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Five key insights from the first internal innovators meetup

Max Farrell is the co-founder of Create Reason, an innovation experience firm that promotes a culture of intrapreneurship inside established companies.

Recently a group of intrapreneurs/change agents from a handful of area companies got together for the first Des Moines Internal Innovators Meetup. We discussed a number of topics around how companies approach innovation, what some of the wins have been, what roadblocks have been and an open dialogue on supporting one another.

It was a great chance to connect like-minded professionals and we’re excited for what the future holds with this group. Following the group, I identified five key insights from the discussions and share them with you here: 

Everybody has problems

We all know of internal politics, mixed ambitions, communication breakdowns, etc. But we all have problems and address them in different ways. Establishing this was a huge breakthrough for us in having authentic conversation. 

Companies have different definitions of “innovation”

To some people, innovation means disruptive or big changes. For others, innovation is about making continuous improvements and incremental progress.  Different groups believe it’s a cultural shift and a “new way of thinking” for the employees. 

Not only is this an occurrence across different companies but this happens within organizations. Multiple people have multiple interpretations. This is where the group agreed it’s key to have a clear definition of what innovation means to the company. 

Companies have the power of the brand as an unfair advantage

If customers already align with your brand, selling to customers or prospects is half the battle. This makes it much easier than startups attempting to establish a brand from the ground up. 

One exception to this exists when established companies are expanding internationally. The brand doesn’t have the same weight in new markets and may be interpreted in unexpected ways. This can lead to a tougher time acquiring brand loyalty in new markets, but provides an opportunity for companies to better understand their expansion areas. 

“What worked yesterday won’t work tomorrow”

Not only do markets change rapidly, but the definition of success does too. Teams internally sometimes have a hard time realizing “what worked yesterday won’t work tomorrow” and have to work to acquire buy-in for new approaches to implement instead of being heads down on figuring out what work tomorrow. Ensuring companies move quicker on this front is crucial to success.

Innovation goals have to align with business goals

Unless an innovation team is autonomous from the rest of the business, innovation goals have to meet the pre-set demands of a business. This means innovation can be used as a tool to more effectively meet or exceed existing goals. Some groups work to understand the strategic initiatives and then filter possible new initiatives based on those.  

Closing

This was a great first meeting and we’re looking forward to more discussions with local intrapreneurs. If anyone in your company is interested, please have them fill out this form to join us at the next meetup!

Let's keep the conversation going: 

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Email: max@createreason.com

Twitter: @MaxOnTheTrack / @CreateReason

Web: CreateReason.com

FB: facebook.com/createreason

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