Our Thoughts

Succeeding Fast Means Failing Faster

Failure is a daunting word. It’s often associated with negative feelings like disappointment, shame, and fear. But when it comes to innovation, failure is actually a healthy and necessary part of the process. As innovators, it’s important that we learn how to deal with failure, learn from it, and thrive off of it. That’s why we started the Lab – to provide a safe space for innovators to take risks and fail without fear of judgment. In today’s blog post, we’re going to explore how failure is inevitable in innovation, how we should approach it, and how it can ultimately lead us to success.

Pivot or Perish

In the business world, change is the only constant. In a highly competitive market, it is essential to stay on top of trends and be agile enough to pivot when necessary. While every company begins with a specific vision, it is vital to be open to change, adapt to trends, and pivot accordingly. Companies that do not embrace a pivot risk becoming obsolete. In this blog post, we will discuss how to respond to data that suggests a pivot is necessary.

Delivering Value

Innovation is a wonderful thing. It gives birth to ideas that can change the way we live our lives. However, it can also be a double-edged sword, as not all great ideas turn into money-makers. This is why some people argue that a mechanism should be put in place to identify bad ideas before they waste valuable time and resources. On the other hand, focusing on the value that an idea can generate, rather than the idea itself, may be a better way of ensuring success. In this blog post, we will dive into the importance of staying focused on delivering value, rather than just the initial vision.

Start with the End

In today’s fast-paced business world, innovation is key to staying ahead of the competition. But with so many great ideas bouncing around, it’s easy to get lost in the rush of creating new products or services. This is where the concept of a minimal viable solution comes into play. But how do you ensure that your minimal viable solution will actually achieve the desired outcome? The answer is simple: start with the end in mind. In this blog post, we’ll explore why starting with outcomes is crucial to building a successful minimal viable solution and how to validate those outcomes.

Validating Value

As an innovator, it’s easy to get lost in the excitement of creating something new and innovative. However, it’s essential to remember that the solution you’re trying to replace was once the latest innovation producing unprecedented value. In the past, MySpace, taxi cabs, and hotels provided tremendous value until they didn’t. Therefore, as an innovator, it’s your responsibility to always validate the value you create. In this article, we’ll explore the importance of validating the value you create and why it’s crucial for the success of any innovation.

Creating Value and Staying True to Purpose

Innovation is all about creating new and meaningful solutions to problems that matter. It requires challenging the status quo and taking risks. But how can we ensure that our innovation efforts are not just for the sake of novelty, but are also providing value? In this blog post, we will explore the importance of starting with value creation and always pivoting back to purpose. We will discuss how to define and validate the value we hope to generate and why staying true to our purpose is essential in innovation.

How to Create Something That Really Matters

Innovation is the lifeblood of progress. It’s what helps us solve problems, create new products and services, and ultimately, make the world a better place. But innovation by itself isn’t enough. It’s not enough to simply come up with something new and hope that it will catch on. To truly make a difference, we need purpose. Purpose is the linchpin to innovation, and it’s what separates successful innovations from those that fall by the wayside. In this blog post, we’ll explore why purpose is so important in innovation and how to make sure that it’s at the centre of everything we do.

Navigating Change Management During Innovation

Innovation is a necessary aspect of business growth, but introducing change can be a tough pill to swallow. Change management can be a daunting task, particularly when it comes to internal innovation within an organization. However, with the right mindset and approach, you can make the transition smoother. In this blog post, we’ll discuss why change is difficult and provide some tips to successfully navigate change management during innovation.

Data Fences

As an innovator, one of the most important things you’ll need to do is to tear down the fences of what already exists to create something new. However, before doing so, it’s important to first understand why the fence was placed where it was. This simple principle can mean the difference between succeeding in your innovation or failing to make any real progress. In this blog, we’ll explore the power of knowing “why” in innovation and how it can help you create something incredible.

The Power of Knowing “Why”

The Innovator’s Question

Innovators are often thought to be risk-takers and trailblazers, people who always find a way to get things done, especially when others have tried and failed. One of the most important characteristics of innovative people is their ability to ask tough questions that most others are afraid to ask. Such questions can invariably lead to disruptive breakthroughs that change the world. That is why the question “why” is so powerful and so crucial for innovators.

Innovation Leads to Exponential Outcomes

Every entrepreneur has that next groundbreaking idea in their head, but only a few move forward to transform them into reality. The fear of financial and time constraints often hold them back. But what if you knew, for a fact, that your vision would be generating millions of dollars in revenue in just a few years? How would you feel about the time and money required today?

Building build-measure-learn feedback loops is simpler than you think

Innovation is at the forefront of a company’s success, but getting from idea to execution can be challenging. To help streamline the innovation process, Eric Ries introduced the concept of Build-Measure-Learn. This three-step process is designed to quickly test and validate ideas, but it can be overwhelming to those who are new to the concept. However, building build-measure-learn is simpler than you think. Here’s a quick three-step process that will help you revolutionize your ideation process.

The Importance of Validating Assumptions with the Right Data

As an innovator, you probably have tons of ideas brewing in your head. It’s exciting to think of the next big thing, the next game-changer, and the next innovation that will change the world. But before you invest your time, energy, and resources into an idea, you need to validate your assumptions with data. However, not all data is created equal. You need to make sure that you’re using the right data and interpreting it correctly. In this blog post, we will discuss the importance of validating assumptions with the right data and how it can help you avoid costly mistakes.

Assumption Awareness