Top 5 tips for Innovators.....
Just wanted to reference a great blog from my colleague Lars Lindstedt
On a recent trip to the Microsoft Research labs in Cambridge he picked up these top 5 tips for entrepreneurs and innovators.....
1. Look for the gaps. Often the best ideas are right in front of you — you just have to see them. Innovators are consummate observers of what people do and how things get done. They identify gaps between existing products and technologies, and consider how a new approach might be more efficient, engaging or cool.
For example, Microsoft researchers observed that traditional answering machines do a poor job of helping people manage their voice messages, particularly for an entire family. So they developed the Bubble Board, a wall-mounted touch screen that gives families a simple, visual way to identify and manage individual phone messages.
Try this: Devote a half day to watching how different people interact with an object of your choice, such as a mobile phone or a bicycle or a ticket kiosk. How could the object be improved for a better user experience? What other objects are related to your chosen object’s function? What new strategies might be used to accomplish the same objective, but smarter, faster or more enjoyably?
2. Many heads are better than one. Inspiration drawn from numerous disciplines tends to lead to the most successful products, and rarely does one person embody all of the knowledge required to develop a viable concept. That’s why collaboration is so important to the process of innovation. Surface computing — tabletop computer displays that interact with people and objects in a remarkably intuitive way — is one such example. The research behind surface computing drew upon people who understand electronics, human-computer interaction and computer vision techniques. Microsoft’s Cambridge lab added another layer of innovation on top of this with C-Slate, which allows people at different locations to work together using surface computing. For this project, social anthropologists worked closely with the technical developers to create a useful and intuitive interface.
Try this: Invite two or three people who represent very different educational and professional backgrounds to a brainstorming session. Present your innovative idea to the group and ask them to offer their impressions and related ideas. Lead the discussion to capture their creative thinking and practical insights.
3. Do your research. If your idea is so great, why hasn’t someone else already thought of it? The internet is your first stop, to find out whether your idea has already been developed. Online articles, patent information, blogs and company websites are all potential sources of relevant information. You should also reach out to primary sources of information. What experts can you identify who would be willing to advise you and share their knowledge?
Try this: Identify a technical or market-focused expert and make an appointment to discuss your innovative idea. Consider your questions carefully beforehand, to ensure you gain the insight that this person can provide.
4. Don’t let failure get you down. Failure is an integral part of innovation and, while painful, it is one of the best teachers. The hard part is recognising when things are going badly, and being honest with yourself about it. Of course not all ideas are great ideas and timing is also an important factor in market adoption. You have to be able to admit when it’s time to quit, and recover from that.
At Microsoft, researchers minimise the number of dead-end projects by placing high value on peer review. By critiquing each other’s work, researchers receive critical help identifying the weaknesses in their concept. As an innovator, you must become comfortable listening to skeptics and develop the personal confidence to defend your convictions, while recognising that others may have insight that you do not.
Try this: Develop a 1-minute sales pitch about your product and test it on five people for their reaction. Encourage them to give you their honest impression — the positive and the negative.
5. Develop your business know-how. For any start-up, the research and initial concept typically represents 1% of the overall investment. Getting that product to market consumes about 10%. And the remaining 89% is spent on sales, marketing and support. As an innovator, you will have to develop a feel for business. This does not mean you need a business degree, but you will need the perspective to entice investors and introduce your product to the marketplace. You will also need to develop a business model that protects your intellectual property and prevents others from taking your idea and doing it better. This protection could take the form of a patent or it could hinge on your product being the first out of the gate.
There are many schemes for young people to learn basic business skills, such as Young Enterprise or The Working Knowledge Group, to help you gain perspective on the facets and pressures of running a business.
Try this: Determine what the “secret sauce” of your innovation will be. How will you secure a leading position after you have launched your product?
So from my last three posts... go change the world J
