unlocking growth through experimentation: the … preso.mach… · · 2017-06-01unlocking growth...
TRANSCRIPT
Unlocking Growth Through Experimentation: The Human Side of InnovationJosh MachtEVP, Product Innovation & Group PublisherHarvard Business Review IMAG Conference 2017
What the heck is a secular humanist?
7 Rules for Leading Innovation Efforts
1. Start with a product innovation portfolio
2. Engage everyone in your transformation
3. People love a map
4. People need time
5. Humor matters
6. Hold yourself accountable
7. Create new stories – and retell them
But first, a story…
Hofstadter’s Law
A complex task always takes longer than you expect, even when you account for Hofstadter’s Law.
Hofstadter’s Law
Some inventors break free from this law. But most don't.
Plenty of companies get stuck here…
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LIFE: A Newspaper Insert
Rule #1: Know what you are already doing: Start with your innovation portfolio
Innovation Portfolio
Google Translate HBR AscendHBR Bot for SlackFacebook LiveManagement Tip on Alexa
Big Idea Digital Subscription
Tool for Evaluating Type of Innovation
Key Questions for Product Innovations
What is the projected growth potential for this product or innovation? What data do you need in order to track progress? What are the key milestones for this product?
• How will you know when it's time to consider ditching your favorite new toy in Box 2? How will you track progress of products within portfolio? Is product part of your core transformation and growth (i.e., Transformation A)? Or, are you tapping into new market, new model (i.e., Transformation B)? Consider level of effort vs payoff – what is the bang for the buck? Can this new effort be leveraged across company?
Rule #2: Engage the entire team in your transformation
Rule #3: People need a map
All experimentation must be guided by a strategic vision:
Where are you playing? How do you define winning? What capabilities do you need to win? What needs to be true for your plan to work?
Rule #4: People need time
Rule #5: Humor matters
Rule #6: Hold yourself accountable
Rule #7: Create new stories – and retell them. Celebrate your past and future.
