Ideas are Addictive
I get it; we are easily distracted.
Ideas are addictive. We get hooked on the initial energy and excitement from discovery and novelty.
Our attention gets drawn to new potential projects and disruptive ideas.
We’re always looking for the next big thing, but we fail to commit to implementing what works and the long tail of innovation.
Too often, we focus on the flashy, new aspects of innovation and forget about the essential but mundane work that goes into making something successful.
Innovation is often thought of as a sudden, epiphany-like event. We imagine a lightbulb moment where an individual has a brilliant idea that leads to a new product or service. Easy, right?
But the reality is that innovation is more than just having a great idea. Sometimes the most significant barrier to innovation isn’t a lack of ideas but a lack of execution.
A Missed Opportunity
Take the cautionary tale of Kodak. As early as 1975, Kodak ignored the potential of digital cameras. It was not due to competitive secrets or a lack of research. They already had the idea under their roof.
Steven Sasson was an electrical engineer for Kodak and developed the first ever digital camera. But company leaders ignored the potential and failed to develop the idea for the market. Instead, they continued to commit to existing technology [film system cameras] that had a well-proven business model.
[the early invention] points out how long a time horizon business leaders must have when investing for the long-term survival of any enterprise that depends on a particular technology for its existence.
~ Steven Sasson
It would be another 20 years before the first digital cameras were sold in the mid-1990s. Kodak eventually declared bankruptcy in 2012, and not capitalising on the emerging digital camera technology contributed to their demise.
It’s not enough to have a great idea – you also need to be able to execute on the potential of that opportunity.
Riding the Long Tail
It’s easy to forget that innovation is a process, not an event. And like any process, it has its ups and downs. Different phases of innovation require different strengths and dispositions.
It may be boring, but the continuous application of a good idea creates significant change. This is where compound growth plays a role. Compound growth is the gain from consistent application over time.
Mwiya Musokotwane describes both sides of action and inaction, in terms of stewardship of the future. Here he explains why caring for the future in the present ‘is both fantastically thrilling but also nerve-wracking.’
To make the most of the latter phases of innovation we need to be comfortable with iteration, gradual improvement and deferring satisfaction as part of a long-term implementation strategy.
Embrace the boring phases of innovation. They may not be flashy or glamorous, but they’re essential for making progress.
⏭🎯 Your Next Steps
Commit to action and turn words into works
- Reflect on the long tail of innovation and what this means for your community.
- Implement a continuous improvement process and commit resources to the later phases.
- Be patient and trust the process. Consider which parts of the journey you are drawn to.
🗣💬 Your Talking Points
Lead a team dialogue with these provocations
- How are we listening to our most passionate and inventive colleagues?
- This project has an inactivity debt. How might we shift this to positive gains?
- What strengths do we have in this group for the later stages of innovation?