.

2.     Identify any potential opportunities or weaknesses in the current market.

Opportunities and weaknesses can lead to disruptive innovation in a variety of ways. For example, an opportunity may present itself for a new type of business to enter the market, disrupting the status quo. Alternatively, a weakness in one market area may open a new competitor to emerge and take market share.

Either way, it's essential to keep an eye out for opportunities and weaknesses to be prepared to capitalize on them (or defend against them) if they arise. Doing so can help you stay ahead of the competition and achieve disruptive innovation.

3.     Prototype your idea and get feedback from potential users or customers.

Prototyping is essential to creating disruptive innovation. By testing out your idea and getting feedback from potential users or customers, you can determine whether there is demand for your product or service and make necessary adjustments before investing too much time and money into development.

Feedback from early adopters can be especially valuable in helping you gauge interest and determine what features or aspects of your prototype are most appealing (or not).

4.     Launch your product or service and continue to improve and refine it based on feedback from users/customers.

Launching your product or service is one of the most critical steps. It allows you to get feedback from users and customers, which can help you improve and refine your product or service. This process enables you to create a product or service that meets the needs of your target market, which can lead to tremendous success.

Of course, there is no guaranteed formula for success, and it's possible that your innovation may not be as successful as you hope. However, following these tips increases your chances of creating a disruptive innovation that could change the world.

What Is Radical Innovation?

Radical innovation is about doing things differently to create something new and better. It can be a change to how you do things or a completely novel approach no one has ever tried. Whatever it is, it needs to be something that makes a real difference.

There are countless examples of radical innovation. Here are three:

Google's Search Engine

When Google launched its search engine in 1998, it was a radically new way to find information online. Before Google, the only way to find information online was by using directories such as Yahoo! or browsing through websites. Google's search engine changed that by allowing users to type in keywords and find relevant results instantly. This breakthrough helped make Google the world's most popular search engine.

Tesla's Electric Cars

Electric cars have been around for a long time, but Tesla's Model S was a game-changer. It was the first all-electric luxury car, showing that electric vehicles could be just as good—if not better — than gasoline-powered cars. Tesla's electric cars have helped change people's thoughts about transportation and spurred other companies to develop their electric car models.

SpaceX's Reusable Rockets

SpaceX, a private space company, founded by Elon Musk, has developed a new type of rocket that can be reused. This is a breakthrough because it significantly reduces the cost of space travel. SpaceX's rockets are helping to make space exploration more affordable and accessible, which could lead to significant advances in the field.

As you can see, radical innovation can come in many forms. All these examples have in common that they represent a significant change from the status quo. If you want to create radical innovation, you need to think about ways to do things differently and make a real difference.

Creating a radical innovation is no easy feat, but it's possible. Just look at the examples above. If they can do it, so can you.

Creating Radical Innovation

So how do you create radical innovations? Here are a few insider secrets to creating radical innovations:

1.     Embrace Failure

One of the most important things you need to do to create a radical innovation is to embrace failure. Failure is inevitable when you're doing something new and different. You're going to make mistakes, and that's okay. What's important is that you learn from those mistakes and keep moving forward.

2.     Start with a clean slate.

That means forgetting everything you know about the status quo and imagining something new. It means having the courage to think big and challenge the status quo. It means having the humility to listen to others and learn from them. And it means recognizing that no one has all the answers but that we can find them together if we're willing to continue learning and growing.

3.     Have a vision for what could be.

This vision needs to be so compelling that it inspires people to take action and make the vision a reality.  A good vision should be clear, achievable, and inspiring. It should also be specific enough to guide the actions of those working to achieve it.

Once you have a clear vision for what you want to achieve, you can start putting together a plan to make it happen. This plan should outline the steps you need to take to achieve your vision.

4.     Be Willing to Take Risks

To create a radical innovation, you must be willing to take risks. This means being okay with the possibility of failure. You need to be comfortable with uncertainty and not be afraid to try something new.

5.     Apply Box Thinking

To succeed at creating a radical innovation, you must apply box thinking (inside and outside of the box). This thinking means looking at things from a different perspective and seeing things in a new light. It's about thinking of new ways to create something unique.

6.     Be Passionate

Creating a radical innovation takes a lot of hard work and dedication. It would be best if you were passionate about what you're doing to see it through. If you're not passionate about your idea, it won't be easy to succeed.

7.     Believe in Yourself

Creating a radical innovation is not easy. There will be times when you doubt yourself and your ability to succeed. It's essential to believe in yourself and your idea. Remember why you're doing this, and don't give up.

Conclusion

Of course, not every radical innovation is a success. Many startups and businesses have tried something new, only to fail miserably. But that's okay — it's part of the process. Those who are willing to take risks and push boundaries ultimately create the most significant changes and make the biggest impact.

So if you're feeling adventurous, don't be afraid to try something new. There's no guarantee of success, but you may create something incredible.

Science is a powerful tool. It can change the world, improve our understanding of our universe, and help us find new and innovative ways to solve problems. But science is only as good as the data it uses, and bad science can lead us astray.

Over the last few years, I've written several articles and recorded a similar number of podcasts on ethics related to innovation. Just as this is titled Bad Science, we could have titled it Bad Innovation.

In this episode, we explore how to determine whether the science you are reading is accurate or not.

The inspiration for this episode came from an infographic created by Compound Interest (compoundchem.com). I've taken the list of ways to spot bad science and created my descriptions with examples — but all credit goes to @compoundchem.

12 Ways To Spot Bad Science

There are many ways to identify bad science studies and articles that publish the results, but here are twelve of the most common. You can protect yourself from being misled by being aware of these red flags.

1)     Sensationalised Headlines

Sensationalized headlines can be incredibly misleading. They often over-simplify the findings or, worse, misrepresent them entirely. Misinterpretation can lead to bad decision-making on the reader's part and ultimately negatively impact.

It's essential to be discerning when reading science articles and always to consider the source of information. Reputable sources always aim to present accurate information, while less reputable sources may sensationalize information to get more readers/viewers. In the long run, this can muddy the waters and make it more difficult for people to discern what is true.

An example of a misleading sensationalized headline would be the article "A New Drug Can Cure Alcoholism," published by The Sun. The report claims that a new drug called Selincro can "cure" alcoholism, but this is not the case. Selincro is for alcohol dependence, not alcoholism, and it does not cure addiction.

2)     Misinterpreted Results

Misinterpreted results can often lead to bad science and innovation. Research in the media can be sensationalized or simplified in a way that distorts the actual findings. Simplification can lead to poor decisions being made based on inaccurate information. Therefore, reading the original research to understand what was studied is essential. Only then can informed decisions be made about whether the findings apply to your work.

One example of misinterpreted results would be the oft-cited study that claimed eating chocolate can help you lose weight. Later found to be flawed, and the author had to retract his findings.

3)     Conflict of Interest

Science often thought of as a purely objective pursuit, is unaffected by the biases and motivations of the people involved. However, scientists are people, and their interests and agendas can influence them. Their agenda is a conflict of interest.

A conflict of interest can distort scientific research and make poor decisions. For example, scientists might be more likely to publish results that support their theory or downplay negative results.

Conflicts of interest can also hurt innovation. Innovators seeking patents or commercial opportunities are less likely to share their findings with others. Lack of information sharing can stifle innovation and prevent the development of new ideas.

Ultimately, it is crucial to recognize that conflicts of interest exist, and we must consider them when evaluating discoveries. It is also essential to have transparent and accountable systems to manage conflicts of interest.

A recent example of a conflict of interest that impacted innovation is the Volkswagen emissions scandal. In 2015, reports surfaced that Volkswagen had been cheating on emissions tests for its diesel cars. Cheating was possible because Volkswagen had developed software to turn off the emissions controls during car testing. The software allowed the cars to pass the emissions tests, but when they were on the road, they emitted more pollutants than allowed.

This scandal highlighted the importance of managing conflicts of interest and showed how bad decisions could happen when scientists are not impartial.

4)     Correlation and Causation

Science can be misused and abused by exploiting people's confusion between correlation and causation.

Correlation is when two things happen together more often than would be expected by chance. For example, there is a correlation between ice cream sales and murders — when ice cream sales go up, so do murders. But that doesn't mean that eating ice cream causes people to murder others. There could be any number of other factors at work.

Causation, on the other hand, means that one thing causes another. When we say that A causes B, it means that A always comes before B— and that changing A will change B. For example, we know that smoking causes cancer because smokers are more likely to get cancer than non-smokers. Changing the amount of smoking will change the amount of cancer.

When two things appear correlated, it's important not to jump to conclusions and assume that one thing is causing the other. Without doing proper research and testing, bad science can result. So next time you hear about some scientific study that seems too good to be true, be skeptical!

Using scientific studies to sell products is one commercial example where correlation and causation can mislead the public. A study that shows a correlation between a product and a positive outcome can persuade people to buy the product. But without knowing the full details of the study, it's hard to tell if the product caused the correlation.

For example, numerous studies show a correlation between eating breakfast and being thinner. So, many companies have started selling breakfast foods to help people lose weight. But does eating breakfast make you thinner? It's hard to say because there are many other factors at work. Maybe people who eat breakfast are more likely to be thinner overall or more likely to exercise in the morning. It's difficult to say for sure what's causing the correlation.

5)     Unsupported Conclusions

Bad science can often come from unsupported conclusions. When a study jumps to a conclusion without proper evidence, it can be misleading and cause further bad science. This is because people may get the wrong idea about the study and try to build on that misconception. In some cases, this can even lead to injury lawsuits by bad information based on bad science.

Therefore, studies must be very clear on what their evidence shows and what conclusions are still speculative. Clear studies allow people to understand the research better and prevent bad science from spreading further.

One recent example of bad science based on unsupported conclusions is the case of Theranos. This company claimed to have developed a new way to test blood requiring much less than traditional methods. However, after multiple retractions of their studies, revealing that their technology didn't work. The revelation led to massive financial losses for investors and patients who trusted the company.

Others attempting to follow in their footsteps found themselves back at the drawing board, wasting time and resources on something that wasn't possible. This is just one example of how bad science can have far-reaching consequences.

6)     Problem with Sample Size

Small sample sizes can lead to bad science for several reasons.

First and foremost, when the sample size is small, it's more likely that the data will not represent the population. This means that any conclusions drawn from that data may be inaccurate.

Additionally, small samples have less statistical power, meaning they're less likely to detect differences between groups or to identify significant results. This can lead to bad science in two ways: if researchers incorrectly conclude that there is no difference between groups and falsely deem a result statistically significant when it's not.

Finally, small sample sizes can increase the chances of type II errors (false negatives), which means publishing bad science because of a missed true effect due to the small sample size. These issues caused by small sample sizes can lead to faulty conclusions and bad science.

One recent example of a research study based on a small sample size that leads to bad science is a study on the effect of fluoride on children's intelligence. The study had a very small sample size, and as a result, the authors could not detect any significant difference between the fluoride and placebo groups. This led to bad science, as the authors incorrectly concluded that fluoride does not have an impact on children's intelligence.

7)     Unrepresentative Samples Used

Unrepresentative samples are often used in bad science experiments, leading to faulty conclusions.

Using a non-representative sample makes it much easier to obtain the results you're looking for because the data is guaranteed to be biased. Bad science perpetuates itself when this happens, and we often can't trust any scientific findings. For example, a study that claims salt is terrible for your health might be from 1a sample of people who already have health problems. The study would give the impression that salt is bad for everyone when it might only harm people with certain conditions.

If we rely on these studies to make decisions about our health, we could be doing ourselves a disservice. It's, therefore, important to always look at the methodology of a study before accepting its conclusions as fact. Only by doing so can we avoid being misled by bad science.

8)     No Control Group Used

The lack of a control group might doubt the results of an experiment. It's critical to compare the outcomes from test participants who received the tested substance to a control group that didn't receive it in clinical trials. This process allows researchers to see whether the drug made any difference.

Random allocation of groups is also crucial to minimize bias. In experiments, it's important to have a control test for controlled variables, allowing researchers to isolate the effects of a single variable.

Perhaps the most famous example of bad science without a control group is the case of thalidomide. The marketed sedative for pregnant women in the 1950s and 1960s revealed that the drug caused severe congenital disabilities in thousands of children.

9)     No Blind Testing Used

By not blinding the test, researchers can introduce bias into the study. Lack of blind testing can happen in different ways, such as researcher bias, subject bias, and observer bias.

Researcher bias happens when the researcher has a preconceived notion about the study's outcome and influences how it is conducted or analyzed.

Subject bias is when the subject knows which group they are in and alters their behavior. For example, if someone knows they are in a test group using a new drug treatment and feels better than those in the control group, they may believe that the drug worked when it didn't.

Observer bias is when someone not involved in the study (e.g., a friend or family member of one of the participants) knows which group a participant is in and reports on their behavior differently based on that information.

These biases can lead to inaccurate findings and conclusions in scientific studies. This can have far-reaching consequences, using bad science to make recommendations or decisions about treatments, policies, etc. It's, therefore, important that scientists use a blind test whenever possible.

One example of not using a blind test that caused future bad science is the Tuskegee syphilis study. In this study, 399 black men with syphilis were left untreated so researchers could study the progression of the disease. Even after it was discovered that penicillin could cure the disease, the study continued for another two years. This study's lack of a blind test led to biased results and further bad science.

10)Selective Reporting of Data

Regarding scientific research, the data collected should be unbiased and interpreted relatively. However, sometimes bad science is caused by researchers selectively reporting data. They review the data that supports their conclusion and ignore any information that does not. This can cause incorrect judgments and assertions.

One way to avoid this issue is always to present all the data collected, regardless of whether it supports your findings. This will help ensure that other researchers can interpret and analyze the data and reach their conclusions. It is essential to be open and transparent about your research methods and results so that others can evaluate them for themselves.

A recent example of bad science caused by selective data reporting is the paper "The Mismeasure of Man" by Stephen Jay Gould. In this paper, Gould argues that intelligence tests are biased against certain groups of people, such as women and minorities. However, later research has shown that Gould selectively reported data to support his conclusions. For example, he ignored evidence that showed no significant difference in test scores between men and women.

11)Unreproducible Results

When research is not reproducible, it becomes difficult to verify the findings, which can create doubt about the entire study. This can lead to bad science, as scientists may accept bad data as fact. In short, reproducible research is essential for good science, and when research is not reproducible, it can lead to a variety of problems.

One recent example of a retracted study that could not be reproduced is the infamous "South Korean stem cell study." Researchers claimed to have created stem cells in this study using a new method, but other scientists could not reproduce the results. As a result, the journal that originally published the study retracted it.

12)Non-Peer Reviewed Material

The importance of using peer-reviewed studies cannot be overstated. Using these studies, researchers can be sure that the information they are getting is accurate and reliable. Studies that have not been peer-reviewed may be flawed and thus unreliable. This can lead to bad science and inaccurate information being spread. Peer review is a critical step in the scientific process and helps to ensure that only the best, most accurate information is published.

There has been a recent rash of peer-reviewed studies and later retracted. It is not a perfect system, but it is our best. To avoid bad science, researchers should always look for peer-reviewed studies.

One example of a study that was peer-reviewed but later retracted is the infamous study on climate change by Dr. Michael Mann. The study, published in 1999, purported to show a correlation between climate change and the increase in global temperatures. However, the study was later retracted after it was revealed that the data had been manipulated.

These kinds of retractions of peer-reviewed studies put all other studies into question. It is hard to know which studies to trust when bad science like this makes its way into the peer-reviewed process.

Good Science versus Bad Science

Science is a process of exploration and discovery. When bad science occurs, it can cast doubt on all the findings of that study and the entire scientific process. However, we can avoid being misled by these studies by being aware of the signs of bad science. We can also help to ensure that good science is not tainted by bad data.

It is important to remember that science is an ever-evolving process. The retracted "South Korean stem cell study," for example, may have been flawed, but it led to discoveries about stem cells that could not have been made otherwise. In this way, even bad science can be valuable in helping us learn more about the world.

We should not give up on science just because of bad science; instead, we should use bad science as a learning experience and continue to explore and discover new truths about the world around us.

Let's work together to recognize and reward good science while calling out bad science so that we can ensure the best information in which to make informed decisions. 

No one can predict the future, but that doesn't mean we can't prepare for it.

We'll explore the concept of black swan innovation and discuss how leaders can respond to these events when they occur. We will also look at some examples of black swan innovations that have profoundly impacted society. Leaders can minimize the negative consequences of these unpredictable occurrences by understanding what a black swan event is and how to prepare for it.

So, What is a Black Swan Innovation?

A Black Swan innovation is an unpredictable event or occurrence that changes the course of an industry or business. It is something that no one could have ever predicted and can completely overturn the status quo.

The term "black swan" comes from the idea that black swans are events or occurrences that are so rare that they are almost impossible to predict. The black swan was given its name because all other swans were white before being discovered in Australia. Consequently, the bird was thought of as an impossibility.

The Black Swan

Nassim Taleb popularized the term in his book, The Black Swan: The Impact of the Highly Improbable. In his book, Nassim discusses the idea of black swan events and how they can majorly impact businesses and industries. He argues we should not focus on predicting these events but be prepared for them when they occur.

Taleb believes we should not prioritize past data when making predictions, as this data may not indicate future outcomes. Instead, it is crucial to focus on the present and future rather than the past.

Hindsight Risk

Hindsight claims of having seen a black swan can be misleading because they can lead to inaccurate assessments of the probability of an event. For example, if someone says they saw a black swan before it happened, it could give a false impression that the event was more likely than it was. The event could lead to people making decisions based on inaccurate information.

How To Prepare for Black Swan Events

Leaders should always be prepared for the unexpected, including being ready for black swan events. Before a black swan occurs, leaders should ensure accurate information about the probability of a range of events happening. This information can help them make sound decisions in the face of a black swan when it happens.

Leaders should have a plan in place for how to respond to a black swan. This plan should include contingencies for various potential scenarios. By being prepared, leaders can minimize the negative consequences of a black swan event.

Leaders should be prepared for many different types of black swan events. Some examples include:

Natural Disasters

A natural disaster is a catastrophic event caused by natural phenomena such as floods, hurricanes, earthquakes, or tornadoes.

Financial Crises

A financial crisis is when the value of financial assets collapses, leading to a liquidity crisis and often a recession.

Political Unrest

Political unrest is when social order is disrupted due to protests or civil unrest.

Technological and Innovation Disruptions

A technological disruption is an event that occurs when a new technology is introduced that disrupts or replaces the status quo entirely.

By being prepared for these and other types of black swan events, leaders can minimize the negative consequences that these events can have on their organizations.

Examples of Black Swan Events

Some past examples of black swan innovation include:

Printing Press

Before the printing press, books were hand-copied by scribes, which was a slow and expensive process. The printing press allowed for books to be printed in large quantities, which made them more affordable and allowed for more people to access them. The printing press led to a period of rapid intellectual growth and helped to spread knowledge throughout the world.

Electricity

Before the discovery of electricity, people relied on candles and other forms of light. Electricity allowed the development of new technologies such as light bulbs, radios, and televisions. The discovery led to a period of rapid technological growth and helped improve many people's quality of life.

Internet

The internet has allowed for the exchange of information and ideas on a previously unimaginable scale. It has also allowed for the development of new technologies, such as social media, which has revolutionized how people interact. Additionally, the internet has made it easier for people to access information and has led to a period of rapid economic growth. By allowing for the exchange of information and ideas on a global scale, the internet has had a far-reaching impact on society that is difficult to overestimate.

Each of these inventions was a game-changer that completely disrupted the status quo. They were all considered impossible until they happened, and they each profoundly impacted society.

Responding To A Black Swan Event

If a leader is suddenly faced with a black swan event they did not prepare for, there are several steps they can take to minimize the negative consequences.

While there is no way to predict or prepare for every possible black swan event, leaders can minimize the adverse effects of these events by being prepared and taking quick, decisive action when they occur.

Not If But When

It is not if a black swan event will occur, but when.

Black swan innovation is like a tidal wave — it is unpredictable, but it can cause a lot of damage when it hits. However, leaders can minimize the negative consequences if they are prepared for black swan events. By being proactive and staying calm under pressure, leaders can help their team weather the storm. In the aftermath, taking the time to review what happened and learn from the experience is crucial.

As Nelson Mandela once said, "I never lose. I either win or learn."

Previously on the show, we discussed the failure of innovation journalism in the modern day. To combat the failure of innovation journalism, we are launching The Innovators Network (TIN).

Founded upon the belief that innovation is essential to addressing the world’s most pressing problems, The Innovators Network wants to empower readers and inspire them to become agents of change. We will provide them with the information needed to make informed decisions around innovations. 

Innovation Journalism

We believe that excellent innovation journalism should be three things: 

• Solution-oriented - Telling the whole story behind an innovation while sharing the problem the solution will solve.  
• Human-centered - Focused on the people behind the innovation and how it affects their lives. 
• Actionable - Providing readers with the information they can use to make decisions in their own lives.

What’s New?

The Innovators Network’s content will sport a variety of topics, including but not limited to: health care, transportation, energy, education, food, manufacturing, and information technology. To ensure the quality of our content, we have already attracted support from leading contributors such as Emmy Award-winning journalist Kym McNicholas. All my content will now be available on The Innovators Network. Our network of external contributors will now include journalists, analysts, industry experts, and thought leaders from various organizations. This change allows us to provide comprehensive and accurate innovation coverage. 

TIN Digital Content Platform

The digital content platform has three main components:

1. The Innovators Networkwebsite features original and syndicated articles, interviews, videos, and podcasts on innovation. 
2. A weekly newsletter will bring the best innovation content to your inbox. 
3. Social media accounts such as Twitter, Facebook, Instagram, and LinkedInwill provide essential updates on innovations. 

The TIN website launches today, so check it out! Watch out for the weekly newsletter sent out in the following weeks. You can sign up at the bottom of the TIN website. The social media accounts are already active. 

You need to be known as an inventor to attract the industry and make money from your ideas. The more successful you are as an inventor, the more people want to do business with you. I’ve discovered that submitting ideas to competitions and sharing work on social media are the best ways to build your reputation. 

Submitting your ideas to competitions exposes you to a broad audience while showing them you are a serious inventor. Sharing your work on social media gives you credibility in the eyes of potential customers and clients. Making money from your ideas can be daunting, but it is possible. You can increase your chances of success by following the steps outlined below.

Common Inventor’s Mistakes

1.     Not Taking Action

Ideas are worthless unless you execute them.

2.     Not Protecting Your Ideas

File for a patent or copyright for your idea before sharing it, so no one else claims it. 

3.     Not Marketing Your Idea

Create a website, write a blog, and use social media to increase the chances of monetizing your idea.

4.     Not Being Persistent

Successful monetization of your idea requires persistence. 

4 Steps to Idea Monetization

1.     Validate that there is a market for your idea.

Research companies that produce similar products or services to identify if there is demand for your idea. 

2.     Talk to people in your chosen market.

Ask for feedback on your idea. 

At this point, you have two choices:

Work with a company specializing in licensing and monetizing ideas or create a company around your idea.

If you choose to create a company around your ideas, then:

3.     Create a prototype.

Prototyping will help you further validate your idea and give you something to show potential investors.

4.     Find investors.

Negotiate a deal and start working on making your idea a reality.

Using an Invention Firm

Invention firms can help you protect your idea, market it, find investors, and turn it into a reality. If you choose to work with an invention firm, ensure you do the following:

1.     Make sure you understand the terms of the agreement.

2.     Be cautious of companies that require upfront fees.

3.     Do your research.

4.     Get everything in writing.

5.     Be prepared to give up some control.

InventRight is a reputable firm that has helped many inventors get started with making money from their ideas. They also have a robust YouTube channel for inventors. We had Stephen Key, the founder, and CEO of InventRight, on the show back in April.

Note: This is not a sponsorship or endorsement. I have not used their services for any of my ideas. They have impressed me with the breadth and depth of the ideas they have monetized. 

Procrastination is a thief of potential, time, happiness, and success. Innovators often don't realize they are procrastinating because of how many projects they start. While innovators start innovations, they fail to launch them.

Failure to launch is one of the most insidious forms of procrastination. In innovation, you will get your next position or project based on your portfolio, not your resume. It's all about the execution. If you are interested in looking at a small sample of my portfolio, you can hop over to Techtrend.

FIRE - Execution Stage

The FIRE innovation framework is a great way to avoid the trap of starting but not completing.

The key is to move from stage to stage in the framework until you've launched your innovation.

People procrastinate the most in the execution stage.

In the execution stage, things can get messy, but avoiding it is no excuse. As innovators, we tend to compare our ideas to others and want to launch something perfect. Perfectionism is one of the biggest roadblocks to creative output. Don't let the fear of failure block your chances of success. 

Anti-Procrastination Tips for Innovators

1.     Focus on one innovation.

Your focus will increase overall productivity as you will unlock the room for more innovations. 

2.     Set a deadline.

Setting intermediate deadlines for each task allows you to reach goals effectively. "The difference between a dream and a goal is a deadline." - Harvey Mackay

3.     Find an accountability partner.

A partner should be someone who keeps you on track and is supportive while offering honest feedback. 

4.     Break it down into smaller steps.

Consider using an agile innovation process that breaks down a project into short iterative cycles.

Check out our podcast on The 7 Essential Ingredients of Agile Innovation. 

5.     Focus on your why.

Your why is the reason or your motivation for working on a particular project. If you can keep this in mind, it will help you push through the difficult times.

6.     Celebrate your wins.

Celebrating each accomplishment will help you keep your focus and motivation high.

Achieving Innovation Success

Regarding innovation, it's important to remember that Rome wasn't built in one day.

Your first try will probably fail, and that is ok. It takes hard work, focus, and determination to be successful. If you follow the steps outlined, you'll be well on achieving your innovation goals. 

Innovation journalism is one of the essential types of journalism in the modern world. Journalists must explain and communicate these changes when innovations and ideas emerge to the public. Innovation journalism is currently in a state of crisis, as science and technology reporters only make up a small percentage of reporters in American newspapers. Despite this fact, according to a Pew Research Center survey, more than half of Americans say they want more news about science and technology. To truly understand and grapple with our changing world, we need journalists willing to provide real insight into emerging innovations.

The Problem: Lack of Innovation Understanding

Journalists and media platforms often sensationalize innovations to increase traffic while showing prejudice towards ones they don't like. Sensationalism can distort public understanding of potentially transformative innovations, promote misinformation, and distort policymaking. Innovation journalism should be about exploring the implications of innovations and ideas while shining a light on the people making them happen.

Theranos: An Innovation Journalism Failure

The media hailed Theranos as an exciting new technology that could revolutionize the blood testing industry. Theranos' CEO, Elizabeth Holmes, was often described as the "youngest self-made billionaire," Time Magazine referred to her as "The next Steve Jobs." Eventually, The Wall Street Journal revealed that Theranos was misleading investors and patients about its technology.

Forced to shut down, Elizabeth Holmes was convicted on multiple counts of fraud. The lesson from the Theranos story is that innovation journalism needs to be more than just positive coverage of new technologies. It needs to be willing to ask tough questions and investigate claims made.

Guidelines of Good Innovation Journalism

Here are eight guidelines of good innovation journalism discussed in the podcast: 

1. Avoid Hype
2. Seek Diverse Perspectives
3. Consider the Implications
4. Go Beyond the Press Release
5. Verify The Claims
6. Be Transparent About Your Sources
7. Disclose Conflicts of Interest
8. Label Opinions as Such

The Future of Innovation Journalism

If innovation journalism is to have a future, it must do several things.

1. It must move away from its current focus on gadgetry and startups.
2. It must embrace its role as a critical and informative force in society.
3. It must also provide context and analysis, not just hype.
4. It must ask hard questions and hold those in power accountable.

Only then will it be able to fulfill its potential truly. Otherwise, it risks becoming nothing more than a buzzword or an empty promise. Having accurate, transparent, and unbiased reporting on innovation can empower individuals, organizations, governments, and society to bring about positive change.

Joy is a feeling of great pleasure and happiness. Many things can prevent us from enjoying our lives and our work. Finding ways to deal with these challenges is crucial, so they don't take away our happiness. Innovation is all about creating new things and solving problems.

Being a part of successful innovation adds joy to your life. That joy has motivated me for 40 years of my career in innovation. It can be gratifying if you're able to make a difference in the world through innovation. 

 What Brought Me Joy of Innovation

 In 1986, I led the development of one of the first biometric security devices, a fingerprint reader for a company called ThumbScan. Eventually, a company out of Stockholm acquired ThumbScan. Delivering something nobody thought could ever invent excited me and made me want to repeat it.

Next, I worked on a supercomputer project at the University of Illinois at Urbana Champaign. There was a researcher that had developed the concept of massively parallel supercomputers. The processing architecture was called MISC, which drove a lot of interest when we developed it. Ultimately, it got acquired by Atmel. It was exciting to see something we'd worked on for so long and so hard become real. The excitement gave others also brought me joy. Again, this joy motivated me to continue the process.  

 Finding Joy of Innovation At Work

Many things can take the joy out of innovation. While finding joy in your work is hard, making a few changes in your mindset is possible. Here are a few tips that I've applied over my career:

1. Make a list of things you love at your job

A list can help you remember why you chose this career in the first place

2. Set small goals for yourself and celebrate when you reach them

Goals can help give you a sense of accomplishment rather than waiting for the big win. I believe in utilizing Objectives and Key Results (OKRs).

3. Find a mentor or role model who loves their work

A mentor can give you a different perspective and encourage you

4. Take a break when you're feeling overwhelmed

Breaks can help you clear your head and come back to your work refreshed

5. Talk to your friends and family about your work.

Get those close friends and families who will tell you the truth and have your back when you need them. 

Innovating with Nanobots - What You Need to Know S18 Ep21

Process innovation is the implementation of new or significantly improved processes to achieve tangible outcomes. There are two types of processes: operational and managerial. Operational processes seek to improve efficiency through streamlining activities and eliminating production waste. Managerial processes strive to enhance the effectiveness of a process by improving coordination and decision-making. Redesigning the process’s structure or improving its activities can help in both process types.

Increasing departmental collaboration, creating a culture of experimentation, and utilizing data analytics help improve it. Constantly monitoring and refining an innovation process ensures businesses are always at the forefront of market trends and can create successful products.

Why is Process Innovation Challenging?

Process innovation involves change, which people don’t typically like. It also requires a clear understanding of the process and areas of improvement. To achieve this, try breaking down the process into small parts, diagraming it, reordering it, or seeking help from an expert such as Techtrend. An implementation plan is needed to implement a business process innovation successfully.

5 Benefits of Process Innovation

1.     Reduced waste and costs

Businesses can reduce waste by developing new methods or technologies to carry out activities more effectively.

2.     Improved efficiency

Process innovation allows organizations to carry out activities more effectively, which reduces the time required to complete those activities.

3.     Increased production capacity

The creation of more efficient processes can result in higher work handling. 

4.     More affordable products or services

Increasing efficiency can lead to lower costs and passed on to consumers at lower prices.

5.     Greater customer satisfaction

When products or services meet the customer’s needs, customer satisfaction and loyalty also increase.

Example: The Ford Assembly Line

The Ford assembly line increased efficiency and allowed for mass production. It also helped to reduce the cost of manufacturing cars, making them more affordable for consumers. Some call this a product and process innovation in a highly competitive business environment.

Chunka is passionate about changing the world by thinking through future problems. He loves to ponder what is possible in the future, given the exponential growth we are experiencing now. As innovators, we forget to consider our innovations' unintended consequences.   

Chunka says innovators also don't think enough about the intended consequences. His latest book, A Brief History of a Perfect Future, asks what would be crazy not to have, given the current capabilities. It goes on to share how society can work to design a better future intentionally. It's a different way to look at how we innovate, not just for social good but for business good as well. 

A Brief History of a Perfect Future

Much of Chunka's new book is helping people think outside of the box. The book does a great job of actively motivating people to think differently to make a better future. We have incredible tools that act as amplifiers to our choices. Advanced solar and renewable energy, transportation, etc., act as building blocks. We can use these capabilities to help with problems such as healthcare and poverty. So much more can be done, but it all starts with a long-term mindset. 

Pressing Problems

According to Chunka, the climate is one of the most pressing issues. With the available capabilities, it would be crazy if we didn't mitigate the worst effects of climate change by 2050. To do this will require a combination of individual, corporate, and government action. 

How You Can Make a Difference

Leaders can look for business opportunities that address long-term problems. Consumers can make an impact through what they buy and don't buy. Investors can enable companies to make significant impacts. Employees can bring their talent to impactful organizations. We can all play an active role in designing a perfect future where real change happens. Aim for the future and treat it as an opportunity. 

About our Guest: Chunka Mui

Chunka Mui is a popular guest speaker, futurist, and innovation advisor. He is the author of 5 books on strategy and innovation, including, most recently, "A Brief History of a Perfect Future: Inventing the World We Can Proudly Leave Our Kids by 2050."

Check out Chunka's Linkedin here and his website here. 

Outsourcing innovation is an exciting way to increase innovation competitiveness. Utilizing organizations like an innovation agency can allow firms to focus on other business areas. The results are increased efficiency, improved quality, faster innovation implementation, reduced innovation risk, and increased flexibility.

Outsourcing innovation can be a powerful tool to help companies speed up their growth. By understanding the risks and challenges, companies can set themselves up for success.

5 Outsourcing Models

1.     Project-Based Innovation

Useful for specific projects, specialized skills, or testing out new relationships.

2.     Joint Venture for Innovation

This collaboration can benefit companies wanting to share the risks and rewards associated with innovation.

3.     Innovation Strategic Alliance.

Beneficial for companies wanting to combine resources and ideation expertise to create a competitive advantage.

4.     Innovation Licensing Agreement.

Agreements allow access to another company's technology or expertise.

5.     Innovation by Acquisition.

Allows companies to add innovation capabilities or enter a new market quickly.

Innovation Outsourcing: Successes and Failures

In Apple's work with Foxconn, it outsourced its product manufacturing. The outsourcing allowed Apple to focus on design and development, while Foxconn created innovations to produce the products. As a result, Apple could bring new products to market quickly and efficiently.

On the flip side, BlackBerry's work with TAT failed. TAT was supposed to take over UI/UX development, helping recapture market share from Apple and Android. TAT and Blackberry could not develop an operating system fast enough to keep up with the competition. BlackBerry lost market share, and both companies had to fire staff.

Keys to Successfully Outsourcing Innovation

1. Have a clear understanding of what the company wants to achieve.
2.  Have a strong relationship and be able to work together effectively.
3.  Ensure companies can trust each other.
4.  Ensure both parties are willing to invest the necessary time and resources.
5. Look for companies with a proven track record of innovation.
6. Understand the company's business model and how it aligns with yours. 
7. Understand their capabilities, including strengths, weaknesses, tools, and processes. 
8. Understand their team's culture and skills. 

Design plays a vital role in our lives and is ever-evolving. In the past, it meant designing or planning something. In the early 1800s, the term was synonymous with art, and in the late 1900s, it referred to creating products or services. Over time, design has gone from being a specialized field tied to specific design movements to a more holistic approach. Now, it's a way of thinking that considers the entire design process from start to finish. In today's rapid and ever-changing world, businesses need constant innovation. This is where design thinking shines through. 

What is Design Thinking, and Why is it Important?

Design thinking is a process that allows the design of products, services, and environments to be developed in an iterative design cycle with continuous feedback. It helps designers create innovative solutions by applying constraints like time and money.

Solving for constraints is an iterative process of design, testing, and refinement called the "design thinking cycle." Innovators use this process to create solutions no matter the constraint. It focuses on a user-centric approach used in many fields. Design thinking is an adaptable process that can design for changing needs.

5 Skills Needed for The Design Thinking Process

1. Creativity

Creativity allows designers to develop new ideas and find innovative solutions to problems.

2. Problem-Solving

The design thinking approach, based on the idea that there is no one right solution to a problem, is vital to come up with multiple possible solutions.

3. Critical Thinking

In design thinking, designers need to think critically to determine great ideas with practical solutions. 

4. Collaboration

Designers need to collaborate to brainstorm and come up with the best possible solutions. 

5. Communication

Designers must communicate effectively to share ideas, get feedback, collaborate, and explain ideas to management and stakeholders. 

The Future of Design Thinking and Innovation

1. Healthcare:

Healthcare design can improve patient safety, increase access to care, and reduce costs.

2. Education:

Design can improve student learning by making it more accessible, enjoyable, and affordable. 

3. Transportation:

Design innovation in transportation can improve safety, reduce congestion, and increase efficiency.

4. Technology:

One of the main goals of design in technology should be a human-centered design to improve usability.

The science of creativity has many theories and ideas that seek to explain it. New approaches and models are constantly emerging, which provide some insight but are not exhaustive. One theory suggests that creativity combines cognitive processes, including knowledge, imagination, etc. However, proof shows that experts and those with fresh eyes can often be creative in the same area.  

Creativity Models

The four-phase model comprises the following phases: preparation, incubation, illumination, and verification. The preparation consists of gathering information and materials, developing a plan, and finding inspiration. Incubation is utilizing deep thought and focus on developing the idea. Illumination is where the idea's potential is visible, and the execution around it is understood. Verification consists of evaluating the worth of the idea to those working on it and those it will impact.

The creative abilities model outlines five creative abilities: fluency, flexibility, originality, elaboration, and synthesis. Fluency (ideation) is the ability to produce several rapid ideas, allowing for exploration and experimentation. Flexibility allows people to adapt to new situations and environments. To measure originality, compare your idea to existing ideas, research patents, etc. Elaboration is taking an initial idea and making it more comprehensive and complex. Synthesis is taking ideas and concepts from different sources and combining them into something new.  

AI and Creativity

Some people believe that AI could eventually become creative. Because there is no absolute definition of creativity, it's difficult if this will come true. In the meantime, researchers are working on ways to make AI more creative, such as by developing algorithms that can better identify and combine novelty and usefulness.

Creativity and Mental Illness

People correlate creativity with mental illness because many creatives have spoken about their mental illness struggles. Some studies have found links between specific mental illnesses and increased levels of creativity. The currently available evidence does not support the myth that creativity and mental illness are linked. 

Chronic innovation critics are people and processes that kill new ideas before they can thrive. They prevent you from trying new things and learning from failures. The criticisms may result in your organization getting stuck in its current state. Innovation critics love to point out why an idea will fail. These people are often the ones who have been with the organization the longest and are the most resistant to change. All organizations need people to push back and challenge ideas because it improves them. The key is to combat them with specific, objective, and actionable criticism.

Four Reasons Innovation Critics Kill Ideas

1.     The Ego Response

“Oh, I already thought of that a long time ago.”

“Somebody else has already come up with that idea.”

Your idea makes these people feel threatened, but you can strategically turn things around. Appeal to their ego by infusing any feedback they give into your idea pitch to gain their support.

2.     The Fatigued Response

“You’ll never get approval.”

“We tried that before.”

Innovation critics are often burned out from having their innovations rejected. The key is to find a way to demonstrate that your idea will not play out their worst fears about repeating past experiences.

3.     The No-Risk Response

“Not enough return on investment.”

“We can’t afford that.”

Some innovation critics fear risk as it can negatively affect their careers. Get them comfortable with risk by breaking your innovation into smaller steps.

4.     The Comfort Response

“We’ve always done it this way.”

“Our customer likes it this way.”

These critics may have outdated thinking about what success looks like. It’s up to you to convince them that what makes up success may well have changed.

The Intent of The Criticism

With each of the four responses to your ideas, these critics can be constructive or destructive. These will be dependent on their intent and how feedback is received. Identify which of these responses you typically get, and then try to understand their motivations. If people tend to dismiss your ideas, try to explain your vision in more detail or share data supporting your case.

To overcome chronic innovation critics, encourage a diversity of perspectives, make it safe to fail, and reward innovation. This action will help to create a culture of innovation within an organization.

Innovation storytelling helps capture people’s attention and connect with them on an emotional level. This connection is what allows you to get your message across in a way that is both memorable and meaningful, leading to lasting change.

In an organization storytelling can help build an innovation culture, inspiring people to ideate and take action. Additionally, it can help create a sense of community and collaboration. Storytelling can also attract support such as funding or partnerships. There are two types of storytelling: origin stories and innovation stories. An origin story typically tells the story of how a company or product came to be, while an innovation story focuses on a specific new idea or invention. 

At Techtrend, innovation storytelling is an integral part of the innovation process. Teams use storytelling to prototype and test new ideas with customers and users, and to communicate innovation results internally. As a result, people get excited and are more likely to be committed to the innovation’s success. 

7 Tips for Successful Innovation Storytelling

1.     Finding a great story that highlights the innovation

Identify key points of the story and write in a way that hooks readers from beginning to end. 

2.     Make sure the story is interesting and engaging

To do this, you need to find an interesting story that highlights the innovation and is done so authentically. 

3.     Communicating the story clearly and concisely

To do this, you must understand the different elements that make up the story. Present drafts, early versions, and the final draft to test audiences, colleagues, and friends, to collect feedback. 

4.     Make sure the story is relevant to your audience

To keep things relevant, you must understand the audience’s interests, concerns, fears, and hopes. Once you know that, you can frame the story in a relevant and interesting way. 

5.     Create authentic stories

Authentic storytelling needs to be true to the storyteller’s or audience’s current and future experiences. 

6.     Keep the story concise

Keeping things concise gets your point across quickly and effectively.

7.     Using innovation storytelling is just one part of a larger communications strategy

Successful companies know that storytelling is one of the most powerful ways to connect with customers and inspire their teams. Storytelling can help your company stand out from the competition and be seen as a leader in your field.

Techtrend has years of experience creating successful storytelling campaigns for a wide range of clients, as well as tools and resources to distribute the story. If you’re looking for a company that can help you with your innovation storytelling in a powerful and impactful way, contact us at hello@techtrend.com.

We are joined by Craig Leddy of Interactive TV Works to discuss innovation in the media industry. 

Innovation in Media and Entertainment

Most people don’t think of the media industry as a driver for innovation. People tend to overlook the fact things like cable TV took decades to get to where it is today. In the media and cable industries, the process behind the technologies tends to get overlooked. People look at pioneers such as Ted Turner and think they were overnight successes. These things took time and tons of effort, and there were many unsung heroes along the way. While there are big players such as Comcast, Spectrum, etc., there are still many small cable operators out there. These companies are building out fiber and working hard to close the digital divide. Although not as large as before, the entrepreneurial spirit is still alive and well in the cable industry. 

The Two Dimensions of The Digital Divide

COVID-19 opened people’s eyes to the two dimensions of the digital divide: availability and affordability. Major companies, along with the Whitehouse and SEC, just agreed to create a broadband offer at an affordable price. While these companies in the cable industry compete, they collaborate when it is the right thing to do. For eleven years, Craig has run the Interactive Case Competition with graduate-level students. The competition presents real-world challenges to students and brings in industry experts to guide and coach them. The last competition focused on figuring out how to motivate people to connect once broadband is widely available and affordable. The winning team from Drexel University created a plan where households with students could get more broadband at an affordable price. This competition, along with the CableLabs 10G Challenge, is a great way for innovators to help improve impactful technologies.   

Consumer Security and Privacy Concerns

Security and privacy are key issues in the tech world today, for individuals and corporations alike. Many companies have no choice but to put up big safety walls to keep them protected. Whether you are a large or small company, security is a problem you must deal with. On the other hand, individuals have more freedom to ignore these worries. With all the ransomware headlines popping up these days, some people feel safer offline. There will no doubt be people who aren’t trusting of broadband once it is widely available. It will be interesting to see how companies present broadband to those who have never been online. 

About Our Guest: Craig Leddy 

Craig is a leading authority, writer, lecturer, research analyst, and historian on the cable industry, broadband, interactive media, television, digital technology, and wireless. Craig serves as the Founder, President, and Senior Market Analyst at Interactive TV Works, a consultancy based outside New York City. Craig has more than 30 years of business and tech writing experience, previously including top editor positions with Electronic Media and Cablevision Magazine and columnist for Multichannel News. He was inducted into Cable Pioneers in 2020.

To connect with Craig, check out his LinkedIn here.

Today’s show will be a commencement speech I virtually gave on the biggest barrier to innovation.

What is the Biggest Barrier to Innovation?

Fear is defined as an unpleasant emotion caused by the belief that someone or something is dangerous and likely to cause pain or a threat. For humans, fear tends to build on itself. Fear stands for false evidence that appears. Our brains can take "false evidence" and twist it into the worst potential outcome, making it "appear real". This occurs as we strive for perfection, whether as an employee, spouse, leader, parent, or in this case, a student. The reality is that nobody is perfect, and failure is an unavoidable part of life. The most successful people have become "comfortable" with the education failure brings. 

 Avoiding the Conformity Trap

The real problem is conformity, which is thinking and acting the same as everybody else. No matter how much you conform to what others are doing, you can’t avoid failure. Taking what we think is the "safe" approach puts us at more risk. It takes bravery to step out and leave the warm space of conformity to try something new. Because the world is rapidly changing, what constitutes success in the future won’t be the same as in the past. When I started my career, success was defined as doing the tasks that my boss assigned to me. In the new creative economy that we are moving towards, the definition of success is creating valuable ideas that solve problems. In a recent study, only 25% of the population believe they are creative and offer value through their creativity. So why do 75% of the population think they are not able to contribute to the creative economy? They don't see being creative as normal and fear the uncomfortable risks innovation brings. Society needs your human ingenuity and creativity to solve some of our biggest problems and create opportunities for the future. Welcome failures and step out to unleash your creativity today!

An innovation strategy is a plan outlining how a business will create, develop, and bring new products or services to market to gain a competitive advantage. A strategy guides the efforts of individual employees or entire teams and tailored to the organization's unique needs. It also helps ensure the organizations' innovation initiatives remain competitive and relevant. Businesses without innovation strategies lose to competitors.

What's in an Innovation Strategy?

1. A definition of innovation

This definition includes things like creativity, risk-taking, and newness. Understanding these terms ensures everybody is on the same page when brainstorming and developing new ideas.

2. A description of the organization's innovation process

This description helps team members understand how new ideas are developed within the organization and provides a framework for brainstorming and ideation. The description tells how ideas are generated, evaluated, and implemented and explains the overall innovation management approach.

3. Identification of the organization's innovation goals

Goals should be specific, measurable, achievable, relevant, time-bound, and aligned with the organization's overall business strategy. A goal example is to develop a new product that will generate a specific dollar amount within a particular timeframe.

4. Identification of the organization's key stakeholders

Key stakeholders could be the CEO, senior management, marketing department, and R&D department. It's essential to identify and consult with them when developing the innovation strategy plan so they can provide input and help to ensure success.

5. Identification of resources needed to support the innovation strategy

It's crucial to identify financial and non-financial resources to support the plan, such as funding for R&D, marketing, employee training, office space, equipment, and software.

6. A timeline for implementation

An implementation timeline helps team members stay on track and ensures meeting the plan's goals within the set timeframe. The timeline should be specific, including milestones to meet the goal.

7. A plan for assessing the success of the innovation strategy

This assessment plan should include the number of new ideas generated, the number of ideas implemented, and their level of impact. It should also have feedback from employees, customers, and stakeholders, which can be used to adjust the innovation strategy.

8. A system for documenting and sharing best practices

To ensure best practices are shared and implemented, organizations should have a system for documenting and sharing them accessible to all employees. This could be a database of best practices, a wiki page, or a blog.

9. Guidelines for evaluating new technologies

The evaluation should include a review of the technology itself and its feasibility for implementation. The team should also assess the risks and benefits of using the technology and whether it aligns with its innovation goals.

10. Procedures for handling intellectual property rights

This section is essential because it outlines procedures for protecting and managing the organization's intellectual property and should include a plan for dealing with intellectual property disputes.

11. A policy for innovation training and development

This policy should outline the types of innovation training and development programs available to employees. It should also include a plan for assessing the effectiveness of the programs and provide guidelines for how employees can access them.

12. A budget for implementation

The budget should include funds for R&D, marketing, employee training, and a fund for unexpected expenses. It's essential to regularly review and update the budget and consult with team members to ensure everyone is on the same page.

 Today, we continue our series on innovation agencies and will explore why organizations hire them.

Why Do Organizations Hire an Innovation Agency?

1. To help with creative problem-solving.

An innovation agency can help organizations find new solutions to their problems. These agencies bring new perspectives and stimulate creativity, allowing companies to overcome roadblocks and generate new ideas.

2. To help with product development.

An agency can help organizations develop new products that meet customers’ needs. By working with an agency, companies can access the creativity and ingenuity of the team that can help them create innovative and commercially viable products.

3. To help with business model innovation.

An innovative agency can help organizations innovate next-generation business models and test them in live settings. This process accelerates adoption.  

4. To get access to creative talent.

An agency has a diverse team of highly skilled and creative professionals. Creativity is a skill that can be taught and learned, but it’s usually not something you’re born with. Thankfully, there are plenty of ways to cultivate creativity in yourself or your team. One way to do this is to hire an innovative agency!

5. To get access to resources.

Innovative agencies typically have a wide range of resources, including funding, mentorship programs, outsourced manufacturing, channel partners, and workspace. These resources can reduce the time it takes to bring products or services to market.

6. To accelerate commercialization.

Agencies can also help organizations with the commercialization process. They can help identify and assess marketing trends and opportunities, develop testing plans, and create channel partnerships to get products and services onto the market.

7. To help drive business growth.

An innovative agency can also help organizations create and execute their growth strategies. This process includes helping to identify new markets and the latest products and services for these new markets.

8. Access to new technologies.

Many agencies have strong relationships with technology providers. These relationships can be helpful for organizations looking to stay competitive in their industry. Through access to technological advancements, agencies can bring their clients the most up-to-date and innovative technology for their innovation efforts.

9. Expert advice.

Innovation agencies have significant experience with ideation, product development, business model innovation, and commercialization. Companies can access this expertise and learn from the agency’s experience.

10. To outsource innovation.

Innovation agencies can also help companies outsource their innovation efforts. Outsourcing can be helpful for organizations that don’t have the time or resources to do everything themselves.

The Benefits of Working with an Innovation Agency

1. Access to creative talent.

Creative agencies typically have a team of highly skilled and creative professionals and connections with other organizations, such as designers, marketing agency leaders, and PR experts.

2. Specialized expertise.

Innovation agencies can help you turn your idea into a reality, whether you’re a young startup or an established business. Their expertise can help you ideate, brainstorm, conduct research, create prototypes, and launch products.

3. Faster turnaround times.

Innovation agencies can often turn around projects faster than consulting companies. Their team of experienced professionals and network of contacts can help you get your idea into the market more quickly than you can do individually.

4. Lower costs.

Innovation agencies typically offer lower costs because of their deep expertise and experience. They also have access to a broader pool of creative talent, which drives down the cost of services.

5. Greater focus on innovation.

An innovation agency is focused exclusively on helping clients achieve innovation goals. In contrast, a consulting company may have other priorities that can distract it from providing the best possible service to its clients.

Let us explore what an innovation agency is and how it can help bring you more success in the challenging innovation process.  

Why Hire An Innovation Agency?

Innovation Agency is a term created to distinguish agencies that specialize in innovation from the agencies such as advertising, design, marketing, and PR agencies.

An innovation agency specializes in helping businesses create, market, and sell new products and services. They utilize a team of experts to help your business with everything from ideation to execution. An innovation consulting company allows companies to improve their innovation processes. They typically don’t have expertise in ideation, prototyping, product development, and launching. However, they can help you develop a better process for coming up with new ideas and bringing them to market. The crucial difference here is that an innovation agency specializes in assisting clients in creating new products, services, or business models. In contrast, innovation consultants typically advise improving existing products, services, or business models.

Characteristics Of An Innovative Agency

Agencies have innovative staff with access to creative resources such as design studios and marketing agencies. They have a track record of helping clients successfully innovate. Innovation agencies can help clients innovate in several ways. Firstly, they help identify and define problems that need solving. Secondly, they provide access to creative resources like innovators, design studios, prototyping experts, engineering expertise, and product launch expertise. Lastly, they guide and support clients through the challenging innovation process.

An innovative agency specializes in taking ideas and turning them into new products, services, and business models. They can help clients overcome challenges that many organizations experience in translating an idea into an innovation. They help clients identify and assess opportunities, understand the customer and their needs, and develop a strong business case. Innovation agencies also create prototypes and test them with customers. They specialize in scaling innovations, protecting and commercializing them, managing risk, and making innovations sustainable.

Using an agency with a deep track record of helping clients achieve success is an excellent way to increase your chances of success with your innovation efforts. When you choose the right innovation agency, they bring together expertise you don’t have to improve what you do have. They have the experience and knowledge to help you navigate the challenges during the innovation process. This can be extremely helpful in ensuring that your innovation efforts are successful.

Innovation Agency Resources

If you want to learn more about innovation agencies and what is involved, start with a quick Google search of innovation agencies. There are several of them that specialize in different industries. Secondly, stay tuned as I will be sharing more about innovation agencies and why and how to leverage them to your benefit. Lastly, check out Techtrend Group at techtrend.com. Full Disclosure — Techtrend is the innovation agency I started in 1996 and am now the Chairman. That said, I’m not that involved in the day-to-day at Techtrend. They just recently relaunched their site and updated their portfolio. They specialize in tech, consumer electronics, architecture, and digital immersive media experiences. Techtrend will give you a good view of an innovation agency.

Stephen Key joins us to discuss how inventors can successfully license their most valued ideas. 

Stephen Key and Licensing Inventions

Stephen has an extensive following on YouTube, where he coaches, mentors, and advises inventors. His channel focuses on those who have ideas but don’t want to start a business. Creative people want to do what they are good at but don’t always want to do the heavy lifting. This is where the licensing business model comes into play.

The first part of the process is recognizing that companies must keep innovating to stay alive. Then you need to deeply understand a specific company’s culture, business model, etc., and sell them an invention that fits what they are looking for. Licensing is all about finding that perfect partner that has everything in place today. If you come up with an idea, it is not copy-proof. When you market your product to an established leader, they can get it to market fast, protecting you.  

Where Inventors Go Wrong

Most inventors who approached HP didn’t understand our product lines, strategies, customer segments, etc. If an inventor who had done their research came to me, the conversations would have been different. Product developers need to understand the company’s mission, vision, supply chain, costs, etc. Most inventors look at things only from their perspective, resulting in failure. Inventors need to invest time with potential licensees. In my ten years at HP, the winners at this were the ones who knew our mission, technologies, and competitors and had a plan of attack. 

The 10G Challenge, InventRight TV and inventYes

There are many contests and programs to help inventors win. CableLabs is hosting a contest called the 10G Challenge, based on new services that will run on multi-gigabyte broadband networks. The prize is $50,000 in four different categories: Health, education, work, and entertainment. The best overall idea wins $100,000. At the end of it all, the inventor keeps their idea. 

Stephen started his YouTube channel, InventRight TV, to give people a roadmap on how they can license their inventions. He also created inventYes, a free program that teaches kids how to license their inventions. It’s all about giving people the opportunity to see how they can change the world. 

Check out Stephen’s YouTube channel here.

Check out his LinkedIn page here. 

About our Guest: Stephen Key

Stephen Key is an author, writer, and leading expert in licensing consumer product ideas. The innovative packaging solution he brought to market has more than 20 patents and received 15 industry awards, including two Edisons. InventRight, the coaching program he cofounded in 1999, has helped people from more than 60 countries license their product ideas. Stephen has a popular YouTube channel inventRight TV, and writers for Forbes, Inc., and Entrepreneur.

In 2017, he cofounded Inventors Groups of America to educate and empower inventors and inventing group leaders. He is also the co-founder of inventYES, a free program for high school students worldwide. In 2020, he became a founding member of the United States Intellectual Property Alliance to help educate entrepreneurs and inventors on intellectual property.

Greg Shepard of BOSS Capital Partners joins us to discuss autism, neurodiversity, and entrepreneurship. 

The School System and Learning Styles

Growing up, Greg struggled with learning in school and communicating. He had a different style of learning that schools did not teach. He scored very high in some areas but struggled in others. Greg’s kids go to the Winston School, which specialize in neurodiverse students. The school teaches students their learning styles before they do anything else. Once the kids understand how they learn, they can know which type best fits them.

My three kids also had different learning styles when they were growing up. My wife and I homeschooled each of them through different curriculums. The school system fails students when they don’t match teaching styles to learning styles. 

Autism, Neurodiversity, and Entrepreneurship

Greg says starting a business is like a GPS. When using a GPS, you must know your current location and where you’re going. He connects that way of thinking to the acquiring of businesses. Most people jump into things before knowing where they are going and end up in the wrong place. Greg chooses to define the destination ahead of time and plan accordingly. 

It is not a matter of intelligence but rather the lens you see things through. Most people learn things one way and look at things that way. Neurodivergent people look between and around, seeing things differently naturally. This ability has greatly attributed to Greg’s career success.  

Organizations and Neurodiverse Employees

 In most organizations, neurodivergent people cannot get through the application process. To change this, organizations need to get rid of certain obstacles. Job applications often ask the wrong questions to those with different ways of thinking. Interviewers need to focus on areas these people are passionate about. This process will highlight their capabilities rather than getting overlooked. Additionally, neurodivergent people do not operate well with things that are not direct and specific. They need targeted things, and many interviewers fail to provide direct questions. 

About our Guest: Greg Shepard

Greg is a 20-year startup veteran and serial entrepreneur with 14 liquidity events— selling two as part of a $925M transaction that won 4 PE awards for transactions between $250M-$1B. He is a ForbesBooks author and has written over 100 articles published in 25 national and international publications. Hie is also a TEDx speaker and keynote speaker for universities, associations, and conferences worldwide. He is the Host of Meet The BOSS Forbes Radio show and guested on over 25 popular podcasts and numerous network TV and radio shows.

Greg co-founded BOSS Capital Partners, a global syndicate for investing in tech startups worldwide. He also Co-Founded BOSSStartupScience, the learning center based on Greg’s Business Operating Support System (BOSS). BOSS is an open-source methodology developed to empower entrepreneurs while increasing startup success rates.

Rob Tiffany joins us to discuss innovations around digital twins and where the technology is making an impact.

Rob Tiffany of Digital Insights on Digital Twins

Rob is an industry analyst working around wireless communications, IoT, digital twins, etc. Digital twins are digital representations of a physical object. Digital twins arose with NASA when they used them as digital models of spacecraft. GE started using them for aircraft engines in the early 2000s. As the pace of innovation accelerates, things become more complicated. Rob likes to think of digital twins as “asset avatars.”

For example, if you have a 2018 Ford F-150, you build the digital twin to have the same properties as the car (oil, PSI in tires, engine, etc.). The digital twin holds all the elements that make up the object. Digital twins change the whole process of building products and improving them. Rob believes digital twin technology is in the early days because of low fidelity. The first person out of the gate usually doesn’t win with any innovation. Google was not the first search engine, for example.

Electric Vehicle and Train Innovations

One current issue affecting digital twins is the amount of data that an electric vehicle generates. Data is collected when the vehicle reacts to traffic, changing signs, the weather, etc. When people plug their cars in, a lot of data is jammed in and sent to the digital twins, stressing data servers.

While at Hitachi, Rob’s team had a platform called Lumada, which held their digital twins and analytics. In 2016 the UK government put out an RFP as they were looking to replace all the inter-city trains in the country. Hitachi had no footprint in Europe at the time but ran Lumada on Hitachi bullet trains. They won the deal. The digital twin technology was put into a real-life situation.

About Our Guest: Rob Tiffany

Rob Tiffany is Founder and Managing Director at Digital Insights. Rob served as Vice President and Head of IoT Strategy at Ericsson, driving 5G connection management for IoT devices. As CTO and Global Product Manager at Hitachi, he received the Presidential “Product of the Year” award for designing the Lumada Industrial IoT platform, which landed in Gartner’s “Leaders” Magic Quadrant. Spending most of his career at Microsoft, Rob was Global Technology Lead for the Azure IoT cloud platform and co-authored its reference architecture. Before Microsoft, he co-founded NetPerceptor developing one of the industry’s earliest Mobile Device Management (MDM/EMM) platforms for smartphones.

A bestselling author and frequent keynote speaker, Rob serves on multiple boards. He is routinely ranked as one of the top IoT experts and influencers globally by Inc Magazine, Onalytica and others.

Scott Crowder of IBM joins us to discuss quantum computing and its potential to change the world of technology.

Quantum Computing and Its Impact

Scott leads the quantum computing efforts at IBM. Quantum computing is an entirely different information science than what is considered classical computing. Quantum scales exponentially, whereas classical scales linearly. Data with structure, especially machine learning, and simulating quantum mechanics can't be done on a classical computer. Because of advances in technology, energy efficiency has dramatically increased over the last 70 years but still isn't linear. With quantum computing, every time a cubit is added to a system, the space that can be explored is doubled. This means that computing power is immensely more significant and more efficient. As Scott put it, it's "sci-fi come to life."

Areas of focus

To win in the quantum space, several things need to be done. The technology needs developing, as there is a ton of innovation required. Quantum computing needs to be simplified, which is one of IBM's goals. They also want to make the technology available to as many people as possible. IBM believes they will be the first to market quantum computers as doing more than classical computers. 

IBM and Collaboration

IBM has one of the largest userbases of people exploring quantum computing. There are over twenty quantum computers available on the cloud today, with systems worldwide. They have a more open-access platform for exploration. They also have a platform with higher quality and capacity systems they provide to their partners for more profound research. They collaborate with over 175 industry, academic, and research institutions to identify ways to leverage the technology. IBM has adopted the attitude of "not doing everything on their own." Scott says if they understand the problem better, they will create better technologies.

About our Guest: Scott Crowder 

Scott crowder is the Vice president of IBM Quantum and the CTO of IBM Systems, Technical Strategy & Transformation. Scott has his Ph.D. in Electrical Engineering from Stanford University.

Alan Proithis of Capstone Partners joins us to discuss private 5G networks and the importance of innovation collaboration. 

5G Innovation

Allen and I have worked together at different companies since the mid-90s. He is currently focused on private 5G networks. There is an unprecedented amount of investment and interest in the mobile space. People want to apply 5G to some crazy areas. The consumer market around it has created some misconceptions about the technology. Allen believes consumers won't benefit from it in the short term. Enterprises, on the other hand, can potentially benefit significantly from it. While public networks are still needed, 5G brings in a new dynamic. You can tune virtual slices of a private network to do exactly what you want, where you want, all on-demand. This process can all be done securely, which is appealing to many. 

Innovation collaboration

Allen's firm, Capstone Partners, was part of a team that delivered the first private 5G network for the Department of Defense. Cisco, Federated Wireless, JMA Wireless, the Marine Corps customers, and various smaller partners played a vital role in the project. There was a high level of collaboration, and this project wouldn't have worked without it. Collaborating with the right set of partners is key to reaching end goals. Innovation without collaboration is doomed for failure. 

Defining the Problem

Within the practice of collaboration lies the critical task of defining the problem. Understanding the problem is a lot harder than most people think. Allen says understanding the problem requires getting your hands dirty. If you don't take the time to do this, you'll never understand the customer's problem deeply enough. As a result, you will not adequately solve their problem. No matter what the innovation is, it is vital to define the problem you are trying deeply 

About our Guest: Allen Proithis

Allen Proithis is the CEO of Capstone Partners, a strategic advisory firm for clients in the mobile, IoT, software, and technology industries. Before Capstone, Allen was the President of Sigfox, North America. He created a high-performance team that built an Internet of Things business with top enterprise companies and verticals while providing wireless coverage for over 70M people in the US.

Before Sigfox, he created a $155M IoT joint venture (Convida Wireless) with Sony, InterDigital, and Stephens Capital and served as Chairman. In 2014, Allen raised $15M to launch an Internet of Things spinout focused on accelerating value produced by the data generated by IoT. At InterDigital, Allen oversaw all market development activities, including commercializing IoT, Wi-Fi, shared spectrum, and video content management solutions. Allen has been on/recognized by: CNBC, Fortune, Forbes, Wall Street Journal, Fierce Wireless, MWC, and CES.

Peter Lierni of Solutioneering joins us on the second episode of Season 18. The Solution Engineering Tool (SET) is a framework that takes an engineering-based approach to win competitive deals.

The Solution Engineering Tool

As a Navy officer, Peter lived on a ship, which he described as a system of systems. After leaving the Navy, he started consulting in the Pentagon, assessing complex weapons systems. Peter connected building a complex system and doing business development and capture and proposal planning. Peter began using different mental models he developed from his experiences to win deals. He was eventually encouraged to develop this into a framework, and the Solution Engineering Tool (SET) was born. SET is a tool of tools, holding sixty-one tools that companies of all sizes can use and for deals of all sizes and timeframes.

The Importance of Critical Thinking

Innovators often fail to think enough about their innovation's value critically. This critical thinking failure is where SET comes into play. SET starts with an issue and key factor analysis. The goal is to understand the problem, why it's a problem, and identify the critical problems and why they are problems. After that, it's a matter of showing the value your innovation offers.

The Engineering Behind the Framework

When SET is used, it stores a data lake of competitive intelligence. SET provides a digital and visual blueprint that federates all the thinking behind how you got to a win. Many companies can't repeat successes because they didn't document the process behind them. SET collects strategies behind wins to be built upon and repeated in the future. SET's root cause analysis helps identify areas of success and areas that need improvement. In the case of a loss, the compiled data can see where things went wrong. Peter says no matter what innovation tool you use, it's not the tool that makes you successful. It is how you use it. SET is meant to facilitate collaborative analysis to help you make decisions on strategies you apply, potential teams to partner with, who you should hire, and give reasons as to why your company should win a deal.

Welcome to season 18 of the Killer Innovations podcast! We are thrilled to kick off the 18th year of Killer Innovations. Today's show is dedicated to answering your questions about the podcast. 

Ask Me Anything Q&A

What was the original impetus for the podcast?

My mentor Bob Davis, who I attribute much of my success to, inspired me to pay it forward

What was your inspiration for the format and structure of the podcast?

I used to listen to a motivational speaker, Earl Nightingale's Insight Audio Magazine cassette tapes.

How did you produce the first podcast?

I recorded it in a Marriott bathroom, using a $5 microphone attached to my laptop.

How did the podcast get traction?

Adam Curry, an MTV VJ who had a podcast called Daily Source Code, promoted my show.

What would be some surprising "podcast history" that others would find interesting?

Odeo was a podcast directory that promoted my podcast on their show. Not too long after, the Apple podcast came out, killing Odeo. Odeo pivoted and eventually became Twitter.

What was the original audience for the podcast? – The original audience consisted of mostly tech people. 

Has the target audience for the podcast changed over time?

Yes, most early listeners were podcasters. Now people from all sorts of backgrounds are listening. 

What makes your show different from other podcasts?

Longevity (averaged 40-45 episodes a year for seventeen years) and staying consistent with the content.

How have you produced the show over such a long period?

This show is my creative outlet.

What are some of your favorite episodes?

Geoffrey Moore or Peter Guber.

What has been the biggest challenge with the podcast?

Dealing with personal issues that impact getting a show out and maintaining consistency

What is your advice to today's podcasters?

Don't chase the numbers. Focus on your content, be consistent, and collaborate with other podcasters who you like.

How can someone who listens to the podcast benefit from it?

The podcast is encouraging and holds timeless content with a long/deep archive of episodes - take advantage of it.

What would you say is your most significant achievement with the podcast?

Inspiring others to podcast, inspiring creatives to create, and inspiring innovators to invent 

Is there something you experienced that was unexpected about your podcast?

Fans were becoming friends – Woody, Seth (designer), and many others.

What was the most incredible experience with fans of the podcast?

The listeners of the show threw me a party in London.

COVID-19 greatly impacted technology efforts and continues to do so rapidly. Tim Bajarin joins us from Silicon Valley to discuss work from home shifts and the newest innovations from Apple.

Work From Home (WFH) Shifts

Over the last eighteen months, businesses have realized that bringing everybody back to the office isn’t realistic. People are comfortable with the flexibility that working from home provides. Creative Strategies did several studies on this topic and discovered that people establish sophisticated work from home set-ups. Because people want consistency with their office and work from home, IT directors face new challenges. Even when in-office, people are still connecting with clients and colleagues virtually.

Because people now want studios in their homes for work, homeschooling kids, etc., the housing demand has skyrocketed. Architects are currently designing new custom homes that include studios. We are moving towards the hybrid environment being the norm. Large and small companies have been investing in sprucing up their offices for their employees to match their WFH settings.

Shifts in Technology

COVID has opened room for more innovative technologies. People want better cameras, pushing laptop makers and other tech companies to make heavy improvements. Intel competitors have evolved, such as AMD and Qualcomm. Apple’s introduction of the M1 Chip has immensely shaken things up in the valley. The demand for Macs has increased immensely as well. Apple is innovating on so many fronts and has the patience to stay in it for the long run.

Regulatory Pressures

Government regulation has become more prevalent, specifically with the European Union, as it attempts to harness the growth of companies like Apple and Facebook. Tim says that Washington D.C does not understand technology, which has caused some issues. While they talk significantly about clamping down on things, the reality is that great economic challenges will arise if governing bodies step in.

About our Guest: Tim Bajarin

Tim Bajarin is one of the most recognized and sought-after global technology analysts, futurists, and consultants. His fifty years in Silicon Valley have made him a voice that moves the market.

“With his writing and analysis being at the forefront of the digital revolution, Tim was one of the first to cover the personal computer industry and is considered one of the leading experts in the field of technology adoption life cycles. He is president of a technology-focused company, Creative Strategies, and a regular podcaster on Tech.Pinions (also broadcasted on The Innovators Network). He is a futurist and credited with predicting the desktop publishing revolution three years before it reached the market and multimedia.

Been with Creative Strategies since 1981, Tim has served as a consultant to most of the leading hardware and software vendors in the industry (IBM, Apple, Microsoft, Nvidia, AMD, HP, Xerox, Compaq, Dell, AT&T, Microsoft, Polaroid, Lotus, Epson, Qualcomm, Toshiba, and numerous others).

Tim Bajarin is on the technology advisory boards of IBM, Compaq, and Dell. (from Wikipedia)”

It's no mystery that COVID-19 disrupted the technology industry. Today, Bob O'Donnell joins us to discuss the innovation impacts of broadband and 5G.  

Innovation Impacts of Remote Work

COVID-19 dramatically changed how we communicate, increasing the need for fast, consistent broadband. The broadband industry globally builds around two and a half years of capacity ahead of time. High internet usage spikes from COVID resulted in broadband capacity exhaustion 14 days after March 1, 2020. The spikes were due to people working from home and kids being home from school. Zoom, WebEx, Microsoft, etc., all came together to improve the problems.

A strong work-from-home environment is the byproduct of the shift from in-person to remote. To build out their mobile workstations, people invest in high-quality PCs, monitors, cameras, platforms, etc. Bob believes there will continue to be an "explosion of installs" of different video calling platforms. 

The Accelerated Pace of Technology Innovation

Competition in the tech world has seen accelerated growth since COVID-19 started. There are four or five video conferencing platforms most people are currently using. Zoom, for instance, released 320 new features last year. When it comes to microchips, things have never been more competitive. Intel and AMD are working with global governments on semiconductor and supply chain issues. Technological innovations are continuously rolling out. 

5G Innovation Growth

When it comes to 5G innovation, most of the world started out using mid-band frequencies. The U.S started with low and high-band frequencies. Mid-band turned out to be the fastest, leaving U.S 5G efforts off to a slow start. Like Y2K, everybody knew 5G was coming but did not plan for it properly. However, things are now starting to pick up.

The world's leading proponents on 5G private networks, Vodafone Germany recently unveiled a private network at Porsche's main factory. Everything at the factory runs on a 5G network, which does real-time tuning on the car while it's on a test track. Bob is currently working on a study of private 5G and how companies are implementing it. Everybody is talking about private 5G and its potential impacts from chip manufacturers to software, devices, and networks. 

About our Guest: Bob O'Donnell

Bob O'Donnell is the President, Founder, and Chief Analyst of TECHnalysis Research. The firm's research and O'Donnell's opinions are also regularly used by major media outlets, including Bloomberg TV, CNBC, CNN, Investor's Business Daily, the Wall Street Journal, Yahoo Finance, and more.

O'Donnell writes regular columns for USAToday and Forbes and a weekly blog for Tech.pinions.com published on TechSpot, SeekingAlpha, and LinkedIn. Before founding TECHnalysis Research, Bob served as Program Vice President, Clients, and Displays for industry research firm IDC. He is a graduate of the University of Notre Dame. 

Many businesses find their innovations fail, often at great expense and strenuous effort. These innovation failures surprise and frustrate them. They are then left wondering as to what caused their innovations to fail.

Innovation Preparedness

Many causes result in innovation efforts failing. While many causes of innovation failure are within your control, some are not. Understanding the most common causes of innovation failure is essential to prepare yourself better to address them. When you are prepared to face the inevitable, you increase your chances of success.

10 Most Common Cause for Innovations to Fail

1. Lack of Problem Identification:Often, innovators are so excited about their new idea that they don't take the time to identify the problem they're trying to solve. This leads to a lot of wasted time and resources.
2. Lack of Ideation or Inability to Generate Good Ideas: Lack of ideationis a reason for many failed processes, and the inability to develop good ideas is close behind.
3. Poor Execution of the Idea:If you can't successfully execute an idea, it will go nowhere.
4. Lack of Funding or Support: Many promising innovations get canceled due to lack of funding. Dollars, time, and people are all critical parts of successful innovations.
5. Lack of a Clear Roadmap/Plan: Without a rational plan, it's nearly impossible to remain focused and motivated when those inevitable roadblocks arise.
6. Implementation Challenges:Implementation challenges can include anything from tech issues to employee pushback.
7. Cultural Barriers: Cultural barriers, whether on an individual, team or organizational level, can prevent the successful implementation of new ideas.
8. Naysayers (innovation antibodies): Every organization has people who refuse to accept change or even consider it.
9. Poor Timing: Several factors can lead to poor timing, such as market or technology changes, shifts in customer needs or preferences, and changes in the current political climate.
10. Customer Disinterest: No matter how great your innovation is, they won't buy it if customers aren't interested.

Innovation tools allow us to do things we naturally can’t, which unleashes our creative potential. It can be hard to pinpoint the right one for your organization with thousands of options out there. Let’s explore several innovation tool categories that will help improve performance.

9 Types of Innovation Tools

1. Idea sketching tools: Idea sketching tools can be extremely helpful in speeding up the innovation process. They act as time savers, and all you to better communicate your ideas visually.
2. Idea Generation tools: Tools like mind maps, freewriting, or ideation exercises speed up the ideation process, allowing you to generate more ideas. These tools are powerful because they can be used individually or in groups in a way that is free of distractions and deadlines.
3. Creativity tool: Creativity tools improve innovation speed and fall into three main categories. The ideation category includes brainstorming sessions, and the collaboration category includes techniques like facilitated team exercises. The evaluation category contains methods like ranking ideas and project priorities that lead to the best solution.
4. Prototyping tools: Prototyping tools offer a quick and easy way to create a mock-up of ideas, get feedback, and then improve ideas. Prototyping tools can also help save time and money by avoiding future mistakes.
5. Visualization tools: Visualization tools accelerate innovation success by giving access to different perspectives and starting points for creativity. Flow charts or process maps are tools that create more efficiency and effectiveness by indicating the path from start to finish.
6. Market research tools: These tools help innovators identify customer needs, problems, and potential solutions. The top tools provide quantitative data about the general population and specific demographics that aid in product development. They simplify the process of determining idea popularity, best launch time, and areas of improvement.
7. Trend analysis tools: These tools help identify social media, news, and consumer trends. Trend analyses give users opportunities to jump on new ideas before their competition.
8. Technology scouting tools: These tools help you quickly identify and assess new useful technologies. They can also help you ensure you are aware of technologies that might benefit your organization. Properly utilizing these tools allows companies to compete in their market more effectively.
9. Business model generation tools: These tools help you explore and analyze a wide range of business models for your product or service. Business model generation enables you to select the best model for your innovation project. Popular tools include the Business Model Canvas, the Value Proposition Canvas, and The Lean Startup Methodology.

Creativity is one of the most important skills you can have. It unlocks the door to game-changing ideas. Although some people have it naturally, some exercises help in improving creativity.

10 Exercises That Will Improve Your Creativity

1. Take a walk outside: Breaking free of your work, moving around, and observing your surroundings can give you mental clarity and boost creativity. 
2. Write a list of things that annoy you: You can identify new patterns by identifying these things. This exercise can lead to new ideas previously unseen. 
3. Play with the lyrics to your favorite song: Playing with the lyrics of your favorite song opens your mind to new possibilities and breaks you out of your comfort zone. 
4. Create a video montage of your day: This can be a fun way to document your life and see how your creativity manifests itself. Trying different techniques and making edits will improve your creativity skills.
5. Write about what scares you and why it scares you: Some creatives sharpen creativity muscles by writing about what scares them and why (or writing about what doesn't scare them). Exploring scary things can open new avenues that would otherwise be closed.   
6. Play games that require creativity: Many creatives play games such as chess or scrabble. These games sharpen the mind and improve problem-solving. 
7. Do something that makes you laugh:If you're struggling with a creativity block, you can watch funny videos or do other things that release endorphins.
8. Draw something you see every day but don't pay attention to: When we see the same things repeatedly, they become mundane. If we examined the objects and scenes that make up our everyday lives, we'd be surprised at how much creativity hides in plain sight.
9. Exercise your brain with a puzzle:Puzzles exercise the creative side of your brain by forcing you to come up with new ideas and solutions. Doing this can help you break out of a rut.
10. Make crafts out of old things lying around the house: Crafts helps you tap into your creativity and improves your ideation.

Benchmarking compares your organization to others to measure your performance and identify areas for improvement. When done correctly, benchmarking can help you learn from your peers and identify areas for improvement. However, benchmarking can also have negative consequences if done incorrectly. How do you escape the innovation benchmark trap?

Good Vs. Bad Benchmarking

Proper benchmarking helps you understand how you compare to others in your industry and makes it easier to identify best practices. It can also help with planning strategic initiatives and resource allocation. An example of bad benchmarking comes from the story of MCI WorldCom in the late 90s and early 2000s. MCI WorldCom was involved in fraud which inflated their assets. Ultimately, many companies benchmarking themselves with MCI WorldCom went bankrupt.

Innovation Benchmark Uncertainty

Innovation benchmarking, which compares how an organization innovates to others, is becoming more popular. This is growing because leaders are feeling more uncertain about innovation. This uncertainty comes from a lack of confidence in their ability to generate new ideas.

Some consequences of innovation benchmarking include:

Leaders -

1. Run unnecessary risks trying to replicate benchmark results exactly.
2. Benchmark themselves out of uncertainty and into comfort without realizing it.
3. Benchmark their competitors rather than taking a fresh look at their innovation approach.

Escaping The Innovation Benchmark Trap

The best way to avoid the trap is to benchmark with purpose. Learn from peers, but don't assume that what worked for them will work for you. If you follow blindly, your organization can fall apart. It's critical to understand their thought process and discern if their approach is worth experimenting with.

It takes practice and patience to develop your creativity, and there are bad habits people learn which crush their creativity. But like all bad habits, we can break these if we are willing to work at it!

What Are Habits?

Habits are things you do automatically, without thinking. Bad habits can form in a few days, but it can take months or years to form good ones. Breaking bad habits and creating good ones can be challenging, but it's worth it in the long run. You need to be aware of your bad habits and then find a new routine that rewards you by creating a good habit to replace them.

Eight Daily Bad Habits That Are Killing Your Creativity

Here are eight of the very worst bad habits that could hold you back creatively every day:

1. Not allowing yourself time to relax and daydream:Daily downtime is crucial to keeping those creative juices flowing.
2. Procrastination: Putting off creative tasks is terrible for your mental health and career. To avoid it, establish deadlines and accountability measures. 
3. Perfectionism: Many great ideas never see the light of day because people become perfectionists. It's crucial to permit yourself to make mistakes and see the beauty in flawed things. 
4. Over researching before starting a project: Some projects require extensive research, others do not. Too much background reading can hinder creativity. 
5. Listening only to critics: Criticism can be a valuable learning tool, but it should never hold you back from pursuing your dreams. Surround yourself with creative peoplethat inspire you. 
6. Trying to do everything yourself: This can halter your productivity and block success. Collaboration can unlock new ideasand successes.
7. Judging your work too harshly: It's natural to be critical of your work, but it's essential to avoid self-doubt. When overly critical of our work, we become more guarded with our thoughts, killing creativity.
8. Giving up too quickly: You'll never accomplish anything significant by giving up too easily on the hard problems and tasks. Nothing worthwhile comes easy, but the hard work will pay off. 

With the start of a new year, let’s look back at the most downloaded episode of 2021.

The Most Downloaded Episode of 2021

As an innovation leader, I encounter loads of information every day. I like to use tools that capture/organize this information and bring it together in a way that’s easy to access. I need these tools to be accessible on an iPhone, Android, laptop, and iPad. Here are the five tools I use which fit my criteria:

• reMarkable 2 tablet
• Kindle Oasis
• ai
• Readwise
• Roam Research

The Value of My Favorite Innovation Tools

I like to separate my tools into categories like information collection, organization/combination, and the serendipity effect. I used to use Moleskine notebooks for collection, but now I use the reMarkable 2 tablet. It’s similar to writing on paper. All my information is sent to my phone and desktop for storage. I also like using the Kindle Oasis to highlight and save information that I find important or interesting. I use Otter.ai when I am running ideation sessions. This tool acts as an AI-powered assistant, recording and transcribing meetings and other meaningful conversations.

I listen to many audiobooks and podcasts, hardcover books, and online articles. I need a tool that can gather all that information and synthesize it. That is where Readwise comes into play. This tool does all that and pinpoints things I may have missed initially, triggering serendipity. I like to pair Readwise with a tool called Roam Research, which organizes and makes connections between the information Readwise collects.